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Enacted legislation about disclosure of bids

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  • 17-05-2016 2:06pm
    #1
    A_Sober_Paddy
    Closed Accounts Posts: 4,221 ✭✭✭


    Hey all

    Was chatting to a mate(mortgages in the bank) and he said some legislation was enacted in recent history about bids having been made available on request, but said his ever seen it used...

    Does this legislation exist and what is it?


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    #2
    SarahMollie
    Closed Accounts Posts: 2,843 ✭✭✭SarahMollie


    Apparently they can be audited after a sale has closed. I don't know if this means an individual can go and ask to see the records, or if you have to make a complaint to a specific body and they investigate on your behalf.


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    #3
    wench
    Registered Users Posts: 1,646 ✭✭✭wench


    He was probably thinking of the legislation that covered the setting up of the Property Services Regulatory Authority.
    http://www.npsra.ie/website/npsra/npsraweb.nsf/page/whatwedo-en

    As far as I know, the estate agent must keep a record of all bids made. The bidders/public cannot request to see this, but if they feel the agent is not acting honestly, they can complain to the PSRA who can view it and investigate the issue.


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