what emotional nonsense are u talking about, if u like a house, you like a house .. hardly an over emotional response. If you were to apply that kinda logic to everything you did I think life would be pretty hum drum. 5k is 5k .. 10 weeks wages at average industrial wage .. hardly life changing.
taking that 5k is taking this case in isolation.
I'm talking about the "OMG MY DREAM HOME I CAN'T GO ON WITHOUT IT"
nonsense where couples get into normally paying over the odds for something because of the emotional attachment to it.
5k might be just 5k to you but over 20+ years it turns out to be a lot more than 5k and as i said in this example it's just 5k but when your bidding at 5k a pop it becomes another 5k and another 5k and another 5k
You find a number of houses you like you put an affordable limit on your bidding and your done.
no "zomg but it has lillys in teh windaz"
Methinks we're talking at cross purposes, I agree with you in so far as it's ridiculous to dramatically overpay for a house because of an emotional attachment but I don't think thats the case here.
The buyer came up with a notional value as far as I can tell based on nothing. Decided the EA was playing games coz the asking price dropped by 10k during negotiaions and got a little pissed off. He and the sellers obviously had cut off points, seems to me the sellers cut off was dictated by the bank.
Just an opinion but if it was the house he really wanted I wouldn't have thought the 5k should've been a deal breaker. As i said previously if it was generic house in a development or something then yes the 5k should be deal breaker.
"We got another bidder who said that they'll pay 5k more than your max"
If you're not emotional about the house, you'll walk away, no matter how much you wanted that house. Wanting the house (as it has X bedrooms, and within a good area), and having a non-logical emotional attachment (the bedroom is the same colour as the one you grew up in) are two very different things.
If you are emotional about the house, the EA should be able to squeeze another €50k from you with the help of the non-existant phantom-bidders that keep raising the price.
Yep maybe but that didn't happen here, he was told he could have the house for 5k more (I think) .. most negotians go that way. Person makes an offer , owner drops a bit, buyer ups a bit till eventually they meet in the middle.
What ur describing almost never happens. Buyer keeps going up for no good reason. Any agent using phantom buyers these days is just kidding themselves, it don't work.
Hi DUB DAN,
I do believe we have been chasing the same property in Kildare. If it is being sold by DNG and the house is a 3 bed semi, number 7. I have been trying to get a viewing and made loads of calls. Noone called back at any time. Eventually I ws told today by R.. that the house was part of a court ruling and a couple were bidding against each other. When I asked why I had not been told before, i.e. on any of the previous times that I had rung, he hung up on me.
Generally I find estate agents are creative with the truth and if someone they know personally is interested in the house they tell you anything to get rid of you. Also they tell people about particular properties before they are advertised on the net so when you do ring up they already have viewings arranged and again you are discouraged by being told that offers have been made already. Many of these people are operating with low levels of business ethics.
Happy House hunting !!!
Hi there just a quick question thanks
I buying my first home.
Seen a place which I had arranged to view or should I say was waiting for apt to be made when the house was sold. It was a two bed 1 bath little town house - the asking price was €78k which i thought was great value so I assume it went for €75k. it was also good nick
There are two more house for sale in same estate/court one is asking €140k and another 98k.
The estate agent that sold the house for €78k had rang me n said he was sorry but he closed on a deal the same evening I rang about it. And also said that they will not get the prices they are asking for the other two places.
Would offering 78k be made? That's over 20grand of a difference
I have a couple of friends. One works in a bank and the other is an estate agent.
Both have told me that they often can massage the parties involved in bidding to only bring certain ones to the vendors attention.
In some cases they tell the vendor that bidder x is a very solid bet and already has the money behind them, while they dont think bidder y can come up with the cost price and they think they are stretched and should ignore their bids.
Or maybe that a bidder is a known time waster and not to accept any bids from them.
Both have offered to help me out when bidding on properties on their books so that i am the only bidder.
While I am no against the idea of me getting an unfair advantage if I need one, i havent needed either of their services yet.
But if I was bidding on any house now, as well as bidding with the EA, i would certainly drop a copy of any bids I made into the house in question. Id even go so far as to find out the owners details, if they dont live there and post my bid details to them.
Outlining my position, so that the EA cant dismiss me if they have a friend who is bidding against me.
Our house was up for 475 three years ago. We offered 350, eventually settled on 380.
If I was you I'd offer 60.. Then next week 75 will sound like a good offer to them!
I have a similar story from Limerick where the market is still slow.
Asking price of house is 295k and had an initial bid of 235k.
Couple I know put in a bid of 240k.
Two days or so later and the EA says that that's completely below what they are willing to sell and maybe if they offered around 270k it might help move things along.
They did offer 270k. Cue another day or two and EA said that the sellers said they want at least 280k but if they get that they will be happy to go sale agreed. Couple are still thinking it over.
In summary the couple has the highest bid which was well before asking. They then felt they had to outbid themselves by 30k and are now being pressured to outbid themselves again by 10k.
What do you think? I think asking for another 10k is right cheeky.
Ya that's madness alright - I mean there's nothing moving - I see houses up there for over 3 n 4 years still not sold like
But I do like the idea of posting an offer to the household but I can't do that as the house I'm looking to buy is rented you see - so Im caught there - cos the estate agent will want to make as much commission as they can like
I think the EA knows the couple have fallen in love with the house, and is trying to drive the price up as high as possible before even contacting the sellers!!!
As for what they'll get out of it; they'll get a reputation for getting close to what the seller wants.