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False Bids (from a seller's perspective)

  • 19-06-2018 4:44pm
    #1
    kormak
    Registered Users, Registered Users 2 Posts: 887 ✭✭✭


    Has anyone ever experience the ordeal oof false bidding in the housing market?

    Really annoyed!
    Selling our home and have had it on the market for some months.
    A potential buyer showed serious interest... had 2 viewings and decided to make an offer. It was a good 15k below our asking price, but we decided to be logical about selling at a reduced price and accepted their offer.
    EA was trying to convince us they weren't going to offer anymore and then tried telling us they were even interested in another one of their houses.
    So we agreed and accepted, got ourselves lined up to make the sale and 3 days later we get a call to say they 'can't stand over their offer' and essentially removing it... absolute timewasters!! It's not time to give these EA the bullet...


Comments

  • #2
    Homer
    Registered Users, Registered Users 2 Posts: 4,370 ✭✭✭Homer


    Well the first thing the EA should be doing is asking for proof of funds so they know that the buyer is genuine. Ask them to show you a redacted copy if you like but they may not be obliged to show you.
    Frustrating for sure!


  • #3
    Claw Hammer
    Registered Users, Registered Users 2 Posts: 6,541 ✭✭✭Claw Hammer


    Did you set the original asking price on your own did the Estate Agent have an input into it?


  • #4
    Zenify
    Registered Users, Registered Users 2 Posts: 862 ✭✭✭Zenify


    I viewed a property before I got mortgage approval, the estate agent was aware of this but still put pressure on me to bid. I obviously didn't, but I assume this was to put up the price for the other bidders.


  • #5
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    kormak wrote: »
    Has anyone ever experience the ordeal oof false bidding in the housing market?

    Really annoyed!
    Selling our home and have had it on the market for some months.
    A potential buyer showed serious interest... had 2 viewings and decided to make an offer. It was a good 15k below our asking price, but we decided to be logical about selling at a reduced price and accepted their offer.
    EA was trying to convince us they weren't going to offer anymore and then tried telling us they were even interested in another one of their houses.
    So we agreed and accepted, got ourselves lined up to make the sale and 3 days later we get a call to say they 'can't stand over their offer' and essentially removing it... absolute timewasters!! It's not time to give these EA the bullet...


    Some clients bid on multiple properties from several estate agents. Others bid and suffer from bidders remorse and withdraw. They're all messers. The EA is in a difficult situation here. If they told you not to accept their offer because he thought they were messing, you would be upset if you found they subsequently bought another property.


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