Afternoon everyone,
Looking for a bit of bidding advice. We have found a house that has ticked all our boxes and we really like it. It’s in Meath, so things are slightly different to Dublin at the moment, but it is a little more expensive than other houses in the area due to its good condition. We offered a bid of 8% under asking price, which has been refused. This is the second bid that we have made, the previous bid being 10% under asking price. Estate Agent told us when turning down the first bid that the vendors want full asking (or close to asking). I asked EA to define ‘close to asking’ and he just said ‘the full asking’. When the second bid was refused, I got a similar line, vendors want ‘full asking or over’. The house has been on the market for 9-10 months, and has not reduced/increased since.
I am a bit confused as to what to do next in terms of our next bid, we can afford to bid a little more, and are prepared to walk away when we hit that mark. Would anyone have any advice to give us? Should we hold out? How do we encourage the vendors to actually negotiate, even a little?
I am worried now that even if we bid the full asking price that the vendors would refuse the bid in the hope of getting even more out of us (or someone else), and I think -8% to full asking is a huge jump!
All opinions very much welcomed.
Looking for a bit of bidding advice. We have found a house that has ticked all our boxes and we really like it. It’s in Meath, so things are slightly different to Dublin at the moment, but it is a little more expensive than other houses in the area due to its good condition. We offered a bid of 8% under asking price, which has been refused. This is the second bid that we have made, the previous bid being 10% under asking price. Estate Agent told us when turning down the first bid that the vendors want full asking (or close to asking). I asked EA to define ‘close to asking’ and he just said ‘the full asking’. When the second bid was refused, I got a similar line, vendors want ‘full asking or over’. The house has been on the market for 9-10 months, and has not reduced/increased since.
I am a bit confused as to what to do next in terms of our next bid, we can afford to bid a little more, and are prepared to walk away when we hit that mark. Would anyone have any advice to give us? Should we hold out? How do we encourage the vendors to actually negotiate, even a little?
I am worried now that even if we bid the full asking price that the vendors would refuse the bid in the hope of getting even more out of us (or someone else), and I think -8% to full asking is a huge jump!
All opinions very much welcomed.