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Buying house DCC are interested in

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  • 19-12-2014 1:29am
    #1
    Dublin21
    Registered Users Posts: 183 ✭✭


    Hi all,

    I have just put in a bid for a house in dublin. I went somewhat under the asking as I know some work has to be carried out (new windows, doors, plastering, insulation etc)

    The estate agent has now told me that the county council are interested and are due to come back to him.

    Has anyone any experience bidding against the co council? Do they generally have a price they will stick to?!

    I know they will be more of an attractive buyer to the seller as they would be more unlikely to fall through but I'm just wondering if I might have a bidding war on my hands!?


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    #2
    GerardKeating
    Registered Users Posts: 7,661 ✭✭✭GerardKeating


    Dublin21 wrote: »
    Hi all,

    I have just put in a bid for a house in dublin. I went somewhat under the asking as I know some work has to be carried out (new windows, doors, plastering, insulation etc)

    The estate agent has now told me that the county council are interested and are due to come back to him.

    Has anyone any experience bidding against the co council? Do they generally have a price they will stick to?!

    I know they will be more of an attractive buyer to the seller as they would be more unlikely to fall through but I'm just wondering if I might have a bidding war on my hands!?

    Depends what the council want it. Is the a road scheme that might benefit from knocking the house ?


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    #3
    Dublin21
    Registered Users Posts: 183 ✭✭Dublin21


    Hi

    Well no its a mid terrace house in an estate..


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    #4
    the_syco
    Registered Users Posts: 37,301 ✭✭✭✭the_syco


    Does anyone know if selling to the CoCo, does it have to be put on sale for some time to see what it's worth? And if so, would this be what is happening?


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    #5
    BarneyThomas
    Registered Users Posts: 68 ✭✭BarneyThomas


    If the CC are bidding on it what will happen is they will be just shown what the top bid, when bidding reaches a desired price. They will then be told if they pay equal to that bid then its theirs.
    The CC will win here. They only have to match the highest bid (they might even be offered it at lower than the highest bid too) and they only have to bid once. Thats the power of having state coffers behind you.

    The vendor will choose them over any other bidders any day. So will the EA be pushing it for them too.

    The vendor (if they have other houses they might be selling in future), and the EA, both want a relationship with these guys. The CC has cash on hand and will close more or less immediately. there is no chance of them pulling out and there is no chance of them coming back and messing the vendor around about little things.


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    #6
    Dublin21
    Registered Users Posts: 183 ✭✭Dublin21


    Have you been through the same process??

    Well here's hoping they lose interest so!!!


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    #7
    BarneyThomas
    Registered Users Posts: 68 ✭✭BarneyThomas


    I have. And I also got the low down from an estate agent I know who goes through this process on a regular basis.

    The only way to make them lose interest in my opinion is probably to print a few hundred some letters telling people in the area that the CC is buying that house. Go around some morning soon and drop them in letterboxes on that and the surrounding streets.

    Some neighbours wont want that and some of them may just be able to pressure the situation.

    It might play out for you then.


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