Unrealistic guide prices

Madam, - I read with total disbelief that a house that had a guide of €5 million was withdrawn from auction after an offer of…

Madam, - I read with total disbelief that a house that had a guide of €5 million was withdrawn from auction after an offer of €6.45 million was received.

That is almost 30 per cent above the guide and shows that the "guide price" was totally disingenuous. In such cases, where bidders have spent money on surveys and checking legal title, the vendor should have to pay their expenses. Otherwise there is nothing to stop greedy people wasting the time and money of the buying public. - Yours, etc.,

CHARLES MC LAUGHLIN, Portobello, Dublin 8.