Once you’ve had a viewing trip or two and you’ve narrowed down your property list, it’s time to start making offers. It can be tempting to jump right in, but doing a little bit of preparation will help to make the whole process of making an offer on a house in Ireland that much smoother and more problem-free.
1. Understand the Irish property market
One of the big concerns for anyone putting in an offer is ‘am I going too high/low?’ This is relatively easy to solve – have a look around at both asking and sold prices for the local market to get an idea of what similar properties sell for. Do also ask your agent, but remember that they do ultimately work for the seller. Do some independent research too – our news sections are a good place to start. Have a look also at what makes up the cost of an Irish property.
2. Charm the seller
Build up a relationship with the seller – you’re buying something they love and have put a lot of time and energy (and money!) into, after all. Try not to be too aggressive in your pricing, as this can put them off. Likewise, don’t be bullish in your attitude: it is a business negotiation, but it’s also something quite personal.
We can introduce you to trusted solicitors who can give you legal advice on your purchase. Simply fill in our enquiry form to let us know your requirements.
3. Think like a poker player
It’s time to get your poker face on! Read the vendor’s emotions and adapt accordingly. With some, you might want to show how keen you are, but, with others, that could make them think they can take advantage, so you’ll want to play it cool. Do let the selling team know that you know your stuff and have viewed a number of properties already.
4. Take control of the negotiations
You’re the one making the offer – and the seller needs to make a sale, whereas you have any number of choices of a house. This puts you at a distinct advantage when making an offer on a house in Ireland. Many people think of the seller as having the upper hand, but this isn’t the case – so take advantage of it to lead the negotiation.
Many people think of the seller as having the upper hand, but this isn’t the case – so take advantage of it to lead the negotiation.
5. Organise your finances
Make sure your budget is fully sorted before making an offer on a house in Ireland, including how you’re going to transfer your money over to Ireland. Leaving this to the last minute, and having to go back and sort it before you make an offer or counter-offer, could lead to it falling through. As such, we usually recommend that you speak to our partner, Smart Currency Exchange. They’re ranked #1 on Trustpilot for Money Transfer, for their work in helping people protect their money by securing a fixed exchange rate for a year.
Find out more about protecting your money from suddenly changing exchange rates in the Property Buyer’s Guide to Currency, written by our partner Smart Currency Exchange.
6. Make a fast counter offer
Be ready with your counter offer before it’s even needed. Decide how much you’re willing to budge by when deciding on your initial offer. That way, you don’t get overtaken by someone else’s offer when you go back to work out what you’re happy to shift to.
7. Don’t stress if it doesn’t come through
Sometimes even after making an offer on a house in Ireland with careful planning, it will fall through. The seller might change their mind, for instance, and take the house off the market. If this does happen, it is hard, but try not to let it stress you too much. It’s outside of your control – and many people in this situation find that they later end up with an even better property.