"'Rumours are swirling that the rival was a phantom... and now I've gone sale agreed but I fear I'm going to get gazumped by a developer. What legal comebacks do I have?'"
"Query: Dear Mary Frances, I'm writing because I feel like I've been completely played in a recent bidding war for a piece of land (less than 20ac) and an old cottage near my home village. The property was listed at €280,000. I started the bidding at €260,000. For two weeks, it was a slow back-and-forth between me and one other 'anonymous bidder'. Every time I went up by €5,000, they matched soon after."
A buyer engaged in a competitive bidding process for a small holding and cottage listed at €280,000. The buyer began bidding at €260,000 and faced an anonymous rival who matched each €5,000 increase over two weeks. The buyer has now reached sale agreed but suspects the rival may have been a phantom used to drive up the price. The buyer fears a developer will gazump the agreed sale before completion and seeks information about available legal remedies and protections to prevent or respond to gazumping.
Read at Independent
Unable to calculate read time
Collection
[
|
...
]