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Is the estate agent bluffing?

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    #32
    ThisRegard
    Closed Accounts Posts: 27,833 ✭✭✭✭ThisRegard


    ....... wrote: »
    When you bid on a house it's typically 4-6 months from bidding to keys. It's another few months before the price apears on the PPR.

    A house we sold appeared on the PPR about a week after the buyer got the keys.


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    #33
    jcon1913
    Registered Users Posts: 803 ✭✭✭jcon1913


    Jesusaves wrote: »
    Hi all,

    I am currently bidding on a house, i was the highest bidder but on the last day of business before christmas I got an email from estate agent to say they have an offer of €9000 more, I know they can't be trusted but i don't want to lose the house either, any way of knowing this is legit? I know it could be a phantom bidder, any advice greatly appreciated! :)

    Keep your cool. They probably have another bid because they could not afford to lose you as a serious buyer to a phanthom bidder. Tell them that was your final offer. You have to be prepared to lose the property if that was really your final offer and you're at the limit of what you're prepared to pay for the property.


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    #34
    davindub
    Registered Users Posts: 1,447 ✭✭✭davindub


    machiavellianme wrote: »
    Yes, and my above advice brought it to a swift end. Both of us bid over the asking price and it seemed like incessant 1k bid tennis so I made the suggestion. The other party agreed and we discussed it like adults until one party couldn't match the other. No need for the piggy in the middle (who still got their commission) but it ended in 15 minutes instead of 15 days/weeks.

    It may not work for every party but I haven't seen many other options suggested above bar just pay it or state its your final offer and walk away. Where's your novel suggestion apart from just squabbling over fictitious numbers?

    Yes a couple of Ea's push these.

    I would never agree to this. Aside from the possibility of a plant to drive up the price, and you should not really be in a rush to submit bids, there is no obligation on the vendor to accept the final price either. I'm glad it worked for you but it could easily have gone wrong.


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    #35
    machiavellianme
    Registered Users Posts: 12,576 ✭✭✭✭machiavellianme


    Plant / phantom bids, its all a bit cloak and dagger. If only you could cut the middle man altogether and deal solely with the seller once you have found the house of your dreams!

    Or just go for the open auction like is used for land or cattle marts. Then you pay market set price or walk away and the seller gets a final nod. The processing of houses with all these sale agreed, sold, phases and potentially fictitious bids really needs to be managed better.


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    #36
    Lumen
    Registered Users Posts: 31,080 ✭✭✭✭Lumen


    machiavellianme wrote: »
    Plant / phantom bids, its all a bit cloak and dagger. If only you could cut the middle man altogether and deal solely with the seller once you have found the house of your dreams!
    The seller is usually (possibly always) the source of the phantom bids.
    machiavellianme wrote: »
    Or just go for the open auction like is used for land or cattle marts. Then you pay market set price or walk away and the seller gets a final nod.
    That's a great idea! We could call these things "property auctions". :pac:


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