The posting of a "Sale Agreed" sign outside a house usually signals that the deal is done, not fully signed off, but . . . well agreed. But not in the current market it seems.
Dublin agents are finding that "Sale Agreed" means, just maybe I'll buy it, but only if you drop the price a little bit more. Or then again, maybe not. According to one estate agent declaring "Sale Agreed" is just the beginning of the negotiating process and not the end.
Stephen Manek of Douglas Newman Good is like many agents around town having to deal with prolonged negotiations that only get going when a buyer pays a deposit.
After that, a whole range of advisors enter the picture, says Manek. "It might start with the parent saying, 'that's too much, I wouldn't pay that'. Then the surveyor will have a go and advise them to drop a bit more and finally, just as they are about to sign the contract, the solicitor might say, 'tell them you're just about to sign the contract, but you want €20,000 off'. It's heart-breaking." For the vendor that is.
For the buyer, it's a chance to hone negotiating skills and hold back some money for the soft furnishings.
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