Be wise! many a buyer were bidding against themselves in a private treaty sale!Do anyone have information on the code of regulation of Auctioneers in a bid process.
Are the required to enter the bids in a ledger.
Can a bidder see the other bids ( a) the amounts or (b) the amounts and names of the other bidders.
No - the whole thing is smoke and mirrors with no way of substantiating anything in truth. The only way to actually know if there are phantom bids is to pull out and tell the you have made your final offer, they have your number if it falls through with the others. The only advice I would give is to try and go through it as few times as possible in life!Do anyone have information on the code of regulation of Auctioneers in a bid process.
Are the required to enter the bids in a ledger.
Can a bidder see the other bids ( a) the amounts or (b) the amounts and names of the other bidders.
It says on the property services authority web site that they are required to log all bids which they have to keep records for six years.They are all a shower of pricks. The entire industry needs serious overhaul and regulation.
No - the whole thing is smoke and mirrors with no way of substantiating anything in truth. The only way to actually know if there are phantom bids is to pull out and tell the you have made your final offer, they have your number if it falls through with the others. The only advice I would give is to try and go through it as few times as possible in life!
AFAIK you can't, only the seller can view them unless you make a complaint.It says on the property services authority web site that they are required to log all bids which they have to keep records for six years.
What I want to know can I view the bids.
Tbh I get it from an auctioneers point of view, their onus is to their client and his own commission, tough on the bidders but then life is toughNo - the whole thing is smoke and mirrors with no way of substantiating anything in truth. The only way to actually know if there are phantom bids is to pull out and tell the you have made your final offer, they have your number if it falls through with the others. The only advice I would give is to try and go through it as few times as possible in life!
It's very easy to create a log of bids, do you honestly think you will be able to or should get access bidders names and addresses? You ever hear of data protection?It says on the property services authority web site that they are required to log all bids which they have to keep records for six years.
What I want to know can I view the bids.
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