Auctioneers Codes of Practice??

Corkman11

Hi All

Looking for some advice. I had put an offer on a property some months back. I was told by the auctioneer it was the first offer and over a space of the last 6 weeks there was a few counter offers , each time I increased my offer and for the last 10 days I was the highest bidder. Then on Tuesday of this week I got a voicemail from the auctioneer to say a higher offer had been received. I didn't reply as I reflected and decided on my next steps. Then today the auctioneer rang me to say his colleague had received and accepted another higher offer yesterday and informed me that the property was sold ! Surely there has been some code of good practice breached here and I'm wondering have I some legal case here as this whole thing smells to me. Had a lot of time put into this and really disappointed to get f..ked around like this. Appreciate advice

whiterebel

Better suited here, I think. Please observe the forum charter

listermint

Corkman11 wrote: »

Hi All

Looking for some advice. I had put an offer on a property some months back. I was told by the auctioneer it was the first offer and over a space of the last 6 weeks there was a few counter offers , each time I increased my offer and for the last 10 days I was the highest bidder. Then on Tuesday of this week I got a voicemail from the auctioneer to say a higher offer had been received. I didn't reply as I reflected and decided on my next steps. Then today the auctioneer rang me to say his colleague had received and accepted another higher offer yesterday and informed me that the property was sold ! Surely there has been some code of good practice breached here and I'm wondering have I some legal case here as this whole thing smells to me. Had a lot of time put into this and really disappointed to get f..ked around like this. Appreciate advice

You never replied.

Close case.

Fighting Tao

Corkman11 wrote: »

Hi All

Looking for some advice. I had put an offer on a property some months back. I was told by the auctioneer it was the first offer and over a space of the last 6 weeks there was a few counter offers , each time I increased my offer and for the last 10 days I was the highest bidder. Then on Tuesday of this week I got a voicemail from the auctioneer to say a higher offer had been received. I didn't reply as I reflected and decided on my next steps. Then today the auctioneer rang me to say his colleague had received and accepted another higher offer yesterday and informed me that the property was sold ! Surely there has been some code of good practice breached here and I'm wondering have I some legal case here as this whole thing smells to me. Had a lot of time put into this and really disappointed to get f..ked around like this. Appreciate advice

So the property sold and you weren’t the highest bidder. You didn’t respond to the previous highest offer and now you are moaning because you were 2 bids behind when the property sold. How have you come to the conclusion that you have the case?

Don Kiddick

You didn't reply after being the frontrunner... agent can't read minds and it looked as if you were no longer interested as you didn't call him.
His responsibility is to the person selling, not you unfortunately....
I'd say you have no case whatsoever.

Corkman11

Fighting Tao wrote: »

So the property sold and you weren’t the highest bidder. You didn’t respond to the previous highest offer and now you are moaning because you were 3 bids behind when the property sold. How have you come to the conclusion that you have the case?

I was the highest bidder for two weeks and have been bidding on it for two months, surely I was entitled to be told it was coming to the point were it was the Close of Sale !?
You could also look at it from the owners point of view , that the auctioneer didn't do his job correctly and get the maximum price for the property!

listermint

That's your fault.

Have you considered the owners heads reached their goal price and just wanted it over and done with. You waited three days.


Again your fault no one else's. Your going to have to get over this

Wesser

I actually think they should have given you another call.and said something like you have 24 hours...

Fighting Tao

Corkman11 wrote: »

I was the highest bidder for two weeks and have been bidding on it for two months, surely I was entitled to be told it was coming to the point were it was the Close of Sale !?
You could also look at it from the owners point of view , that the auctioneer didn't do his job correctly and get the maximum price for the property!

No you were not entitled. You withdrew from the process by not replying. You did not reply to the previous highest bid.

The owner most likely told the estate agent that they wanted €x and when that bid was met with no other counter bids it was accepted.

You can’t blame the estate agent for anything at all.

xl500

Corkman11 wrote: »

I was the highest bidder for two weeks and have been bidding on it for two months, surely I was entitled to be told it was coming to the point were it was the Close of Sale !?
You could also look at it from the owners point of view , that the auctioneer didn't do his job correctly and get the maximum price for the property!

I agree It was quite clear that you had an ongoing interest in the House and 3 days is not a long time on the other side Estate Agents may not reply to calls either for much longer than 3 days

They should have at least followed up with you before Going Sale Agreed but I am afraid like a lot of other services in Ireland Estate Agents leave a lot to be desired my Experience of them is they are completely unprofessional in the main

But then our Housing Industry Attracts that

Corkman11

Fighting Tao wrote: »

No you were not entitled. You withdrew from the process by not replying. You did not reply to the previous highest bid.

The owner most likely told the estate agent that they wanted €x and when that bid was met with no other counter bids it was accepted.

You can’t blame the estate agent for anything at all.

Yes, I had given a offer greater than the asking price 6 weeks ago. Hoping it would spend up the process .

Corkman11

xl500 wrote: »

I agree It was quite clear that you had an ongoing interest in the House and 3 days is not a long time on the other side Estate Agents may not reply to calls either for much longer than 3 days

They should have at least followed up with you before Going Sale Agreed but I am afraid like a lot of other services in Ireland Estate Agents leave a lot to be desired my Experience of them is they are completely unprofessional in the main

But then our Housing Industry Attracts that

It wasn't even 3 days. Just 48 hours. And it was only a voicemail I received. It wasn't as if I had 10 missed calls or anything. I feel there was a favour done for somebody the auctioneer knew . Just a hunch. But you are right. Now that the boom is back , that Cowboys hat is back and firmly in place !!

1641

Corkman11 wrote: »

Hi All

Then today the auctioneer rang me to say his colleague had received and accepted another higher offer yesterday and informed me that the property was sold !

You can still make a higher offer (I assume it is "sale agreed" rather than "sold"). Email the EA with the offer and insist it is put to the owner. It doesn't mean it will be considered, though. The vendor may prefer the other bidder for some reason, eg cash sale, no chain, etc.

Caranica

Hindsight is a wonderful thing but if you'd contacted the EA to say you were considering your options you probably wouldn't be in this position now. 48 hours midweek is a long time. The EA is not in the wrong here, you disengaged with them

xl500

Caranica wrote: »

Hindsight is a wonderful thing but if you'd contacted the EA to say you were considering your options you probably wouldn't be in this position now. 48 hours midweek is a long time. The EA is not in the wrong here, you disengaged with them

Absolutely not 48 hrs is not a long time I have often rang estate agents and they never rang back

The OP quite clearly had an interest if they were Bidding and to close a sale without at least making more attempts to contact was disgraceful but of Course We are back to Houses selling themselves and estate Agents being Lazy again

Graham

Mod Note: Threads merged. OP please do not open multiple threads on the same subject.

Graham

Corkman11 wrote: »

It wasn't even 3 days. Just 48 hours. And it was only a voicemail I received. It wasn't as if I had 10 missed calls or anything. I feel there was a favour done for somebody the auctioneer knew . Just a hunch. But you are right. Now that the boom is back , that Cowboys hat is back and firmly in place !!

It's quite likely the agent spoke to the vendor and told them, here's a good offer from a strong buyer, I'd recommend you take it.

Vendor agrees, game over.

There is no professional/legal obligation on an agent (or a vendor) to allow you 'time to reflect'.

spaceHopper

From reading your first post it's clear you didn't believe that there where real other bidders, turns out there were. You took a chance plaid coy / hard to get hoping to get an advantage. Sorry it's back fired. The best thing you can do is keep looking keep on good terms with the EA you never know what else they might have on their books.

cruizer101

If this has only just happened you may as well put in a bigger offer, it wouldn't be sold just sale agreed. If you really want drop an offer in an envelope through the door if you think EA isn't passing on offer. Can't see that there is anything legally wrong just not great behaviour.

mariaalice

If it had been dragging on that long it should have gone to best of final offer.

Graham

mariaalice wrote: »

If it had been dragging on that long it should have gone to best of final offer.

Says who?

Vendor is well within their rights to accept any offer at any stage for any reason.

mariaalice

Graham wrote: »

Says who?

Vendor is well within their rights to accept any offer at any stage for any reason.

There is no legal reason to do it, but a lot of estate agent advise client to do it in that situation because things slow down and the counter offenders could be coming as low as 1000 each time it just drags things on for very little extra money, plus the buyers could be offering on other property as well.