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Where to start bidding

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  • 06-07-2016 4:24pm
    #1
    TENHNY
    Registered Users Posts: 91 ✭✭


    House is not and will not be advertised -owner preference,
    Estate Agents said 160k will buy it,
    Where will i start with opening bid, It at higher end of our budget at 160
    so anything less than that will be off benefit too us,
    We are serious about property and don't want to come across as time wasters.
    What ye think?

    If i started with a bid 125k will estate agent think i am stray


Comments

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    #2
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    Find out what similar properties have gone for, factor in what it's worth to you and bid that. There is no magic number or formula. Other than IF the €160K is reasonable for the property €125K would be messers territory IMHO.


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    #3
    SB_Part2
    Closed Accounts Posts: 1,951 ✭✭✭SB_Part2


    Has a valuation been carried out on the property?


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    #4
    TENHNY
    Registered Users Posts: 91 ✭✭TENHNY


    MarkAnthony wrote: »
    Find out what similar properties have gone for, factor in what it's worth to you and bid that. There is no magic number or formula. Other than IF the €160K is reasonable for the property €125K would be messers territory IMHO.


    It definately worth 140 to us,
    Where would you start with a bid


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    #5
    MarkAnthony
    Closed Accounts Posts: 6,934 ✭✭✭MarkAnthony


    TENHNY wrote: »
    It definately worth 140 to us,
    Where would you start with a bid

    It's impossible to say, I started at over asking as I needed to scare away competition. If it's worth €140K to you then bid that is my only advice.

    The EA isn't going to be giving you a minimum figure I would have thought so €140K seems reasonable on that score also.

    Are their similar properties you can compare on the PPR?


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    #6
    CruelCoin
    Registered Users Posts: 4,468 ✭✭✭CruelCoin


    TENHNY wrote: »
    It definately worth 140 to us,
    Where would you start with a bid

    I would look at what similar houses have gone for in the area, and start there.

    Prices are rising, and if a couple of places identical to your sold for say 150k, then offering 140k would (and should) be rejected.

    Supply is drying up, and sellers can afford dismiss lowball offers.


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