Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

Not particularly common in Ireland. Usually only when bidding has been really drawn out (500 and 1k increments will do that).

Theres no right answer. It’s guesswork and the conundrum you face is exactly what the seller is seeking to create.

Only advice id have is, if you really want the house, in 2 years you will barely remember what you paid for it and definitely won’t care than you could potentially have got it for a few k less. If you go low and miss out against a price you’d be happy to pay, you could regret that for a long time. All depends how badly you want it.

A house in estate i bought is 70k above asking in a week of listing and 85k above what i paid 4 months back ! Although it’s probably 40k extra based on condition. 4bed duplex

If you've a dialogue with the Estate Agent I'd just give them a call explaining that you're interested in the house as shown by your increased offers and ask them what the other bidders "best and final offer" is. If it's still within your budget then put in your final offer.

Let them know that you don't want to waste their time or the seller's time with the nonsensical endless €500 bids. I understand people saying just bid the max you can afford but realistically no one wants to overpay anymore than we already are doing in the current market.

We went sale agreed a couple of days ago, 45k over asking price it's been a very stressful couple of months so I understand your frustration with it. Best of luck with it all.

There has been a dozens and dozens of variations of this comment since 2020.
Yet the people who do buy find their neighbours is selling for €40k more a few months later.

It always seems like terrible value when you’re buying, but 9/10 you look back a year later and see it as a bargain. I went through it myself.

I think a crash is nearby.

Bid the amount where you wont be upset to find out the other crowd got it

What do you think will be the cause of a crash?

Demand for houses is still far greater than supply. Credit is still widely and easily available for those with decent income, if prices get to a point where people are unable to afford to borrow then this will result in a cooling off or slight decrease in prices but not a crash.

The one possibility for a crash is a global level recession affecting both jobs and credit availability but the US debt bubble is yet to burst to trigger that.

up 80k over asking today ! This is a 600+ house and bidding war is unimaginable..Crazy

The peak now is worse than it was just before the last crash. I am being offered a mortgage by my bank that I can not make repayments on. I'm sure many will not be able to make the repayments. The prices are bananas

Global..stocks were overheated, jobs were scarce, gov debts were at record highs..then covid happened war happened and nothing..lol hope bubble did not go bigger before bursting😜😜

They 100% aren't being offered a mortgage that they can't afford. They set up a thread complaining about how the questions they're being asked on the application for a mortgage and refusing to give the required information so not even at the AIP stage never mind anything else.

I'm pretty sure the first bid you place on SherryFitz online has to be accepted by the agent. So the agent could refuse your offer of it was below the vendor's lower limit. I've offered below asking on it before but the bidding had already started at about 10% under.

well they are growing in months..a house has a highest bid of now 103k to what we paid 4 months back…600k bracket

interest rates falling does not help..anything in good knick will have bidding wars..

Just gone sale agreed. House was on the market nearly 5 months. Had to drop the price unfortunately. Hopefully the buyers want to be in before Christmas. What are people averaging time wise from sale agreed to contracts signed. No chain on either side. No planning or title issues.

Was the house in Dublin? About 2 months since no issues on both sides.

Not Dublin. Rural but commutable to Dublin.

I'm at 11 weeks and just signed, solicitor said 4-5 more weeks. It's tedious!! But basically think it depends on the solicitors involved

Hi All,

We’re in the process of buying a new build and for some reason I was under the assumption it wouldn’t need a structural review only a snag list.

Have any folks here who have bought new builds gone for the full structural review and not just a snag list?

Trying to understand why a new build may need one but perhaps I’m putting too much faith in the developers 😅

Happens quite often I would imagine.

Our bank valuer had our house down as being timber framed (which is wasn't), which nearly collapsed our mortgage application.

Obviously just hadn't bothered checking the copy and paste properly