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Sheffield house buying system -Closed bids?

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You could of course contact the vendor yourself, you've got the address, pop a note through the door, or send something through the post.

 

---------- Post added 08-11-2018 at 07:29 ----------

 

What laws have been broken? Specifically i mean. I can't think of one.

 

Let's take the agent out of the scene for a second. What about if I was selling directly to someone, with no agent involved. If I saw that two vendors were really keen and I said that I had already received an offer of £320,000 when i hadn't, simply to get them to start showing their interest at or above that level, would that be against the law?

 

I don't think so. Noone is forcing the buyers to make any offer at all. They can simply walk away.

 

Yes, lying to people in a professional capacity to induce a higher offer (or any offer) is fraud and probably obtaining a pecuniary advantage through deception. But fraud is easier to say, right.

It's pretty much the very definition of defrauding someone isn't it, to lie that way.

 

---------- Post added 08-11-2018 at 07:30 ----------

 

What taking bids 'off the wall'??

 

Everyone knows auctioneers do it.

 

The link you've provided says that it's specifically when the current bid is below the reserve and so no current offer is valid.

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Today my offer of £22k above the asking price for a house was not successful in this sealed bids method. The estate agent phoned me and said your offer at this time was not successful. So i said I will match the highest offer and beat it by £10k. But the agent said sorry but I cannot accept your offer now. Would the vendor be happy? If they knew this?

 

Sorry don’t agree with sealed bids. Might as well put the house in a auction best and fairest way.

........it may be that the agent is selling to one of their pals.........especially if the property needs refurbishing then putting back on the market next springtime.............. How many sealed bids would the seller be aware of if they are not disclosed by the agents! Edited by mossdog

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Why it’s unfair is because they will not tell you what the highest bid is. Its final seled bids so if someone has bid £265k and you bid £300k you have paid £35k more for no reason. I would rather the estate agent disclose the best offers. This is why its not fair because its blind bidding

 

You only bid up to what you're prepared to pay... if you think the house is wortyh 250k then that's what you bid..

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My parents sold by sealed bid a few years ago. In the space of a fortnight and with 3 interested parties.

Personally I think they've got more if they allowed regular bidding to continue.

Sealed bids work in the favour of the estate agent, they marketed and sold that house in a fortnight, probably charging £1500 - £2000. If it had dragged on for another fortnight that would have just been more work for them.

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.......was contacted by Blundells yesterday over a property I had recently viewed.I asked had there been any offers?........yes two......what is the current best offer? sorry we can't disclose that.......why?......it's a new rule we started 2 years ago!...

"Speechless"........might as well go to the sealed bids farce then?.....Errrr....end of conversation!

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You could of course contact the vendor yourself, you've got the address, pop a note through the door, or send something through the post.

 

---------- Post added 08-11-2018 at 07:29 ----------

 

 

Yes, lying to people in a professional capacity to induce a higher offer (or any offer) is fraud and probably obtaining a pecuniary advantage through deception. But fraud is easier to say, right.

It's pretty much the very definition of defrauding someone isn't it, to lie that way.

 

---------- Post added 08-11-2018 at 07:30 ----------

 

 

The link you've provided says that it's specifically when the current bid is below the reserve and so no current offer is valid.

 

I’ll repeat the question. What law has been broken. Can you provide a link to show this is actually illegal.

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Yes, I think it's the theft act

 

http://www.legislation.gov.uk/ukpga/1968/60/section/16/enacted

Section 16 specifically

Obtaining pecuniary advantage by deception. (1)A person who by any deception dishonestly obtains for himself or another any pecuniary advantage shall on conviction on indictment be liable to imprisonment for a term not exceeding five years.

 

---------- Post added 18-11-2018 at 09:21 ----------

 

Oh, and repeating the question "What laws have been broken? Specifically i mean. I can't think of one."

I answered that giving the specific details of the law.

You didn't ask for a link. So there's no need to "repeat the question" and imply that it wasn't answered when you actually mean is that you then want further information because you can't be bothered to google it for yourself.

Frankly I'm surprised that you think it needs proof. You might as well be asking me for proof that running off with physical goods from a shop is a crime. It's self evident that lying in order to drive up bids is a crime.

Edited by Cyclone

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On 11/18/2018 at 9:19 AM, Cyclone said:

Yes, I think it's the theft act

 

http://www.legislation.gov.uk/ukpga/1968/60/section/16/enacted

Section 16 specifically

Obtaining pecuniary advantage by deception. (1)A person who by any deception dishonestly obtains for himself or another any pecuniary advantage shall on conviction on indictment be liable to imprisonment for a term not exceeding five years.

 

No, that was repealed (and replaced) by the Fraud Act 2006- see http://www.legislation.gov.uk/ukpga/2006/35/contents

 

Edited by Jeffrey Shaw
clarity

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Missed out on another house 🏠 another sealed bidding process. To cut a long story short A house came on the market £250k I offered full asking price. Lots of interest so went to best and final bids ( here we go again ) I phoned in at 11:55 and bids were closing at 12:00. The agent told me the highest bid was £281k ( should not have told me don’t know why she did) so I offered £283k, she said that was the best and highest bid and she has now closed the bidding and will not be taking no more bids and will be speaking to the vendor this afternoon for a decision on the house. I phoned back at 1pm and the agent confirmed nothing had changed and that my bid was the best and highest offer and she did not take anymore bids and will soon be speaking with the vendor. I thought 💭  the house is as good as mine. Got a phone call from estate agent at 4pm sorry 😐 sir you did not get the house. Your cash offer of £283k was not good enough???  Can someone please explain what has happened here ( I already know brown envelope ✉️ job i am certain )

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13 minutes ago, Billy-Jean said:

Missed out on another house 🏠 another sealed bidding process. To cut a long story short A house came on the market £250k I offered full asking price. Lots of interest so went to best and final bids ( here we go again ) I phoned in at 11:55 and bids were closing at 12:00. The agent told me the highest bid was £281k ( should not have told me don’t know why she did) so I offered £283k, she said that was the best and highest bid and she has now closed the bidding and will not be taking no more bids and will be speaking to the vendor this afternoon for a decision on the house. I phoned back at 1pm and the agent confirmed nothing had changed and that my bid was the best and highest offer and she did not take anymore bids and will soon be speaking with the vendor. I thought 💭  the house is as good as mine. Got a phone call from estate agent at 4pm sorry 😐 sir you did not get the house. Your cash offer of £283k was not good enough???  Can someone please explain what has happened here ( I already know brown envelope ✉️ job i am certain )

-Somebody bid higher (agent is obliged to pass all offers to vendor even if made after the 'deadline'.)

-Or agent had a 'preferred' bidder. ..

 

It must have been some house to go over the asking price by that amount. If you think the agent is dodgy drop a note around the house to confirm your offer directly with  the vendor and leave your number.

 

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Or the vendor decided based on some factor other than simply who offered the most.

Were you in a chain (cash buyer suggests not, but I never understand this term, nobody is buying will gold bars or shares, everyone is paying cash).

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