House Purchase

Pete_229

Just over 10 months ago, myself and my wife viewed a 5 bed bungalow which was for sale by the banks. The price was good, much lower than a private sale, anyhooo we were advised by the estate agent to eventually make an offer of *** We did and we're told over da phone that we now had the highest offer and that it was yours. We do have an email from auctioneer saying go to *** 9 months went by and we still hadn't paid our deposit, utter madness but we hung in there as property as we all know is few and far between, anyhow over the course of 9 months I'd say the auctioneer contacted us like 5 times, saying waiting on the receiver's to make a move, just bullcrap and circle's is all we got. Just before the mortgage ran out we got a call to say that the receiver's were now not prepared to deal with us, but wanted to deal with a cash offer only. Now my question is. I'm confident we had the highest offer and that the cash offer was lower. How could I find this out for absolute certainty and if this happened then is it legal, and we met the auctioneer and during a meeting he mentioned that the house may of sold for just below our price,when I questioned this his reply was oh it must actually be the highest offer alright den. Just more bull

Also in a few weeks after the sale, this particular property was not mentioned in the local news paper as sold, my other question is. Isn't it a legal requirement to advertise the sale of a property in the news paper, I know a private sale is exempt. I just know we were dupped, have we any recourse here, is there any point in going to a solicitor and seeking legal advice on the matter, it's hard enuf for a young couple to find a house these days without being subjected to that absolutely disgraceful behaviour, there was definitely some chinese book cooking going on in some shape or form. Disgusted

L1011

Pete_229 wrote: »

How could I find this out for absolute certainty and if this happened then is it legal

Property Price Register once the sale goes through. Its entirely legal.

Pete_229 wrote: »

Isn't it a legal requirement to advertise the sale of a property in the news paper,

No.

Pete_229 wrote: »

is there any point in going to a solicitor and seeking legal advice on the matter

No.

nava

MOD: Moving to Accommodation & Property as more suitable than Online Buying & Auctions

Michael D Not Higgins

It's possible there's an issue with the sale that would prevent mortgage drawdown which wouldn't stop a cash buyer. It is legal for them to accept a lower cash bid, as this also has fewer hold ups in the process.

alastair

Pete_229 wrote: »

Just over 10 months ago, myself and my wife viewed a 5 bed bungalow which was for sale by the banks. The price was good, much lower than a private sale, anyhooo we were advised by the estate agent to eventually make an offer of *** We did and we're told over da phone that we now had the highest offer and that it was yours. We do have an email from auctioneer saying go to *** 9 months went by and we still hadn't paid our deposit, utter madness but we hung in there as property as we all know is few and far between, anyhow over the course of 9 months I'd say the auctioneer contacted us like 5 times, saying waiting on the receiver's to make a move, just bullcrap and circle's is all we got. Just before the mortgage ran out we got a call to say that the receiver's were now not prepared to deal with us, but wanted to deal with a cash offer only. Now my question is. I'm confident we had the highest offer and that the cash offer was lower. How could I find this out for absolute certainty and if this happened then is it legal, and we met the auctioneer and during a meeting he mentioned that the house may of sold for just below our price,when I questioned this his reply was oh it must actually be the highest offer alright den. Just more bull

Also in a few weeks after the sale, this particular property was not mentioned in the local news paper as sold, my other question is. Isn't it a legal requirement to advertise the sale of a property in the news paper, I know a private sale is exempt. I just know we were dupped, have we any recourse here, is there any point in going to a solicitor and seeking legal advice on the matter, it's hard enuf for a young couple to find a house these days without being subjected to that absolutely disgraceful behaviour, there was definitely some chinese book cooking going on in some shape or form. Disgusted

The vendor can opt to take a lower offer if they want. A cash offer has a value to some sellers. I lost out on a property last year to a lower cash offer. It sucks, but it isn't illegal or neccesarily dodgy.

MarkAnthony

Potentially there could be recourse if the vendor was willing to play ball and it could be proved the receiver was in breach of their duty. I'd estimate about 50K in legal fees and potentially damages awarded to the vendor. You'd get very little if anything out of it, you're not party to the transaction.

It's very likely as others have pointed out an issue may have arose that made a mortgage difficult.

Never stop looking until contracts are signed and dates are agreed.