Are auctioneers trying to pull a fast one

katiek102010

Been looking for about a year while waiting to get mortgage approval and we are now at the point of doing viewings.

Seen a couple of properties knocking around for the last year and we have arranged viewings next week.

Mysteriously they are with same auctioneer and they have all got offers on in the last few days of just below or above asking price

Is he pulling a fast one or just coincidence.

beauf

Best look at the property price register at realistic prices achieved.

Both boards or the media are screwed by sensationalism and people with an agenda. As are auctioneers. Do your own research.

There is still a shortage of housing, especially so in good locations. You have to decide what you are willing to pay and where. You set your own budget and criteria of acceptable.

Does it matter? Go to the viewings, see what you think, make an offer if you like what you see. The vendor will either accept or they won’t.

The auctioneer works for the vendor, not the buyer,.

Baby01032012

To add...there is no monetary benefit to the agent to increase the selling price..he gets 1%...plus as a licensed agent he is subject to an audit by the psra every 3 or so years, they will look at his records including his record of offers..

katiek102010

beauf wrote: »

Best look at the property price register at realistic prices achieved.

Both boards or the media are screwed by sensationalism and people with an agenda. As are auctioneers. Do your own research.

There is still a shortage of housing, especially so in good locations. You have to decide what you are willing to pay and where. You set your own budget and criteria of acceptable.

My own thinking if I like the place would be more in lines with PPI however the supposed bid is nearly 25k over

beauf

katiek102010 wrote: »

My own thinking if I like the place would be more in lines with PPI however the supposed bid is nearly 25k over

Depends on the place.

Some have dropped. But I know one place gone sale agreed for at least 30k over. But I think it's affordable and in a good location.

Ronin247

katiek102010 wrote: »

Been looking for about a year while waiting to get mortgage approval and we are now at the point of doing viewings.

Seen a couple of properties knocking around for the last year and we have arranged viewings next week.

Mysteriously they are with same auctioneer and they have all got offers on in the last few days of just below or above asking price

Is he pulling a fast one or just coincidence.

My gut instinct is he is pulling a fast one. If it was one property it could be coincidence, two properties weird any more than 2 properties.......

Sarn

Were they realistic asking prices? Some EAs deliberately use lower asking prices to try and generate interest.

beauf

Sarn wrote: »

Were they realistic asking prices? Some EAs deliberately use lower asking prices to try and generate interest.

I didn't realise this was a thing. But I recently saw this in action and working.

Cash_Q

Houses around us are going for 20k+ over asking, it seems as though people have their AIP and want to buy fast before they lose it with all the uncertainty around employment. Houses going Sale Agreed within a week of advertising, after the first viewing etc, it all seems to be moving very quickly according to multiple agents around here.

ToxicPaddy

Had the same carry on a couple of years ago with an EA, saw a lovely house, asking price just near the top end of our budget but it needed a bit of work that could be done over time. Approx 50k of work needed but mostly cosmetic stuff.

There was an offer for 20k below asking and that was put in 6 weeks before, no further viewings since. So we saw it twice and put in an offer €10k below asking with the premise that it would be there for the week and offer expires on Friday and that we were looking at other places.

Low and behold 24 hours later an asking price offer comes in, just 24 hours before our offer expired. He contacted me to tell me and tried his best to get us into a bidding war.

I told him straight away, we are done and he was using every excuse under the sun to get us to change our mind. Our offer was pulled and that was it.

Was contacted about half a dozen times more by the same EA trying to get me to put in another higher bid, told him we were not getting into a bidding war.

Got a friend to call and enquire about it out of curiosity and the EA informed them the house had an offer 5k under asking.

The house sat for 2 more months on the market and according to the property price index a few months later, the house sold for 20k under the original asking. So he ended up costing the seller 10k.

Pure conman tbh, looked at 3 other houses in the area but never went near that EA again.

katiek102010

Sarn wrote: »

Were they realistic asking prices? Some EAs deliberately use lower asking prices to try and generate interest.

No well over PPI for the area

katiek102010

ToxicPaddy wrote: »

Had the same carry on a couple of years ago with an EA, saw a lovely house, asking price just near the top end of our budget but it needed a bit of work that could be done over time. Approx 50k of work needed but mostly cosmetic stuff.

There was an offer for 20k below asking and that was put in 6 weeks before, no further viewings since. So we saw it twice and put in an offer €10k below asking with the premise that it would be there for the week and offer expires on Friday and that we were looking at other places.

Low and behold 24 hours later an asking price offer comes in, just 24 hours before our offer expired. He contacted me to tell me and tried his best to get us into a bidding war.

I told him straight away, we are done and he was using every excuse under the sun to get us to change our mind. Our offer was pulled and that was it.

Was contacted about half a dozen times more by the same EA trying to get me to put in another higher bid, told him we were not getting into a bidding war.

Got a friend to call and enquire about it out of curiosity and the EA informed them the house had an offer 5k under asking.

The house sat for 2 more months on the market and according to the property price index a few months later, the house sold for 20k under the original asking. So he ended up costing the seller 10k.

Pure conman tbh, looked at 3 other houses in the area but never went near that EA again.

Think that's what is going on myself, however agent is popular and over 50% of the houses in area are with them 😭😭😭