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Accepting a lower bid on a house

styer · 2014-01-30 15:25:00

Hi All, Just a very quick question. I am currently bidding on a house and the people selling are accepting a lower bid. The house is being sold through an auctioneer. It just popped into my head and I said I'd ask here, is there any rules that govern the sale of a property or item through an auctioneer, as in, can they…

30-01-2014 3:25pm

#1

styer

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Join Date: May 2005

Posts: 174

Hi All,

Just a very quick question. I am currently bidding on a house and the people selling are accepting a lower bid. The house is being sold through an auctioneer. It just popped into my head and I said I'd ask here, is there any rules that govern the sale of a property or item through an auctioneer, as in, can they accept a lower bid. There probably isn't but I just said I'd ask.

Thank you

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Comments

#2 30-01-2014 3:33pm

Idbatterim

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of course not, i'm assuming the other buyers are cash buyers and ready to go?

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#3 30-01-2014 3:40pm

styer

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thought that, was just curious if there was...

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#4 31-01-2014 2:42pm

Lin_Q

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Hey Styer, I was in the same situation as you last October...a lower offer made by a cash buyer was accepted by the house owner even though I made an offer 6k higher...I consider this as a bad luck:P

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#5 31-01-2014 6:18pm

riclad

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The buyer could be a cash buyer,
or relative,
or person known to the seller.
Theres no law that says he must accept the highest bid.

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