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Bidding on a house advice please!

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  • 23-04-2012 12:18pm
    #1
    GOOSEANDGANDER
    Registered Users Posts: 9 ✭


    Hi there, I am in the process of bidding on a house which has recently come to the market. I put in an offer which was 75% of the asking price . The EA has informed me that he now has a counter offer which is 3k above mine. I am looking for advice on how to proceed. Should I make counter offers in the region of 500euro to 1k or try scare off the competition by increasing it by say 5k to 10k? I do believe that the EA has a real offer as there was alot of interest at the viewings. Thanks.


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    #2
    TheDriver
    Registered Users Posts: 12,500 ✭✭✭✭TheDriver


    hmmmmmmmmmmmm, its difficult but every house in the country has a counter offer on it. Unless it is truly a once off never to come on again in the neighbourhood, I would call his bluff


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    #3
    ntlbell
    Registered Users Posts: 16,288 ✭✭✭✭ntlbell


    GOOSEANDGANDER wrote: »
    Hi there, I am in the process of bidding on a house which has recently come to the market. I put in an offer which was 75% of the asking price . The EA has informed me that he now has a counter offer which is 3k above mine. I am looking for advice on how to proceed. Should I make counter offers in the region of 500euro to 1k or try scare off the competition by increasing it by say 5k to 10k? I do believe that the EA has a real offer as there was alot of interest at the viewings. Thanks.

    There very well be no competition at all.

    I would put the price i'm willing to pay. give it to the EA as the final offer. Explain the offer has a lifetime of 5 days and you will move on to the next house if he doesn't come back within that time frame and move on.

    Don't get caught up in a bidding war when the arse is falling out of the market.


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    #4
    blueturnip
    Registered Users Posts: 166 ✭✭blueturnip


    GOOSEANDGANDER wrote: »
    Hi there, I am in the process of bidding on a house which has recently come to the market. I put in an offer which was 75% of the asking price . The EA has informed me that he now has a counter offer which is 3k above mine. I am looking for advice on how to proceed. Should I make counter offers in the region of 500euro to 1k or try scare off the competition by increasing it by say 5k to 10k? I do believe that the EA has a real offer as there was alot of interest at the viewings. Thanks.

    We have just gone sale agreed on a house, we went up in 1k increments. Not sure there was another bidder but our offer was accepted at an offer we are happy with.

    We went in with an opening bid of 15% less than asking and ended up with a price of about 13% under.


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    #5
    GOOSEANDGANDER
    Registered Users Posts: 9 ✭GOOSEANDGANDER


    Thanks for the advice!


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    #6
    scrawnybawny
    Registered Users Posts: 30 ✭scrawnybawny


    blueturnip wrote: »
    We have just gone sale agreed on a house, we went up in 1k increments. Not sure there was another bidder but our offer was accepted at an offer we are happy with.

    We went in with an opening bid of 15% less than asking and ended up with a price of about 13% under.

    blueturnip - any chance you could tell us in what neck of the woods (roughly) you are bidding, just to get an idea of what sorts of prices vendors are accepting in certain areas (i know it varies hugely from house to house but every little bit of info helps). many thanx.


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    #7
    blueturnip
    Registered Users Posts: 166 ✭✭blueturnip


    scrawnybawny wrote: »
    blueturnip wrote: »
    We have just gone sale agreed on a house, we went up in 1k increments. Not sure there was another bidder but our offer was accepted at an offer we are happy with.

    We went in with an opening bid of 15% less than asking and ended up with a price of about 13% under.

    blueturnip - any chance you could tell us in what neck of the woods (roughly) you are bidding, just to get an idea of what sorts of prices vendors are accepting in certain areas (i know it varies hugely from house to house but every little bit of info helps). many thanx.

    Hi scrawny, we are out in Lucan. We have been looking for a while(Internet shopping) and a lot of prices have dropped quite a bit.

    I did find a good site called daftdrop but unfortunately as the name suggests it only looks at properties on daft.

    I found that DNG in particular don't seem to use daft only myhome.

    The house we are sale agreed on was already way down from the crazy prices, I now someone who bought in the same estate about 3-4 yrs ago and paid nearly twice what we are paying.


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