Dubious house sale

aine_canby

Hi,

I enquired about a house by phone 2 months ago and was told that it was "Sale Agreed". I emailed them a month ago when I saw that the For Sale sign was still up and it was still listed on daft. I was again told that it was "Sale Agreed". The sign is still up and it is listed on daft and the Auctioneer's parent company's website.

The house is selling for €175,000 but it is a mansion and worth twice that much.

My understanding is that the house is owned by a large developer in our town who got into financial difficulties. I'm guessing the bank is selling this house and the auctioneer is tight with the owner.

Is it possible to report such suspicious activity? Have you any other advice?

Áine

Eric Cartman

8 weeks isn't that long to close a house sale. it could still very well be legitimately pending.

drunkmonkey

If you didn't put in a bid you've no case to complain, auctioneers have to keep written records of all bids.
If it's now sold/sale agreed your too late.

the_syco

To add to the above, unless you gazump, you can't complain.

Balmed Out

Lot of properties staying as for sale after sale agreed due to the amount of sales that fall through.
As for the price unless you viewed it and got a survey etc you have no idea what mitigating factors there may be.

athtrasna

Mod note

OP please read our charter (sticky on the front page of A&P) before posting again. Sensationalist posts and thread titles are not permitted. Please take care before throwing words like corrupt around the place, you potentially leave yourself and Boards open to legal action if the agent in question could be identified.

Thread title has been edited accordingly.

alastair

The place could be sale agreed for months before the sign comes down, and there's no shortage of sale agreed places not updated on Daft.

amdublin

I'm confused. Do you actually want to buy this house?

CreepingDeath

aine_canby wrote: »

I enquired about a house by phone 2 months ago and was told that it was "Sale Agreed". I emailed them a month ago when I saw that the For Sale sign was still up and it was still listed on daft.

Very common practice these days.
Nothing corrupt... just if the sale falls through for any reason, other potential buyers might think something nasty was found during a structural survey.
So it's in the interest of the sellers and the estate agent, not to prematurely mark it as sale agreed.

So houses aren't being marked as sale agreed/sold until the entire conveyancing process is complete ( 6-8 weeks later )

ted1

drunkmonkey wrote: »

If you didn't put in a bid you've no case to complain, auctioneers have to keep written records of all bids.
If it's now sold/sale agreed your too late.

There's a difference between sold and sale agreed.

campingcarist

CreepingDeath wrote: »

Very common practice these days.
Nothing corrupt... just if the sale falls through for any reason, other potential buyers might think something nasty was found during a structural survey.
So it's in the interest of the sellers and the estate agent, not to prematurely mark it as sale agreed.

So houses aren't being marked as sale agreed/sold until the entire conveyancing process is complete ( 6-8 weeks later )

I think more like 12 weeks before contracts signed and the property becomes "sold". This was the case when I bought my last property and as it was a cash purchase, I thought it would go through quicker.

If it is a bank sale, it could be double that. Receivers tend not to be in any hurry to close sales or because there are problems with the deeds and/or replies to queries by the purchasers solicitor.

In the case of apartments, management companies will not do anything until all service charges are paid.