Another bidding question.

Minnie*** said:
OK is 435 too high and why am I feeling so weak about offering this low. Do I just wait for the EA to ring me back and tell her we can only afford to go 430ish. What is she tells me it's offers of 455 or over, do I say fair enough get in touch if you change your mind?
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If you will pay me 10% commission on what i could save you on the asking price, I will negotiate the sale for you.

I'd figure I would make an easy 3000-5000 in commission.
 
Viewed the house last night, told EA I'd contact her before the weekend so I'll not get in touch until Monday.

Thanks for all the advice given so far.

Minnie.
 
Minnie*** said:
Viewed the house last night, told EA I'd contact her before the weekend so I'll not get in touch until Monday.

Thanks for all the advice given so far.

Minnie.
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Nicely played. Wait till Tuesday. And put in an offer of 390-405K if you really like it. And then just wait. Dont get into a conversation with the Agent as he/she is probably a better negotiator. Make offer and finish the call.
 
Phoenix, I don't have any experience with sales of any kind but is 390-405 not very low. Would I not be better offering 435 and letting them know that I am keen but not keen enough to pay out 455.
 
Minnie*** said:
There is a house on the market for 2-3 months. At the minute there are no offers on it.
Minnie.
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Minnie, I feel your pain. Went through the same thing last year.

Bid low, THERE ARE NO OTHER OFFERS AFTER 3 MONTHS!.

He will get back to you if there is another bid. Remember, you are not bidding against anyone. If you bid too high, a bidder for the asking price might suddenly (miraculously) appear.

The worst thing you can do is let the EA know you are keen.

By bidding low, you can always up your bid. By bidding high, you can't lower the bid, and are giving money away that could go into the house.

Unless you want to play real hardball (which I don't get the impression you do), and tell them the bid is €450, and will reduce each week by €5.

I'd love to have been in a position to do that when I was buying.
 
Buddyboy said:
Bid low, THERE ARE NO OTHER OFFERS AFTER 3 MONTHS!.

Unless you want to play real hardball (which I don't get the impression you do), and tell them the bid is €450, and will reduce each week by €5.
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5K below asking price. Hardly bidding low. If that was the bid the agent would phone the next day and say that it was accepted and Minnie may just have thrown away 30-50K. How many hours do you work to make that money , dont forget income tax......and the interest on that extra money borrowed......etc.......

I'll say no more.
 
We have taken everything you've all said on board and we will make an offer of 430. Now do I just make my offer Tue (unless she rings tomorrow) and see what she says and what if she says there's no way they will accept that, do I just tell her that's my offer and leave it at that???
 
There's no need to wait until Tuesday. Just ring the agent, tell them you're interested in the house and you'd like them to advise the vendor of the offer of €430,000. Don't get into a conversation with the agent other than to let them know of your own situation (Is your house sold? Under offer? Are you approved for the new mortgage?). Ask them to confirm a reasonable timescale to come back to you - unless the vendor is out of the country this should be no later than Monday afternoon.

Then sit tight......

Sarah

www.rea.ie
 
Minnie*** said:
What if she says I know they won't accept it?
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Bottom line - what do you think the house is worth? Get it for under that and you have peace of mind with yourself. But don't be afraid to play hard ball, the opportunity is there now.
 
Minnie*** said:
Placed a bid of 435! They will be in touch tomorrow.
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They will probably try to get more (expect call late morning) , but , if you hold tight, it will be yours for 435.

Still think you should have taken my advice but all the best in your purchase.
 
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