Should I raise my bid?

tearing my hair out at moment. Ima ftb and had two bad experiences in last two weeks

1. got final bid on hosue, put deposit down, three hours later was advised another bid was out down. tit for tat bidding wnet on, we reached our limit, put final bid down (did not tell agent this was out last bid). 2 days later agent called back to say vendor has pulled the house off the market. two weeks of wasted endeavour and disilliusionment

2. Bidding on a different property. Was old that vendor had 285, but the buyer wanted the place immediately, and vendor wanted to wait til june. No other bidders involved at this stage. said if we put another grand on it, and waited til june to move in it was ours. this suited us. went to agent made offer. heard nothign for three days. rang another agent on a different matter, and was advised that the vendor went to them one day previous to sell the property, agent told us that if we offered 20 grand more we coudl have the place, as they were now looking for a quick sale. Original agreed price was 296, now lookign for 317, a propery in same area, same size sold for 320k a week ago.

do ye reckon we shoudl go up tot he 317 or not, im thinking no, as the vendor will probably sit on their hands and say that if we got an increase of 20 k in 12 hours if we wait a week how high will it raise

1. You had a deposit down and then the EA accepted another increased bid? Regardless of the vendors "taking it off the market" (could my hunch that they actually sold to the other bidders be right?) that is called gazumping and if I were you I would report the EA to the IAVI.

2. Can't really understand this scenario - am I right in thinking that the highest bid on the house is 295k but they want you to pay 317k for it? Why would you do that if there are no other bidders? How about meeting them halfway at 305k? Try get them to get the contracts to your solicitor within a week of you paying booking deposit, and resist the temptation to think you have sealed the house until it is legally yours.

OhPinchy said:

1. You had a deposit down and then the EA accepted another increased bid? Regardless of the vendors "taking it off the market" (could my hunch that they actually sold to the other bidders be right?) that is called gazumping and if I were you I would report the EA to the IAVI.

2. Can't really understand this scenario - am I right in thinking that the highest bid on the house is 295k but they want you to pay 317k for it? Why would you do that if there are no other bidders? How about meeting them halfway at 305k? Try get them to get the contracts to your solicitor within a week of you paying booking deposit, and resist the temptation to think you have sealed the house until it is legally yours.

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1. They didnt sell it to the other bidder. After oour bid was accepted the agent recieved another bid. We got into a bidding war with this other bidder. we bid 300k, no response for a day, and then agent told us that the vendor took house off the market. Unfortunately gazumping isnt illegal, contacted iavi, and was told that agent acted correctly.

2. correct scenario. No higher bids than ours, but they saw another house go to 320 so they feel that they shoudl get more. They changed agents and have instructed him that they want at least 317k. Again nothing we can do about it !!!! i feel if we go to 317k, thye will still take more bids so no point in automatically raising it to 20k, let it get there eventually

the 2nd house is now under the auspices of the same agent as the first one, so wary of dealing with them following the previous experience, but have no choice, continually getting marginalised and pushed out of the market !!!