We just don't know what to do. I think the offer is way way too low but the wife thinks we should accept it. We have been looking at 4 bed houses but I don't think we will be able to afford it unless we get at least €330k as we haven't much equity in the apartment.
What should we do wait or accept an offer that I know to be well below the value of the house? Please help us!!
Surely a 1bed city centre apartment at €330k that has fallen €70k in value would be worth an investment if you believed the market was set to rebound.
To me this demonstrates that the 'shrewd' BTL brigade is in hiding, and not snapping up 'bargains' as some people would have us believe.
Surely a 1bed city centre apartment at €330k that has fallen €70k in value would be worth an investment if you believed the market was set to rebound.
OP, what is the location of the apartment and current likely rental potential (with reference to similar properties on daft) ?
I wouldn't accept €310,000 if it is €90,000 below valuation. If the minimum you need is €330,000 then push your EA to write up a decent editorial on your property or ask is he doing any ads such as investor specials etc to create a bit of interest in his office. If you give him a target of €330,000 he should be able to work towards it you are only one bidder away from achieving a reasonable price I would say, so hold on for another 2 months anyway cause the next 3 weeks will be slow regardless
I think that is quite expensive for a 1 bed appartment in the city center. In the current market it would want to be quite 'special' to get that price. You can get really decent sized 2 beds in great nick for 350K on Cork St which is city centerish, so I think you are over pricing yourself.
Where is it located?
I wouldn't accept €310,000 if it is €90,000 below valuation.
You've no idea if you are comparing like with like. How long does it take to walk from Cork St to O'Connell Bridge? 30mins? Also I wouldn't consider Cork St to be the best of areas either. Though its improved a lot in recent years.
Most places in city center are not nice areas. Parnell St, Pearse St, anywhere on Quays, christchurch, they are ALL rough!!
I did ask where it was located.
Over the past decade people were happy to accept final bids way way over valuations, showing they are just an estimate by an EA. How the tables have turned. Its (current) worth is governed by what someone in willing to pay, which of course could be more or less in a few months
Most places in city center are not nice areas. Parnell St, Pearse St, anywhere on Quays, christchurch, they are ALL rough!!
I did ask where it was located.
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