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Played by estate agent or seller

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  • 09-05-2017 8:36am
    #1
    phil1nj
    Registered Users Posts: 716 ✭✭✭


    So..

    Two weeks ago I went looking at a house. Liked the property and put in an offer (I am mortgaged approved and have the balance in cash and from the sale of a property that will close in about 8 weeks or so).

    I asked the EA if the buyers had any preference when it came to buyers i.e. cash buyer over anyone in a chain etc. The EA said no and that the sellers were in no particular hurry with the sale. I was also told that there were two other bidders interested in the property who had bid the price well up over the initial asking price.

    A week later I was told that my offer was no longer the highest offer on the table so I told the EA to come back to me if and when either of the two other bidders up their offer as I would either match it or beat it.

    Heard nothing for 3 days and then found out through a third party that the property had gone sale agreed 3 days previously.

    The EA was contacted and this is where things get a bit murky. They informed me that the sellers now wanted a cash buyer (one of the other bidders had a property to sell that had just cone on the market, the other one were was a first time buyer who were ready to go). They needed a quick sale and went with the FTB. I asked why I wasn't told this when I initially enquired about the buyers preference. The EA had no answers for me and said that they could only control so much. They also said that the other bidder had offered over 8K more than the FTB but the sellers still said no (??).

    My question is this: myself and the other bidder appear to have bid up the final value of the property even though we were never going to get the property based on the sellers preference. This doesn't sound or feel right but I'm not sure exactly what this is called other than dodgy/immoral business practice by either the seller or the EA.

    Anyone any similar experiences or advice? The property is gone now so that's that but I'd like to know if there is anything I can do.


Comments

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    #2
    amcalester
    Closed Accounts Posts: 4,121 ✭✭✭amcalester


    Nothing you can do, looks like the sellers played the three of you against each other and then went with the quickest sale.

    I wouldnt want to play them in a game of poker.


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    #3
    Seth Brundle
    Moderators, Politics Moderators Posts: 39,763 Mod ✭✭✭✭Seth Brundle


    phil1nj wrote: »
    I'd like to know if there is anything I can do.
    Yeah, move on.
    Some estate agents will tell you all sorts of stuff. Don't get hung up on it to be honest. The process is stressful enough without getting worked up over an EA.

    When I was buying, one EA couldn't be bothered calling me about bids on a house (there was just us and another couple bidding). Very frustrating and nothing that I could do about it.


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    #4
    Parchment
    Closed Accounts Posts: 2,203 ✭✭✭Parchment


    kbannon wrote: »
    Yeah, move on.
    Some estate agents will tell you all sorts of stuff. Don't get hung up on it to be honest. The process is stressful enough without getting worked up over an EA.

    When I was buying, one EA couldn't be bothered calling me about bids on a house (there was just us and another couple bidding). Very frustrating and nothing that I could do about it.


    Agree with everything in this post. Its a really stressful time so avoid getting worked up about situations like this/ Its really not worth it. I spent so much time trying to figure out what sellers and EA's were up to when we were buying but its pointless.
    Know your price for every house you start bidding on. If an EA doesnt call you back and you want an answer from them - call them because if you have your limit in your head you're safe from all the EA's mind games!


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