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Matching a current bid

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    #32
    Cazale
    Registered Users Posts: 2,906 ✭✭✭Cazale


    Marvin Millions Lockjaw wrote:
    You mustn't be aware of the fines or prison terms applicable to agents for made up bids I take it. Likewise if they don't record and relay all bids to a vendor.

    I've never heard of any estate agent going to prison. If they don't record or relay all bids then surely your point of estate agents not accepting matching bids falls under that description.


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    #33
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    Cazale wrote: »
    I've never heard of any estate agent going to prison. If they don't record or relay all bids then surely your point of estate agents not accepting matching bids falls under that description.

    If you put a gun to their head they will, but they will recommend you don't (in your own interest) as you will appear as a messer to the vendor, compared to the person who has already placed the same bid. Think of it from the vendors perspective. :rolleyes:


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    #34
    Fol20
    Registered Users Posts: 3,624 ✭✭✭Fol20


    Cazale wrote: »
    You were telling people earlier to bid above whatever random price an estate agent told you. That's naive.

    I'd trust nobody especially when it comes to buying a house. I'm my experience if I only went with someone I trusted 100% I'd probably be living in a tent.

    I think this is the tinfoil hat coming out that EA's are creating fake bidders. An extra 5k offer equates to an extra 50 quid commission. It isnt worth the hassle of a deal falling through or risking your EA license for that type of money. Honestly from my experience, their not in it for the seller or buyer, they are in it for themself to get a sale to close out as many fail and need to be re advertised again.


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    #35
    averagejoe123
    Registered Users Posts: 270 ✭✭averagejoe123


    Marvin Millions Lockjaw wrote: »
    If you put a gun to their head they will, but they will recommend you don't (in your own interest) as you will appear as a messer to the vendor, compared to the person who has already placed the same bid. Think of it from the vendors perspective. :rolleyes:

    If I'm a vendor I'm delighted if another bid comes at the same level from people not in a chain if I am looking for a quick sale


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    #36
    Fol20
    Registered Users Posts: 3,624 ✭✭✭Fol20


    Cazale wrote: »
    I've never heard of any estate agent going to prison. If they don't record or relay all bids then surely your point of estate agents not accepting matching bids falls under that description.

    I have never heard of them going to prison either. I also havent heard them getting caught for phantom bids. I have experienced them reject bids however this was mainly down to the situation the deal was under so for example, problems with the deeds so they would only accept mortgage free deals etc.


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    #37
    q85dw7osi4lebg
    Closed Accounts Posts: 3,502 ✭✭✭q85dw7osi4lebg


    averagejoe123 wrote: »
    If I'm a vendor I'm delighted if another bid comes at the same level from people not in a chain if I am looking for a quick sale

    I have been a vendor too so I suppose it is a case of different stroke for different folks. I would prefer my EA to get me the best price possible though, encouraging bids above the current one would be standard enough to achieve that.


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    #38
    averagejoe123
    Registered Users Posts: 270 ✭✭averagejoe123


    Marvin Millions Lockjaw wrote: »
    I have been a vendor too so I suppose it is a case of different stroke for different folks. I would prefer my EA to get me the best price possible though, encouraging bids above the current one would be standard enough to achieve that.

    Absolutely they should but the bidder not in a chain presents a more favourable position IMHO.

    I am currently selling and looking for a new place. I have been told by the last 2 EAs i've bid on property with that they have offers from people currently renting ready to move. They are much more attractive as it eliminates a large number of potential pitfall and time delays.

    I am in a position to up my offer on the latest property but am unsure if I will as it will more than likely only be used as leverage to get the other party to up their bid. The sellers are looking for a quick sale and we can't do that as the only bids on our property are from people in chains.


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    #39
    MrBusso
    Registered Users Posts: 2 ✭MrBusso


    Thanks for all the replies.

    In the end we decided against bidding on that particular property as we found there was planning permission granted on a large site right next to the estate and it is quite built up already.

    The painful hunt continues.


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