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Putting in an offer

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  • 08-11-2010 6:35pm
    #1
    johnnyjb
    Registered Users Posts: 366 ✭✭


    Hi im hopefully a first time buyer and looking for some advice.

    We havent even asked the bank for a mortgage yet but im wondering the procedure of putting in an offer.

    Do you just ring the EA and tell him over the phone and are ya at his/her mercy to decide whether he/she wants to inform the clients. Can you include a note of some sorts with your offer to explain your offer and why its not the price they were expecting i.e.
    "we feel our offer is in line with further price drops " etc..

    Could we call to a sellers house to personally give them a price, im not saying i want to totally cut out EA but just to make sure they get it.

    Thanks in advance


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    #2
    liger
    Registered Users Posts: 756 ✭✭✭liger


    If you dont feel comfortable ringing the EA you can put your offer in writing and also send a copy to the house that your interested so the homeowner knows there's been an offer. Once the owner is living there that is!!


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    #3
    irlrobins
    Registered Users Posts: 7,541 ✭✭✭irlrobins


    johnnyjb wrote: »
    We havent even asked the bank for a mortgage yet but im wondering the procedure of putting in an offer.
    You should go talk to bank first. A) to get an idea of what you can afford and B) no Estate Agent or owner would consider an offer that hasn't at least got mortgage approval in principle. You're just wasting their time otherwise.


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    #4
    Doop
    Registered Users Posts: 1,470 ✭✭✭Doop


    Fyi EA's are obligated to put ALL offers to the vendor, its not in anyones interest to dismiss offers.

    Your reason for offering less than the asking will really have no impact on whether its accepted or not, also pretty much everyone has similar reasons. Offers over the phone is the norm.


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    #5
    johnnyjb
    Registered Users Posts: 366 ✭✭johnnyjb


    Thanks all,

    Doop, i would assume in a perfect world EA are obliged to pass on every offer but from what ive been reading online is that they are lazy so and so's ( in general ) so if my bid was less a present or recently turned down bid they wouldnt be bothered passing on the offer to their clients.

    I could be wrong or over reacting but thats my opinion

    Could any one give me a general opinion on this property, i feel its still over priced personally ( an uneducated guess would be 160/170 k max,as the future is really uncertain these days)Its in a central location but on a main road with no green area for a mile or so for the childers. I know info from the internet shouldnt be taken as gospel though.

    http://www.daft.ie/searchsale.daft?id=468949


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    #6
    dory
    Moderators, Recreation & Hobbies Moderators Posts: 4,493 Mod ✭✭✭✭dory


    From my searching online it seems house prices in Cork haven't fallen as much as everywhere. Is the recession taking a while to reach that far south?

    I know that area, and it's not the most desireable of places, granted it's a lovely house on the inside. I think you're right that it's over valued (but what house isn't these days). I think if you offered €160k they should bite your hand off.


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    #7
    triskellion
    Closed Accounts Posts: 37 ✭triskellion


    Talk to your bank before you go anywhere. Wasting your time & everyone elses if you don't.
    You're only windowshopping otherwise.


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    #8
    kmick
    Registered Users Posts: 3,375 ✭✭✭kmick


    if you go to the map at the bottom and tick the "similar properties" box there are two similar houses nearby for 160. That one does seem to be in good nick but not sure where the extra 80k is coming from? Does it have a corner site or something? It does not give the square footage either. I would not make an offer of 160 on a price of 240 you are wasting your time. You will have to wait until the seller realises they cant get 240 and drops the price.

    Agreed on having the finance in place first though. How can you make any offer until you know how much money you have to spend (unless you have a lot of cash in the bank).


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