NAMA Property - Offer??

Ruby Doo

Hi All,
We have being looking at a house priced at €85,000, auctioneer has told us that it is a NAMA property.
The house is un-finished inside.
How much should we offer.?
House is idle for 4 year as was new build and never finished.
We have been approved for mortgage & are ready to go but want to get it at the right price.
Thanks.

The_Conductor

Really depends on location, property type, likely demand from other potential buyers, whether its in a 'ghost estate' etc etc etc.

Note- if the estate is classified as a 'ghost estate'- you will have severe issues getting a bank/lender to lend towards a mortgage on it.

Woodville56

Ruby Doo wrote: »

Hi All,
We have being looking at a house priced at €85,000, auctioneer has told us that it is a NAMA property.
The house is un-finished inside.
How much should we offer.?
House is idle for 4 year as was new build and never finished.
We have been approved for mortgage & are ready to go but want to get it at the right price.
Thanks.

Did the Estate Agent give any indication of what offer would secure the property ?
We looked at a NAMA property last year , same situation as yourselves, new house, 4 years built,unfinished etc but not in a ghost estate. EA said bank wouldn't accept anything less than asking price (also €85k) and told us that offers just short of the asking price had been rejected.
I suppose where you go from here depends on the value of the house to you, it's location , if it ticks your boxes etc . How does the price compare( allowing for finish off cost) with other similar size properties in the area ?
Good luck whatever decision you reach!

The_Conductor

Unfortunately- with these property sellers- the asking price is the selling price- and while the property may be on the market for years, before it gets its 'price'- it will get it eventually.

Are you willing to pay the asking?

Ruby Doo

The house is in a ghost estate, there is only 6 houses in estate built, 11 more to be built but will not be built until things pick up in the housing market. There are only 2 properties being lived in, other 4 are still not sold..
regarding inside of house, the only thing done is plastering, 2nd fixing,(no floors) and has bathroom units but not tiled etc, no kitchen, no boiler or oil tank or copper cylinder. also windows in front of house are broke, but auctioneer has told us that these would be fixed.
We would be doing a majority of the work ourselves, but just wondering has any one got any ideas of what price to offer?
Thanks

sawdoubters

how much damage was done,was there a roof and windows


some are only good to knock down

Ruby Doo

Literally only needs new windows in front of house.. No damage to roof.. Externally house is finished. Just young lads acting the maggot breaking windows for the laugh as per usual..

ordinarysoap

Hi, where can i find out all the NAMA properties, is there a list on a website?