Crazy bidding just for fun !

handlemaster

Has anyone done this? I. E. Just bid on properties with no intention of ever buying. There must be people who just out of badness/ s*** sturring do this

Gumbo

handlemaster wrote: »

Has anyone done this? I. E. Just bid on properties with no intention of ever buying. There must be people who just out of badness/ s*** sturring do this

I’ve heard of it as rumors fro people before. Getting friends to make bids etc

I’ve also heard of people looking to buy, and they send a few of their mates around on viewing day and site next door drinking cans on the road with car radios blaring.

All rumors though.

iamwhoiam

handlemaster wrote: »

Has anyone done this? I. E. Just bid on properties with no intention of ever buying. There must be people who just out of badness/ s*** sturring do this

Probably the same people who dial 999 for fun . Idiots

johnnyskeleton

handlemaster wrote: »

Has anyone done this? I. E. Just bid on properties with no intention of ever buying. There must be people who just out of badness/ s*** sturring do this

Youd need to go to viewings and engage with the estate agent. All of which takes time and is hassle. There are easiwr ways to entertain yourself, I wouldve thought.

10pennymixup

I've heard of people "spotting" property. Mainly investors bidding on several properties at the same time with no real intention of buying, in case their chosen one falls through. Pain in the a*se.

In auctions sometimes to try drive up the price on purpose for the vendor

Never heard of anyone doing it for pure divilment though.

Edgware

I have heard of friends sticking in separate bids just to make sure the estate agent is telling everyone the same story. Amazing how often the shysters are caught out

Liam McPoyle

I've spoken to a couple of estate agents lately and they have all said that they would only accept a bit along with proof of mortgage so someone bidding on a house "for the craic" is most likely nonsense.

Gumbo

johnnyskeleton wrote: »

Youd need to go to viewings and engage with the estate agent. All of which takes time and is hassle. There are easiwr ways to entertain yourself, I wouldve thought.

You’d need an internet connection for most of them though

EvolvedApe

Low bids are more fun.

Sleeper12

handlemaster wrote:

Has anyone done this? I. E. Just bid on properties with no intention of ever buying. There must be people who just out of badness/ s*** sturring do this

You need to prove you are a serious bidder. I was bidding on a property last year and had to show bank statements proving that I had cash to be a cash buyer or something from the lender stating that you had mortgage approval in principle before any bids were accepted

paw patrol

kceire wrote: »

I’ve heard of it as rumors fro people before. Getting friends to make bids etc

I’ve also heard of people looking to buy, and they send a few of their mates around on viewing day and site next door drinking cans on the road with car radios blaring.

All rumors though.

gave a friend a lift to a house in swords on a sat night once (at 3am) there was a viewing the next day . about 13-15years ago
he emptied bags of empty cans and bottles all over the front garden in the hope of driving buyers away.

didn't work he was still outbid. we were about 25 and stupid.

Atlantic Dawn

Actual bids should be proven and full audit trail available to seller and all bidders, current system is open to massive fraud.

fg1406

Business Cat wrote: »

I've spoken to a couple of estate agents lately and they have all said that they would only accept a bit along with proof of mortgage so someone bidding on a house "for the craic" is most likely nonsense.

I’ve never been asked for proof of AIP/mortgage when I was bidding on properties.

Sarn

fg1406 wrote: »

I’ve never been asked for proof of AIP/mortgage when I was bidding on properties.

Similar story here. Only one out of six asked for proof of funds when we started bidding. We offered it to the others but they said it was ok. Personally I’d have preferred if they had asked for proof as it might have removed any time wasters i.e. those bidding with theoretical funds.

LirW

Business Cat wrote: »

I've spoken to a couple of estate agents lately and they have all said that they would only accept a bit along with proof of mortgage so someone bidding on a house "for the craic" is most likely nonsense.

We bought a year ago and in the whole process we weren't asked once for proof of funds, which I found pretty odd.

Victor

Sleeper12 wrote: »

You need to prove you are a serious bidder. I was bidding on a property last year and had to show bank statements proving that I had cash to be a cash buyer or something from the lender stating that you had mortgage approval in principle before any bids were accepted

In such circumstances be careful that you don't reveal the actual amount.

c.p.w.g.w

kceire wrote: »

I’ve heard of it as rumors fro people before. Getting friends to make bids etc

I’ve also heard of people looking to buy, and they send a few of their mates around on viewing day and site next door drinking cans on the road with car radios blaring.

All rumors though.

I know someone who did this, instead he actually just paid a few local wineo's

Sleeper12

Victor wrote:

In such circumstances be careful that you don't reveal the actual amount.

I've been at this 30 years. I wouldn't make a mistake like that

Graham

Mod Note

Thread moved, new charter applies.

pleas advice

10pennymixup wrote: »

I've heard of people "spotting" property. Mainly investors bidding on several properties at the same time with no real intention of buying, in case their chosen one falls through. Pain in the a*se.

you should check out the accomadation forum... :rolleyes:

10pennymixup

pleas advice wrote: »

you should check out the accomadation forum... :rolleyes:

This was moved from the A+P forum.

Balanadan

pleas advice wrote: »

you should check out the accomadation forum... :rolleyes:

10pennymixup wrote: »

This was moved from the A+P forum.

pwned

pleas advice

Balanadan wrote: »

pwned

unlike all those houses you're bidding on?

I know somebody who bid on a house before they had mortgage approval from the bank. Another party had opened the bidding and outbid the person I know, to the point where he dropped out of the running. That person paid more for the house than they ever should have as the person I know had no right to be bidding with no cash/mortgage approval. The system is appalling, but the person who won the bidding war will never know and is probably delighted with their purchase, even though they spent far more money than was necessary.

PS. The person I know wasn't doing this to be spiteful, was just hoping to win the bid in the time it took to get mortgage approval but it then went over their budget so was fruitless in the end.