Advice

loriexxx

Looking for some advice we found a house we love the AMV is 250000, one offer in so far at 225000 and our max budget is 260000.

What would you go in as a 1st offer, There was an open viewing today so expecting more offers will be put in next week.

Samuel T. Cogley

AMV is it being auctioned?

If it was Dublin then it's going to go over asking so I'd personally go all in and hope it's accepted without delay or that it scares off the other bidders/potential bidders.

Outside of Dublin no idea about the market I'm afraid so.

loriexxx

Samuel T. Cogley wrote: »

AMV is it being auctioned?

If it was Dublin then it's going to go over asking so I'd personally go all in and hope it's accepted without delay or that it scares off the other bidders/potential bidders.

Outside of Dublin no idea about the market I'm afraid so.

Thanks for the advice, no it’s not going to auction and not in Dublin.

4ensic15

There is no AMV then.

davo10

4ensic15 wrote: »

There is no AMV then.

Auctioneer is probably making bidders aware that vendor won't consider any offer below €250k. Very common, many vendors tell EAs not to bother informing them of bids below that mark.

4ensic15

davo10 wrote: »

Auctioneer is probably making bidders aware that vendor won't consider any offer below €250k. Very common, many vendors tell EAs not to bother informing them of bids below that mark.

AMV is when there is going to be an auction, otherwise it is an asking price.

tigger123

loriexxx wrote: »

Looking for some advice we found a house we love the AMV is 250000, one offer in so far at 225000 and our max budget is 260000.

What would you go in as a 1st offer, There was an open viewing today so expecting more offers will be put in next week.

I have very limited experience with this, but I'd offer 251k. It sounds like there will be a few of you placing competing bids against each other and you want to set a slow pace in terms of the bidding jumps.

Also, stay in as long as you can. Let's say you end up bidding 260k, and you are outbid by one other person at 262k - if that person drops put (for whatever reason) you'll be next in line.

Good luck!

Fol20

Don’t offer 251 from the get go. Since it’s outside Dublin or even major cities. There might be a chance he will accept less than 250. If you go straight to that you may have added an uncessary bills which could easily pay all the transactions bills for purchasing the place and have a decent chunk of change left over. Personally I would up it to 230 and see how it goes from there.

tigger123

I misread the OP. Sorry, didn't realise the offer is 225k. In that case, like the previous poster was saying, offer 226k and take it from there.