Is Auctioneer telling porkies.

Well one of my friends told me that their friend told them that my posts were constructive, so they must be. Hope thats not too high or indeed mighty.
 
Why are people buying at the moment... oh wait they're not. Here is a quote from the central bank's monthly statistics report released today:
"The net increase in residential mortgage credit during the first three months of 2009 was €428 million. The comparable figure for the first three months of 2008 was €2.6 billion."
In March alone there was only €20million in mortgages given out, an all time low. So people are not buying and therefore I would advise the OP that making an offer of €260,000 is probably more realistic. [broken link removed] and the estate agent is on commission so they are doing whatever they can to get the sale. If you don't get accepted then walk away, you are in the minority of people as you are trying to buy when everyone is trying to sell. You can offer what you like.
 
time to play hardball only offer what you can afford/think house is worth to you- all auctioneers I've dealt with over last few weeks told me the following with straight faces:
1. they are selling one house per week
2. demand so high they have run out of 3 & 4 beds
3. when asked why sellers were selling in these hard times - auctioneer stated they want to trade up and now is best time to sell

????!!!????!!! methinks auctioneers have not landed in 2009 yet, suffering from remember the old days of 2005 syndrome. Also overheard auctioneers on phone giving much guff to weary sellers ("I def have someone interested in your home") - to date only met one honest auctioneer who said it like it is "ignore prices the list they've come down again" play hardball - and ignore the guff
 
MrMan said:
Well one of my friends told me that their friend told them that my posts were constructive, so they must be. Hope thats not too high or indeed mighty.
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Yeah? Well, they were having you on.
 
When my Husband and I were buying our first house, the EA who was selling the original house we went to see gazzumped us. No time for them.

FAO MrMan - Are you an Estate Agent? You seem to be ignorant to the fact that these things go on with EA's. I agree with Locke, their repuation preceeds them and I know this for a fact from personal experiences.
 
Like in any profession there are dodgy EA's and good honest ones .

When I bought the house I am in now, the EA was actually a friend of my Aunty's. Now Im not sure if this was their fault, but they advised me to buy this house quick (which I took in good faith and did) as the others had been sold out. Apparantly 3 of the houses fell through (there werent that many sold in my estate!) and were sold at a knockdown price (up to 8%) in the space of a week of me buying . . My neighbour told me what they paid and I nearly went mad . .

Take what you want from that.

Personally from the OPs point of view if the house is coming down from €365k, I would think that €250k is a good figure to start on. The buyer has all the power in the marketplace. If you see a place you like, dont get too emotionally attached (as thats when we make mistakes). Accept that theres plenty more out there and that you have control of what you bid for the property (not what the property will be sold for).

http://www.thepropertypin.com/

This website gives rough indication of where property was and is now (in many cases). Worth a look . .
 

In your second example then you are advocating that the vendor should have gazumped the offer thay had already accepted????
 


EAs don't gazump people - vendors and bidders do. EAs are obliged by law to pass on higher offers even if the property is already sale agreed. The decision to then gazump is entirely the vendors.
 
Lobby said:
EAs don't gazump people - vendors and bidders do. EAs are obliged by law to pass on higher offers even if the property is already sale agreed. The decision to then gazump is entirely the vendors.
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Oh come on, don't be so naive. If you have sale agreed you have sale agreed. There needs to be some level of trust in the process. Is it any wonder they have that weasled perception floating about
 
Lobby said:
In your second example then you are advocating that the vendor should have gazumped the offer thay had already accepted????
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Lobby.

She had put in offer before lower offer had been recieved.. So no. That is not what I am suggesting. Effective use of the Question Mark key though. Well done.
 
sarajane2009 said:
Oh come on, don't be so naive. If you have sale agreed you have sale agreed. There needs to be some level of trust in the process. Is it any wonder they have that weasled perception floating about
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Sale agreed has no legal meaning in this country, if an EA doesn't pass on a higher offer then they can be sued for negligence.

It may not be right, but the problem here is the law as it stands.
 
Locke said:
Lobby.

She had put in offer before lower offer had been recieved.. So no. That is not what I am suggesting. Effective use of the Question Mark key though. Well done.
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In that case the EA has been negligent and not acting in its clients best interest.
 
Hi Sarah, I see you are new so yes I am an (out of work) EA (reason I say you are new is that i have posted that I am an EA many times in line with guidelines etc).
When you say that the EA gazumped you I presume that you mean the EA actually owned the house otherwise he couldn't actually gazump you. EA's must pass on all offers to their clients and also give them advice. Do you know that whenever a situation arrived and a new offer came in to gazupt the sale agreed offer I would generally have said stick to the original offer because the new one might not be stable. Guess what 9 out of 10 people did in this situation? And then I would have to pick up the phone and take the flak as the greedy weasel EA, I guess its easier for people to have a fall guy than to open their eyes and see the truth.
As regards my ignorance to what goes on within my profession, I have stated many times that bad practices are in place in some companies, but i would never have the proof or believe that bad practices are carried out by all. It would be quite a statement to label an entire profession like that.
I dealt with integrity and with people who put reputation first as the key to survival in the long term. You can be shrewd and maintain your integrity.
 
sarajane2009 said:
Oh come on, don't be so naive. If you have sale agreed you have sale agreed. There needs to be some level of trust in the process. Is it any wonder they have that weasled perception floating about
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If I sale agree your house for 400k and subsequently receive and offer for 415k. i have to put that offer to you. you then make the decision. Do you take the 400k or can you see what the extra 15k could do for your family? My advice would be based on the strength of each bidder and the information at hand, I haven't been instructed to give lessons in morality. Which offer would you choose. As your EA it would be easier for me if you took the original offer because then I could take the new guy to look at similar properties, if you take the new offer the gazumped party would consider me the bad guy and I would prob lose his current and future business.
 
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