Price On Application

T

Trustmeh

Registered User
Messages
330
Looking at a house for sale. Two days ago it had a price, now it's been changed to "Price On Application". Any ideas on what this might mean - i doubt it's good from a buyer perspective.

Popular area but house is in need of total renovation.
 
Make a note of the original price. I'd agree with redo - it probably means it's been reduced. I've noticed this happen a bit lately - I suppose it looks a bit better than having it selling at 420k one week and 410k the next.

You might be surprised at how good things are for buyers at the moment - at least unless they're selling as well.
 
Agreed with Harleguin. What you must do is find out how much the vendors are willing to accept, subtract 20-15% from the price, then negoiate from there.

EDIT:
It is a positive for the buyer. It indicates a willingness to negociate.
 
ill post back my findings. Havent even seen the inside yet - so i hope you are right.

I assumed it meant they had a load of interest and now want to increase the price.

EDIT: The house is not in Dublin. ( i know the sentiment in this forum is generally everything is over priced - but personally i believe there are still hot spots out there, location location location and all that).
 
It's not so much that everything is overpriced generally that you need to be thinking about, it's more than the statistics (look at the latest Permanent TSB/ESRI house price index) are showing that prices are dropping. Maybe not by much overall but you might be pleasantly surprised to see how strong your position is. We're just saying don't be worried by the 'price on application' thing AND don't assume that it isn't possible to offer under the AMV, especially if renovation is needed.

It can depend on the seller of course - some sellers, no matter what the market situation will hang on in there for the best price available, because they desperately need a certain amount, they really believe that someone will pay what they want, or they're in no hurry to sell and can afford to wait for the perfect buyer! But there are also sellers who will knock money off the price in order to get a quick sale or because they need to close on their next property.

It can be considered a buyers market at the moment - you've got power, so use it!
 
vendor never got back about this one - maybe they withdrew the price cause they were planning on pulling it off the market. still refusing to arrange a viewing, weird.
 
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