bidding for a house

Mortgages In Ireland

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This is really difficult, how much do I bid? am I bidding too much?

First of all, only bid as much as you can comfortably afford. Look around at houses that have sold in the locality, can you find out what price they achieved? Do not be fooled by guide prices, these have proven in the last few years not to be reliable.

It costs a lot of money to be in position to bid at an auction, be careful before you get into it.

Ask yourself a few questions :

  • Have properties in this area sold at this guide price?
  • Does the Structural Survey show any major defects?
  • How much can I afford to bid?

    Then the personal things take over...

  • How bad do I want to buy this property?
  • Will it be a good home for me or a good investment?

    Do not go to an auction if emotion comes into it ask your solicitor or a friend who has experience at an auction to bid on your behalf.

    Always stand at the back of an auction room to see who is bidding against you, unless you decide to be bullish and lead from the front.