House going sale agreed while others still bidding?

MelF said:
Already did that and agent wouldn’t accept! Not Looking for reasons, just want to know if this kind of shenanigans of an agent deciding on to leave an active bidder out is kosher and if I’ve any comeback. Buyer unaware of any of this as agent won’t reopen offers.
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If you are not happy you could report him to the PRSA (not sure if it will do any good) or at least threaten to report him.
 
Early Riser said:
I don't think there is a law to that effect either. But I do think there is an obligation to that effect in the Code of Conduct:
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The PSRA published its Code of Practice pursuant to Section 18 of the Property Services (Regulation) Act 2011. This is not a voluntary Code - licenced agents can be sanctioned for breaching any of its requirements.

If I was in the OP's shoes, I would put the revised offer in writing, requesting the agent to promptly advise their client of the offer as required by Section 2.4 of the PRSA Code of Practice.

I would also drop a copy of the revised offer through the letterbox of the relevant property.
 
Thank you all, this info is enormously helpful, as I was keen to find out if the agent had indeed acted unethically or against code, given she was trying to insinuate that I was gazumping by requesting that my offer be entertained/put forward. Doubt I'll do anything, but will be mindful of this in any future dealings (god forbid) with the same agency.
 
This type of behaviour really doesn't help EA reputation. In most dealings with EAs my gut has always out me on guard. In fairness, the system doesn't exactly give them the transparent model that is needed to give people confidence, but this type of behaviour is not unheard of, and is pretty damaging.
 
Early Riser said:
I don't think there is a law to that effect either. But I do think there is an obligation to that effect in the Code of Conduct:...
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A code of conduct is a very wishy washy thing. The buying and selling of property, in Ireland, is a murky process. Other countries do it well, we should try to emulate them.
 
Sarenco said:
If I was in the OP's shoes, I would put the revised offer in writing, requesting the agent to promptly advise their client of the offer as required by Section 2.4 of the PRSA Code of Practice.

I would also drop a copy of the revised offer through the letterbox of the relevant property.
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Excellent ideas.

Can't be accused of trying to get around the auctioneer.

Brendan
 
I think a note to the vendor. At the end of the day maybe the seller said the first to offer xyz just sale agree it. Or if that party goes to xyz I’d like them to buy it. Or maybe there is shenanigans... the EA is under no obligation to revert to you but of course the vendor must know exactly what’s going on with offers/interested parties. All v strange though. Esp as you’re a cash buyer/no chain
 
Surely the code is to protect vendors interest, how can a prospective purchaser make a complaint, maybe vendor had reasons to accept other offer and wanted to sell at thst price rather than go back to you to see if you would up your bid.

All you could do is let seller know that you had bid, and had not put in your final offer but Auctioneer never advised you there was a higher bid placed. And then they could question whether he acted in their best interest, but his intetest is to the vendor and not you,
 
Most vendors want to sell for the highest price possible. The OP has outlined an experience where the EA stopped this happening, he didn't offer the OP the opportunity to counter bid, and then rejected the OPs higher bid.
 
There are two main scenarios here

1) The estate agent has done his job properly and ethically and put the OP's bid to the vendor who has chosen the other buyer. The estate agent may well have recommended accepting the other bid based on their knowledge and experience of the bidders.

2) The estate agent has not put the OP's offer to the vendor and the vendor knows nothing about it.

1) is by far the most likely outcome but 2) is a possibility.

So drop a note to both the estate agent and the vendor.

Brendan
 
When you say it went sale agreed after your latest bid, how did you find out it was sale agreed? was your latest bid higher than that amount.

Maybe time delay from when vendor accepted the offer and EA updated to sale agreed, or vendor happy with other price and doesnt want to go bavk on the agreement, but sale agreed means nothing until contracts signed
 
Just back to update this one - have since found out that the 'other party' was in fact the local authority ie council. Who i'm guessing enjoys a 'cosy' relationship with the agent so... :rolleyes:
 
There you are Mel.

The local authority used the taxes you have paid to bid against you.

This took the house off the market and pushed up the prices of other houses you might be bidding on.

Brendan
 
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