what people are offering below the asking price

hi want to see what people are offering below the asking price
i know of a friends 4bed-semi in clonee was on the market for over a year and a half price for sale €450K they had no viewings in that time.
reduced price €400k one viewing offered €315K and thay accepted.

wow that’s a big drop

Asking price 450K, sold for 315k.
Just goes to show that the EA who told them to price it at 450k starting off, was a complete retard. But I guess that goes without saying.

End of last year went sale agreed on a place that was listed 360,000 for 320,000 opening bid was 310,000 pulled out though and will be bidding on somewhere with an asking of 380,000 for 340,000 next week

I don’t think you can ever start too low. I mean whats te worst that happens…they are insulted and say no!
Ballpark i would say start at 15% below…or what you think it is worth. No-one should be going in over their heads at this stage.
and I know people say hold off buying but sometimes circumstances dictate that you have to/want to.

It seems obvious, and yet I’ve still heard people suggest that it’s somehow offensive/immoral to make lowball offers, or make offers on multiple properties.

It’s taken many people a long to time to accept the transition from seller’s market to buyer’s market, so a specific seller’s reaction to an offer 10%+ below asking will naturally vary significantly. Some may be delighted to finally offload a property, others will still regard such an offer as time wasting. If the latter is the case, perhaps it’s best to wait and/or look at an alternative property. As others have said, it’s worth at least making an offer.

Made two bids in recent times on different properties. Last one was 4% below asking price. Got a hillarious email from agent suggesting I make a “serious offer” to scare away the competition. Lovely!!

4% below asking was not a serious offer? Right. Seems like some agents are less capable of dealing with the transition than others.

In this market if I were the seller I would be furious with the EA for this.
Very unprofessional of him/her (althow to be expected from them)
All offers should be presented to the seller and either accepted, rejected or countered.

Why did you only go 4% below???

No It’s not.

How you behave when an offer is accepted might be questionable. I.e. going into it fully expecting to pull your offer at the last second is not good in my opinion.

Offer what you’re willing to pay. If you’re making offers on other properties tell them all that you’re making multiple offers, and you’ll be taking the one that suits you best.

-Rd

i also know of another couple who have a 4bed bungalow 2000sq/ft midlands originally on the market at €650k advised by the estate agent, had viewings but no takers. on the market 2.5 years
-reduced to €550K 1.5 years ago. still had some viewings had an offer of €400k 8 months ago wife refused but husband wanted to take offer.
-today 2.5 years on the price is €500k

Perhaps that’s what the EA meant. He wasn’t expecting anything higher than 10% under and figured 4% wasn’t serious. :wink:

If it’s a bad EA he/she could have been thinking they’d get higher comission at a higher sale price. Would of course make more sense to get a % of something.

I would want any offers on a property i was selling sitting on the desk in front of me so i could decide if they were “serious” or not for me as the seller not some guy sending out snotty emails without telling me

650K for 2000sq ft in the midlands. Did they have gold taps and platinum toilet seats??

I’ve posted this before - but I know of one foxy EA who would not pass on offers to a seller unless she was given sale of the buyer’s property. Always kept her pipeline full that way I suppose. But then she’s a MIPAV so maybe their ethical standards are not so strict? db.

Occasionally you can see the real prices houses must have sold at when the sale falls through and they appear back on Daft, you need to have the Property Bee add on for Daft to see the history. Two examples in my town (don’t have the links to hand). Sale Agreed at 355k, back on the market couple of weeks later at 325k. Another house on the market Excess 475k Sale Agreed in February, back on the market today Excess 440k.

Funny that! My boss was approached by a developer in Cork looking to shift the last remaining units in developments he had around the city. He’s offering up to €40k discounts below what the current EA is selling them. The market definitely has changed and there are some bargains to be had if you know where to look. Obviously my boss jumped at the deal!

40k on a property worth how much?

40k on a property worth how much?