Hi guys,
I’m looking for any opinions out there on a house bidding scenario I’ve found myself in!
Looking at a house in wicklow advertised for 350k, on the market for a year.
Offered 310 a month ago, EA said vendor refused an offer for 325 a few months ago, and that the vendor would hold out.
Offered 316, and got the same response, but that an offer of 325 would prob mean the vendor would go sale agreed.
Offered 325, then told that day that a previous house viewer had just that day received mortgage approval and wanted to view the house.
The next day after their viewing, the EA left voicemail to say that the other couple they offered 335k, 10k over our offer.
This obviously disappointed us as we had done as we were advised
Paranoia has obviously set in with us (after frantic googling) about phantom bids.
Does anyone have an opinion on this? Is it possible the EA
Are we just being paranoid?
Or is the timelime just a bit odd?
We push our offers slowly up to what the EA advised, and then within half a day, we are advised of another viewing and within a day, advised of an offer 10k over what we had offered?
No one can tell you if the EA is bluffing or not. This example does look highly suspicious though.
One thing that may help you is that EAs tend to have form. There is one near me who would lie all day and I wouldn’t believe a word that comes out of her mouth. Another one, seems to be honest enough in all my dealings with him.
Maybe use a friend to ring and try and catch him out?
EAs usually like to sell properties to be fair. If 310k was acceptable im sure it would have been yours. Its only a phantom bid if its not sold. I certainly would not get involved in a bidding war with 10k jumps. Id be more suspicious of 10k jumps that anything else
Call the agent but tell him that another house you were bidding on has lowered their asking (don’t tell the name, as they all call each other) and you want to see it again on Friday.
See / listen to what reaction that has. If they play it cool, leave them over the weekend (don’t go back on Friday) and see if they leave the vmail that goes (“other bidders approval has fallen through etc etc.”).
May is the bad month for buying a agents try anything on - they want to keep some stock on the market and if their scam fails, they can always sell for 325 in sept / oct.
I appreciate the opinions guys, it’s a tricky situation, I just wanted to perhaps validate my paranoia somewhat
Still a hard decision to be made but the input is appreciated.
It feels like a long, drawn out, no-win game of poker… (which, come to think of it, is much like most poker games I play!)
I think you just have to treat everything an EA says as being at best a half-truth and more often than not a lie - anything else just leads to mental anguish for you. Have to say I’m always impressed by how they remember all the stories given they are spinning multiple bidders on 5 or 10 properties at the same time.
