House relisted with big price increase.

rachbert

Hi All,

Just looking for some advice. I contacted an estate agent mid December about a house I was interested in. I was told it had just gone sale agreed. I noticed the house was listed again this week for 30,000 more. Just wondering are agents allowed do this? How can they justify a 30,000 increase in the space of 6 weeks.

Thanks

Michael D Not Higgins

Why do you think they wouldn't be able to do this?

Thestones

Obviously the sale fell through for whatever reason and the market must be strong enough that they relisted for a higher price. Of course they can do that.

They can ask for 300,000 more if they want. They won't get it but they can ask.

caviardreams

I'm guessing it probably went sale agreed at that higher price, so I can understand their thinking in putting it back on for whatever it had previously achieved (albeit with the sale falling through)

Gumbo

Happened recently to a family member.
She was selling, sale agreed but the buyers pulled out after dragging their heels.

Went back up for sale and sold again within a week for 20k more.
Dublin 7 area.

HeidiHeidi

I see in last week's IT property section a 4-bed detached house in Ballyboughal up from €799K to €999K - that's up €200,000 or just over 25% :eek:

m'lady

When we were looking at houses last year, one house went up in price by 20k overnight! Of course agents can do this!

Samuel T. Cogley

It should be noted OP, that you're free to offer under asking.

mickmac76

Of course they can relist at a much greater price. <mod snip> If you are interested in the house then put in a bid. No need to bid the full increase, try about 5000 over the previus price and see what the vendor says.

Pkiernan

[quote="rachbert;102488230"? How can they justify a 30,000 increase in the space of 6 weeks.

Thanks[/quote]

This is Ireland, not North Korea.

mickmac76

They don't have to justify anything. Try some basic economics.

Samuel T. Cogley

TBH I think people are being very hard on the OP, and for no clear purpose. It's very easy to be a bit naive about these things and this is a great place to ask questions. I'm not quite sure why people felt the need to turn the screw quite so hard.

syndrome777

Samuel T. Cogley wrote: »

TBH I think people are being very hard on the OP, and for no clear purpose. It's very easy to be a bit naive about these things and this is a great place to ask questions. I'm not quite sure why people felt the need to turn the screw quite so hard.

true

I know a saw a couple of apartment I was eyeing, they were sale agreed....didn't go trough I guess, and are now back on the market and plus some .....cca 25-35K more then 3-4 moths ago (for a 2 bed apt )


very discouraging

Michael D Not Higgins

Samuel T. Cogley wrote: »

TBH I think people are being very hard on the OP, and for no clear purpose. It's very easy to be a bit naive about these things and this is a great place to ask questions. I'm not quite sure why people felt the need to turn the screw quite so hard.

I asked the OP for more information right away although they haven't followed up. I can imagine a situation for a new build where it's a fixed price where a 30k increase after a fall through of the previous sale would be a bit more suspect.

Nonetheless, closed until the OP returns with more information.