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Should I call auctioneer? (Old thread)

  • 19-01-2015 11:15am
    #1
    Snakeweasel
    Registered Users, Registered Users 2 Posts: 573 ✭✭✭


    Hi Guys, First Time Buyer with a question. I placed a bid on a house I am interested in a week ago today. There had been a bit of a bidding war between two buyers up to that point which had seen the price increase almost every second day for over a week. My bid was only 1k more than the current bid at the time. I have heard nothing since then from the auctioneer. Should I contact him or is this showing my interest too much running the risk of phantom bids appearing?


Comments

  • #2
    spaceHopper
    Registered Users, Registered Users 2 Posts: 4,101 ✭✭✭spaceHopper


    Yes what if they forgot to tell you about other bids mistakes happen. You could send them a text, Hi I placed a bit on house x and haven't had a response, can you let me know the status please?


  • #3
    AfterHrsProp
    Banned (with Prison Access) Posts: 76 ✭✭AfterHrsProp


    Most likely there has been no further bids made in the time you last made you're bid. The auctioneer is probably still waiting on the two other bidders to get back to him.

    If another bid was made & the auctioneer is any good, he would have made you aware of this immediately.


  • #4
    Victor
    Registered Users, Registered Users 2 Posts: 78,580 ✭✭✭✭Victor


    If you do, you should be casual about it and, as your existing bid is at the top of what you can afford, say you are considering bidding on something else instead.

    You then have to make sure that you don't go more than a few thousand above your last bid.


  • #5
    Snakeweasel
    Registered Users, Registered Users 2 Posts: 573 ✭✭✭Snakeweasel


    I should add that it is a bank owned property, and I know this can lead to a delay in hearing back about an offer. Its just the fact that there was a bidding war between two parties previous to this so I assume that the auctioneer was telling them whenever a better offer came in. It is a fixer upper and is coming very close to the max I would pay for it so I wonder if the other buyers have topped out at what they were looking at spending already?


  • #6
    AfterHrsProp
    Banned (with Prison Access) Posts: 76 ✭✭AfterHrsProp


    Snakeweasel wrote: »
    I should add that it is a bank owned property, and I know this can lead to a delay in hearing back about an offer. Its just the fact that there was a bidding war between two parties previous to this so I assume that the auctioneer was telling them whenever a better offer came in. It is a fixer upper and is coming very close to the max I would pay for it so I wonder if the other buyers have topped out at what they were looking at spending already?


    I would advise you to call the auctioneer & inform him there is a time limit on you're offer & that there is other properties you're interested in as well.


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  • #7
    Snakeweasel
    Registered Users, Registered Users 2 Posts: 573 ✭✭✭Snakeweasel


    AfterHrsProp wrote: »
    I would advise you to call the auctioneer & inform him there is a time limit on you're offer & that there is other properties you're interested in as well.

    That was something else I was wondering about, as soon as I hung up after making the offer i thought "crap should have put a time limit on the offer"

    Please excuse my ignorance, but would saying that there is a time limit be believable at this point?


  • #8
    AfterHrsProp
    Banned (with Prison Access) Posts: 76 ✭✭AfterHrsProp


    Snakeweasel wrote: »
    That was something else I was wondering about, as soon as I hung up after making the offer i thought "crap should have put a time limit on the offer"

    Please excuse my ignorance, but would saying that there is a time limit be believable at this point?

    Its always believable just depends on how you put it across. I would encourage you to say something along the lines of I need an answer to my bid within the next 48 hours as there is another property I'm interested & I'll be making a move on that instead if there is no answer. Hope this helps.


  • #9
    Snakeweasel
    Registered Users, Registered Users 2 Posts: 573 ✭✭✭Snakeweasel


    Thanks for the advice guys, I text him and he rang me back, my bid was going good until the weekend. In three bids the price has jumped up by over 10k so I am out. Even the auctioneer was shocked it has gone so high (at least he convinced me he was) and thought that the house would have gone for less given the amount of work needed on it.


  • #10
    horse7
    Registered Users, Registered Users 2 Posts: 3,833 ✭✭✭horse7


    Have made an offer on a house to the auctioneer,but the auctioneer is not returning my calls, the receptionist says they will call back,but does not, have called auctioneer ,s mobile ,bur not answering or going to voicemail with message box full. I am considering calling into the sellers house to find out what the position is. This is on going since november 2014. Any advise?


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