Why is a house not selling

F

Fisherman

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Looked at a potential house purchase in Dublin, in a nice area. Price is 290k
having previously been listed at 320k. Its been on the market for a few months Two identical houses in same estate sold in recent months for 355k.. (wasn't aware of this at time of viewing) Nothing to detract from this house, good condition, nice garden, off street parking...... Am now wondering why the house hasn't sold.... as I say, nothing obvious to the eye. Haven't questioned the estate agent as yet.
 
Residential property sales in the Dublin area have slowed significantly over the last few months.
 
How do you know that those two houses got €355k? Did you view those houses?

It seems like a big fall even if house prices have fallen in recent months.

Fisherman said:
Price is 290k
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That is the asking price. If you offer it, the estate agent will tell you that they have an offer of €300k and you will have to exceed that.

Brendan
 
Brendan, I checked the property price register and then checked the proximity of the houses to each other. Same house type, 355ers didn't appear any different from outside... according to Daft the price was dropped from 320k to 290k.
 
Fisherman said:
Am now wondering why the house hasn't sold.... as I say, nothing obvious to the eye.
Click to expand...

It could be anything. A structural issue, a legal problem with title, a repossessed property, a reluctant seller being forced by a bank.
 
Could be linked to the Central Bank rules kicking in, think demand is not what is was in 2015. As Bronte mentions, bank forcing sale is a good bet.
 
If I was you and in the hunt for a house I'd be having a good look at that property. Get on to the EA, let him show you around, use your head and bring your other half or a friend. Ask the questions you want to, don't mention that other houses down the road have sold for xyz, go on your instincts, put in an offer subject to survey and take it from there. If there's something wrong it'll show its head. Sometimes people look for trouble when there's none.
 
Cluid housing agency and the council are buying a huge amount of homes in Dublin. We recently sold a 3 bedroom semi to Cluid for 450k. I know of three others in the estate who were also bought by Cluid for the same price. In my opinion they paid more then our house was worth as we had no other offers. Perhaps they bought the other two in the estate you are interested in.
 
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