Maria191919
New Member
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Something similar happened to friends of ours ~3 years ago. There were 3 bidders which reduced to 2. The final bidder pushed them up by approximately 10k before our friends pulled out. A month or so later, the EA returned asking them if they still wanted it at their final bid which they refused but they were happy to go back in at the last bid where the 3rd bidder dropped out so approximately 10k lower (and just above the original asking price).My question is, if there was only 2 bidders, why would I pay the top end of the bids?
House info
Asking 220
Winning bid 233
My bid 231
Would I not review my final bid and offer closer to the 220?
Guaranteed it's notIt's unliekly to be a phatom bidder in the current climate
Why is it unlikely?
The chances of an estate agent making up bids is slim, think about what her or she gains from the incremental price in commission terms.Why is it unlikely?
there are many bidders out there.
But as the price rises, they fall away and there were only 2 left.
But there might have been only one left and the auctioneer felt that Maria could and would go further so he made up new bids.
There is no way of knowing for sure.
Brendan
It is unlikely because it is an entirely unscrupulous activity for an EA to be undertaking - although I don't attach much morals to your average EA.Why is it unlikely?
there are many bidders out there.
But as the price rises, they fall away and there were only 2 left.
But there might have been only one left and the auctioneer felt that Maria could and would go further so he made up new bids.
There is no way of knowing for sure.
Brendan
The general public isn't entitled to this information, only the vendor who engaged them.You can ask the estate agent for the written record of the bids, it's a legal requirement to record these. I was bidding on a house in 2018 and was always asked to confirm the bid in an email. Of course the estate agent won't be your friend after this!!;-)
Didn't realise that, thanks for the clarificationThe general public isn't entitled to this information, only the vendor who engaged them.
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