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Bidding while sale agreed

  • 13-04-2022 8:29am
    #1
    ILIKECOCONUTS
    Registered Users Posts: 36 ✭


    We are currently sale agreed on a property for several weeks, we have paid our booking deposit but have received no contracts to date. A house around the corner is now up for sale in better condition with lower levels of bidding. It is being sold by the same estate agent. Is it appropriate to ask can we place a bid on that property?

    Thanks

    Tagged:


Answers

  • #2
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    As long as you have yet to sign a contract, you can do as you wish, but of course the Auctioneer/vendor will reopen the property you are sale agreed on to new bids. There is also a risk the the auctioneer will inform the vendor of the second property that you have history of pulling out when sale agreed. That may work against you and in the end you lose both.



  • #3
    StevenToast
    Registered Users, Registered Users 2 Posts: 3,677 ✭✭✭StevenToast


    "A bird in the hand is better than 2 in the bush".......

    "Don't piss down my back and tell me it's raining." - Fletcher



  • #4
    MacDanger
    Registered Users, Registered Users 2 Posts: 2,802 ✭✭✭MacDanger


    Could you get your solicitor to place the bids on your behalf?



  • #5
    LunaLoo
    Registered Users, Registered Users 2 Posts: 122 ✭✭LunaLoo


    It's a sellers market out there now. It wouldn't be in agents interest either so they would likely inform both sellers. The way the market is right now I think you'd definitely be playing with fire.



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