"forgotten" bid

C

coinfused

Registered User
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34
Hi all,
I am a ftb (first time buyer).

I viewed a house on the market in the midlands 3 weeks ago. EA said it was on market for 2 weeks but office junior had previously told me 6 weeks. Called last week and was told a bid of €310 was in (guide price was 350k) bid 312500.

EA called on monday and was told bid was up to 317500 so I bid 320 there and then. Called ea today and was told highest bid was 317500- was shocked to realise ea hadnt remebered my bid on monday! Said nothing but rebid 320 and asked for reply by 12 tomorrow.

Is ea just stupid and really bad at remembering cos of lies and phantom bids or do you think there's something else going on here?

Advice please! great info on this forum, been lurking for a week or 2.
 
Hindsight is a great thing, but I'd have bid 317,500 and said 'I just can't afford to go over the stamp duty threshold so if the seller would prefer to accept my bid cos my circumstances suit them better, that'd be great, but unfortunately I can't go any higher'.

That way you'd have called his bluff if he was bluffing. It sounds like the house is proving hard to shift, so you may want to reconsider lowering you bid to 317.5 as it'd save you a fortune. You can always up if later if needs be, but be sure to make it sound like you just can't afford to go higher than that.
 
thanks guys,
ohpinchy should i withdraw the 320 tomorrow if ea calls me back and stell him 317 is the max we can go? sorry to sound helpless but this is all totally new and i cant play poker to save my life! To further add to the confusion before I placed my first 312500 bid I got a friend to call and he was told 315 was latest bid. 20 mins later I was told the bid stood at 310. imagine this joker was selling your house!
 
coinfused said:
To further add to the confusion before I placed my first 312500 bid I got a friend to call and he was told 315 was latest bid. 20 mins later I was told the bid stood at 310. imagine this joker was selling your house!
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Absolutely. Still, can't be easy when you've got 'enquiries' coming in every 10 mins from friends and family of all bidders/neighbours/vendors who are all trying to help but are really just swamping the EA.

That said, still no sympathy for the EA.
 
Hey coinfused - every situation is different and its pretty easy to say what you should and shouldn't do from a distance, but I think one approach that works with EAs is to be strong with them and only give them the bare minimum of info about you.

Do you feel if you tried lowering the bid he would tell you where to stick it or is it more likely if they would reject it you would have a chance to rebid? If you'll get to rebid why not chance it by lowering it? Do houses in the area generally sell quickly (i.e. is this one slower than normal? Think of all these factors and decide if you think they are in a position to reject your bid as they have others, or are you the only bidder? Its up to you to gauge it and its your call, but try consider all the angles first.
 
Thanks for the replies, houses sell quick enough in the area so assuming the office junior was correct rather than the ea the house has been on the market for about 9 weeks now. I strongly think the ea is inventing bids but then again you never know. I dont see any reason why we wouldnt be able to rebid if its not accepted, I think I'll try reducing anyway and see what happens. unless theres another "bid" that pushes it up past 320 today, ea said they would have to call the "other bidder" yesterday.
 
Howitzer said:
but are really just swamping the EA.
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Wouldnt of been necessary if he had given consistent and accurate info. Cant imagine its too hard to jot down latest highest bid beside name of different properties and tract it that way.

Not having a go, just EA behaviour gauls me.
 
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