Auctioneer breaking his word

misshoney

About 6 weeks ago, myself and my partner offered 220k on a house. Our offer was refused, we left it and a few weeks later the auctioneer rang us back and said if we really wanted the house they would sell it for 230k. We came back offering 225k. Now the auctioneer is saying they will sell for 235k. I think its really bad saying you'll sell for one price and coming back a week later with a figure that is 5k more. Not sure what to do now. Any ideas?

Corkbah

he is simply trying to up his commission - walk away.

tell him you'll offer €215K on the next occasion, €225K is your offer and your final offer, you could always wait a bit longer and try save yourself another couple of grand (prices are still dropping at the moment)

if he comes back again - tell him you've reviewed it and now your offer is back at the original offer €220K ...or maybe €210K - maybe try bypass the auctioneer, try to find out the owners details and make them an offer direct.

Markcheese

Well it's not the auctioneer selling the house .... !! He (or she) is just am intermediary ....

godtabh

Corkbah wrote: »

he is simply trying to up his commission - walk away.

tell him you'll offer €215K on the next occasion, €225K is your offer and your final offer, you could always wait a bit longer and try save yourself another couple of grand (prices are still dropping at the moment)

Depends on where you live.

Offer what you think its worth/can afford with a deadline. If it isnt accepted walk away. Plenty of alternatives out there.

the groutch

make a final offer of €219k, with a time limit of 7 days.

Barr

Is there another bidder involved ?

djimi

Tell him the initial offer of €220k (or less, if you like) still stands and to either take it or stop wasting your time.

D3PO

djimi wrote: »

Tell him the initial offer of €220k (or less, if you like) still stands and to either take it or stop wasting your time.

you could argue the OP was wasting his time. I mean they made an offer the EA said 230k needed and they came back with a lower offer again.

I call it negotiation but if your going to accuse the EA of being a timewaster the OP by definition is too.

Any everybody knows I hate EA's on here but a bit of balance is only fair.

beeno67

I love the thread title. "Auctioneer breaking word". Shock horror.

If you want the house and are prepared to bid 230 then bid it. If not don't.

Pro Hoc Vice

misshoney wrote: »

About 6 weeks ago, myself and my partner offered 220k on a house. Our offer was refused, we left it and a few weeks later the auctioneer rang us back and said if we really wanted the house they would sell it for 230k. We came back offering 225k. Now the auctioneer is saying they will sell for 235k. I think its really bad saying you'll sell for one price and coming back a week later with a figure that is 5k more. Not sure what to do now. Any ideas?

Where has EA broken his word, he said I will sell for €230k you said no we will offer €225k. That deal is gone after you counter offered, he said he would sell for €230k you rejected it. Its called negotiation. But always remember until contracts signed each party can walk away from any agreed price.

i71jskz5xu42pb

Corkbah wrote: »

he is simply trying to up his commission - walk away.

That represents a 4.4% increase in the amount the auctioneer is taking home. My guess is that he'd rather finalise the sale and have his money rather than delay the sale for what is a small amount. More likely that its coming from the seller.

No Pants

Sounds like a really slow auction.

Koa Harsh Chinchilla

Koa Harsh Chinchilla wrote: »

That represents a 4.4% increase in the amount the auctioneer is taking home. My guess is that he'd rather finalise the sale and have his money rather than delay the sale for what is a small amount. More likely that its coming from the seller.

Pretty much this. He wants to close this as quickly as possible. Chances are the vendor is pulling strings. Ask loads of questions, if there are other bidders, is he in a position for a fast closing etc etc.

Then make a final date limited offer and be prepared to walk away. The entire game benefits the Agent / Vendor which I think is exceptionally unfair but what can you do.

Corkbah

Koa Harsh Chinchilla wrote: »

That represents a 4.4% increase in the amount the auctioneer is taking home. My guess is that he'd rather finalise the sale and have his money rather than delay the sale for what is a small amount. More likely that its coming from the seller.

if he initially said they will accept €230K and the OP increased their offer from €220K to €225K ....then he tells the OP that they'll accept €235K ...to me thats someone (most likely the auctioneer) messing

misshoney

Corkbah wrote: »

if he initially said they will accept €230K and the OP increased their offer from €220K to €225K ....then he tells the OP that they'll accept €235K ...to me thats someone (most likely the auctioneer) messing

Thats what I think aswell. There are no other bidders. Ill go 230,000 and forget about it after that I think.

Corkbah

misshoney wrote: »

Thats what I think aswell. There are no other bidders. Ill go 230,000 and forget about it after that I think.

I would say...stay firm... you have already gone up to €225K..... stay at €225K, let that be your limit ... tell him you cant stretch further. (use the 5K to go on holidays or buy some bits'n'pieces)

Markcheese

Corkbah wrote: »

I would say...stay firm... you have already gone up to €225K..... stay at €225K, let that be your limit ... tell him you cant stretch further. (use the 5K to go on holidays or buy some bits'n'pieces)

Put a time limit on it, say offer stands for a week or something...either keep looking at other houses or make sure you book other viewings... Possibly get partner to ring estate agent(ie whoever has had less contact with estate agent,less pally)
Auctioneer wants the sale,and a bird in the hand is worth two in the bush ect. Ect,