"Homes in Ireland regularly sell for well above their asking price and buyers are frustrated by what they perceive as a lack of transparency and a suspicion of 'phantom bids' designed to push prices higher. In early October, a burnt-out house in the Finglas area of Dublin went on sale with an asking price of €225,000 following an arson attack."
"The estate agent's promotional video went viral across the internet when the auctioneer described the house as a "fantastic opportunity for anyone looking for a project or investment". Auctioneers have always had a talent for florid and upbeat descriptions of their properties. Beware the "cosy residence with convenient transport links". It's likely to be a tiny wreck of a home next to a busy road."
Homes in Ireland frequently sell for well above their asking prices, creating frustration among buyers who encounter opaque sale processes and suspect artificial bidding. Some buyers believe 'phantom bids' are used to inflate final sale prices and reduce transparency. A recent example involved a burnt-out house in Finglas listed at €225,000 after an arson attack, promoted in a viral video where the auctioneer called it a 'fantastic opportunity' for a project or investment. Auctioneers commonly use upbeat, florid property descriptions that can obscure the true condition, such as labeling tiny damaged houses as 'cosy residences with convenient transport links.'
Read at Independent
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