I don't quite agree. Yes, a seller in this market would be wise to accept an offer so close to asking - the thing is, there could be a conditional offer subject to the sale of their own home. Given how long places are staying on the market these days, that's pretty open-ended and many vendors would be unwilling to accept / would take a lower offer to have the guaranteed sale; the critical question is how much lower they'll go. That's why I suggested asking what the other - if there is another - bidder's position is.
Put a bid on a house today - opinions
- Thread starter Jiggy07
- Start date
Oh she didn't! His attitude totally put her off, she got him in to do a valuation on her house and he spent 2 hours there trying to convince her to sell at a price she didn't want to and in the end got another EA who was much more professional and got her a good price (she sold at the right time). But she said he was a right chancer.
If someone missed out on a sale for 3K it would be very unwise in today's market but as you say it is not known what position they are in.
If the house is 6 years old, would the 240k that Jiggy offered be close to the original price of the house. Maybe they can't afford to go this low?
F
Flax
Guest
I think when buying a house you have to take a long term view.
Is the Irish economy in trouble? Yes.
Are things going to get worse? Yes.
Will it be many years before things stablise a bit? Probably.
So be sure the "bargain" you are getting will still be a bargain in 5 or 10 years. If you happen to lose your job and find yourself in negative equity, you won't be able to escape from Ireland.
Don't let the EA talk you into paying more than you believe is affordable.
Is the Irish economy in trouble? Yes.
Are things going to get worse? Yes.
Will it be many years before things stablise a bit? Probably.
So be sure the "bargain" you are getting will still be a bargain in 5 or 10 years. If you happen to lose your job and find yourself in negative equity, you won't be able to escape from Ireland.
Don't let the EA talk you into paying more than you believe is affordable.
Ah yes, I know that estate and that is a very good price for a house there. As someone else pointed out, the 240 price might be less than what was originally paid for the house. I looked at this estate back in 2005 (there was one or two left) and I think they were asking 340 at the time. The earlier phase would have been cheaper though. I would check www.independent.ie to do a search and see the price of the houses when they were launched and then you could work off that, if you are eager to get the house. The people selling might be eager to sell but I can't see them doing it at a loss.
I would say sit tight for the minute. The EA will probably play it cool. Do nothing for maybe 2 weeks and if ya here nothing sure there's no harm in going a bit higher but the next time stick firm to what you say as he may think you will go higher again at some stage. So when ya make the next offer i would say to him that it's ur final offer and won't change. Then be prepared to walk away if they don't accept!!
You will get something else sure.
You will get something else sure.
Well the 240 that we offered was only our starting bid, if it came to it, would bid slightly more but sure the EA never even entertained any negotiations for it and I slipped up myself by not suggesting that we were willing to be flexible on the price. I am trying to see what they originally sold for but can't seem to find that info, does anyone have any idea?
Yeah I will sit tight on this one I think and leave it a couple of weeks. Does anyone know if an EA is obliged to pass on every offer to the vendor, like if I put my next offer in writing and requested that the EA pass it onto the vendor would he have to? Also can you ask to see the "other bid" in writing? I know they accept a verbal offer so may not have it but is it worth asking anyway?
Yeah I will sit tight on this one I think and leave it a couple of weeks. Does anyone know if an EA is obliged to pass on every offer to the vendor, like if I put my next offer in writing and requested that the EA pass it onto the vendor would he have to? Also can you ask to see the "other bid" in writing? I know they accept a verbal offer so may not have it but is it worth asking anyway?
I put a low bid on a house 4 weeks ago, early febuary, house was slightly reduced from peak price (5% maybe), not in great condition and was about to be reduced a further 10%, i bid 19% under this and got the usual crap from the EA. (I actually recorded the call on my phone just to have it to learn from for next time).
The plan was to come back with a higher bid 2 weeks later or so but the more i mulled over it the bid i made was actually a tad on the high side so i've done nothing. He's done nothing either but the house hasnt budged and im expecting them to get back to me sooner or later, if/when he does it'll be down a further 5-7%, either way im not bothered, happy enough renting in the meanwhile keeping my eye on other stuff. It's important to be patient, my rent will be 10k this yr, beats the **** out of buying a house and see it drop 50k in a yr!
The plan was to come back with a higher bid 2 weeks later or so but the more i mulled over it the bid i made was actually a tad on the high side so i've done nothing. He's done nothing either but the house hasnt budged and im expecting them to get back to me sooner or later, if/when he does it'll be down a further 5-7%, either way im not bothered, happy enough renting in the meanwhile keeping my eye on other stuff. It's important to be patient, my rent will be 10k this yr, beats the **** out of buying a house and see it drop 50k in a yr!
I have been looking at properties on the net for my elderly sister and she has a specific sum to pay for the property no more. The bid I have put in is 80k below the asking price on a new development that a EA is advertising this is the amount that she can pay and no more the property is not 50 miles outside Dublin.
The EA got back and says that they may have a property that will be 30k below their asking price but I know that will be too much for sister to pay. So I will have to wait and see if the developer will drop their properties prices a bit more. I expect they would want to shift properties as they have large costs on these developments.
The EA got back and says that they may have a property that will be 30k below their asking price but I know that will be too much for sister to pay. So I will have to wait and see if the developer will drop their properties prices a bit more. I expect they would want to shift properties as they have large costs on these developments.
