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Bidding on a house

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  • 26-09-2017 5:30pm
    #1
    desperate housewife
    Registered Users Posts: 36 ✭


    Hi I was wondering if anyone has experience with bidding on a house. I viewed a house yesterday that had an offer of €2000 below asking price on it. The estate agent told me that this offer was rejected by the seller. I rang the estate agent today and he said there is a bid on the house of €20,000 above asking price. I was wondering if it would be typical for someone to place such a large bid on a house. And also we were wondering does the agent have to be truthful about it, is there any chance there's no bid and he's just saying that to us? Thanks for any advise!


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    #2
    godtabh
    Moderators, Science, Health & Environment Moderators Posts: 23,218 Mod ✭✭✭✭godtabh


    desperate housewife wrote: »
    Hi I was wondering if anyone has experience with bidding on a house. I viewed a house yesterday that had an offer of €2000 below asking price on it. The estate agent told me that this offer was rejected by the seller. I rang the estate agent today and he said there is a bid on the house of €20,000 above asking price. I was wondering if it would be typical for someone to place such a large bid on a house. And also we were wondering does the agent have to be truthful about it, is there any chance there's no bid and he's just saying that to us? Thanks for any advise!

    Could be some one looking for a quick sale


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    #3
    zl1whqvjs75cdy
    Closed Accounts Posts: 4,042 ✭✭✭zl1whqvjs75cdy


    Is it near Dublin?


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    #4
    desperate housewife
    Registered Users Posts: 36 ✭desperate housewife


    Yes it's a commuter town to dublin. Could be the estate agent exaggerate the bid or does he have to say the correct amount?


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    #5
    Cuddlesworth
    Registered Users Posts: 13,995 ✭✭✭✭Cuddlesworth


    desperate housewife wrote: »
    Could be the estate agent exaggerate the bid or does he have to say the correct amount?

    He is meant to be honest about it but proving otherwise is pretty impossible.

    If you want to spend 20k over on the house then put in your own offer, otherwise drop it or leave your lower bid on the table. If its a phantom bid and their is no other interest then you will get a phone call in a few weeks. Otherwise somebody else will get the house at 20k over asking.


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    #6
    Askthe EA
    Registered Users Posts: 724 ✭✭✭Askthe EA


    It may be what I like to call a killer bid. People know what they want to spend, know what the house is worth to them and bid high to prevent anybody else viewing and getting involved. It kills any momentum.

    I'm trying to buy at the moment myself so work on both sides of the deal. We increased the existing offer by 10k for the very same reason.


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