Initial bidding offer...Help

EmerBaggott

As a soon to be first time buyer how much of a difference should I at first offer/put a bid in. For examole the house is advertised as being for sale at 330,000. What should I start off with as an offer? Cherts everyone

blueturnip

EmerBaggott wrote: »

As a soon to be first time buyer how much of a difference should I at first offer/put a bid in. For examole the house is advertised as being for sale at 330,000. What should I start off with as an offer? Cherts everyone

It depends, where the house is and how much your budget is!

What is the max you feel you want to pay?

Pick an amount and don't ever go over this.

When bidding go in below this amount so you have something to play with if there are other bidders etc.

We recently went sale agreed on a house, put in an opening offer of 15% under asking and ended up agreeing on 13% under asking.

EmerBaggott

Hi, thank you. So 15% is a good guideline then ya? I was thinking initially to put in a 1st bid of 20% below the advertised asking price...

P. Breathnach

EmerBaggott wrote: »

Hi, thank you. So 15% is a good guideline then ya? I was thinking initially to put in a 1st bid of 20% below the advertised asking price...

http://www.boards.ie/vbulletin/showpost.php?p=78397246&postcount=8

ted1

Wow go nowhere near 15% starting much lower, say 60%. Not much room for bargaining at 15%. How long has it been the current price for? I just got a house for 212 that was 390 only a few months ago

3DataModem

Without knowing the specific property, nobody can answer this.

My brother in law just sold a house for asking price, because there were a half-dozen other similar houses that were 30% - 50% higher price in the same estate. He looked at the market, picked a price he thought it would definitely sell at, and got the price within a couple of weeks.

EmerBaggott

Hey thanks all for your replies...So what im hearing us it really depends on how long the house has been for sale when deciding in what to offer initially...We dont have any 1 specific house decided on yet,the viewing will commence this week :-)

Idbatterim

impossible to say without knowing details of exact property, if you put up a link it would be helpful op...

Nabber

Short answer, offer what you think it's worth!!!



Or ask for the bid history on the house.

I went to view a house that was advertised for €180,000. Estate agent said the owner/seller had agreed €158,000, but had a messer who strung them along. New asking price €158,000 minus obligatory 25% - 30%, offer €125,000. Didn't like the house, but that's how much I had worked out my offer would have been.

You can offer what you want. If the house is €330,000, I'd offer €260,000.
Let the seller come back to you with a price, they may think it's a fair price and not budge on €330k.

If you think the house is worth €330,000 and you can afford it. Then buy it and stop wasting time in here.

ted1

Nabber wrote: »

If you think the house is worth €330,000 and you can afford it. Then buy it and stop wasting time in here.

Worst advice ever, just cause you can afford something doesn't mean you pay that price.

Ideo

Nabber wrote: »

I went to view a house that was advertised for €180,000. Estate agent said the owner/seller had agreed €158,000, but had a messer who strung them along. New asking price €158,000 minus obligatory 25% - 30%, offer €125,000. .

honestly?? just because the seller in tshi case agreed to accept 158k doesn't in the slightest suggest that 158 is the new asking price and you will get an obligatory 25%-30% off this. any buyer thinking this must be off his rocker!