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How much to offer?

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  • 11-11-2013 9:09pm
    #1
    smokeyjoe123
    Registered Users Posts: 53 ✭✭


    Looking for some opinions on how much to offer for a property.

    It's a 4 bed/2 bath detached in a rural-ish location (well outside dublin), asking ~160k. It has been reduced already from just over 200k I believe.

    Talked to the estate agent a couple of weeks ago and they said there was an offer in on it (~140k/145k) that was probably going to be accepted. Got back to us today saying we can view it tomorrow evening and this weekend. This house has been listed for a good few months now and there has been only a few sales in the local area this year. It's hard to know if the EA is being genuine. It was taken down from daft a few weeks ago but went back up a few days later, EA said an offer fell through.

    Anyway, we would be cash buyers for this property. Do you think we could chance going in lower than 140 as we don't require a mortgage?

    The missus already loves it and wants to go in straight at ~150. I think this is silly and we could get it for a lot less. It looks like a really nice property though, so I don't want to lose out.

    Thoughts/suggestions?

    Thanks


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    #2
    Moonbeam
    Moderators, Education Moderators, Society & Culture Moderators Posts: 18,953 Mod ✭✭✭✭Moonbeam


    I would go in as low as you feel comfortable doing,if they reject it then you go a bit higher and state that is your final offer.


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    #3
    Woodville56
    Closed Accounts Posts: 1,643 ✭✭✭Woodville56


    Anything comparable sold in the area recently against which you could benchmark the property ? same no of rooms/bath/detached/semi d etc in same locality or anywhere nearby ?
    Might be best not to go the whole hog in your first offer , hold something in reserve in case you're outbid. Its important that you have an upper limit beyond which you walk away, try not to get sucked into a bidding war, no matter how much the house ticks all your boxes !
    Good luck !


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