Help needed re possible property market fall

S

Snarrig

Guest
Hi

We have a dilemma. We recently sold up in Dublin and moved to the west with quite a few bob in our pockets.

We have seen a lovely house in a small estate of 30 house or so which we are thinking of putting a deposit down on.

Loads of people are telling us to relax, there is a major slump in house prices on the way and that in 6 months we'll get much more for our money.

There are plenty of houses on the market down here for a year or so without even any offers.

To complicate matters, only 3 houses in the estate have sold in a year.

Any advice?
 
Re: Anyone got a crystal ball??

put in a bid for what you think is reasonable and see what happens......that's what we did and offer got accepted well below the asking price
 
Re: Anyone got a crystal ball??

First off, noone here or anywhere else has a reliable crystal ball :)

Personally, I'd suggest that you consider making an offer if

  • you like the house/ its location and
  • have done enough hunting around to be satisfied that there is no other on the horizon and
  • can comfortably afford it (maybe even remain mortgage free if the Dublin house proceeds cover the asking price?) and
  • have no need of your Dublin house proceeds for other investment/ high interest rate debt settlement purposes
This will save you from paying rent and the potential uncertainty that may surround rental agreements.

Perhaps you could haggle over the asking price with the vendor.

Good luck with your decision
 
Re: Anyone got a crystal ball??

deadlyduck said:
Perhaps you could haggle over the asking price with the vendor.
Click to expand...

Of course you should haggle. In todays climate you should go with a low ball offer and see what the response is. If the situation is as you say then it is unlikely that you are going to have a huge amount of competition. All they can say is no!
 
Snarrig said:
Hi

We have a dilemma. We recently sold up in Dublin and moved to the west with quite a few bob in our pockets.

We have seen a lovely house in a small estate of 30 house or so which we are thinking of putting a deposit down on.

Loads of people are telling us to relax, there is a major slump in house prices on the way and that in 6 months we'll get much more for our money.

There are plenty of houses on the market down here for a year or so without even any offers.

To complicate matters, only 3 houses in the estate have sold in a year.

Any advice?
Click to expand...

Try 15% below asking, tell them you are cash buyer and that you can have the deal done in weeks.

They may turn you down and then wait a few weeks.

Then talk to the EA who will be desperate to sell it to you.....he will probably know the bottom price they will accept and will without telling you exactly but will be able to guide you to that price. As a cash buyer in current market 10% below should be acheivable
 
We have seen a lovely house in a small estate of 30 house or so which we are thinking of putting a deposit down on.


Without giving too much away,do you mind me asking what area? county?

MOMO
 
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