Making an offer.....

freddy15

Hello everyone, I'm looking for a general piece of advice.......
I am a First Time buyer, I have looked at a house thats advertised asking price is 360k, according to estate agent there is bid of 330k.
Now I have looked at this house twice and am interested, i think agent realises this and has said owner may bite at 335k, and that asking price may soon drop to 345k.
I want to put an offer in, where should I start off, I am not sure if i believe estate agent when he says there is a bid in!

I would appreciate any advice!

staker

OP offer him nothing near that, try a hundred grand less at least imo...

Senna

EA's regularly say there is a bid in, in most cases the bid is fiction, but the amount of the bid is probably a figure the vendor would accept. And if they would accept that, you should be thinking lower (IMO alot lower).
Best advice is to ignore this bid and put in whatever bid you would be happy to pay.

Moonbeam

I would offer 300,as you are not in a chain and presumeably mortgage approved.You are in a good position.

spockety

It depends entirely on the house.

330K would be a bargain on Aylesbury Road, but a bit of a rip off for a 1 bed flat in Meath.

Have you got a daft or myhome link for the house?

AARRRGH

Yeah, we really need more information before we can advise.

But based on what you've told us, I would try to figure out what this house would have gotten in 2006, and half it.

ntlbell

The first thing I would do is advise the EA you won't be matching that offer and to get back to you should the offer fall through.


expect a call fairly seen after _then_ start working on your bid.

freddy15

spockety wrote: »

It depends entirely on the house.

330K would be a bargain on Aylesbury Road, but a bit of a rip off for a 1 bed flat in Meath.

Have you got a daft or myhome link for the house?

Its a 4 bed semi in walk in condition in Lucan / St Mary's.

The_Conductor

freddy15 wrote: »

Its a 4 bed semi in walk in condition in Lucan / St Mary's.

I'm originally from Lucan- and now back living in St. Mary's again. If you pop a link to the property up on the thread here- I'll give you as good an opinion as I personally can on it.

freddy15

smccarrick wrote: »

I'm originally from Lucan- and now back living in St. Mary's again. If you pop a link to the property up on the thread here- I'll give you as good an opinion as I personally can on it.

Ok Here goes...

http://www.myhome.ie/residential/search/brochure/11-esker-lodge-lucan-dublin-co&-city/VGHXP398309

freddy15

smccarrick wrote: »

I'm originally from Lucan- and now back living in St. Mary's again. If you pop a link to the property up on the thread here- I'll give you as good an opinion as I personally can on it.[/QUOT

Just another queston too...why is there such a distinction between the 3 Lucan parish? I s it solely the school situation?

The_Conductor

freddy15 wrote: »

Ok Here goes...

http://www.myhome.ie/residential/search/brochure/11-esker-lodge-lucan-dublin-co&-city/VGHXP398309

1.- the map on the site is for Edenderry- not Lucan, Co. Dublin

2. Despite the brochure making a song and dance about St. Mary's Lucan Parish- and the name of the Estate being 'Esker'- its on the far side of the Lucan by-pass- its playing on the Esker name of the estates next to Lucan Heights in the Village itself. Its actually off the Ballyowen Road. It used have its own entrance/exit (via Esker Park) onto the By-Pass- this has been blocked up for some time though.

3. If you are relying on it being in St. Marys parish (school catchment etc)- you will need to factor that it can take between 15 minutes and a half hour to get to the local schools (Presentation Convent for girls, St. Marys BNS for boys) depending on the time of day.

4. The pictures of the house do look nice- the prices being mentioned would appear to be aspirational though- and it is part of the sprawl to the south of the Lucan By-Pass (which goes all the way to Liffey Valley in one direction, Clondalkin in another- and the Newcastle Road/Adamstown in yet another direction. There is a vast oversupply of property in the area. If you are expecting a future appreciation in property value- I would not buy here.

5. It is in actual fact a relatively quiet area- if they open up the entrance/exit onto the by-pass again- it saves you a trip via the Woodies round-about onto the N4- this would be a big plus (I haven't been down that road in a while- its possible that with the completion of the N4 roadworks they may have reopened it- I'm not sure).

Its a 4 bed, seems to be nicely enough furnished- even if the garden isn't the best. It is stretching the truth making a song and dance about St. Mary's Parish- and its not a traditional house- that you'd expect in the village itself.

If you're not buying into the whole Lucan Village malarky- and genuinely like the property- and are willing to accept that you are in an urban sprawl- go for it.

What is a reasonable price? How long is a piece of string? Some of the local estate agents who do property valuations for the banks- will probably tell you what they could get for it- if they had to sell it tomorrow. Its not 300k though.......

The_Conductor

freddy15 wrote: »

smccarrick wrote: »

I'm originally from Lucan- and now back living in St. Mary's again. If you pop a link to the property up on the thread here- I'll give you as good an opinion as I personally can on it.[/QUOT

Just another queston too...why is there such a distinction between the 3 Lucan parish? I s it solely the school situation?

Lucan (St. Marys) only really split from Clondalkin in the early 50's and had Balgaddy as a satellite parish.

There is an interesting history of Lucan here

At present- its primarily a school matter- but there is also a 'status' associated with the address being St. Mary's Parish- which is the old Lucan parish- and estate agents reckon it adds ~7-8% to property prices.

freddy15

smccarrick wrote: »

freddy15 wrote: »

Lucan (St. Marys) only really split from Clondalkin in the early 50's and had Balgaddy as a satellite parish.

There is an interesting history of Lucan here

At present- its primarily a school matter- but there is also a 'status' associated with the address being St. Mary's Parish- which is the old Lucan parish- and estate agents reckon it adds ~7-8% to property prices.

Thats great! Thanks for your help. I'll have to read the history book another day!

freddy15

Has any one had dealings with EA's in the recent past?

weatherford

freddy15 wrote: »

Has any one had dealings with EA's in the recent past?

Yeah.... nothing good, however!!! :cool:

freddy15

weatherford wrote: »

Yeah.... nothing good, however!!! :cool:

care to elaborate.....??

weatherford

Mostly just lying about prices and other offers... showing me farms that aren't really listed or available... listing farms that don't exist (or aren't available)... primarily lying about prices and raising the price ("bids") once they hear my foreign accent. Funny how those same places are STILL on the market...

There is one agent in my town who ripped off his BUSINESS PARTNER in some RE deal!!! Yikes!