doubts about estate agent

T

Thomas McK

Guest
I recently bid on a house which guided for €425,000.

When the bidding was at €434, I was told that there was one other party interested in it. The bidding when up in 2 and 3 thousand jumps. When we were at 445, which was my bid, I was told that another bidder had come in and that they had bid 455. I was told by the estate agent that if I gave €460 by five o’clock that day, he would go sale agreed. I realised I couldn’t go that far, so let it go. Lo and behold the next day, I got a call to say that the third bidder had pulled out and if I bring my bid upto €450, the house would be mine!

I was initially thrilled and then completely taken a back about what happened. Maybe it was to do with the manner of the estate agent, but I realised I didn’t trust him and decided that I was not interested.

I now feel really put out and deflated and am totally mistrustful of getting into another bidding war. Has anyone else been through something similar and if so is there anywhere or any one you can complain to?
 
Thomas, you obviously feel the house was worth 445k and were only capable of paying 445k.

Ring agent and tell them that the original offer of 445k stands until x-o'clock and that "Sale Agreed" must appear.

If they agree, get another party to telephone and enquire. If they entertain the enquiry, just leave it as there is not going to be any honor from agent/seller.
 
I have been in a bidding war where a bidder pulled out, but it was before the end. I.e. she bid 435 on Tuesday evening, but withdrew the bid on Wed morning, so it went back down to 425. House ended up going for around another twenty grand anyway by Friday. Anyway I think it's not at all uncommon to get bids which are then withdrawn.

Agree with SineWave. EA is trying to close the sale quickly. If you still think the house is worth €445k, then do as SineWave instructs.
 
The EA acts for the vendor not the purchaser. They may lie and cheat and connive as much as they want to get the price up FOR the vendor because that is their job . Its up to the purchaser to spot the bluff .

The problem is when a genuine bid of say €450k comes in but the EA does NOT thell the vendor for some reason . That would indicate the EA is NOT acting for the vendor, as they always should, but for someone else .
 
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