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Deposit size

  • 03-12-2015 2:34pm
    #1
    Registered Users, Registered Users 2 Posts: 138 ✭✭


    Hi

    I'm a first time buyer and I was wondering if the size of a deposit would have any influence on your success in bidding on a house?

    I inherited a sizeable amount of money (about 40% of the total) and was wondering if this makes any difference to the vendor when bidding on a house

    Many thanks


Comments

  • Moderators, Society & Culture Moderators Posts: 40,366 Mod ✭✭✭✭Gumbo


    Hi

    I'm a first time buyer and I was wondering if the size of a deposit would have any influence on your success in bidding on a house?

    I inherited a sizeable amount of money (about 40% of the total) and was wondering if this makes any difference to the vendor when bidding on a house

    Many thanks

    Once all parties are mortgage approved it would make no difference to me if one person had more of a deposit than the other once they were genuinely interested.


  • Moderators, Sports Moderators Posts: 8,679 Mod ✭✭✭✭Rew


    Hi

    I'm a first time buyer and I was wondering if the size of a deposit would have any influence on your success in bidding on a house?

    I inherited a sizeable amount of money (about 40% of the total) and was wondering if this makes any difference to the vendor when bidding on a house

    Many thanks

    You may be more appealing in that your financially viable to buy the place but if the other bidder is too it just comes down to who is willing to pay more


  • Registered Users, Registered Users 2 Posts: 138 ✭✭recipesforme


    Thanks for your replies!


  • Registered Users, Registered Users 2 Posts: 3,528 ✭✭✭gaius c


    It puts you in a slightly stronger position. Just casually say you're "well in excess of 20% deposit" but don't be too specific because the EA will probably take it as an invitation to bid you up so you're left with 20% deposit.


  • Registered Users, Registered Users 2 Posts: 138 ✭✭recipesforme


    That's a good idea! Thanks


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  • Registered Users, Registered Users 2 Posts: 3,528 ✭✭✭gaius c


    All cash would put you in a way way stronger position though.


  • Registered Users, Registered Users 2 Posts: 138 ✭✭recipesforme


    Unfortunately it wouldn't be nearly enough to buy a place in Dublin on a 100% cash basis


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