Estate agent disclosing prices

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foxy

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We have recently gone sale agreed (as buyers) on a property at price considerably above the original asking price. It is a normal private treaty sale with the vendors estate agent negotiating the price with us.

Since we agreed the price we have noticed that the amount has been published in several national newspapers. How is it acceptable for the estate agent to disclose the price agreed between two parties in a private treaty sale without the parties permission? Surely "private" should mean exactly that?
 
I would have thought the same as you and didn't think that auctioneers could disclose private treaty prices unlike an auction where the information is in the public domain anyway. To corroborate that when auctioneers in my local ( rural ) area are taking out full page ads to show what that have sold and have for sale they will say something like " sold substantially above guide " on a privaty treaty sale whereas they will give the exact price for auction results.
 
I would suggest you contact the estate agent and ask them? Failing that you could contact the
 
I asked the estate agent and was told it is standard practice to notify the papers of prices achieved. Obviously for them it is good (free) publicity and also helps to increase expectations all round in the area if its a good price.
 
I think it might be a case of them seeking publicity, a more vague tatic would be as demoivre suggested above, or 'Similar properties required' sign or 'Sale Agreed in 1 week'. I would blast off a email to IAVI to satisfy yourself the estate agent acted properly in this case
 
No, it never occurred to us. It's not a showstopper. I'm just surprised it's allowed.
 
The impression given to me by the estate agent is that neither the vendor or buyer is consulted. They just go ahead and routinely submit it to the papers to try to get it published.

From our point of view it was a bit uncomfortable having relative strangers knowing our business.
 
Just being looking at page six of the property supp. of todays Irish times, ie the results section. ALL the private treaty prices are non specific eg " in the region of " 0r " the late €500,000 's " etc whereas the auction results give the exact price. I'd say foxy is justified in being pissed off !
 
Now that you mention it ours said "excess €xxxxxxx" in the Irish Times, although it actually was €xxxxxxx. But that that is only the sale agreed figure. Nothing is has actually been signed so there's no guarantee at this stage that the sale will go through at all. Auction prices are different as they are in the public domain in any case and once the hammer goes down it's much more likely the sale will be completed.

From what I can see publishing our price now, or at all, can only benefit the agent. Neither party has anything to gain.
 
They know that anyway because they were given the chance to better it at the time.

Publishing it to everyone else at this stage could give someone the information they need to gazump us.
 
foxy said:
They know that anyway because they were given the chance to better it at the time.
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Not necessarily.

foxy said:
Publishing it to everyone else at this stage could give someone the information they need to gazump us.
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I would have thought that publication would have protected you to some extent against gazumping rather than the opposite. An auctioneer is hardly likely to engage in a gazumping conspiracy against you once they have released the sale details to the public?
 
ubiquitous said:
Not necessarily.


I would have thought that publication would have protected you to some extent against gazumping rather than the opposite. An auctioneer is hardly likely to engage in a gazumping conspiracy against you once they have released the sale details to the public?
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oh look , that house only sold for €xxxxxxx and i would pay €xxxxxxx + 1000 , better go gazump him quickly....
 
I think this thread has gone off the wall, even if the price wasn't published by the time Foxy moves in all the neighbours on the road would know exactly what the price was. Private as in "private treaty" means nothing.... during the sale process any joe soap can ring up and find out the current status of bids - that's how the auctioneer tries to get people bidding. Perhaps Foxy did that herself during the negotiations?
 
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