Bidding race for property

That is exactly how we bought out house, we viewed it. Came back with parents for a second viewing, by then there was a bid on it. We went well above that to remove them but the EA came back and said that the sellers were looking closer to the asking. So we went up to the bottom of their expected range and up pressure on the EA. Worked we got it, very happy with it. Big green opposite and our doorbell is worn out with kids calling for ours. Great house in a great area.

Sometimes you just have to realise that the seller can't or won't go below price x and you have to deal with it if you want to buy the house. Or somebody else will.

Can you link to the property on daft, just interested to see if it’s as unappealing as you say. Thanks.

You claim you are not an estate agent. Are you sure???? Because you defend them like it was your company we are talking about. We are talking from experience full stop.

I’m a Dentist, head over to the Dental Issues thread and you’ll see lots of posts.

You don’t have to be an EA to call the bluff of a bluffer. You are sure EAs make fake bids, you have proof, but you have f**k all or you would have posted it.

“Experience” is usually confined to people who unsuccessfully bid on a house and think what they believe it is worth equates to what it is actually worth, therefore the reason they don’t get it, or have to pay more is because the EA made up bids.

Post your proof.

You are adamant that it doesn't happen but several posts have outlined scenarios where it is a sound strategy.

Do you really believe that it never happens? Of course it does, the question really is how frequently it does. To be honest, it likely happens more often than you think it does, but less often than many bidders think too - as the strategy only makes sense in a small set of circumstances.

Given that a bidder likely bids on several properties in their search, it's likely that they will encounter shady strategies like it at some point, like fake bids - particularly on property with little interest and inflated asking. I've definitely been bluffed with the no bids/rejected bid nonsense by an EA.

I'll never understand the horror some posters display at the suggestion that estate agents may engage in sharp practice from time to time, it's beyond naive to think it doesn't happen. When the house I was living in went on the market earlier this year the listing stated it had been owner-occupied since it was built when in fact I'd been renting it for the last 9 years, a fact the agent was well aware of.

Looking for straw men? Castle Park in Galway. viewings were held at 9AM presumably in the hope the locals would still be in bed, but now I think about it being that early on a Saturday could explain why I was the only person at the viewing. A couple of token quotes about the area I got from visitors over the couple of years, 'It's like something out of Angelas Ashes' or my personal favourite, 'the village of the damned'. If you scour the price register you may find what you are looking for if you want to build a straw man.

You could just take posters at their word in future. You have more trust in slimy EAs than you do in posters on Boards it seems.

I am the one who bought the property. Maybe that didn't come across clearly in my first post. Anyway, we're going in circles. An EA saying whoever bids X first wins, in the middle of a back and forth bidding contest, is clearly being disingenuous at best.

No it was as simple as they weren't going to take our offer, they were old and needed the cash to move, they couldn't get a mortgage for a bit extra so they had hard constraints. We could sit around till either we blinked or they did (but I didn't think they could) or somebody else offered what they were looking for and we'd have to bid more or back out. The house was at the lower end of our budget we would have gone to the asking if needed.

Maybe, maybe not. If the vendor is in a hurry to go sale agreed and has a pain in his hoop from the bid going up 1k at a time, then you could well imagine him drawing a line in the sand.

If the bidding was going up 20k at a time, not so much.

I was on the other side of this. Someone bid on the property. I wanted more money. EA said look, we only have one bidder. You can wait a while but a bird in the hand is worth 2 in the bush. Cant see why he would say anything else tbh. He wants it sold so he can get paid. Only reason for it not to be sold would be me looking for more money, which i didnt. I just waited 2 weeks to see if another bidder came along and they didnt. All the while the EA calling me asking if I was ready to close.