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Budget - what to tell the agent?

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  • 24-01-2013 11:03pm
    #1
    mel.b
    Registered Users Posts: 3,130 ✭✭✭


    With a lot of houses still overpriced, or not having reduced in price how do you answer when the agent asks you your budget and you want to look at houses that are above this (by 25 -30%)? am i being completely unrealistic thinking i could get a house that is €185,000 for closer to €150,000? I'm in a country area so not always a lot of comparables to help sellers see sense. Do you say i'm looking in the range of... or that it's flexible & dependent on the house or...?


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    #2
    ABajaninCork
    Closed Accounts Posts: 8,411 ✭✭✭ABajaninCork


    Tell the EA you're looking in a certain price range. But NEVER tell them the budget!


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    #3
    mel.b
    Registered Users Posts: 3,130 ✭✭✭mel.b


    So does that price range go over my budget, for example "i'm looking in the €130 - €170 range"


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    #4
    D3PO
    Registered Users Posts: 7,879 ✭✭✭D3PO


    tell the agent your budget is your own business. You should have an idea what type of house in what area your interested in and research should let you figure out if its in your budget.

    tell the ea this is the type of house and area we want to know about but say nothing about your budget


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    #5
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    Tell the agent nothing. You'll only encourage them to stretch you to the end of your budget.
    Look up the property price index and suss out what others have paid for similar houses in that area. If the prices are from the end of last year, subtract off 5% at least because MIR is gone for first time buyers now. I got told this by an Ulster bank mortgage advisor btw.


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    #6
    the_syco
    Registered Users Posts: 37,300 ✭✭✭✭the_syco


    The EA works for the seller, not the buyer. So you'll end yup paying the max no matter where you stay, if you tell them your max budget.


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    #7
    who_ru
    Registered Users Posts: 2,033 ✭✭✭who_ru


    the_syco wrote: »
    The EA works for the landlord, not the tenant. So you'll end yup paying the max no matter where you stay, if you tell them your max budget.

    the OP is looking to purchase a house.


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