Refused a viewing on house for sale

38 redwood

House in Castleknock first advertised for sale asking 350 Euro on "My Home" on 1st May. We went on Holiday from 2 - 11 May. This morning 13th May I checked and house still advertised for sale. I rang EA to make an appointment to view. She tried to put me off by telling me that they had an offer of 400 Euro. This didnt put me off as house looked lovely and in a nice estate. I replied that I would still like to see it. She said they were only dealing with people who had already viewed it. I told her we were out of the country so could not view. I thought she was joking because we have never heard of this before. When I told her I found that very strange she said she was acting on instructions from Vendor. We have sold our house with money in the bank but she never asked me any questions. She never used the words sold or sale agreed which I would have accepted she just said that they were only taking bids from previous viewers. House on market less than 2 weeks. Not a local EA used so maybe a reposession.

D3PO

I don't understand the logic but I also don't see why you would want to view a house already over 14% above asking.

if you think theres something fishy go to the house and speak to the seller directly but otherwise I have no idea why you would want to view via the EA knowing your going to have to bid way over asking.

SCOOP 64

Wow, a sellers market already!

StillWaters

It's a strange one alright, but it sounds like there is a bidding war going on near completion. I'd say keep looking OP.

38 redwood

Thank you all for taking the time to reply. Will be interesting to see on Property Price Register what price is actually paid for it. I have to tell you prices are definitely going for alot more than the asking price in Castleknock for last few months. The above house had a Castleknock address but is actually near the Bell pub in Blanchardstown. We have been actively searching fo 10 months. My daughter just sold her SD house in Luttrellstown for 55,000 Euro over asking price so house prices are definitely moving up. She had 34 parties looking at her house at 1st open viewing so demand is very strong. We are getting desperate paying 1500 Euros for rent/storage PM. We are retired so unless we win the prize bonds our money (proceeeds of our house sale) will be decreasing. Thanks again

thetl

As dp30 says go direct to the people selling the house and explain that you haven't been afforded the opportunity to even view their house and explain you have the funds waiting to purchase.Personally I would be outraged if I was selling a house and auctioneer refused any suitable person a viewing

davet82

sale of house near completion between one or more bidders and the EA has there commission why risk a sale or the hassle of involving you is the way I read the situation you described.

As for people reporting increasing house prices (not doubting you) the country must be in a better state than we're been constantly told, who are these people that are throwing 55k over the asking price???

listermint

davet82 wrote: »

sale of house near completion between one or more bidders and the EA has there commission why risk a sale or the hassle of involving you is the way I read the situation you described.

As for people reporting increasing house prices (not doubting you) the country must be in a better state than we're been constantly told, who are these people that are throwing 55k over the asking price???

If the stats are to be believed its people of the age profile of 45 who did reasonable well out of the whole 'celtic tiger' thing. The younger generation are most likely to be spending less day to day and be in negative equity.

Folks in the twilight of or with no mortgages currently in later life have money to spend.

beeno67

davet82 wrote: »

sale of house near completion between one or more bidders and the EA has there commission why risk a sale or the hassle of involving you is the way I read the situation you described.

As for people reporting increasing house prices (not doubting you) the country must be in a better state than we're been constantly told, who are these people that are throwing 55k over the asking price???

So if house went on sale with an asking price of 500k and the OP offered 400K that would be ok but asking price was 350 and now asking 400K is odd? It's the same house. One you haven't seen (and are unlikely to now if the EA has anything to do with it).
It's all asking prices. That's all.

davet82

listermint wrote: »

If the stats are to be believed its people of the age profile of 45 who did reasonable well out of the whole 'celtic tiger' thing. The younger generation are most likely to be spending less day to day and be in negative equity.

Folks in the twilight of or with no mortgages currently in later life have money to spend.

I suggest an over 45's tax then!

but seriously could there be enough of them out there to forcing prices up like that, obviously so I guess...

davet82

beeno67 wrote: »

So if house went on sale with an asking price of 500k and the OP offered 400K that would be ok but asking price was 350 and now asking 400K is odd? It's the same house. One you haven't seen (and are unlikely to now if the EA has anything to do with it).
It's all asking prices. That's all.

I was referring to her daughters house, unless it was seriously undervalued and the EA was either really clever or really stupid depending on what view you take on it, it did actually go for 55k more than the asking, I don't really have a strong opinion either way on what way the property market is going as its just to chaotic at the moment

Gosub

beeno67 wrote: »

So if house went on sale with an asking price of 500k and the OP offered 400K that would be ok but asking price was 350 and now asking 400K is odd? It's the same house. One you haven't seen (and are unlikely to now if the EA has anything to do with it).
It's all asking prices. That's all.

Having just agreed a purchase at 26% over the asking price, I would have to agree... asking price is just a starting point. It can go either way.

Bidding wars are a b¡tch. :mad:

beeno67

davet82 wrote: »

I was referring to her daughters house, unless it was seriously undervalued and the EA was either really clever or really stupid depending on what view you take on it, it did actually go for 55k more than the asking, I don't really have a strong opinion either way on what way the property market is going as its just to chaotic at the moment

But it is only asking prices. If asking prices had to be the true market value then it may be strange but otherwise it is not strange at all. Some people pitch the price high knowing full well they will drop the price at a later date and people will think they are getting a bargain. Others pitch the price low to stimulate interest in the hope of starting a bidding war

techdiver

I think people who are paying these prices are in for a sharp shock in the coming months/years when this "dead cat bounce" phase finally ends.

No end of stupidity in Ireland when it comes to property! :rolleyes:

davet82

beeno67 wrote: »

But it is only asking prices. If asking prices had to be the true market value then it may be strange but otherwise it is not strange at all. Some people pitch the price high knowing full well they will drop the price at a later date and people will think they are getting a bargain. Others pitch the price low to stimulate interest in the hope of starting a bidding war

I do understand that. I was presuming that the daughters house was priced in line with other house prices on the PPR in the area, which we don't know so point taken

Gosub

techdiver wrote: »

I think people who are paying these prices are in for a sharp shock in the coming months/years when this "dead cat bounce" phase finally ends.

No end of stupidity in Ireland when it comes to property! :rolleyes:

I paid over the asking price because it was exactly what I was looking for. I have no intention of ever selling the place, so what happens with the market now is of no concern to me whatsoever.

The fact that I had to outbid 3 other buyers only confirms my own thoughts that the house was underpriced.

No end of stupid comments it seems.

techdiver

Gosub wrote: »

I paid over the asking price because it was exactly what I was looking for. I have no intention of ever selling the place, so what happens with the market now is of no concern to me whatsoever.

The fact that I had to outbid 3 other buyers only confirms my own thoughts that the house was underpriced.

No end of stupid comments it seems.

The fact that you overpaid for the property is not proof in itself that the house was under-priced.

I could win the lotto in the morning and decide, for the laugh mind you, to pay 4 million for a 3 bed semi in Lucan. Does that then mean that all semi's in Lucan are worth 4 million?

I'm not having a go at anyone specific, in fact I commend your attitude towards your purchase and that is the attitude everyone should adopt (a house is a home not a step on this mythical ladder to be flipped in a few years to trade up). I'm just stating that I find it amazing that after everything that is happened in this country people are once again starting to out bid each other over the asking price for houses.

If you can afford it and service the mortgage (or are a cash buyer), then go ahead. I believe that all economic indicators point towards more trouble on the horizon across the world economy and that delusion that some have that property is on the way back up will be a temporary one.

beeno67

techdiver wrote: »

The fact that you overpaid for the property is not proof in itself that the house was under-priced.

I could win the lotto in the morning and decide, for the laugh mind you, to pay 4 million for a 3 bed semi in Lucan. Does that then mean that all semi's in Lucan are worth 4 million?
.

How have you decided he overpaid for it? You say this ia a fact?

Gosub

techdiver wrote: »

The fact that you overpaid for the property is not proof in itself that the house was under-priced.

I could win the lotto in the morning and decide, for the laugh mind you, to pay 4 million for a 3 bed semi in Lucan. Does that then mean that all semi's in Lucan are worth 4 million?

I'm not having a go at anyone specific, in fact I commend your attitude towards your purchase and that is the attitude everyone should adopt (a house is a home not a step on this mythical ladder to be flipped in a few years to trade up). I'm just stating that I find it amazing that after everything that is happened in this country people are once again starting to out bid each other for houses.

If you can afford it and service the mortgage (or are a cash buyer), then go ahead. I believe that all economic indicators point towards more trouble on the horizon across the world economy and that delusion that some have that property is on the way back up will be a temporary one.

I couldn't agree more about the indicators. I think the market will fall further.

The kind of house that I bought, in the place that I bought, is very unlikely to come up again any time soon, so for me it was sh¡t or get off the pot. I'm a mature cash buyer and have more than double what I paid to renovate the house (it needs a full gut).

If a person decides to pay 4 million for any house, then that's what it's worth. The market consists of buyers and sellers. If a buyer (the market) decides to pay 4 million,then that's the market value. Beauty is in the eye of the beholder... or purchaser.

techdiver

beeno67 wrote: »

How have you decided he overpaid for it? You say this ia a fact?

I apologise, I should have put the overused acronym IMHO before my statement.

Never the less, he states that it was underpriced, which I attempt to provide an example to outline why I believe that this assertion is not true!

TheDriver

also rare locations might get this type of market however most places are still on the drop. Just check out daftdrop, prices falling all the time