I definitely had mixed feelings as I watched the following news item about a homebuying couple in Newbridge. This transaction is touted as the fastest home purchase in Ireland, which it would definitely be if it closed on full legal title inspection as opposed to early possession on foot of a Caretakers Agreement (not clarified).
Click to watch the TV3 news report.
It’s a good news story at a time when the property market needs a bit of positivity. My reservations came when I heard the new owner attribute the successful negotiations to “knowing what money we had to pay around with”. The strong financial position of the buyer should never play a part in calculating the value of a property. At Buyers Broker we take a strategic, hard-line approach to negotiations and I flinched when I heard that negotiations took place over 20 minutes, immediately after the new buyers had sold their own home. We can only hope that both transactions did not take place through the same estate agency!
The news story did make me think about a comment I heard last week, that “we have lost our ability to negotiate”. I hope that is not true, I for one still see a bit of horse-trading! It may be a confidence issue or perhaps a lack of knowledge or awareness, I know that this is a big problem for property buyers in Ireland. However, legislation providing for the establishment of a National House Price Register is due to be passed in December and this should given buyers a much needed boost. Contact us directly for updates on this firstname.lastname@example.org
Buyers Broker Ltd