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Auctions/bidding

jkforde · 2015-02-26 06:52:24

hey folks, we just won a closed bid on a house, just wondering what is the regulatory or legal framework around auctions and bidding... I mean we and the other party in the bidding didn't have to submit bona fides or any evidence of honest intent.... I'm talking here of how bidding parties can protect themselves from…

26-02-2015 6:52am

#1

jkforde

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Join Date: April 2007

Posts: 1783

hey folks, we just won a closed bid on a house, just wondering what is the regulatory or legal framework around auctions and bidding... I mean we and the other party in the bidding didn't have to submit bona fides or any evidence of honest intent.... I'm talking here of how bidding parties can protect themselves from plants in a bidding contest and is there any legal guidance or framework for consumers. I've no specific case or anxiety here, just general interest

🌦️ 6.7kwp, 45°, SSW, mid-Galway 🌦️
"Since I no longer expect anything from mankind except madness, meanness, and mendacity; egotism, cowardice, and self-delusion, I have stopped being a misanthrope." Irving Layton

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Comments

#2 26-02-2015 7:46am

Mr. Incognito

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You need to register in advance and be disciplined. If they bid over your limit stop bidding

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