house valued at 450k

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brookied

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Hi All
If i viewed a house at the above price of 450k, What would be a very realistic serious offer to secure a sale?

The house is listed Region 450k so i presume an offer below would be accepted depending on the length of time on the market.

Question then:-
taking into account the slow market and that we have loan approved and are ready to go what would you sell at???

Cheers for replies
Darren
 
If you look at the daftwatch graph the number of houses for sale on the market appears to be rising every day. What effect this will have on house prices we are not allowed to speculate on, but surely you can find a number of vendors in your area and play them off against each other?

Do some tyre kicking, test the market and work on from there.

Just remember that with so many houses on the market you have all the power.

http://daftwatch.atspace.com/
 
If the price hasn't reduced already to reflect recent reductions in house prices I would be offering at least 15% below the asking price.
 
brookied said:
Hi All
If i viewed a house at the above price of 450k, What would be a very realistic serious offer to secure a sale?

The house is listed Region 450k so i presume an offer below would be accepted depending on the length of time on the market.

Question then:-
taking into account the slow market and that we have loan approved and are ready to go what would you sell at???

Cheers for replies
Darren
Click to expand...

You're in a very strong position alright with financing in place, that's very valuable to a vendor, espcially if they are in a chain and need to sell. Ask the obvious questions like how long has the property been for sale and what are the circumstances of the vendor. If the property has been on the market for a while, very early 400's could be a good starting point I'd say. Check out thepropertypin.com to see if similar properties have dropped the asking price. Best of luck :)
 
Anything above €400k would be generous IMO.

But you need to check if the house has dropped the price before and how long the house has been on the market
 
hi,

i dont mean to hi jack the thread but i was thinking along the same lines recently. however the situation would apply to a new build house not a second hand house. If the new build according to the EA says from 560K would you offer below that price? doberden suggests 15% but i'm not too sure that the EA would accept that on a new build??? i also know it is dependant on location/specifics of development etc. i can give this information if required but would need to get all clear from moderator me thinks.

thanks for the info.
 
I still find it hard to see how people can advise what to offer on the basis of the asking price. I've viewed identical properties with 10-15% difference in asking price
 
Location, location, location.....

Where is it? Some areas seem to be immune to the downturn in the market and are highly sought after for their location, amenities, infrastucture etc, in this case you might need to be a bit closer to the asking price, in other less desirable areas where there is no shortage of supply you could afford to be cheeky. I've seen a website recently which gives an indication of approx how long houses remain unsold in a given area but I can't find the page now......
 
The property market is likely to drop for another few months before any SLOW recovery. I would make a fair offer of €400,000 but be prepared to sit and wait for a week. Explain to the auctioneer that that is your max mortgage and that property prices are still dropping. When the seller refuses the offer which they will sit tight for a week or two. Then if you really want the house ring the auctioneer back and enquire about the house again, hint that you may be able to get a bit more money from family and what realistically can they take as there minimum for the property. When he gets back to you tell him thanks and that you will get back to him if you can raise those funds. Ring a day or two later and now you want to achieve between 5000 and 10000 less than what they gave as their minimum price. And remember don't get two excited, very little is selling and it is a buyers market for the moment.
 
I've just been offered 5k less than my asking price. With all the talk of falling house prices I adjusted my asking price accordingly. Perhaps the person selling the 450k house did aswell and an offer of less than 400k would well off the mark. It can't hurt but you should probably be prepared to go higher if you really want the house.
 
MrKeane said:
If you look at the daftwatch graph the number of houses for sale on the market appears to be rising every day. What effect this will have on house prices we are not allowed to speculate on, but surely you can find a number of vendors in your area and play them off against each other?

Do some tyre kicking, test the market and work on from there.

Just remember that with so many houses on the market you have all the power.

http://daftwatch.atspace.com/
Click to expand...

Depends on the area though. In Dublin, for example, the number of houses for sale on daft has fallen in the past few months.
 
brookied said:
Hi All
If i viewed a house at the above price of 450k, What would be a very realistic serious offer to secure a sale?

The house is listed Region 450k so i presume an offer below would be accepted depending on the length of time on the market.

Question then:-
taking into account the slow market and that we have loan approved and are ready to go what would you sell at???

Cheers for replies
Darren
Click to expand...

I think you check this website to see if the property has dropped the price before.
http://irishpropertywatch.wordpress.com/2008/01/27/daft-report-7-2009-drops-record-number-of-drops/
 
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