Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

How long should you leave a property on the market?

Options
  • 19-08-2015 9:44am
    #1
    MetHerInSolas
    Registered Users Posts: 122 ✭✭


    • I have had my property on the market for 5 months (2 bed apartment south-west Dublin).
      I have received two offers, the last one was two months ago and was €13,000 off what I could accept.
    • I am moving into a new home at the beginning of October so should I just rent?
      From what I have been told if you can't sell over Summer months its unlikly you will sell over Autumn/Winter months.

    Advice on this gratefully received....cheers


Comments

  • Options
    #2
    zl1whqvjs75cdy
    Closed Accounts Posts: 4,042 ✭✭✭zl1whqvjs75cdy


    If it hasn't sold yet and you are receiving offers considerably under the asking price, it would suggest that the property is over priced. Obviously I can't tell having not seen the property but that's what it looks like.


  • Options
    #3
    johnnyskeleton
    Moderators, Entertainment Moderators, Politics Moderators Posts: 14,507 Mod ✭✭✭✭johnnyskeleton


    If you can afford to keep it on the market then you can keep it there for years or until someone offers you an acceptable price.

    If you cant afford to do that, you may have to accept the lesser offer.


  • Options
    #4
    pixbyjohn
    Registered Users Posts: 6,250 ✭✭✭pixbyjohn


    Leave it up for 9 months


  • Options
    #5
    MetHerInSolas
    Registered Users Posts: 122 ✭✭MetHerInSolas


    Why do you say 9 months?


  • Options
    #6
    lima
    Registered Users Posts: 1,239 ✭✭✭lima


    You're pricing it too high.


  • Advertisement
  • Options
    #7
    MetHerInSolas
    Registered Users Posts: 122 ✭✭MetHerInSolas


    I have already come down some, I could come down €7,000 even though the EA has cautioned against it....


  • Options
    #8
    meme74
    Closed Accounts Posts: 153 ✭✭meme74


    If you can afford to come down €7k then would you not (or maybe you have done so already), go back to the highest bidders and tell them you will go sale agreed if they up their offer to the amount you need. If the have offered €13k under asking price and you say you canc ome down €7k then they need to up their offer by €6k which may be possible if they are really interested. And if not, they may offer somewhere in between.


  • Options
    #9
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    I think the OP means 13k below what they can accept not 13k below asking.


  • Options
    #10
    Garzorico
    Registered Users Posts: 1,196 ✭✭✭Garzorico


    If you haven't gone sale agreed within 6 weeks its overpriced.


  • Options
    #11
    Magicmatilda
    Registered Users Posts: 601 ✭✭✭Magicmatilda


    Have you checked on the proprty Price register to compare how it is priced with similar properties recently sold?

    Renting is good at the moment as you will get a high price however given that the property market is falling at the moment (in reaction to CB rules) you might be better to sell now.


  • Advertisement
  • Options
    #12
    meme74
    Closed Accounts Posts: 153 ✭✭meme74


    My apologies have just re-read and noticed you said €13k below what you could accept. Thats what I get for skimming through posts!


  • Options
    #13
    gaius c
    Registered Users Posts: 3,528 ✭✭✭gaius c


    MetHerInSolas wrote: »
    • I have had my property on the market for 5 months (2 bed apartment south-west Dublin).
      I have received two offers, the last one was two months ago and was €13,000 off what I could accept.
    • I am moving into a new home at the beginning of October so should I just rent?
      From what I have been told if you can't sell over Summer months its unlikly you will sell over Autumn/Winter months.

    Advice on this gratefully received....cheers

    What do you mean by this? Is there bank involvement in this sale?

    If you can't sell a property within 5 months, especially in Dublin, your price is wrong.


  • Options
    #14
    MetHerInSolas
    Registered Users Posts: 122 ✭✭MetHerInSolas


    The last offer I received was €13,000 off what would allow me bring even.

    No bank involved in the sale.

    Taking advice from EA on price.


  • Options
    #15
    L1011
    Registered Users Posts: 68,919 ✭✭✭✭L1011


    You can't afford to sell in that case - it's overpriced.


  • Options
    #16
    I Am The Law
    Registered Users Posts: 657 ✭✭✭I Am The Law


    MetHerInSolas wrote: »
    The last offer I received was €13,000 off what would allow me bring even.

    No bank involved in the sale.

    Taking advice from EA on price.

    I take it that this relates to a price you paid for the house, if you feel you can't sell below this price then, in my opinion, withdraw from the market.


  • Options
    #17
    wetlandsboy
    Registered Users Posts: 209 ✭✭wetlandsboy


    I would see what other houses in the area are going for, or have gone for, and price similarly.


  • Options
    #18
    Toots
    Administrators, Business & Finance Moderators, Society & Culture Moderators Posts: 16,920 Admin ✭✭✭✭✭Toots


    wetlandsboy wrote: »
    I would see what other houses in the area are going for, or have gone for, and price similarly.

    +1, if you're pricing higher than similar properties in your area then yours will need to have something extra to justify the price difference. What advice is your EA giving you? Have they given a reason why they don't recommend reducing the price?


  • Options
    #19
    Bray Head
    Registered Users Posts: 896 ✭✭✭Bray Head


    MetHerInSolas wrote: »
    The last offer I received was €13,000 off what would allow me bring even.

    No bank involved in the sale.

    Taking advice from EA on price.

    What allows you to break even is irrelevant. What you have is something called 'loss aversion' and it's a common cognitive bias.

    Sometimes you have to take the hit. I've done it in the past. It hurt, and people cautioned against it. But I'm glad I did it. The alternative would have been years of hassle letting a place I had zero interest in. Is that what you would prefer?


Advertisement