Deposit size

recipesforme

Hi

I'm a first time buyer and I was wondering if the size of a deposit would have any influence on your success in bidding on a house?

I inherited a sizeable amount of money (about 40% of the total) and was wondering if this makes any difference to the vendor when bidding on a house

Many thanks

Gumbo

recipesforme wrote: »

Hi

I'm a first time buyer and I was wondering if the size of a deposit would have any influence on your success in bidding on a house?

I inherited a sizeable amount of money (about 40% of the total) and was wondering if this makes any difference to the vendor when bidding on a house

Many thanks

Once all parties are mortgage approved it would make no difference to me if one person had more of a deposit than the other once they were genuinely interested.

Rew

recipesforme wrote: »

Hi

I'm a first time buyer and I was wondering if the size of a deposit would have any influence on your success in bidding on a house?

I inherited a sizeable amount of money (about 40% of the total) and was wondering if this makes any difference to the vendor when bidding on a house

Many thanks

You may be more appealing in that your financially viable to buy the place but if the other bidder is too it just comes down to who is willing to pay more

recipesforme

Thanks for your replies!

gaius c

It puts you in a slightly stronger position. Just casually say you're "well in excess of 20% deposit" but don't be too specific because the EA will probably take it as an invitation to bid you up so you're left with 20% deposit.

recipesforme

That's a good idea! Thanks

gaius c

All cash would put you in a way way stronger position though.

recipesforme

Unfortunately it wouldn't be nearly enough to buy a place in Dublin on a 100% cash basis