House for sale - Do I sell now?

Morbid.Angel

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JoeyJJ

Just to give you a buyers perspective.

I am looking to buy at the moment and have been for a while. When a new property goes up on Daft/MyHome I know about it in a few hours via subscribing to emails of any properties that newly appear in my search criteria. I don't think this is unusual and I would expect most serious buyers to use the same tools at their exposure.

So the question is do you think the local papers will entice anyone else to look? Maybe it will however most serious buyers ready to move will know about it in my opinion.

Regarding if you should accept, not sure, wouldn't like to say as it would be different for lots of people however the price will not be going up any time soon could be 20 years or more.

Morbid.Angel

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Ask the estate agent to check which buyer has a letter of approval from a mortgage company or the asking price in cash thats what you make your decision on.

The the first offer on my house fell through because they couldn't get finance.

Then I had two people after my house one was offering my 2,500 euro more than the other was...but the other one had a letter of offer for a mortgage so I went with that one purely because of the letter from the mortgage company.

A letter of offer for a mortgage is like having 3 aces when you are buying a house.

Morbid.Angel

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antiskeptic

Morbid.Angel wrote: »

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My inclination is to suspect that most serious buyers will be plugged automatic alerts/regular trawl of the websites. The other, more traditional ways of advertising houses are relatively speaking, dead ducks.

Which means that the most buyer activity will occur as soon as competitively priced property comes up on myhome/daft.

Miss that first wave and you can expect to have missed the boat. This isn't to say you'll not sell the property at a better price but without that first wave and with a falling market, the odds are slimmer. Anyone coming up against a property which has sat on the market a while will be psychologicially geared towards offering a below-asking price.

Theboinkmaster

Morbid.Angel wrote: »

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Without knowing the specific details id say accept the offer and that it is unlikely you'll get much more for it.

Property price declines are actually accelerating on average and prices and only going to continue to lower therefore what these interested buyers are willing or able to pay now, will be substanially lower in 6-12months.

beeno67

Morbid.Angel wrote: »

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The bidder who is dragging his heels probably went onto this website and gave some details. Everyone online responded by saying "there can't be 2 bidders, don't believe estate agent lies, wait a week then offer an even lower price!"

Take whatever bid you get. People these days are very reluctant to bid over the asking price. You are unlikely to get more than current offers unless house offers something unique

the_syco

Morbid.Angel wrote: »

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Maybe ask the EA if finds people are getting mortgage approvals for the price you're asking, or not?

By this, I mean the banks may not give someone the full price you're asking for, so €30k below what you want may be better than a lot more below what you want if the buyer is going through the banks?

Treehouse72

Take the money and run away very quickly.

djmcr

Treehouse72 wrote: »

Take the money and run away very quickly.

Then next problem arises, where can I put my money safely

ricman

Sell now,most prospective buyers cant get a mortgage.Put money into a uk bank if you are worried about irish banks.

the groutch

make the EA give the bidder who's "dragging his heels" an ultimatum, ie. a higher offer (and a proper one, not €100 more) by the end of the week.
if they are serious about it they'll make another offer, if not sell to the current highest bidder.

not worth your while advertising elsewhere, most people look at property online, and waiting to see does a newspaper ad bring in more people will only hold things up, and potentially drive away the current highest bidder.

Dades

antiskeptic wrote: »

Miss that first wave and you can expect to have missed the boat.

My thoughts exactly.

You've picked the "low hanging apples", so to speak. Take the best price you can get from those who have seen it or you'll waiting for an unlikely apple to drop while prices continue downwards.

As mentioned previously - I'm sale agreed on my own gaff - after taking the offer (after a brief haggle) from the only bidder after loads of viewings. I wasn't going to try my luck another bidder would appear from nowhere after the house remained on the market.

kennyb3

Treehouse72 wrote: »

Take the money and run away very quickly.

+1, before more decreases in value and more interest rate rises. Getting 5k more than what its asking even when starting at a lower than hoped value is outstanding. Most places go for in the region of 10-20% below asking from everything i ve read.

Run forrest run