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First time buyer putting first offer on house

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  • 05-06-2012 1:59pm
    #1
    bobcat23
    Registered Users Posts: 3 ✭


    Hi,
    I am a first time buyer and have viewed a 3 bedroom house in the limerick area that I think i would like to put an offer in for. The asking price is 175,000....my initial offer was going to be around 148,500....is this a reasonable offer?
    New to this so...any advice would be great.


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    #2
    the_syco
    Registered Users Posts: 37,299 ✭✭✭✭the_syco


    bobcat23 wrote: »
    The asking price is 175,000....my initial offer was going to be around 148,500....is this a reasonable offer?
    2 bed, 3 bed? Detached, semi-detached?


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    #3
    bobcat23
    Registered Users Posts: 3 ✭bobcat23


    It's a 3 bed semi detached....


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    #4
    Theboinkmaster
    Registered Users Posts: 3,994 ✭✭✭Theboinkmaster


    bobcat23 wrote: »
    It's a 3 bed semi detached....

    You are basically asking what the value of the house is. To determine this we need a link to it or alot more details. Referencing the asking price & offer is irrelevant and has really nothing to do with the value of the property.


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    #5
    Cool Rider
    Registered Users Posts: 78 ✭✭Cool Rider


    Do some research on Myhome and daft that whats the asking price of similar properties in area on sale/sale-agreed. In my opinion 10-20% below asking price is a fair offer. Go with your gut place the offer and put the ball in their court, you have nothing to lose, if you wont low-ball you will never find out that it'll work or not.


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    #6
    Cool Rider
    Registered Users Posts: 78 ✭✭Cool Rider


    Depends on whats happening in wider Europe:
    1) Greece will exit Euro [hmmmm 99.99% sure]
    2) Spain will need bailout http://www.irishtimes.com/newspaper/breaking/2012/0605/breaking2.html

    These 2 things will change the whole game once again, it'll be foolish to call any bottom till EU wide problems are solved comprehensively by EU leaders [read Germany].


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