I've been watching a property fall to pieces for the last 5 years (it's been empty for 9 years). I decided to ask the owners, who are a large estate, if the property was for sae and as it happens, it was! We got the keys and had a look round and decided on a figure and went back to see the Estate Manager. He'd discussed it with the actual owner, who lives between London, Monaco, anywhere hot, and they decided it was to go on the market to get a true figure, given the current climate!
In November the property was tarted-up (nothing serious, just a bonfire in the garden!) and put on the market.
We expressed an interest with the estate agents and explained that we'd had a look round and were in a position to make an offer. They said that they didn't need offers yet as they wanted to "get a few people through the doors".
I got a call from them on Friday (yesterday) telling me that they wanted offers in as they were taking them to the sellers on Monday.
They then told us what the other offers were!!
They also explained that on Monday, they would be looking at all the offers and telling the interested parties what each of the offers are to give them a chance to put in a higher offer!!
"Like an auction?" I asked.
"Not at all." was the reply!!!!
I've told them that I can't be bothered to be on the phone all day on Monday upping my offer every 10minutes to beat the other offerers (they're not bidding as it's not an auction!!). I've asked them to call me when they've finished the non-auction and we'll see if I 'm still in the same ball park.
And that's the ways it stands!

BUT is this usual? Is this how folks usually sell houses??

Any opinions will be pondered!

hmmm, not sure they're supposed to tell you other peoples offers.. can't think of a reason why not though, i don't think there's anything illegal about what they're doing, just unusual. at least, its not something i've heard of before

nope - never come across that before. usually estate agents, in my experience, do not tell you what other offers are - all they will tell you wot the sellers sayes, eitehr accetps or lower selling price etc.

sounds like desperate measures for desparate times.

Oh, don't be pi^^ed by this approach, if you like it and want to buy at the price you want to pay then mayne it is worth joining in this bidding - secret is to set your max. figure and do not go over it.

yep, you may kick youself later if you lost by £ 1 k or so but you max bid is max. and that should be final - ther are plenty of fish in the housing sea.

Sounds like they are trying call your bluff. Put in an offer and sit tight. In the current market if you have cash waiting and no chain you are the one who is holding all the cards.

Just remember if you have the money it’s a buyers market!!

just had a word with her indoors its all down to the vendor how they want to do it its called a dutch auction in the trade

This is the property...

I have a number in my head and when they've finished cocking around, if my number is still in the game, then I'll do the do!
Cheers for the replies folks!

I took this picture when I few past in my Locost Helicopter, made from an old Flymo....

And this pile of rubble is in the back garden. Nearly...

That may have belonged to my great grandparents, fits the description that my mother talked about, they were the Hunter family of ship building fame.

Try this


Granny

How odd! The coble in the harbour closest to you, was mine!!

God, how old are you? That pickie was taken in 1965ish

Ha ha!!!
I didn't build the coble!!! It's still in use today. Perhaps not working today but it's still in the water.

Is this you then?


wellies boat

Nah! I didn't get borned until 1971!!

quote:

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Originally posted by Mark Allanson
Try this


Granny

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Who's going to admit to that?

Cheers

Chris

owelly

Did you buy (win) the house then??????

Ah. Well.......
I got a call from the estate agents asking if I wanted to make an offer. I repeated that if they call me when the offerings are over (it's not an auction so they arn't bids!), than I'd see if I wanted to join in.
They called me to say that there were two offerees who were slugging it out and upping the figure by £100 each time and they were at £415,250. For a bit of fun, I offered £425,000. And let then play for a bit longer. I thern got a call to say that they were at £425,550. I decided to sit it out and see what happened. Over the next few days it got to £460,250.
I decided to bail...........
There is a 'Clawback Clause' involved. According to the estate agent, this is a 5 year clause that entitles the seller to claim 20% of any increase in value due to the property being converted into separate dwellings, and then sold on as individual properties. According to the folks who are selling the farm, the Clawback includes ANY developement that is ancilliary to the single primary farm. And lasts for 21 years with the option for them to extend it....

I'm expecting the place to be back on the market when the new owners realise!

Bah, bad luck matey. But, it sounds like you may have got off lightly bearing in mind the plans you had for it! There'll be something else....

I like the idea of renting somewhere and spending lots on rubbish cars..............