Advice needed ... Is auctioneer been fair?

tess1515

We viewed a property approx 4 months ago and decided to put in an offer at asking price as we didn't want to mess around as im expecting so times against us ... after waiting 2 months and been told by agent all along no other offers in and viewings had stopped just waiting on owner to get back to him, she then got back saying she wouldn't sell for that and wanted 5000 more. we offered that straight away and we were then told she was thinking about it.. About 6 weeks passed and we just asked what did she want cause we wanted property and hadn't time to play around.... he then got back to us saying she would be happy to let it go for 15,000 more than asking .... with no-one biding and no other interest we agreed to this and as she is out of country at the min we were just waiting on her to come back to her word ..
we then got a phone call today to say someone had viewed and offered 1000 more than us .. this is 4 months later with no interest all along .. what should we do ???

Water John

Sadly thin k you are being messed about.
Only way to cut to the chase is whatever is your offer and put a five day deadline on it. It is then off the table and your gone.

The offer you make is what you feel you are willing to pay for it. Not what anyone else thinks.
The time frame used by the seller and the EA are ridiculous and unfair to any purchaser.

You were used as the base price to pump some one else.

athtrasna

tess1515 wrote: »

We viewed a property approx 4 months ago and decided to put in an offer at asking price as we didn't want to mess around as im expecting so times against us ... after waiting 2 months and been told by agent all along no other offers in and viewings had stopped just waiting on owner to get back to him, she then got back saying she wouldn't sell for that and wanted 5000 more. we offered that straight away and we were then told she was thinking about it.. About 6 weeks passed and we just asked what did she want cause we wanted property and hadn't time to play around.... he then got back to us saying she would be happy to let it go for 15,000 more than asking .... with no-one biding and no other interest we agreed to this and as she is out of country at the min we were just waiting on her to come back to her word ..
we then got a phone call today to say someone had viewed and offered 1000 more than us .. this is 4 months later with no interest all along .. what should we do ???

Be prepared to lose it but I'd be inclined to say your offer is final and will expire on date X (no more than two weeks from now). You've been messed around for too long already and probably should have walked away weeks ago tbh.

the_pen_turner

lower your offer by 5000 and give deadline of 48hrs.

tracey turnblad

I was gonna say the same thing ^^^

Seth Brundle

^^^^^ I'd have gone back to the original offer / asking price

tess1515

if we weren expecting our second trust me we would of but really want the house and we know we shouldn have offered more but as time is flying by and we were willing to go higher we just did....

auctioneer did say i will be saying to her monday that this couple have have been here from start they asked you what ya wanted and they offered it.... we have money sitting ready to go etc which she knows.

I have told him she doesnt take our offer we are out not going any higher we've bid 15,000 higher against ourselves ....

And if he does say she taking their offer im saying well dont be coming back to us in a week saying it fell through cause our deposit is gone im getting of phone booking a holiday with some a deposit so wont have it ...

Water John

Don't let your anger blind your offer.
You bid what you are prepared to pay and put a short deadline on it.
If you get it, fine. If you don't, move on.
Learn from it. Next time an auction needs to progress. Timelines differ, depending what part of the country you are in, but it has to progress. If there is stalling put a drop dead date on your offer. Put the onus on the seller and the EA to complete the transaction if they want to hold your bid. Don't let your bid be held over time as a fall back or base price for the property. Then you are being used.

F1ngers

kbannon wrote: »

^^^^^ I'd have gone back to the original offer / asking price

With a 12hr deadline and be prepared to walk away.
You're being taken for a ride.

funkey_monkey

Looks like you are being used as a stalking horse.

I'd be very wary about progressing with this as there is nothing to stop these ones from accepting another offer or pulling out (applies to all sellers, but these guys seem to be the type) and you'd end up with fees from solicitors etc and nothing to show for it.

Is there any justification for the increase of €20,000 in the space of four months? Was it cheap to start with? What are comparable properties going for?

You have wasted 4 months here. What makes you think the next increase will allow you to complete the sale? Do you trust them to progress through to signing?

I think you should be seriously thinking about walking away from here. You have waited four months. Increased your offer by €20,000 and got essentailly no response from sellers other than demands for more money.

Only you know if it is still worth it at the new inflated price, but you should be looking elsewhere as I don't think these people are serious sellers. You have a child on the way. If the extra space is essential then you need to be looking elsewhere for a back up plan.

You obviously consider that the extra €20,000 is inline with your local properties as you have agreed to these requests. You now need to time bound the offer and be prepared to walk away. Give them three days to accept - don't add on the extra €1,000 they are now requesting. I got gazumped too. Rage prompted me to keep bidding for more than I should. Luckily in the end I came to my senses and bowed out.

Do you think it is a shill bid or a genuine bid? If the former, get your solicitor to contact the EA.

MarkAnthony

Until contracts are signed, keep looking. Keep looking with the same EA even if you don't intend to buy anything else from them, yanks their chain a bit and keeps them honest.