Selling Apartment New House ready in Feb

The way I see it at the mo is that nothing is going to happen till after crimbo. I think things will hopefully pick up then I would be willing to take a 5% drop if needs be.
 
Your best bet also is to try and prolong the closing on your other property. Feb is still early in the spring sales so any more room to close will be to your benefit.

Probably should factor in the cost of bridging finance/cancelling and losing your deposit into your overall strategy for selling your current property.
 
Absolutely agree with Maine. I wouldn't even think of bridging in your situation in the current climate.

If you are not in a position to weather a possible storm with two properties on your hands for a few years, lay off some of your bet and drop your price for a quick sale.
 
Thanks for the help guys when would be a reasonable amount of time to drop the price if no bites say by the 20th of January or should I hang on a while
 
I would drop it now and get shut of it before Christmas ideally.

Worst case scenario, if stamp duty is reduced or altered in budget, and market doesn't respond, then the bubble has well and truly burst and a lot of people are in trouble. If you can't weather having 2 properties with maybe negative equity in both, better to take a smal hit now and get out.
 
Whilst i can't comment on auto320's speculation on a property bust i would recommend pitching the price lower than what you would take in the hope to sustain some interest and maybe even a bidding war. What it will do is give you a very good indication of the market.

You may also like to check out the Sunday business post view on second hand apartments. They had an article on them at the weekend. Sorry cant provide a link.

auto320 said:
I would drop it now and get shut of it before Christmas ideally.

Worst case scenario, if stamp duty is reduced or altered in budget, and market doesn't respond, then the bubble has well and truly burst and a lot of people are in trouble. If you can't weather having 2 properties with maybe negative equity in both, better to take a smal hit now and get out.
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auto320 said:
I would drop it now and get shut of it before Christmas ideally.quote]

We are short of some information - like is it a hard date in Feb. What are the consequences - can you delay completion for a small fee etc.

By 20 Jan the EA will be hinting to potential purchasers that you have to move and that you might accept a lower price...say 20k below asking.

If the market does not bounce in new year and you have a bridging loan then you may take even a lower offer - 30k lower. EA will be recommending a drop.

Against that if the market bounces you may get full asking and it has for alot of years in recent history. Confidence remains strong despite the interest increases.
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psygnosis said:
Not sure if I should say but 2 bed apt north county dublin desirable area for around 315k
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In your shoes, given the very high risk in the current Irish market, I would go with 295k and get out. 295k will stand out as a good value property, attracting a lot of buyers and giving you an edge on the sellers who think that all will be well in January. The 20k will seem like small potatoes if the entire deal goes pear-shaped on you and you are left holding both properties.
 
psygnosis said:
Thanks for the help guys when would be a reasonable amount of time to drop the price if no bites say by the 20th of January or should I hang on a while
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Hi Psygnosis, without going into the arguments - the very fact that you are on the site asking for advice and not having any interest so far in your property is an indication that something has changed in the market. Most of (the very helpful comments) on these are advising you to move now on price - you seem to want to wait - me id run like the wind. Good
 
makindye said:
Hi Psygnosis, without going into the arguments - the very fact that you are on the site asking for advice and not having any interest so far in your property is an indication that something has changed in the market. Most of (the very helpful comments) on these are advising you to move now on price - you seem to want to wait - me id run like the wind. Good
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luck.
 
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