Offer Price

Sesed

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I know when buying a house it only worth what you are willing to pay etc. but realistically speaking what are people offering accepting in relation to the asking price? (I know there are no real stats available, but I am curious if anyone has personal experience).
I am looking at a 3 bed in Marino - they are around 270k.
 
I know when buying a house it only worth what you are willing to pay etc. but realistically speaking what are people offering accepting in relation to the asking price? (I know there are no real stats available, but I am curious if anyone has personal experience).
I am looking at a 3 bed in Marino - they are around 270k.


Have a look on propertypin.com there is a thread on there about this topic
 
Indeed. It depends on the property. I know of a property that recently sold and went 30k over the asking price.
 
I know when buying a house it only worth what you are willing to pay etc. but realistically speaking what are people offering accepting in relation to the asking price?
It depends on how realistic the asking price is to begin with. I sold my house in March. The asking price was (significantly) less than any other house in the estate but the house was superior to most on sale. The eventual purchaser initially offered 15% below asking. I rejected various offers, including their 'final' offer. I accepted their 'final final' :) offer which was about 7% less than the asking price.
 
Thanks for the replies. I know it's impossible to give a % since houses vary so much I was just curious to see if anyone bought recently and what they offered.
Prices are still falling, and since these are "asking" prices only, I was wondering if I could get one for around 220k - I know this is nearly 20% below asking, but the asking price of 1 has already fallen 12% in 3 months. Is that a good thing or a bad thing though?? I find it very difficult to know if an asking price is sensible or overvalued. All i know is what I can afford and obviously want to best I can get for that money.
A number of houses are in and around the same price, but they are hard to compare as they all are all different - ie. one is large, with great potential but in disrepair, another is a good deal smaller with no real scope to extend, but is in great condition... so i am not really comparing like with like.
 
check out irishpropertywatch.com you can track house prices , how long a house for sale, any price drops etc, by house address and street etc. it also very useful when you are considering putting in an offer as the history of the house is clearly visible - e.g if a house has had several price drops been for sale for 2 yrs and needs work done well then its a good house for a cheeky low offer.
 
I don't think propertywatch.com is available anymore. It's a buyer's market at the moment. Yes, some houses will sell but most people selling now HAVE to sell and should be open to offers (especially executor sales or ones not in negative equity). Make an offer that you think is appropriate and don't budge (EA's will try the phantom bidder routine to make you bid higher). Eventually the property or one like it will drop to the price you are willing to pay. Patience is the key.
 
I went in at 40% below and sale agreed at 31% below . Was tough negotiating but stuck to my guns.
 
this totally depends on one issue only.... the motives and current situation of the current owner

if it is a bank sale...executor or a buy to let .....i would say 40% could be very achieveable as the word fire-sale is attached to their properties...their bargaining power staring at a low-ball offer is severely limited

Ditto for an umemployed person or a person emigrating ...its sad but true ....if you were a cash buyer or a significant portion is cash that puts you at the front of the queue with EAs ...i would say a majority of their sales are falling into that category as a number have told me
 
Snowy, how did you go about negotating for your house? Did you put in one offer and refuse to increase the bid and then did the EA contact you some months later to accept it? Also, was your house in Dublin ?
 
Ive got my keys now so can discuss it without tempting fate !

The house was on at about 40% less than the peak price to begin with . I put in an offer , waited and argued then settled at a few grand higher than my offer. The house was sold by someone without a mortgage which helped a lot as they had nothing to lose. That was the first thing I asked when viewing any house - who was selling and why

To answer the above post , its a two bed house in Phibsboro, offer was accepted within a few days and afaik there was no other offers
 
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