HELP! Need Advice with Buying a OLD Property. First time Buyer

CorkBob

Hello, This is my first time posting and would appreciate any advice on this matter. 
I recently found a property for sale in the country side with an old derelict farmhouse on it. It was inside my budget and having viewed the property and made contact with the auctioneer I decided to question as to whether there was an offers on it. There was so I made a better offer. At this stage I was told the owners were out of the country so it might be a week before I hear back. A week later my offer was rejected. I made a better offer. 2 weeks later that was rejected. I made one more offer before I was so close to the asking price that I would have to offer it. I offered the asking price. In my mind I was constantly bidding against myself. No one else had made a counter offer I was the only one offering.The day after I offered the asking price the Auctioneer rang back and said the owner had changed their mind and now wanted  [font=arial, sans-serif]€[/font] XXX for the property;an increase of   40% on top of the original asking price.
One aspect of this property that seemed coincidental was when I bought the Land Registry Folio online, I found the Land to be owned by someone with the same Family Name as the Auctioneer. I was told they were no relation! Even though it seemed like a very un-common name!
This isn't the first time I have had a stale taste after dealing with an auctioneer. I've heard alot of lies and even  been told things to turn me off  looking at some properties. Another house was sold without giving us the chance to counter offer. It's really disheartening. 
I know now I was too transparent and overly enthusiastic in my initial emails and maybe the auctioneer  has taken advantage of this? I studiedly thought if I was upfront and honest with them that maybe i could secure a quick sale. Not likely!

I think I just need to know is this common practice, to lure people with the pretense of a cheap property and then increase by a shocking 40% ??
If the property is owned by the auctioneer, is all this legal to ramp up price like that?
How are first time buyers meant to help regenerate rural Ireland and return old ruins buildings to their former glory when you get messed around so much by people who have no transparency and seem to have very little regulation?
How do these auctioneers sleep at night?
Anything you think might be good advice please say!

Lumen

The auctioneer is supposed to act for the vendor. You should work on the basis that they are the same person.

You are not bidding against yourself, you're biding against the vendor, in all cases. The sale can only proceed if you can agree on the price.

Figure out what the property is worth to you. If you can't do that then you're lost.

Does it require planning permission to bring back into use?

myshirt

Bob, ,you shot yourself in the foot by lowballing. Why oh why did it take you 3 offers to get to the asking price?

If it is worth the asking, bid the asking. This isn't a car you are buying on Done Deal. You are not going to be taken seriously lowballing and ball hopping like that, you'll just look stupid. Did you ask why you weren't given an opportunity to counteroffer on the other property?

4ensic15

Auctioneers will always try things on. In country areas you have to leave offers in place for months. Tell the auctioneer that you are about to put a deposit on something else and see what happens!

CorkBob

@Lumen......I was told it didn't need any further planning permission. 
@myshirt........If there was an opportunity to keep some money aside for myself that would help in the development then I think offering a bit less than the asking price isn't a bad thing. Clearly didn't happen but I do agree with If its wort the asking bid the asking
With the previous property I think it was a "Who you know" situation with a dash of Kin looking out for Kin
@ 4ensic15 ......I said something similar to Auctioneer the day before it was hiked by 40%

CorkBob

@Lumen......I was told it didn't need any further planning permission. 
@myshirt........If there was an opportunity to keep some money aside for myself that would help in the development then I think offering a bit less than the asking price isn't a bad thing. Clearly didn't happen but I do agree with If its wort the asking bid the asking
With the previous property I think it was a "Who you know" situation with a dash of Kin looking out for Kin
@ 4ensic15 ......I said something similar to Auctioneer the day before it was hiked by 40%

Lumen

CorkBob wrote: »

@Lumen......I was told it didn't need any further planning permission

Told by whom? The auctioneer?

davindub

Just look for something else. Unfortunately with this property they think you will pay the increased amount. Don't withdraw your offer, but start looking again.

CorkBob

Lumen wrote: »

CorkBob wrote: »

@Lumen......I was told it didn't need any further planning permission

Told by whom? The auctioneer?

Ha Ha, Yep........... :O

CorkBob

Lumen wrote: »

CorkBob wrote: »

@Lumen......I was told it didn't need any further planning permission

Told by whom? The auctioneer?

Ha Ha, Yep........... :O

Graham

davindub wrote: »

Just look for something else. Unfortunately with this property they think you will pay the increased amount. Don't withdraw your offer, but start looking again.

They may not think the OP will pay the increased amount but they probably do think that somebody will.