Asking Price V Sale Price

janeysorcha

Myself and my other half are preparing to buy our first home in the Dublin 12 area. I'm curious - how much over the asking price did people go???

heebusjeebus

janeysorcha wrote: »

Myself and my other half are preparing to buy our first home in the Dublin 12 area. I'm curious - how much over the asking price did people go???

No sale is the same I'd say.
I'm sale agreed at the moment and the agreed price was nearly 30,000 less than asking. This was agreed a week after the seller dropped his asking by 50,000.

janeysorcha

heebusjeebus wrote: »

No sale is the same I'd say.
I'm sale agreed at the moment and the agreed price was nearly 30,000 less than asking. This was agreed a week after the seller dropped his asking by 50,000.

Of course, just a conversational subject rather than a guidance tool! I know of a couple who went 40K over asking price, it's interesting to see how realistic the asking prices really are...

sbs2010

I think different agents have different tactics.

Price low to generate interest and maybe even a bidding war versus price more accurately to cut out the messing with bids that won't be accepted.

Of course it's hard to get right either way as there's so many variables that go to determine the final dale price.

heebusjeebus

heebusjeebus wrote: »

No sale is the same I'd say.
I'm sale agreed at the moment and the agreed price was nearly 30,000 less than asking. This was agreed a week after the seller dropped his asking by 50,000.

Do you mind me asking was that a Dublin sale? I'd imagine most Dublin houses right now, considering the demand, would go for at least their asking price.

Malari

Went €45k over asking a few years back and still think I got a bargain!

heebusjeebus

[Deleted User] wrote: »

Do you mind me asking was that a Dublin sale? I'd imagine most Dublin houses right now, considering the demand, would go for at least their asking price.

Ya Dublin 8 but house needs work. Similar houses, renovated recently we're going for a lot more.

myshirt

I would say in most cases you are talking no less than 5% over asking, and on the other end all the way up to 15%. Of course you'll have the few in there that are less or more, but ball park it's the 5-15 range I'd be placing my mind if I was a young buyer out there.

f@steddie

janeysorcha wrote: »

Myself and my other half are preparing to buy our first home in the Dublin 12 area. I'm curious - how much over the asking price did people go???

The asking price is basically irrelevant. Forget about it. What is the house worth to you?

LiamoSail

In Dublin at the miniute properties are going significantly over asking. If you're using daft to measure what you can get for your money, you'll be way off

zl1whqvjs75cdy

Buying in north kildare at the moment. Asking price is where the bidding starts. Most going 10% plus over asking. Was chatting to an agent today who has a 10 years plus experience and she said trying to value is very difficult now. Granted she could just be ****e at her job but it's interesting anyway.

closifer

We are just completing a sale in limerick. 29k over asking price. We were aggressive after having lost out on 4 other houses through crazy bidding wars. We put in the bid almost immediately after house went up and gave 24 hours for a decision. If it had stayed on the market and gone to bidding I am confident it would have gone for more

Michellenman

We ended up going 14k over the asking price in Dublin 7. In saying that, the first house we bid on which was nearly identical to the one we have albeit a bit smaller finished up on 75k over the asking price. DNG had the first house up for 295k in an area where nothing similar had sold for even close to that in well over 18 months, it sold for 370k. Our house was up for 360k and we got it for 374k through sherry fitz. IME Sherry Fitz have been the best at giving accurate asking prices in that area.

toodelies

We recently completed the sale of an apartment and the purchase of a house in
Sth Dublin. We took an asking price offer on the apartment, it was priced well at our insistence with the agent. The vendors of the house we bought had dropped the sale price by 30k and we bought for the asking price once they had dropped the price. Apparently the house hadnt generated much interest and was clearly over priced. We had been bidding on numerous other houses before this basically starting at asking price and we were out bid consistently anywhere from 10k to 50k at the worst

janeysorcha

Any bidding tactics?

ted1

janeysorcha wrote: »

Any bidding tactics?

Bid what you can afford and don't go over your budget

toodelies

janeysorcha wrote: »

Any bidding tactics?

We bid on everything we liked and could afford, made asking price offers and dropped out of bidding when we hit the top of our budget.

Michellenman

Michellenman wrote: »

We ended up going 14k over the asking price in Dublin 7. In saying that, the first house we bid on which was nearly identical to the one we have albeit a bit smaller finished up on 75k over the asking price. DNG had the first house up for 295k in an area where nothing similar had sold for even close to that in well over 18 months, it sold for 370k. Our house was up for 360k and we got it for 374k through sherry fitz. IME Sherry Fitz have been the best at giving accurate asking prices in that area.

So that was just 4% over asking price which is fair enough - I think you could easily expect up to 10% in Dublin. But the 25% over price is quite a difference but possibly explained with demand/supply in that area.

Heart Break Kid

janeysorcha wrote: »

Myself and my other half are preparing to buy our first home in the Dublin 12 area. I'm curious - how much over the asking price did people go???

20k-30k over a property thats ready to move straight away.

10k for something that needs a lot of work


Also D12

janeysorcha

Our approval doesn't leave an awful lot to play around with so hoping we get lucky...

househunter08

We are buying in D12. Agreed price was 20k over asking and i would say it was priced reasonably to begin with. Have been looking in the area for about 9 months and have also seen some places go 50-60k over asking but I would say those houses were under priced to begin with.

Agree with previous poster; bid on what you like and be prepared to back out when your budget is reached. Unfortunately, i don't believe there is any tactic that can really help in the current market as each sale is different (and we tried them all! Small increases, knock out bids, leaving days between counter bids etc.) In the end the house we got actually went to sealed bids as the seller was an executor and wanted to wrap things up. We just got extremely lucky!

Good luck, I wouldn't want to be doing it again! (Hoping to have our keys in the next 2 weeks)

CreativeSen

We have just gone sale agreed in D9, went over by 10.5% for a property that we can move into straight away. Estate agent was Sherry Fitz.

When we started looking I heard through the grapevine that some houses are going for 20% over the ask.

After looking at the quality of whats available (varies wildly!) it would seem to me that fixer uppers, which tend to be cheaper, are going for significantly more than the ask. While houses that you can move into today tend to be going over a little less. But this is just an observation from me

Cuddlesworth

janeysorcha wrote: »

Any bidding tactics?

Don't do this....

fg1406

I kept an eye on the local market in the 3 months prior to us actively going viewing to bid. I did notice that one estate agent put asking prices on properties quite high, and then reduced them every few weeks, to make it seem like people were getting a potential bargain.

Other than him, overall the properties that sold relatively quickly were all 10% either side of asking price.

This is a medium sized regional town.