What % below asking-price for Daft/myhome.ie properties

Setanta12

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We have a set Budget, and don't want to waste our time or anyone else's time - so we're trying to establish how much to rightfully offer for prices of properties in the 3-bed Rathfarnham/Dundrum/Ballinteer market i.e. if EUR'X' is asked-for, we should EUR'x less 15%' etc etc ....

What do people think ?
 
I don't think there is a set % that people offer. I'm not familiar with those areas but so far I have seen properties that were overprices, presumably as they expected under bids, and then properties that were underpriced and did get multiple bids.

Your best bet is to figure out what the house is worth and offer a few percent below it. Worst case they say no.
 
We have a set Budget, and don't want to waste our time or anyone else's time - so we're trying to establish how much to rightfully offer for prices of properties in the 3-bed Rathfarnham/Dundrum/Ballinteer market i.e. if EUR'X' is asked-for, we should EUR'x less 15%' etc etc ....

What do people think ?

Do you have the funds available or are mortgage approved for the range of houses that you're looking to buy?
 
i would start offering at least 25% below.. in fact, maybe more. our house (purchased approx 12 months ago) cost us 20% less than the asking price on myhome, first offer accepted.
 
i would start offering at least 25% below...
You would have got nowhere with me: I have just sold a house for <3% below asking price. The EA knew that it would have been futile even telling me of offers even 10% below my price; I wouldn't have considered them.

Nor would you have got anywhere in a transaction a family member was involved in, where a house was sold at about 6% over asking price.

In both cases, the asking price was about right in that it was a fair estimate of the value of the house to buyers in that segment of the market.

The answer to OP's question depends on the answer to another question: how reasonable is the asking price?
 
I have to say from recent experience of selling a house in Dublin that you have to stick to your price, if it's reasonable. If you're looking for a bargain, you need to travel to the surrounding counties. You can't expect a basement price for a house in the area you're looking at!
 
I think there are a few variables to consider- good location, condition of the house, and most importantly, is there alot of nterest in the house... People with houses in this bracket generally have a decent property and can probably afford to hold out for near to their asking price but not everyone is that fortunate.

However, if the house has been on the market for a while then the owner might be happy to take an offer well below the asking just to get the sale. Also the sellers circumstances come into play - is there a hefty mortgage on the house or is it an executors sale and probably mortgage free.

IMO some vendors are trying their best to cling on to the notion of boom time prices but then again if someone is willing to pay what they're asking.....

No offer is too low in my book. The worst that can happen is they will say no!.
 
You would have got nowhere with me: I have just sold a house for <3% below asking price.

Of course there are plenty of reasonably priced houses out there that will go for close to their asking.

However, they are also plenty of houses that need lots of work, are executor sales, or have been on the market for a while that will go for way under the asking.

Again, as previous poster outlined, the worst that can happen is they say no.
 
I am currently in the same situation.

I am going to put an offer on a house in the next few days but trying to figure out the best offer to start with.

The house has been on the market for at least 2 years I believe and needs a bit of work (small extension, refurb of bathroom, complete redecoration, roof insulation) and has had regular asking price drops.

Im thinking a of offering a little under 20% of the asking price to let the EA and vendor know that we are interested in buying the house but expect this to be rejected. We have set a limit of a little more than 90% of the asking price so it does leave a bit of room for negotiations. Just hope the EA puts the offer to the vendor at least!
 
Houses in Dundrum/ Ballinteer, especially 3/4 bed ones which appeal to families are selling quite well at the moment. Lots of For Sale signs changing to Sold.

Anectodal evidence locally is that there are plenty of buyers. All looking to get a keen price, of course, but if the house is good, there will be more than one bidder, so dont expect your first offer to be accepted.
 
I have been to see 5 houses in Rathfarnham since March. None were for me but 4 of them went sale agreed pretty quick and have not yet appeared back on the market so I would assume the sale has gone through. There were lots of people at the viewings, seemed to be loads of interest. All houses were in the 300 - 350k bracket. I am assuming that they got decent offers to be sale agreed that quick in this market.
 
This is not price speculation -this is a fact.
The type of house and area that you are seeking has increased each month over the last four months. This is especially true in Dundrum where there are very few such houses for sale. R'farnham is a big area which can mean anything from Nutgrove to almost Firhouse and there are less sought-after parts far from transport routes and where you could bargain.

Having said the above some owners may start getting greedy and therefore inflate their prices and perhaps you could bargain with them. But i suppose if they're greedy they won't listen !

The only places I have noticed in the area that are slower to move are corporation estates, now mainly privately owned but still having a somewhat down-market appearance and still carrying a slight stigma.

You don't say your approx budget....
 
Achieved full asking price on our property this year within 10 days of listing. Paid 97% of asking price on a house we wanted. Both properties were competitively priced for the respective areas and in comparison to similar houses in the same estates. Both were in good condition.

Our property was sold at 42.5% of the boom price, the house we purchased was about 52% of boom time price. So I don't buy the argument that vendors are clinging to the notion of boom time prices.

I agree with the poster who says that 3 and 4 beds in good areas are selling quickly when reasonably priced.
 
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