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House buying strategies?

  • 23-03-2018 9:46pm
    #1
    murt101
    Registered Users, Registered Users 2 Posts: 139 ✭✭


    Looking to tradeup and we've just started the paperwork. Having a browse on the internet I saw a potential house that had caught my eye last year. . I've heard locally that it sold last year but sale fell through for some reason, possibly planning on an extension/shed. It's back on market since Christmas (or possibly before) with the asking €5k more than last year's price.

    Anyone have any strategies on how we should best approach this? It pretty much ticks all the boxes for us, but it's at our upper limit and we couldn't afford to go any higher, the current asking would stretch us completely... how should we approach this? I've rang that particular EA to get our own valued but no reply from them so not impressed with them so far. Ant suggestions?


Comments

  • #2
    uck51js9zml2yt
    Closed Accounts Posts: 18,268 ✭✭✭✭uck51js9zml2yt


    I would choose a different EA to them for a start. It's a conflict of interest for the EA. He would know what you can afford .


  • #3
    kippy
    Registered Users, Registered Users 2 Posts: 18,984 ✭✭✭✭kippy


    Dangelo Bald Beneath wrote: »
    I would choose a different EA to them for a start. It's a conflict of interest for the EA. He would know what you can afford .

    Not necessarily.


  • #4
    Cash_Q
    Registered Users, Registered Users 2 Posts: 1,920 ✭✭✭Cash_Q


    Not experienced with trading up, but we are due to close on a house this week as first time buyers for 2k under asking.

    Our first bid was 3k under and at that time we were told the only other bid was 5k under. Having made our bid and disclosed proof of funds I phoned the next day to say that we are keen, ready to go, but with no room to increase our bid we want to know where we stand. EA argued that he valued the house up to 20k more than the asking but I argued that our bid was 99% of the asking, and were viewing other properties, so why are the vendors willing to risk losing us for 1%. I agreed to come up by 500 to show we were serious. Next day EA phoned asking for another 500 which we agreed and went sale agreed.

    I was pretty forceful in the days after the viewing and it worked.


  • #5
    murt101
    Registered Users, Registered Users 2 Posts: 139 ✭✭murt101


    kippy wrote: »
    Not necessarily.

    Why so? Would like to hear more.
    Still waiting for that EA to get back to us to value our own...not a good sign so far.


  • #6
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    Dangelo Bald Beneath wrote: »
    I would choose a different EA to them for a start. It's a conflict of interest for the EA. He would know what you can afford .

    It is often a good way to become the buyer by getting the same EA. The EA is much more likely to recommend your bid and hold the deal together.


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  • #7
    murt101
    Registered Users, Registered Users 2 Posts: 139 ✭✭murt101


    4ensic15 wrote: »
    It is often a good way to become the buyer by getting the same EA. The EA is much more likely to recommend your bid and hold the deal together.

    Thanks for the idea, will give it serious thought.


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