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House

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  • 29-03-2012 10:03pm
    #1
    ziggystarman
    Closed Accounts Posts: 4 ✭


    Here's the situation: Two couples, good friends, both looking to buy a house in the same general area.

    Couple A, lets call them, see a house that they like and are in a bidding war with some other interested parties.

    Couple B, lets call them, come across another house just new to the market, casually see it, then make an appointment with the estate agent for a viewing appointment and proceed to view the house. They love the house and decide to put in a bid the next morning.

    The next morning, couple B hear that couple A have pulled out of the house they were in the bidding war on and are now interested in three other houses - one of which happens to be the house couple B are about to bid on.

    Couple B decide to let couple A know that they have had an official viewing and are just about to put in a bid. Couple A respond, saying that they have casually viewed the house, love it, have an official viewing appointment later that day and plan to put in a bid also.

    Couple A proceed to officially view the house and also put in a bid.

    Your take on this please..........


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    #2
    [Deleted User]
    Posts: 14,344 ✭✭✭✭ [Deleted User]


    The couple that bid higher, get the house?

    I don't get it? What's the issue? Maybe I'm missing something, but if the other couple found three houses in the same general area, I'm gonna take a wild guess and assume that all the houses can't be too different, surely?

    What is it you like about the house? Is it not something you can do to one of the other houses in the area?

    You're buying a very large concrete block to live inside of. I wouldn't go losing friends over it, and I sure as feck wouldn't start a bidding war. Have a sit-down and discuss it. Plead your cases to each other and only one of you proceed with it. If you start a bidding war, you'll get petty and only the people selling the house benefit (it also may turn nasty and you'll lose a friend/s).


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    #3
    StillWaters
    Closed Accounts Posts: 1,799 ✭✭✭StillWaters


    Its a free world, nothing to stop them (except sense) from bidding against each other.

    I don't think either couple can be annoyed with the other, as there was no bid in at the time of the conversation, and there is a shortgage of keenly priced good houses out there at the moment.

    It must be some house though!


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    #4
    killers1
    Registered Users Posts: 1,443 ✭✭✭killers1


    Both couples meet up and agree to write down the highest figure they are genuinely willing to go to... the couple with the lowest figure agree to walk away...


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    #5
    ted1
    Registered Users Posts: 23,520 ✭✭✭✭ted1


    Yeah, they should do the above could save either couple several thousand.


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    #6
    xper
    Registered Users Posts: 1,068 ✭✭✭xper


    killers1 wrote: »
    Both couples meet up and agree to write down the highest figure they are genuinely willing to go to... the couple with the lowest figure agree to walk away...
    Note sure that is a great idea. The temptation for each couple to lie and inflate their top figure in this non-binding scenario could lead to a lot of finger pointing.

    OP,
    I would suggest either agreeing/accepting to proceed as rival bidders in a free market in which case the 'winner' will end up with the house but having probably paid a bit more than they might have OR get together and toss a coin and the loser pulls out (with perhaps the winner agreeing to inform them if they subsequently have their highest bid they're prepared to go to rejected).

    Not sure what you think the distinction between "offically viewing" and "casually viewing" a property is and what rights one confers over the other to the viewer. "We saw it first" just doesn't apply in this case imho.


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    #7
    killers1
    Registered Users Posts: 1,443 ✭✭✭killers1


    xper wrote: »
    killers1 wrote: »
    Both couples meet up and agree to write down the highest figure they are genuinely willing to go to... the couple with the lowest figure agree to walk away...
    Note sure that is a great idea. The temptation for each couple to lie and inflate their top figure in this non-binding scenario could lead to a lot of finger pointing.

    OP,
    I would suggest either agreeing/accepting to proceed as rival bidders in a free market in which case the 'winner' will end up with the house but having probably paid a bit more than they might have OR get together and toss a coin and the loser pulls out (with perhaps the winner agreeing to inform them if they subsequently have their highest bid they're prepared to go to rejected).

    Not sure what you think the distinction between "offically viewing" and "casually viewing" a property is and what rights one confers over the other to the viewer. "We saw it first" just doesn't apply in this case imho.

    I said 'genuinely' for a reason.....


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    #8
    xper
    Registered Users Posts: 1,068 ✭✭✭xper


    killers1 wrote: »
    I said 'genuinely' for a reason.....
    Yeah, actually I didn't explain my thinking very well ....
    Aside from the temptation to add a few grand onto the figure ("sure they'll never know. I like Pat but he's a bit naive soemtimes"), I would foresee a problem where even if both couples do genuinely write down the honest truth, the losing couple will always suspect that the winner's figure was inflated and may even make the accusation there and then and there you go, friendship damaged and neither even has the house yet. The coin toss or 'do nothing' just seems more clear cut.


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    #9
    ziggystarman
    Closed Accounts Posts: 4 ✭ziggystarman


    Thanks for the replies guys. The house is very special and there are no others really of this calibre in the area in the price bracket - these houses don't come around often at this price :-(

    Obviously bidding against each other is a no win situation. Both couples have potentially similar buying power and neither couple wants to stand down.

    When I say casually viewed the house I mean just finding where it is and having a look from the roadside kinda thing - whereas the offical viewing was with the estate agent. Couple B had their offical viewing and had decided to place a bid before couple A had their offical viewing or placed a bid.

    Should the simple 'we saw it first' dibs rule not come into play here though? We are good friends after all........


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    #10
    rainbowtrout
    Registered Users Posts: 15,382 ✭✭✭✭rainbowtrout


    ziggystarman wrote: »
    Couple B decide to let couple A know that they have had an official viewing and are just about to put in a bid. Couple A respond, saying that they have casually viewed the house, love it, have an official viewing appointment later that day and plan to put in a bid also.

    Couple B proceed to officially view the house and also put in a bid.

    Your take on this please..........


    That realistically means Couple B have decided to call dibs on the house because they saw it first, and Couple A have said to hell with that, it's a free market and we are entitled to bid on it if we want.

    Assuming OP that you are one half of one of the couples, personally I don't see why either couple should give up their right to bid on the house. Another bidder may come along in the meantime and outbid both couples. I don't see why either couple should not bid just because the other couple wants it.


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    #11
    killers1
    Registered Users Posts: 1,443 ✭✭✭killers1


    Should the simple 'we saw it first' dibs rule not come into play here though? We are good friends after all........[/Quote]

    I take it you haven't got around to asking the other couple that question yet then? May the best couple win.....


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    #12
    ziggystarman
    Closed Accounts Posts: 4 ✭ziggystarman


    No communication has taken place between the couples since couple A informed couple B that they too now have a bid in - all communication was via email.

    Couple B realise that bidding against friends is not wise, but are not too happy about being the ones to stand down......... is it just tough luck, business is business, or do couple B have a right to be a bit disappointed about the outcome of the whole thing?


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    #13
    killers1
    Registered Users Posts: 1,443 ✭✭✭killers1


    ziggystarman wrote: »
    No communication has taken place between the couples since couple A informed couple B that they too now have a bid in - all communication was via email.

    Couple B realise that bidding against friends is not wise, but are not too happy about being the ones to stand down......... is it just tough luck, business is business, or do couple B have a right to be a bit disappointed about the outcome of the whole thing?

    I can see why couple B may feel a bit disappointed but if Couple A don't see that then it seems to be every couple for themselves....I think if it gets to the point that you are the only 2 parties bidding, a coin toss may be the way to go....... 'Best out of three, anyone?'.... Best of luck!


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    #14
    rainbowtrout
    Registered Users Posts: 15,382 ✭✭✭✭rainbowtrout


    ziggystarman wrote: »
    No communication has taken place between the couples since couple A informed couple B that they too now have a bid in - all communication was via email.

    Couple B realise that bidding against friends is not wise, but are not too happy about being the ones to stand down......... is it just tough luck, business is business, or do couple B have a right to be a bit disappointed about the outcome of the whole thing?

    Well Couple B can be disappointed all they want, but what if Couple A were to say 'we won't make a bid because Couple B saw it first', then Couple B faff about for a few months and decide in the end to withdraw or get outbid by Couple C, at a price that Couple A could have afforded?

    Assuming you are Couple B OP. If that is true and don't think it's wise well so be it, but Couple A don't have a problem putting in the bid and getting the house they want despite the fact that you/Couple B saw it first. They are not going to make any apologies about it, so if you want the house bid for it.


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    #15
    ziggystarman
    Closed Accounts Posts: 4 ✭ziggystarman


    //"Couple A don't have a problem putting in the bid and getting the house they want despite the fact that you/Couple B saw it first"//

    We'll that's what couple B are disappointed about. If the situation was reversed, couple B would have stood down because they would have thought it the right thing to do givin the way everything unfolded.

    Now couple B are in a situation they did not want to be in and the only options they have are to bid or not bid - a coin flip ain't going to do it me thinks...


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    #16
    smallerthanyou
    Registered Users Posts: 1,025 ✭✭✭smallerthanyou


    Personally I think people get too emotional about houses and house buying, which is understandable given the nature of the purchase, but you still have to think about it as what it is - the biggest financial decision you have to make so don't bring the friendship into it. I think the two couples should agree that they will no longer talk to each other about this property. 100% blackout on it but maintain the friendship as always. Treat it as if it was anonymous bidders you were against. Then may the best couple win outside that.

    TBH I think the "losing" couple will find something just as nice for cheaper down the line.......


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    #17
    Sala
    Registered Users Posts: 1,494 ✭✭✭Sala


    I think couple B should bid on the house and not discuss it with couple A anymore. Couple B should treat it as if the bidder was anonymous and bid what they want with a view of going to a maximum bid and sticking with that.
    I don't agree with meeting them and finding out their bid and the highest wins. For example, if I am couple A and I say 300k, you say 290k as the maximum, you withdraw and then I put in a starting bid of 250k and get it, you will be annoyed as you could have gotten it for you budget.

    It may be pushing up the price for the "winning couple" but that could happen anyway. Couples C, D and E could show up and throw a spanner in the works and neither of you get it!! Couples A & B need to approach it on their own, not talk about it, and agree to be happy for the couple who get it, if they get it at all.


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    #18
    hmmm
    Registered Users Posts: 11,205 ✭✭✭✭hmmm


    ziggystarman wrote: »
    Two couples, good friends,
    Clearly the second couple have a different opinion of your relationship if they are willing to get into a bidding war against you. Implicitly they are saying that they are willing to try and defeat your attempt to secure the property. Time to find some real friends.


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    #19
    Zamboni
    Registered Users Posts: 4,305 ✭✭✭Zamboni


    ziggystarman wrote: »
    Here's the situation: Two couples, good friends, both looking to buy a house in the same general area.

    Couple A, lets call them, see a house that they like and are in a bidding war with some other interested parties.

    Couple B, lets call them, come across a house just new to the market, casually see it, then make an appointment with the estate agent for a viewing appointment and proceed to view the house. They love the house and decide to put in a bid the next morning.

    The next morning, couple B hear that couple A have pulled out of the house they were in the bidding war on and are now interested in three other houses - one of which happens to be the house couple B are about to bid on.

    Couple B decide to let couple A know that they have had an official viewing and are just about to put in a bid. Couple A respond, saying that they have casually viewed the house, love it, have an official viewing appointment later that day and plan to put in a bid also.

    Couple B proceed to officially view the house and also put in a bid.

    Your take on this please..........

    I have highlighted the error for future reference.


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