estate agents

I have just been totally deflated this week dealing with my agent

went to look at a property on monday, been bidding for last three weeks on it. went monday with agent who told us there was one other bidder left and that was it. on tuesday we made another bid, the other party pulled out at this stage, and the agent advised us that he needed to confirm with the vendor that he woudl accept our offered price

called us wednesday, to advise us that he was happy to proceed, and could we put the deposit own thursday. no bother.

got a call wednesday evening from agent who advised us that he had made a mistake in that legally he had to ring all parties who had placed a bid on the apartment to advise them that an agreed price had been reached and would they care to submit another bid and in error he forgot to call one person. Conveniently or suspiciosuly i dont know, that the same bidder had called the agent, four hours after we had reached agreement and put another five grand on the property !!!

this was not the same bidder who dropped out on monday.

Very frustrating and im thinking about dropping out, it doesnt seem fair, but i contacted iavi and they said all was above board !!!

any suggestions/opinions please

mucho gratis

There are other threads on dealing with the bidding process, e.g.:
http://www.askaboutmoney.com/showthread.php?t=21685

The consensus seems to be to play hard ball, which in this case would be to drop out. Easier said than done! Good luck.

Firstly, I'd be surprised if the agent is telling fibs. His objective is to get the property sold. If it doesn't sell, he doesn't get paid. An extra €5k makes no difference to him as it means and extra €50 approx. in fees to him.

It's not an easy one. I wouldn't rush into an answer whatever you do. Leave it a while and if the agent comes back tell him you're thinking it over.

I suppose it really depends how much you want the property. I wouldn't let the set of circumstances that led up to this be the reason why you pull out now - you may regret it.

I'm assuming you had a maximum price you would go to anyway? Does this €5k put it over that?

Jimbob2 said:

Firstly, I'd be surprised if the agent is telling fibs. His objective is to get the property sold. If it doesn't sell, he doesn't get paid. An extra €5k makes no difference to him as it means and extra €50 approx. in fees to him.

It's not an easy one. I wouldn't rush into an answer whatever you do. Leave it a while and if the agent comes back tell him you're thinking it over.

I suppose it really depends how much you want the property. I wouldn't let the set of circumstances that led up to this be the reason why you pull out now - you may regret it.

I'm assuming you had a maximum price you would go to anyway? Does this €5k put it over that?

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it was basically on the cusp of what i can afford, and more importantly what i belive the property is worth, end of day its a second hand (4yrs old) two bedroom apt in north kildare, and the price has now risen to what i could get a place in parkwest pointe, which are new developments, so im torn

unfortunately my father recieved the news (about the increased bid) and without consulting me put another grand on it, when i think he shoudl have left it at our final agreed price !!!