buying an apartment

[micar]

Hi

I was recently in negotiations about buying a 3 bed apartment. The last offer i put in was the highest I could and it was rejected. My offer is still the highest on it but I reckon that someone will put in a higher offer.

I do like the development (it's small) and there are four 2 bed apartments also available.

I was thinking of putting in a offer for one of the 2 beds. The highest offer I put in for the 3 bed would match the asking price for the 2 bed.

As the estate agent is aware of the max amount I would pay, does this put me at a disadvantage for negotiations.

Thanks

Micar

 

[SPUDZ]

Would the 2 bedroom be large enough for you...both now and in the coming years?...If in any doubt I would advise not to even bother with downsizing so to speak....my feeling from your thread is that you are considering the 2 bed purely due to financial constraints rather than suitability of the apartment>>>is this a correct assumption?
Sit tight...it's a buyers market...never been a better time with such huge choice and negotating options...Good Luck...first time buyers need to be realistic and usually have to compromise...but in these times...I believe the opposite is true.

 

[oldnick]

Generally i'd agree with everything in Spudz post but the last two months have seen -according to CSO- an increase in apt prices in Dublin.
So, if you are talking about Dublin then perhaps the auctioneer and/or vendor are hoping that this recent upward trend will continue -and therefore they'll wait a while before accepting what they presently believe is too low an offer.

The CSO figures for May will be out in a few days and if they show another increase then I reckon that some Dublin vendors may get a bit over-optimistic and,possibly, greedy and thus expect higher offers.

None of which information helps in the slightest. Sorry.

But, as Spudz says, if you want a three bed don't compromise on a two-bed. Apt living can get claustrophobic especially if you want ,say, a study and/or room to invite guests.

 

[JohnJay]

Dont rush in to anything. There'll be plenty more properties out there.

I'm always anti-apartment - think about buying a house.

I dont think the CSO figures are anything for buyers to worry about - the main increases in house prices are for 3 bed houses in a few areas of Dublin

 

[ryaner]

the last two months have seen -according to CSO- an increase in apt prices in Dublin.

May saw a drop again according the CSO, but here is the thing, the majority of apt prices are so low that combined with the volumes of sales, all it takes it a few people in a month to purchase a larger apt to throw the average by a percentage point.

I'm with the others, look at the apt as somewhere you will be happy in for a very long time. Ignoring prices completely, credit conditions are not improving.