House for sale asking price and sale price

chipsambo

I was looking through the forums and although there is a lot of advice on what price people would offer, compared to the asking price of a house, there was (or I could not find) much actual examples. So my question is, have you, or do you know anyone who had bought a house in the last six months from June 2011 and what was the asking price, and the sale agreed price? I know of two people I work with.

Skerries Dublin 3 bed. Asking = €260K bought for €220K
Off Blackhorse ave Dublin. Asking €285 bought for = €248K

f9710145

Finglas - asking €165k, sold for €146k

Am in the process of selling/buying myself at the moment, will be happy to update when the deals are through - if the thread isn't on page 20 by then...

johndaman66

This is a topic I'd very much like to see a thread on also but I'm not sure if people will be honest. I've heard silly figures being bandied about down the pub but common sense prevails...you'd need to take these stories with a massive pinch of salt really;)

mariaalice

I sold my house at the start of May I put it on the market in February I go an offer two weeks later at 10,000 euro under the asking price accepted that but it fell through because they couldnt get the finance I then reduced the price very slightly and got another offer 7,500 euro under the new price it sold about 6 weeks later. I think it sold so quickly because it was realistically priced, its a popular area and there wasn't anything the same for sale at the time ( after my sold sign went up two more in the estate went up for sale )

My solicitor charged me 1,800 euro all in, my estate agent charged me 350 euro upfront and then 1.5%

I am in the south Dublin/north Wicklow area.

The people who purchased it were a couple in their thirties.

djmcr

Co Clare - sold January for €150k asking €158k.

CuppaCocoa

Dublin 8 - Asking 275, got it for 235!

zyndacyclone

I viewed a house small, really small cottage in Blackrock, with an asking price of 279k. It's about the size of a one bed apartment and is RIGHT beside a very busy bypass, noisy as heck. http://www.myhome.ie/residential/brochure/2-st-annes-square-blackrock-dublin-south/1277381

The neighbour had added an extra floor, cost to do so would be approaching 100k but would make the property livable in a decent, if loud, location. The thing is, that that makes it a renovation project and as such I think that it should be priced a lot lower.

The agent said pretty much the same. Given the amount of work that needs doing and its proximity to the road, I'd be reluctant to go over 200k for it. I'm new to buying property and sort of shy, I'm afraid to make an offer that low (yes, I know that that sounds silly to most of you but I'd love your opinion on it). It's been on the market for years btw.

johndaman66

zyndacyclone wrote: »

I viewed a house small, really small cottage in Blackrock, with an asking price of 279k. It's about the size of a one bed apartment and is RIGHT beside a very busy bypass, noisy as heck. http://www.myhome.ie/residential/brochure/2-st-annes-square-blackrock-dublin-south/1277381

The neighbour had added an extra floor, cost to do so would be approaching 100k but would make the property livable in a decent, if loud, location. The thing is, that that makes it a renovation project and as such I think that it should be priced a lot lower.

The agent said pretty much the same. Given the amount of work that needs doing and its proximity to the road, I'd be reluctant to go over 200k for it. I'm new to buying property and sort of shy, I'm afraid to make an offer that low (yes, I know that that sounds silly to most of you but I'd love your opinion on it). It's been on the market for years btw.

That seems to be a bloody small and pokey house. Seems even smaller to look at than the 51.58 square metre floor area as mentioned in the ad would seem to suggest. I know if I lived in that house for any serious length of time sharing with even 1 more person, even my girlfriend I'd feel very claustrophobic but maybe thats just me!

I wouldn't be too in tune with house prices in Dublin to be quite honest and I appreciate Blackrock would probably be considered a top notch address up there but all the same, €279k?? If you were to pay that money and do your extension, you may end up spending the thick end of half a million to buy house, associated fees, extension and furnish it. To me that seems an extortionate amount of money for what your getting. I'm purposely assuming that adding the extra floor will cost more than €100k as is often the case with estimates. By the way who mentioned the €100k figure to you, Estate Agent, Independent builder or other? Also, are you certain you'd get planning permission?

Also, you mention that the property has being on the market for years. Do you know if the vendor has dropped the asking price in that time period?

zyndacyclone

Price has already been dropped by nearly 100k. The estate agent's estimate for the extension was 70k, 100k was mine but it may be shy. There would still be no outside space and a view onto a busy road.

I'm thinking that it's just SO overpriced still that it's probably not worth making an offer as the sellers aren't being realistic.

messrs

chipsambo wrote: »

I was looking through the forums and although there is a lot of advice on what price people would offer, compared to the asking price of a house, there was (or I could not find) much actual examples. So my question is, have you, or do you know anyone who had bought a house in the last six months from June 2011 and what was the asking price, and the sale agreed price? I know of two people I work with.

Skerries Dublin 3 bed. Asking = €260K bought for €220K
Off Blackhorse ave Dublin. Asking €285 bought for = €248K

have a look at this site

http://www.collapso.net/


scroll down the and pick a date - then once you go in you can sort by county or location and hopefully see the info you want

liliq

3 bed semi- d in Sandyford end of Dundrum in Dublin... asking €320k, getting asking price apparently. A lot of the other houses for sale on the same road are minimum €400k so maybe it's realistic pricing that's getting the asking price on this one?

4 bed semi-d in Sligo that's in good nick, asking €190k. Some other houses in the area are looking €200/210k in not great condition but they've been on the market for much longer... maybe this is realistic pricing in action again?

It's really hard to know if there's a seller being realistic and expecting asking price, or a seller chancing their arm and just hoping they get somewhere near what they ask for!

johndaman66

zyndacyclone wrote: »

I'm thinking that it's just SO overpriced still that it's probably not worth making an offer as the sellers aren't being realistic.

You would seem to have answered your own question in fairness zyndacyclone.

I think it would be shortsighted to buy a house now that you were only half satisfied with when all probability is you will be able to quite easily buy a better house for the same money if not less money a few years down the line.

CuppaCocoa

lilybarlean wrote: »

Dublin 8 - Asking 275, got it for 235!

On the other hand - house in the same estate asking €460. Sold for €460 :eek:

JoeyJJ

liliq wrote: »

3 bed semi- d in Sandyford end of Dundrum in Dublin... asking €320k, getting asking price apparently. A lot of the other houses for sale on the same road are minimum €400k so maybe it's realistic pricing that's getting the asking price on this one?

Sounds like one I viewed and I think it could have gotten asking if it is.

Another one I know of

Rathfarham asking 330 achieved 320, again it was another realistic asking priced for the amount of house you got, lots and lots of viewers went Sale Agreed within 3 weeks.

JoeyJJ

messrs wrote: »

have a look at this site

http://www.collapso.net/


scroll down the and pick a date - then once you go in you can sort by county or location and hopefully see the info you want

These are reducing asking prices, these are not sales prices. In short we need the property database setup asap to give clarity to the property market. It is in the program for Government so hopefully it will happen and sooner rather than later.

Dades

zyndacyclone wrote: »

I viewed a house small, really small cottage in Blackrock, with an asking price of 279k. It's about the size of a one bed apartment and is RIGHT beside a very busy bypass, noisy as heck. http://www.myhome.ie/residential/brochure/2-st-annes-square-blackrock-dublin-south/1277381
...

Given the amount of work that needs doing and its proximity to the road, I'd be reluctant to go over 200k for it. I'm new to buying property and sort of shy, I'm afraid to make an offer that low (yes, I know that that sounds silly to most of you but I'd love your opinion on it). It's been on the market for years btw.

That cottage is sharing the same ground as the council flats in Blackrock.



I looked at a house down there about 7 years ago without realising where it was. I wouldn't live there in a million years. It may say "Blackrock" on your post, but it won't look like it from your front door. That cottage would be overpriced even if it wasn't in the shadow of the flats.

And to think about putting the cash into making it a two story would be madness, imo. Do the total sums and see what you could get for that money elsewhere.

---

Back on topic - I've just gone sale agreed on my own house. We had a (purposefully optimistic) asking price and we took and offer of 15% less than that (after rejecting one smaller offer from the same party). It was our only potential buyer after about 5-6 weeks so I felt it would have been crazy to turn it down. Did not want to go back down the road of open views heading into the summer and with prices still falling.

Praetorian Saighdiuir

I am sale agreed on a 3 bed semi d in Cabinteely. I am a FTB, the house is 128 sq m, 80ft backgarden,garage, converted attic but lots of modernisation needed. It originally went up at 475k (Crazy),now advertised at 360, we have agreed at 290k...hopefully negotiating another 15-20k off too.

Dades

benwavner wrote: »

we have agreed at 290k...hopefully negotiating another 15-20k off too.

So when you say, "sale agreed" - you're going to screw them over by having them take the property off the market for a few weeks and then demand more off the price before signing the contract?

Whatever helps you sleep at night.

Treehouse72

The twin fixations on peak price v. today's price and asking price v. clearing price seem to fog-up people's minds. In truth, neither comparison is meaningful and they are more likely to lead to bad decisions than good.

Here's a meaningful stat: house prices are dropping at over 1% per month, and that pace might be accelerating. In such a circumstance, what difference does it make what price the house is asking?

Similarly, wondering what some place cost at peak compared to today is equally meaningless. For example, just consider the fact that credit today is waaaaaaaayyyy down on peak and in an instant the comparison doesn't make sense.

Stress-tested long term affordability, which is just another way of expressing the price you pay in the first place, is where it's at, not arbitrary numbers plucked out of the air.

Praetorian Saighdiuir

Dades wrote: »

So when you say, "sale agreed" - you're going to screw them over by having them take the property off the market for a few weeks and then demand more off the price before signing the contract?

Whatever helps you sleep at night.

Well you are a ray of sunshine arent you.

Its an executor sale. We have been sale agreed twice on this house since Feb. They have been dragging their heels for months with paperwork. They have pulled out once already (3 brothers were left the house). There is a bit of in fighting between them. They are the ones messing us about. Lies, Lies and more lies from them. Its been on the market for 16 months and they are only sorting probate out now.

Other houses in the area have popped up with less work to be done with them. So yes, if they dont lower the price for the time wasting they have caused. Then I will walk. I have no problem screwing anyone over, and why should I have a problem with it?

Its not off the market either..............its still being advertised as for sale on the websites.

the groutch

benwavner wrote: »

I am sale agreed on a 3 bed semi d in Cabinteely. I am a FTB, the house is 128 sq m, 80ft backgarden,garage, converted attic but lots of modernisation needed. It originally went up at 475k (Crazy),now advertised at 360, we have agreed at 290k...hopefully negotiating another 15-20k off too.

is that Cabinteely Cabinteely, or Loughlinstown Cabinteely?

Praetorian Saighdiuir

the groutch wrote: »

is that Cabinteely Cabinteely, or Loughlinstown Cabinteely?

Its Cabinteely Cabinteely. I currently live in Ballybrack....so Im not a location snob! I hate feckers who pull that ****e!

the groutch

benwavner wrote: »

Its Cabinteely Cabinteely. I currently live in Ballybrack....so Im not a location snob! I hate feckers who pull that ****e!

that's a very good price. hopefully you can knock a few extra quid off, but I wouldnt pull out if you don't

ionapaul

benwavner wrote: »

Its not off the market either..............its still being advertised as for sale on the websites.

If it isn't off the market, you've every right to modify your offer up to contracts are signed IMHO - as long as they are still free to tell you to GTFO if they don't accept it, anything goes. GL in the negotiations.

Dades

benwavner wrote: »

Well you are a ray of sunshine arent you.

...

Its not off the market either..............its still being advertised as for sale on the websites.

Apologies.

I've heard loads of stories about purchasers taking advantage of desperate vendors and stringing them along before putting a gun to their head at signing time.

I'm "sale agreed" at the moment and bricking it, tbh, until contracts are signed.

jmayo

benwavner wrote: »

Well you are a ray of sunshine arent you.

Its an executor sale. We have been sale agreed twice on this house since Feb. They have been dragging their heels for months with paperwork. They have pulled out once already (3 brothers were left the house). There is a bit of in fighting between them. They are the ones messing us about. Lies, Lies and more lies from them. Its been on the market for 16 months and they are only sorting probate out now.

Ah where there is a will (or maybe not) there is an argument scenario.
Don't mind Dades and this moral objection to gazundering.
Were there many people bar the ones being stung complaining about gazumping when it was happening ?

Personally I wouldn't like gazundering some poor couple who had treated me fairly, but if I had been messed about or it was an executor sale, investor or some property ladder muppet I would have no problems.

Have you set deadlines for finalisation of deal ?
If they have and they miss it, drop the price by another 10 to 15 grand.

Praetorian Saighdiuir

the groutch wrote: »

that's a very good price. hopefully you can knock a few extra quid off, but I wouldnt pull out if you don't

Hey,

It is a good price alright. Unfortunately we will need to put about 60k into it straight away to make it liveable, new heating, kitchen, bathroom etc. Never mind decorating and furnishing. There is also a hell of a crack on the party wall in the upstairs bedroom, 3/4 of a cm in some places. Structural Engineer reckons we need to take up the floor boards and brace the front of the house to the struts or something like that.

We had to reapply for the mortgage during the first time we sale agreed on this house. Then the rates went up, my P60 wasnt as good as the last one I handed in, all resulting in a lower mortgage offer all because of these idiots dragging and fighting.

ionapaul wrote: »

If it isn't off the market, you've every right to modify your offer up to contracts are signed IMHO - as long as they are still free to tell you to GTFO if they don't accept it, anything goes. GL in the negotiations.

Howaya,

It has a sale agreed sign in the garden but it is still advertised as for sale on all the websites online. We are now looking at some other properties incase it all goes pear shaped.

jmayo wrote: »

Ah where there is a will (or maybe not) there is an argument scenario.
Don't mind Dades and this moral objection to gazundering.
Were there many people bar the ones being stung complaining about gazumping when it was happening ?

Personally I wouldn't like gazundering some poor couple who had treated me fairly, but if I had been messed about or it was an executor sale, investor or some property ladder muppet I would have no problems.

Have you set deadlines for finalisation of deal ?
If they have and they miss it, drop the price by another 10 to 15 grand.

Hi, Ha nice joke about the will. They actually "lost" the will, well thats what they said but I know different. I wont post publically what happened but I will PM anyone who is curious. It has been 6 weeks since we went sale agreed the second time....our solicitor still hasnt received their paperwork yet!!!!! problems here, problems there...all BS tbh!!!!

Dades wrote: »

Apologies.

I've heard loads of stories about purchasers taking advantage of desperate vendors and stringing them along before putting a gun to their head at signing time.

I'm "sale agreed" at the moment and bricking it, tbh, until contracts are signed.

No problem Dades. I see where you are coming from. TBH im not that way inclined, I am very purposeful in my rationale. My patience is wearing thin with them....6 months to buy a "straightforward" executor sale house. :mad: Especially after all we have put up with from them...and there is a lot.

Best of luck with your sale.

djmcr

Dades wrote: »

Apologies.

I've heard loads of stories about purchasers taking advantage of desperate vendors and stringing them along before putting a gun to their head at signing time.

I'm "sale agreed" at the moment and bricking it, tbh, until contracts are signed.

If the shoe was on the other foot what would your view be then

Dades

djmcr wrote: »

If the shoe was on the other foot what would your view be then

It's never right to go back on an agreement where trust has been shown by both sides. So I wouldn't sleep at night either way.

What would solve these problems would be if deposits were actually forfeit if people backed out on agreements. As it is they are pointless.

djmcr

Dades wrote: »

It's never right to go back on an agreement where trust has been shown by both sides. So I wouldn't sleep at night either way.

What would solve these problems would be if deposits were actually forfeit if people backed out on agreements. As it is they are pointless.

In an ideal world people should not go back on agreements but that is not the way it goes unfortunately.

Deposits are there to ensure that the estate agents get their cut of the pie.

With banks changing the rules on a daily basis it would be unfair for someone to lose their deposit because the bank wouldn't(or couldn't) provide the mortgage that they had previously agreed in principle

Dades

djmcr wrote: »

In an ideal world people should not go back on agreements but that is not the way it goes unfortunately.

That was my initial gripe!

I simply don't see the purpose of a refundable deposit, tbh.