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Accepting a lower bid on a house

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  • 30-01-2014 4:25pm
    #1
    styer
    Registered Users Posts: 230 ✭✭


    Hi All,

    Just a very quick question. I am currently bidding on a house and the people selling are accepting a lower bid. The house is being sold through an auctioneer. It just popped into my head and I said I'd ask here, is there any rules that govern the sale of a property or item through an auctioneer, as in, can they accept a lower bid. There probably isn't but I just said I'd ask.

    Thank you


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    #2
    Idbatterim
    Registered Users Posts: 17,852 ✭✭✭✭Idbatterim


    of course not, i'm assuming the other buyers are cash buyers and ready to go?


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    #3
    styer
    Registered Users Posts: 230 ✭✭styer


    thought that, was just curious if there was...


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    #4
    Lin_Q
    Registered Users Posts: 4 ✭Lin_Q


    Hey Styer, I was in the same situation as you last October...a lower offer made by a cash buyer was accepted by the house owner even though I made an offer 6k higher...I consider this as a bad luck:P


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    #5
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    The buyer could be a cash buyer,
    or relative,
    or person known to the seller.
    Theres no law that says he must accept the highest bid.


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