viewing

Piriz

I viewed this house today http://www.myhome.ie/residential/brochure/2-galmoy-road-cabra-dublin-7/2893645

This is the first viewing and we were pretty much the first to view the property, we were informed the current bid is 264K.

It seems unusual that someone would put an offer of 25k above asking prior to first viewing...

any thoughts on this situation or the property itself would be interesting to read.. thanks

travist

Agreed, seems strange that someone would be able to do that.
Perhaps that's really the lowest price the seller want to accept for the property, and not a bid?
Doesn't make sense that someone bid without seeing it.

MarkAnthony

Houses is a good state of repair in the D7, D8 area attract crazy bids, especially with a more modern fit of an upstairs bathroom. As soon as something comes on stream in those areas any EA that isn't a rank amateur will have a call list.

You only need one buyer who's been out bid a few times to plonk down their top; take it or leave it offer in the hopes of a quick close especially if the clock is ticking down on finance.

That said I'd take what an EA says with a pinch of salt.

Piriz

what would recommend to do next? offer lower and see what happens?

audi12

Piriz wrote: »

what would recommend to do next? offer lower and see what happens?

All the sheep are out now buying competing with each other for the same few houses real experts alrite not

handlemaster

Piriz wrote: »

I viewed this house today http://www.myhome.ie/residential/brochure/2-galmoy-road-cabra-dublin-7/2893645

This is the first viewing and we were pretty much the first to view the property, we were informed the current bid is 264K.

It seems unusual that someone would put an offer of 25k above asking prior to first viewing...

any thoughts on this situation or the property itself would be interesting to read.. thanks

If you want it. You Will have to go higher simple

audi12

handlemaster wrote: »

If you want it. You Will have to go higher simple

what sort of advice is that to give awful my advice is back off only a complete mug would get sucked in to a bidding war

travist

I'm sure you have an idea of how high you want to go . If that current bid is higher, then just walk away and wait for another.. Are you in a hurry to buy? I'm sure something else will come up in the area you are looking in the next few months.

Piriz

thanks everyone, i like the house but will not be bidding against someone on it.. I think i'll offer lower and they can consider my bid if the higher offer falls through...

handlemaster

audi12 wrote: »

what sort of advice is that to give awful my advice is back off only a complete mug would get sucked in to a bidding war

if the op wants it the idea is to be the higher bidder. If not move on. Lots of estate agents put the properties in low so its not very surprising to get offers above asking price.

MarkAnthony

OP - It's a nice house but over priced. What's your aim? Something in Turn Key condition? If not you'll get much better value in D7. We initially were looking D8 only, got pushed out of there and ended up looking in D7, almost bought but when you consider the transport time into the CC we ended up getting a gorgeous house on the Dart line in D5.

MarkAnthony

audi12 wrote: »

what sort of advice is that to give awful my advice is back off only a complete mug would get sucked in to a bidding war

You've absolutely no choice if you want a house in D7/8 at that price range. I'd wager 80% end up going to best and finals. I don't think I looked at a single house in D7 or 8 in 2014 that didn't have at least three interested parties.

To be fair I've been out of the market now for about 6 months.

Piriz

MarkAnthony wrote: »

You've absolutely no choice if you want a house in D7/8 at that price range. I'd wager 80% end up going to best and finals. I don't think I looked at a single house in D7 or 8 in 2014 that didn't have at least three interested parties.

To be fair I've been out of the market now for about 6 months.

Hi MarkAnthony, thanks for your input. What do you mean by best and finals?

MarkAnthony

Piriz wrote: »

Hi MarkAnthony, thanks for your input. What do you mean by best and finals?

Dutch Auction.

You'll have bids and when it looks like people are calming down you'll be asked for your best and final offer, without knowing what others are offering. Again another reason why someone might have come in with a high bid, you end up making high bids anyway after being buggered about for a couple of months.

riclad

Someone may be willing to pay 25 k ,plus, on top of asking price,
for a corner house, with large garden,
plus corner house= one 1 neighbour on 1 side , = maybe a more quiet house .
large front entrance, makes it easy to park 2 cars there if you have visitors .

Maybe put in bid at asking price, see what the agent says.
it seems abit high for a 2bed house .

The_Conductor

audi12 wrote: »

All the sheep are out now buying competing with each other for the same few houses real experts alrite not

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CaoimheSquee

In general from working with another branch of the same company, the practice is to never take a bid without someone having seen the property, so maybe double check the circumstances.
If not lodge your offer at where you are happy to go at. It may be lower than the current but it wil be on the system and if the sale falls through the list of bidders would be the first to be contacted.

Good luck!

thebeerbaron

Hi,
You should make an offer at the asking price
it makes no sense for someone to have made an offer above the asking price unless they were told of a higher bid themselves.
Wouldnt be surprised if its the auctioneer trying 1 on.

travist

I would wonder what type of sale is it? Receiver sale or regular seller?

Piriz

i'm not sure, the agent was not there at the viewing rather a person who just opened the house and told us about the bid but she didn't have any other info..

CaoimheSquee

Piriz wrote: »

i'm not sure, the agent was not there at the viewing rather a person who just opened the house and told us about the bid but she didn't have any other info..

Ah ok. I would suggest calling the EA handling the sale and you will then get the full info behind this. The EA's usually try and rotate Saturdays so everyone isn't working 6 days every week unless absolutely necessary.
But it's not unheard of that at first viewing for the bids to go over asking price. Someone may really want it and put in a crazy high bid to try and stave off competition.

wilford

If you look at all the properties in the cabra area that particular ea is very optimistic with their prices,If you like the house offer asking and see what the ea says.