buying an apartment

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

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.

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.

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

oldnick said:

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

Click to expand...

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.