@gabbyrose4 I have experienced cases of 50k to 70k above asking prices on houses with asking prices of 300k to 350. I only went 30k above asking on the house I have now in sale agreed.
Go with X * 0.8 and try to find several that you're bidding on.
@gabbyrose4 We're in the process of buying and selling at the moment. Our house went sale agreed for 5k under asking and the house we're buying went sale agreed for 4k under asking. That's Cork City though.
@gabbyrose4 I think it depends on the price point. The 200-450k market is the most competitive one as that's ultimately the point most first time buyers are in. I'd imagine this the range where you're most likely to see something go for over asking. From my experience, I'd say always allow 40-50k.
@gabbyrose4 Got my own place 3% below asking recently. My own apartment was sold 10% above (but underpriced, I wouldn’t have accepted even 3-4% above asking).
There was one house in Dublin 4 with 875k asking which was at 890k best when I viewed. Agent was pushing “this is the last viewing, they are happy to close there”. It’s now in land registry at 1050k….
