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29-06-2020, 13:41   #16
StupidLikeAFox
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We'd like to try and offer a fair bit below the asking price on a few of them but we are wary of upsetting people in the area,
I don't understand this bit - why would making a lowball offer upset anybody? The seller will either accept it or reject it. Nobody else in the town will know or care
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29-06-2020, 13:55   #17
jlm29
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My mother sold her house a few years ago she knew exactly what two people were bidding on it. The estate agent told her exactly who they were. She sold to the one with the slightly slower offer as she didn’t like the other person and didn’t want to be their neighbour (she was building another house very close by). So I doubt there’s any guarantees that they won’t be passing on that information, especially in a small town
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29-06-2020, 14:19   #18
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We'd like to try and offer a fair bit below the asking price on a few of them but we are wary of upsetting people in the area, which would not be a good idea in a small town you plan to live in for many years.
Vendors should not be getting upset at low offers.

They simply reject them, and await the next higher offer.
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29-06-2020, 14:29   #19
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Vendors should not be getting upset at low offers.

They simply reject them, and await the next higher offer.
They shouldn't, but they do.

A lot of people buying/selling property, especially if it is PPR, do so emotively. Great offence is taken that you don't see the value in their decorative upgrades and beautiful rose bushes.
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29-06-2020, 15:06   #20
Geuze
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They shouldn't, but they do.

A lot of people buying/selling property, especially if it is PPR, do so emotively. Great offence is taken that you don't see the value in their decorative upgrades and beautiful rose bushes.
Ok.

But a buyer will never know this.

I buyer will simply hear back from the agent: "sorry, your offer is not accepted, it's too low"
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29-06-2020, 15:20   #21
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Theres no need for all the subterfuge. If you make an offer that's too low the agent will simply tell you the seller won't sell for that price and ask if your willing to go higher. If it's a case you aren't prepared to go as high as the seller wants the agent will likely direct you towards other properties that are in your price bracket. If the property's been on the market years the seller will be very familiar with rejecting offers they consider too low. I can't imagine why people in the locality would give two hoots what prospective buyers are offering.

Editing to add: Also, the agent will tell you what the highest offer so far on the property is, and whether the seller is entertaining it or not.

Last edited by Idle Passerby; 29-06-2020 at 15:27.
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29-06-2020, 15:25   #22
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If anything the smoke and mirrors is likely to attract more attention.
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29-06-2020, 15:29   #23
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One thing is for sure. In rural Ireland when you put in an offer on a property that hasn't been moving within 48 hours the shysters of an estate agent will be back to say they have just got an offer in for the asking price well above yours.
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29-06-2020, 15:35   #24
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A heads up though - the estate agents I'm talking to at the moment (over the last 3 weeks) have all asked for AIP before even showing a property as the COVID19 logistics are onerous. On top of that when I was last buying a house (5 years ago) none of my bids were entertained without providing the AIP. This is all in Dublin city center so your mileage may vary.
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30-06-2020, 12:38   #25
martin18
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Thanks everyone. Maybe there is no need for the subterfuge, but my concern would be what KaneToad says - someone thinks their house is simply beautiful whereas I'd have to completely overhaul it to be able to live there long term, so of course it's worth less to me than they might like. And my partner, whose family is from the area, thinks people might well get offended and pass round the word. But yes, it's possible we're overdoing the concern.

We are cash buyers up to a certain level so at least that will give us a little bit of an edge.

IdlePasserby, you say that "the agent will tell you what the highest offer so far on the property is, and whether the seller is entertaining it or not", but from everything I've read about EAs in Ireland, such information is not to be trusted, as underlined by Edgeware. I don't know if that's fair, though? One cheap property I'm interested in, the price has escalated by $25k in 2 weeks, but I'm having trouble gauging whether the bidding war is real (EA kind of fluffed whether they'd had an offer at the current price as listed online)...
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30-06-2020, 12:44   #26
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Originally Posted by martin18 View Post
Thanks everyone. Maybe there is no need for the subterfuge, but my concern would be what KaneToad says - someone thinks their house is simply beautiful whereas I'd have to completely overhaul it to be able to live there long term, so of course it's worth less to me than they might like. And my partner, whose family is from the area, thinks people might well get offended and pass round the word. But yes, it's possible we're overdoing the concern.

We are cash buyers up to a certain level so at least that will give us a little bit of an edge.

IdlePasserby, you say that "the agent will tell you what the highest offer so far on the property is, and whether the seller is entertaining it or not", but from everything I've read about EAs in Ireland, such information is not to be trusted, as underlined by Edgeware. I don't know if that's fair, though? One cheap property I'm interested in, the price has escalated by $25k in 2 weeks, but I'm having trouble gauging whether the bidding war is real (EA kind of fluffed whether they'd had an offer at the current price as listed online)...
It is almost certainly real.

Everyone always thinks there's something underhand when they get outbid, and in the overwhelming majority of cases they've just been outbid fair and square. It's just human nature.

Your partner is talking nonsense too, by the way.
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30-06-2020, 13:48   #27
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Originally Posted by Edgware View Post
One thing is for sure. In rural Ireland when you put in an offer on a property that hasn't been moving within 48 hours the shysters of an estate agent will be back to say they have just got an offer in for the asking price well above yours.
It may also flush out others who are interested, once a bid is placed, they have to bid themselves or lose out. Lots of people, particularly in rural areas keep an eye on a property to see if the asking price drops, I have done it myself, but once a bid is made, it’s game on, more bids often follow.
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30-06-2020, 13:59   #28
wassie
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Whilst I also subscribe to the view that EAs are more interested in the sale than gaining a few extra euros, remember if the EA lives locally then their reputation often is also important to them, after all they are likely to see former clients down the shops on a Saturday morning.
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30-06-2020, 14:02   #29
Del2005
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Originally Posted by martin18 View Post
Thanks everyone. Maybe there is no need for the subterfuge, but my concern would be what KaneToad says - someone thinks their house is simply beautiful whereas I'd have to completely overhaul it to be able to live there long term, so of course it's worth less to me than they might like. And my partner, whose family is from the area, thinks people might well get offended and pass round the word. But yes, it's possible we're overdoing the concern.

We are cash buyers up to a certain level so at least that will give us a little bit of an edge.

IdlePasserby, you say that "the agent will tell you what the highest offer so far on the property is, and whether the seller is entertaining it or not", but from everything I've read about EAs in Ireland, such information is not to be trusted, as underlined by Edgeware. I don't know if that's fair, though? One cheap property I'm interested in, the price has escalated by $25k in 2 weeks, but I'm having trouble gauging whether the bidding war is real (EA kind of fluffed whether they'd had an offer at the current price as listed online)...
Agents don't make up phantom bidders. An extra €25k on a property is only a few hundred for them and its not worth their while loosing their licence for that. There's nothing stopping the seller getting a friend to make an offer though, which hopefully will stop with estate agents looking for the AIP letter.
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30-06-2020, 15:32   #30
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If your worried about bogus bids driving the price up, call their bluff. Say no thanks, too high for me and if it's still on sale in a month go back with your initial offer. Your wife is paranoid. Why would the neighbours care what Joe blogs sells his house for? Properties are only worth what someone is willing to pay.
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