How much should I bid?

eon58

i am after viewing a few properties in cork city and i have stumbled upon one that i kind of like. The problem is i dont know how much to bid on the house.Asking price is 250000 and agent says they refused 230000 so i dont know if he is only trying to get more out of me.If anyone has some advice on what i should do i would br greatful for this. Everyone telling me that hes lying and that i should bid less than 230000

Freddie59

eon58 wrote: »

i am after viewing a few properties in cork city and i have stumbled upon one that i kind of like. The problem is i dont know how much to bid on the house.Asking price is 250000 and agent says they refused 230000 so i dont know if he is only trying to get more out of me.If anyone has some advice on what i should do i would br greatful for this. Everyone telling me that hes lying and that i should bid less than 230000

Any link to the property?

He probably is. Visit this site and check the price history:

www.irishpropertywatch.com

then visit these sites and make your own mind up. And - oh - unless it is a complete bargain DON'T buy now!:)

www.treesdontgrowtothesky.com
www.thepropertypin.com
www.irishhometruths.com

stevie.enright

OP a link to the property if possible would be kind of useful.

Are theyre similar properties in the same/ nearby estates for sale presently? If so the asking prices on them might be a useful indicator.

I wouldn't be inclined to believe everything/ anything as the case mey be that Estate Agents say and certainly wouldn't be inclined to get into a bidding war these times as think there is absolutely no need.

I personally think that anyone selling a house presently for 250k and who are serious about selling would be inclined to accept an offer of 230k or at least meet in the middle sort thing if thats possible from the buyers perspective. Then again I don't know anything about the sellers situation. They may be not very eager to sell and in a position to hold out and try get a better price and/ or may for example have dropped the price by 100k in the last few months due to lack of interest and are unwilling to take anything below 250k as such as they consider it their rock bottom. My own logic are general based assumptions that do not take into account the specifics of the sellers personal situation.

eon58

hi lads sorry for not being more specific.....there is currently noone living in the house apparently the have got another house where the husband is from......houses in the area are slow enough to move on the market because there are a few rented properties in the location.....i was thinking of putting in a bid of 200000 and let it with them to decide

jd

Put in a bid of 200k, it is a buyer's market at the moment. Just tell the agent that is all you believe the property is worth in today's market.

Fol20

I remember a year and a half ago,my dad was bidding on a house starting at 500k.The bidding went up to 700k and my dad won it.A week later my dad decided it wasnt for him due to noise level.A year and a half later the house still isnt sold so i wonder where this mystery bidder went:rolleyes:

Dont believe a word estate agents say.

stevie.enright

eon58 wrote: »

i was thinking of putting in a bid of 200000 and let it with them to decide

If you are going to put a bid of 200k in eon58 I'd be inclined to stick to my guns and not go one brown cent over it. Remember also you simply walk away at any point. The seller may not necessairly be afforded the same luxury.