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House sale falls through - does next bidder get notified?

  • 23-08-2013 7:27pm
    #1
    rionn
    Registered Users, Registered Users 2 Posts: 109 ✭✭


    Hi I would be grateful if someone would shed some light on this. I have been keeping an eye on an area were I would like to buy but the house I want hasn't come on the market yet.

    One of the houses went sale agreed about 3 weeks ago but I have just noticed it is back on the market now. I would have thought that they would have passed it back to the people who were next highest bidders.

    Does anyone know or is it that they have to put it back on the market?

    Thanks guys!!


Comments

  • #2
    camphor
    Banned (with Prison Access) Posts: 202 ✭✭camphor


    rionn wrote: »
    Hi I would be grateful if someone would shed some light on this. I have been keeping an eye on an area were I would like to buy but the house I want hasn't come on the market yet.

    One of the houses went sale agreed about 3 weeks ago but I have just noticed it is back on the market now. I would have thought that they would have passed it back to the people who were next highest bidders.

    Does anyone know or is it that they have to put it back on the market?

    Thanks guys!!

    If it is a private treaty sale , they can do what they like!


  • #3
    Sarn
    Registered Users, Registered Users 2 Posts: 3,109 ✭✭✭Sarn


    It makes sense for the vendor to get in touch. But I know if I was the second bidder I would prefer to start off from scratch again, there is no way I'd be offering the next highest bid. The simplest thing is to make an enquiry.


  • #4
    odds_on
    Closed Accounts Posts: 1,869 ✭✭✭odds_on


    The question is, why is it back on the market again?
    Was it a problem with the buyer who didn't/couldn't get the mortgage he was hoping for or was there some issue with the property - structural, legal, management company with no funds (if it applies in this case) etc. It might even be just the vendors had a change of mind/circumstances and decided not to sell.


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