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Estate Agent / Auctioneer games?

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    #32
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    Dav010 wrote: »
    It would certainly help your cause if you could provide some evidence of fake bids and corruption. Otherwise they are uncorroborated allegations.

    When we were bidding on second hand houses anytime I confirmed a verbal bid, auctioneers always asked could I follow it up in writing by email or text so keep note of bids for their records. I asked why and they said it’s for their professional body so if anybody complained about fake bids, they had proof. So I do think in this climate the bids are real. Auctioneers won’t make much money on a few k. But I do think sellers can be unreasonable. But again everyone thinks their house is nicer than the one down the road who got x amount for it last year so by default theirs is worth more. And if a seller is buying another house they do need a certain price. However this low asking price to get interest annoys me. Be honest about what you want or your wasting time.


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    #33
    Claw Hammer
    Registered Users Posts: 6,163 ✭✭✭Claw Hammer


    Wildly Boaring wrote: »

    In my experience the EA is not the one giving a week for underbidder to return, the seller is. 10k more is worth 100 to 200 to EA and a ball more work.

    The EA wants to sell your house but he also wants to get another potential sale after yous go through. A reputation for not getting full market value because of indifference is of no help.


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    #34
    WhichCar
    Registered Users Posts: 39 ✭WhichCar


    Just to update on this. Still not accepted or declined by vendor and only one short return phone call from EA last week. This is not the way to treat people who are offering you €100s of thousands. Feel like pulling my offer altogether now :(


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    #35
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    WhichCar wrote: »
    Just to update on this. Still not accepted or declined by vendor and only one short return phone call from EA last week. This is not the way to treat people who are offering you €100s of thousands. Feel like pulling my offer altogether now :(

    Pull it then, a guaranteed way to not get the property.

    Stick a time limit on it if you are genuinely considering walking away. This is the biggest sale a person ever makes so its only natural to not rush things and to get the best price possible.


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    #36
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    WhichCar wrote: »
    Just to update on this. Still not accepted or declined by vendor and only one short return phone call from EA last week. This is not the way to treat people who are offering you €100s of thousands. Feel like pulling my offer altogether now :(

    Make sure you tell auctioneer you are withdrawing the bids placed. That means auctioneer can use that bid as the starting point next them. I find sellers are willing to hang around for higher offers at the moment than risk “settling” for a lower offer.


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    #37
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    Dolbhad wrote: »
    Make sure you tell auctioneer you are withdrawing the bids placed. That means auctioneer can use that bid as the starting point next them. I find sellers are willing to hang around for higher offers at the moment than risk “settling” for a lower offer.

    Whilst you can withdraw a bid, the agent can still say that offer of X has previously been rejected, so there is no benefit to that really, other than to ruin relations with the agent.


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    #38
    WhichCar
    Registered Users Posts: 39 ✭WhichCar


    I wouldn't call it rushing things, to expect an answer one way or another 2 and a half weeks after putting in a bid. And yes, if they're looking to wait for months, absolutely that's their prerogative, but just let me know so I can look elsewhere ...


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    #39
    Dav010
    Registered Users Posts: 14,068 ✭✭✭✭Dav010


    WhichCar wrote: »
    I wouldn't call it rushing things, to expect an answer one way or another 2 and a half weeks after putting in a bid. And yes, if they're looking to wait for months, absolutely that's their prerogative, but just let me know so I can look elsewhere ...

    Why are you not looking elsewhere while bidding?.

    If you have not been told that your bid has been accepted, it’s fair to assume it has not been accepted. No great mystery.


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    #40
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    Bryan Hundreds Farmyard wrote: »
    Whilst you can withdraw a bid, the agent can still say that offer of X has previously been rejected, so there is no benefit to that really, other than to ruin relations with the agent.

    They can say it was rejected but doesn’t stop you from putting in the same bid or lower again. Whereas leaving the bid there and not withdrawing it leaves leverage for sellers next time. I’ve done this and haven’t had issues bidding on a different house with auctioneer and it was out solicitor who told us to ensure we say it like that to bids aren’t used.


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    #41
    Dav010
    Registered Users Posts: 14,068 ✭✭✭✭Dav010


    Dolbhad wrote: »
    They can say it was rejected but doesn’t stop you from putting in the same bid or lower again. Whereas leaving the bid there and not withdrawing it leaves leverage for sellers next time. I’ve done this and haven’t had issues bidding on a different house with auctioneer and it was out solicitor who told us to ensure we say it like that to bids aren’t used.

    Did you solicitor explain how this prevents the EA from saying your bid for X amount wasn’t accepted to the next bidder? Your bid isn’t binding, it really makes no difference to the next bidder if you leave it there or withdraw it, it is still the highest bid that was offered, and not accepted.


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    #42
    Wildly Boaring
    Registered Users Posts: 3,631 ✭✭✭Wildly Boaring


    WhichCar wrote: »
    Just to update on this. Still not accepted or declined by vendor and only one short return phone call from EA last week. This is not the way to treat people who are offering you €100s of thousands. Feel like pulling my offer altogether now :(

    Update from a different vendor's side.

    As per earlier posts we're selling.

    We gave a couple weeks at start of process for more bids etc especially as we had plenty new viewers.

    Once it settled to 2 bidders we actually agreed pretty quickly. The reason we agreed rather than draw it out was that one bidder put their money where their mouth is and paid for their engineer to come out and do his report. They followed this with a new offer and we accepted.


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    #43
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    Dav010 wrote: »
    Did you solicitor explain how this prevents the EA from saying your bid for X amount wasn’t accepted to the next bidder? Your bid isn’t binding, it really makes no difference to the next bidder if you leave it there or withdraw it, it is still the highest bid that was offered, and not accepted.

    Yes I understand that. Of course he can say the bid wasn’t accepted. But if I was bidding on a house and no other bids place at moment I would chance around the rejected bid rather than going in at a higher bid. Whereas if the bid was there you would have to go to a higher about.

    Of course it depends on timing. If it is a week after offer is withdrawn sellers won’t accept but if it’s two months down the line they can be more likely to accept.


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    #44
    Claw Hammer
    Registered Users Posts: 6,163 ✭✭✭Claw Hammer


    WhichCar wrote: »
    I wouldn't call it rushing things, to expect an answer one way or another 2 and a half weeks after putting in a bid. And yes, if they're looking to wait for months, absolutely that's their prerogative, but just let me know so I can look elsewhere ...

    You are not buying beans in a supermarket. You are negotiating for the purchase of a second hand house where it is normal that weeks and months pass at various stages. Most owners may have a price expectation and may well take quite some time to shift from it. people may well think a better offer will come when the weather change, the schools close/open etc. It can take some weeks of inactivity for people to adjust their expectations.


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    #45
    WhichCar
    Registered Users Posts: 39 ✭WhichCar


    So I put a deadline on the bid (as I was genuinely prepared to back out and focus my attentions elsewhere). They accepted :) To be fair though, I haven't been playing games with them and have been prompt with my bidding. I guess it's largely down to how the auctioneer handled it, if there hadn't been radio silence from them the last few weeks, I might have been less frustrated.


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    #46
    WhichCar
    Registered Users Posts: 39 ✭WhichCar


    Congrats Wildly_Boaring - best of luck with the sale and thanks for your reply :)


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    #47
    Wildly Boaring
    Registered Users Posts: 3,631 ✭✭✭Wildly Boaring


    WhichCar wrote: »
    So I put a deadline on the bid (as I was genuinely prepared to back out and focus my attentions elsewhere). They accepted :) To be fair though, I haven't been playing games with them and have been prompt with my bidding. I guess it's largely down to how the auctioneer handled it, if there hadn't been radio silence from them the last few weeks, I might have been less frustrated.


    Congrats.
    Hopefully it all goes through.

    Make sure you get an engineer in and be prepared to cut and run if there are major issues.


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