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Low ball offer

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  • 01-03-2017 1:39pm
    #1
    Hollister11
    Closed Accounts Posts: 5,482 ✭✭✭


    My parents are looking at a house that has been the market for 15 months and no offers have been made. The price was dropped by 25K a few months back. My parents plan to offer 45K below asking, but I think they low ball them and offer 75K below asking.

    Doss anyone have any recent experience in these types of scenarios.


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    #2
    Barely Hedged
    Closed Accounts Posts: 992 ✭✭✭Barely Hedged


    Hollister11 wrote: »
    My parents are looking at a house that has been the market for 15 months and no offers have been made. The price was dropped by 25K a few months back. My parents plan to offer 45K below asking, but I think they low ball them and offer 75K below asking.

    Doss anyone have any recent experience in these types of scenarios.

    "Recent experiences."

    You offer considerably lower than asking if the property is over valued.

    Some properties have been, are and will be over valued. It's a property market


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    #3
    JimsAlterEgo
    Registered Users Posts: 1,917 ✭✭✭JimsAlterEgo


    Hollister11 wrote: »
    My parents are looking at a house that has been the market for 15 months and no offers have been made. The price was dropped by 25K a few months back. My parents plan to offer 45K below asking, but I think they low ball them and offer 75K below asking.

    Doss anyone have any recent experience in these types of scenarios.

    is it a 100K or a 1.5M house? no harm in offering what they want, what are similar in the area going for?


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    #4
    Lux23
    Registered Users Posts: 7,134 ✭✭✭Lux23


    It might be still on the market because the vendor can only accept a certain amount so low balling them may be a waste of your time and theirs.


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    #5
    April 73
    Registered Users Posts: 846 ✭✭✭April 73


    Anyone who has a house on the market for 15 months isn't going to accept an offer so far below asking.
    Anyone who is serious about selling can sell. It doesn't take 15 months unless there is a reluctance to sell.


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    #6
    the_syco
    Registered Users Posts: 37,301 ✭✭✭✭the_syco


    April 73 wrote: »
    It doesn't take 15 months unless there is a reluctance to sell.
    Agreed. And if they accept, get a good surveyor, as if it's on the market that long, there's a chance there's a reason it's been there that long.


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    #7
    astrofool
    Registered Users Posts: 16,683 ✭✭✭✭astrofool


    We've seen a few houses drop prices recently but more to drum up interest, they already had offers above the new asking price.


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    #8
    Hollister11
    Closed Accounts Posts: 5,482 ✭✭✭Hollister11


    Well we viewed the house at the end weekend and it's very impressive. All that needs to be done is redecoration, but the house is in pretty good condition none the less.

    My folks are talking to the bank and subject to selling our current target house, they are going to match asking as the latest offer is 10K under asking.


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    #9
    [Deleted User]
    Posts: 17,728 ✭✭✭✭ [Deleted User]


    Hollister11 wrote: »
    My parents are looking at a house that has been the market for 15 months and no offers have been made................................
    Hollister11 wrote: »
    ..........

    My folks are talking to the bank and subject to selling our current target house, they are going to match asking as the latest offer is 10K under asking.

    so an offer materialised in the last few days?


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    #10
    Hollister11
    Closed Accounts Posts: 5,482 ✭✭✭Hollister11


    Augeo wrote: »
    so an offer materialised in the last few days?

    That's what we were told on Saturday. There was an open viewing.


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    #11
    Homer
    Registered Users Posts: 4,306 ✭✭✭Homer


    The market will generally dictate the price. If the house has been on the market for a long period and hasn't sold then usually there's a reason and that reason could well be price! We recently bid on a house at €50k under the asking (house was up at €400k) but had been up nearly 2 years. They came back €25k higher and we are now somewhere in between those two prices! So it is possible to negotiate significant discounts in certain circumstamces. If it's a nice house in a sought after area (schools/public transport links/etc) maybe not so much!


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