House price €275, offer €255

to OP: sit tight and save, save,save. I applaud your guts.

the same property or similar will be on the market for 20/30% less this time eighteen months
 
I don't have feelings one way or the other for EAs, merely that I detest their inability to provide a service in an efficient and courteous manner.

Much the same as I detest they way in which many people accept this as the norm.

I make a big point of thanking those in any industry who provide a good service.
 
To the OP, stick to your guns, 235k is 85% of the guide price which is more than reasonable given the current market, I actually posted on here about 6 weeks ago seeking advise as I had made an offer of about 88% of the guide price on an apartment, and like you was ready to move immediately.
Upon hearing the offer the EA told me it was an insult and ‘it would have the opposite effect on the sellers’ (whatever that meant)
I calmly said that was my one and only offer and if I was to spend any more I would be looking to buy a house.
Low and behold 2 weeks later he came back asking me if my offer still stood, to which I replied no that I had since changed my focus to buying a house- he then replied he had lots of houses on his books (now there’s a surprise) and he’d ring me back within an hour to arrange some viewings….that call came….3 weeks later!!

So bottom line, in the current market stick to your guns, folk are having trouble selling, EA’s want their commission, so sit tight and be patient!!!
 
Kemosabe.Just a reminder the market is not going to keep going down forever. The day will NOT come when houses will be given away for nothing. This is a blip in the market -- in fact the World Economy. My own view is that houses will cease their downhill spiral by the end of the year and depending on location will steady themselves in a manner when sense will prevail. The days of persons queing to buy houses or having to purchase the biggest asset of their lives time after a viewing being rushed by an incompetent EA are hopefully gone.
 
Mercman I have to agree with you to a point.

I mean things have happened in the past that we can look to as a guideline.

Things have been up and down for years in England.

The rollercoaster ride has many turns.

Generally speaking though it does not go consistently up.

Although over long periods of time house prices have never fallen.
 
Gazundering!

excellent idea sir

It is only gazundering if an agreement has been made. If the vendor had accepted the offer and they and Neil had started processing the sale and Neil decided to lower his offer the day before exchange that is gazundering.

But no agreement has been made, so if the EA calls Neil next month and says the vendor will now accept his offer but Neil says my offer is now €220k that is not gazundering as no agreement has been reached.
 
It is only gazundering if an agreement has been made. If the vendor had accepted the offer and they and Neil had started processing the sale and Neil decided to lower his offer the day before exchange that is gazundering.

But no agreement has been made, so if the EA calls Neil next month and says the vendor will now accept his offer but Neil says my offer is now €220k that is not gazundering as no agreement has been reached.

aha, thanks - useful definition iguana

so if, hypothetically, the EA comes back and says your 235k offer is good and OP then re-offers, say 215k instead, what would this be classified as?
 
It is only gazundering if an agreement has been made. If the vendor had accepted the offer and they and Neil had started processing the sale and Neil decided to lower his offer the day before exchange that is gazundering.

But no agreement has been made, so if the EA calls Neil next month and says the vendor will now accept his offer but Neil says my offer is now €220k that is not gazundering as no agreement has been reached.

I would not follow this strategy at all this will aggravate the seller and you will not go sale agreed. If the EA does come back I would place the bookin deposit subject to surveyors support and then if you want to gazund them do so when they are about to sign contracts using the surveyors report. Do not do so to an excessive amount or the deal will collapse. Use the surveyors report as a bargaining tool.
 
I would not follow this strategy at all this will aggravate the seller and you will not go sale agreed. If the EA does come back I would place the bookin deposit subject to surveyors support and then if you want to gazund them do so when they are about to sign contracts using the surveyors report. Do not do so to an excessive amount or the deal will collapse. Use the surveyors report as a bargaining tool.

how much would you recommend gazundering by comanche? Another 10k maybe due to 'strucutural issues'?
 
aha, thanks - useful definition iguana

so if, hypothetically, the EA comes back and says your 235k offer is good and OP then re-offers, say 215k instead, what would this be classified as?

I believe it is classified as a new negotiation.

If I went to a car showroom in 1980 and was offered a new Toyota Corolla for £5,000 and I refused. I cannot return to the showroom today and demand to be given a new Toyota Corolla for £5,0000 (or whatever it is in Euro)
 
how much would you recommend gazundering by comanche? Another 10k maybe due to 'strucutural issues'?

I don't recommend any amount, not my place. However if the anyone wants to follow other peoples advise of gazunding then they need to show that they are interesting by entering into the first part of contract agreements otherwise they will be seen as messers and not taken seriously.

As for the OP, what he does is entirely up to him. Everyone loves to give an opinion but he is the one that has to live with his decisions at the end of the day.
 
I have to agree that what is being suggested here is not gazundering.

The agent has clearly told the buyer where to get off. If the agent returns at some point looking to recommence negotiations, then fine. But they can hardly expect to be able to do business on the same terms.
 
He said there was no way in hell I would get a house on his books for €235k, my reply was....six months ago you would have said there is no way I would get a house for €275k, but Navan is full of them, brand new from €275-280.
I said €235k is what I thought the house was worth, and my offer stood.

Neil.
Hi Neil,

I have to say I'm finding this post very interesting and it has at times turned into a baying mob looking to get even with EA's, so i would take some of the advice with a large pinch of salt. I presume you are still interested in buying. if so consider your original opinion, you thought an offer of €255,000 was a good place to start considering asking price was €275,000 down from €285,000. Before contacted the EA you were given advice from Mercman, slinky and more suggesting €230/€235,000 and even some suggesting you should lower again. You now have told the EA that you think €235,000 is what its worth, but clearly that is not true, that is what some anonymous people who havn't even seen the property think it is worth and if you read back over some of their previous posts you may find a distinct pattern in their posts. Mercman - Ea's are rogues, go in low etc etc, Slinky seems to be following a very similiar tune, Thomas22 is still going in 20% below asking and still hasn't done a deal. So ask yourself is the advice in any way balanced or rational?

You are doing the buying, what is your gut feeling? If someone hadn't put the thoughts of an extra €20/25,000 saving in your head would you have thought the way you are now?.

I'm an EA so you can take my opinion as a vested interest if you like but i just think if you really do like it consider revising your position.
 
I think we're somewhere between Denial and Bull Trap

bubble-psychology.jpg


The house is only worth as much as somebody is willing to pay. There seems to be a glut of stock in Navan, so don't get to worried if you're offer is rejected there's plenty more out there.
 
Not alone is there a glut of stock out there, Navan was the first place where Banks took over houses and allowed the then mortgagees rent them.

Mr.Man , you remind me of one of the old stock Estate Agents, responsible, fair and reputable. You tell me, in this market how can any residential property be valued to determine a Sale Price. Its all to do with Supply and Demand. The OP was originally on his own admission 'new to this'. If a person places a For Sale sign on a property nowadays it means that hey want to sell and know in their own mind that variances in lower prices are going to happen. The fact that the EA where the offer was given was downright rude and ignorant gives no allowance for a genuine offer not to be forwarded. And finally, I don't know the value. you don't know the value and certainly the vendor's EA doesn't know either. What I do know is that if A.N.Other wants to sell a property in a hurry, there will be pain.
 
Re: House price €275, offer €255

Hi Neil,

I have to say I'm finding this post very interesting and it has at times turned into a baying mob looking to get even with EA's, so i would take some of the advice with a large pinch of salt. I presume you are still interested in buying. if so consider your original opinion, you thought an offer of €255,000 was a good place to start considering asking price was €275,000 down from €285,000. Before contacted the EA you were given advice from Mercman, slinky and more suggesting €230/€235,000 and even some suggesting you should lower again. You now have told the EA that you think €235,000 is what its worth, but clearly that is not true, that is what some anonymous people who havn't even seen the property think it is worth and if you read back over some of their previous posts you may find a distinct pattern in their posts. Mercman - Ea's are rogues, go in low etc etc, Slinky seems to be following a very similiar tune, Thomas22 is still going in 20% below asking and still hasn't done a deal. So ask yourself is the advice in any way balanced or rational?

You are doing the buying, what is your gut feeling? If someone hadn't put the thoughts of an extra €20/25,000 saving in your head would you have thought the way you are now?.

I'm an EA so you can take my opinion as a vested interest if you like but i just think if you really do like it consider revising your position.

fair point MrMan. But all bar one of the properties i've bid for are still on the market so i'm in no rush. I'd rather have 10 rejected bids than one successful bid at €1 more than i could have got away with.
 
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