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Multiple bids of different properties

  • 28-09-2019 08:18AM
    #1
    [Deleted User]
    Posts: 0 ✭


    Hi all

    So selling a house and was happy to go sale agreed with a cash bidder as they were happy with house and location. An underbidder wanted to go higher but that bidder has bid in another house with the same estate agent and probably multiple others. Would you trust this underbidder as I feel that bidder could pull the plug at the last minute if something else took their fancy.

    What's your thoughts on it


Comments

  • #2
    Mike3549
    Registered Users, Registered Users 2 Posts: 1,117 ✭✭✭Mike3549


    Is the underbidder mortgage buyer? How much extra are they willing to pay? Based on the information you provided, i would go with a cash buyer.


  • #3
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Mike3549 wrote: »
    Is the underbidder mortgage buyer? How much extra are they willing to pay? Based on the information you provided, i would go with a cash buyer.

    Yeah mortgage bidder, not sure but last they bid it was 3k. Thinking I could waste time there and lose the cash bidder so edging that way myself


  • #4
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    [Deleted User] wrote: »
    Yeah mortgage bidder, not sure but last they bid it was 3k. Thinking I could waste time there and lose the cash bidder so edging that way myself

    For €3k, I wouldn’t think twice about accepting the cash bid, provided they are ready to move quickly to complete the sale. That is the advantage of cash buyers, no bank to hold up the sale. Inform the buyer, their lower bid is being accepted contingent on there being no avoidable delays.


  • #5
    ZX7R
    Registered Users, Registered Users 2 Posts: 3,393 ✭✭✭ZX7R


    I'd accept the cash bid.
    Plus don't worry if the same people have multiple bids on other houses, people have to do this in hope they will get one of them.


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