How to bid on a house in Ireland: offers, bidding platforms and when to stop

Bidding is the part of buying that feels most like a game, and it is the part where people spend money they did not plan to spend. This guide explains how offers work in Ireland, how online bidding runs, what the agent can and cannot do, and how to decide the most you will pay before you start.

Set your ceiling before you bid

Your ceiling is the most you can pay for this home. It is set by three numbers:

1. What the lender may lend. The Central Bank rules allow a first-time buyer up to 4 times gross income and 90% of the price. The how much can I borrow tool shows your limit.
2. Your deposit and the costs. Stamp duty, the solicitor, the survey and insurance come on top of the price. The cost of buying calculator adds them up.
3. The repayment you can live with. The mortgage calculator shows the monthly figure for any price and rate.

Write the ceiling down before the first bid. Every bid after that is a test of whether you keep to it.

A worked example

Two people earn €90,000 between them. The rules allow up to 4 times that, so €360,000. They have €45,000 saved. Their deposit must be at least 10%, so the most they can pay is €400,000 at the limit, with a €360,000 mortgage and €40,000 deposit. But they also need about €8,000 for stamp duty, the solicitor and the survey. So their real ceiling is about €397,000, and the lender's own tests might set it lower. If the bidding goes past that, they stop.

What the asking price means

The asking price is the agent's starting figure. It is not a valuation and it is not a floor. Homes sell above it in busy areas and below it in slow ones. In the twelve months to June 2026 the national median price was €396,000 (CSO). Look up what similar homes nearby actually sold for on the Property Price Register. The price register guide explains how to read it, including the VAT trap on new builds.

Who you are dealing with

The agent (an agent needs a PSRA licence; see the estate agent page) works for the seller, not for you. The agent's job is to get the seller the highest price. The agent must be licensed by the Property Services Regulatory Authority (PSRA), must record every offer, and must pass every offer to the seller. The agent cannot invent bids. You can check the licence on the PSRA register.

How to make an offer

Make every offer in writing, by email or on the agent's bidding platform. Include:

• The amount.
• That it is subject to contract and subject to survey. This means you are not bound until contracts are signed and your surveyor is happy.
• That you have mortgage approval in principle for enough (you do not have to say how much).
• Your position: first-time buyer, no chain, able to move when the seller is ready.
• The name of your solicitor (check the Law Society's register; see the conveyancing solicitor page).

A seller often picks a slightly lower bid from a buyer who can close faster. Say what makes you a safe buyer.

Proof of approval

Most agents ask for proof that a lender has approved you in principle before they take a bid. Send the lender's letter, or a screenshot of the approval, with the amount covered if you prefer. Agents ask because sellers do not want to go sale agreed and then find the buyer cannot borrow. The approval in principle guide explains how to get the letter.

Online bidding platforms

Many agents now run bids through an online platform. You register, upload your approval and ID, and bid from your phone. Every bid shows on screen with a time, and other bidders see the figure but not your name. Some things to know:

• The platform shows you the current highest bid. It does not show you who made it.
• Bids usually close at a set time. Some platforms extend the time by a few minutes after a late bid.
• A bid on a platform is still not binding. Contracts are what bind.
• You can set your ceiling in your head, and nothing on the screen changes it.

Best and final offers

When several people are bidding, the agent may call for best and final offers. Each buyer sends their highest offer, in writing, by a deadline. The seller picks one. You are not told what the others offered.

Decide what the home is worth to you, offer that, and accept the result. A best and final offer that goes over your ceiling is the single most common way people end up with a mortgage they cannot carry.

When your offer is accepted

The agent tells you the seller has accepted. You pay a booking deposit, usually €5,000 to €10,000, to the agent. The home is marked sale agreed and comes off the market. The booking deposit guide explains what happens to that money.

Nothing is binding yet. The seller can still take a higher bid; this is called gazumping and it is lawful until contracts are signed. The gazumping guide says what lowers the risk. You can also walk away for any reason and get the deposit back.

When to stop

Stop bidding when:

• The next bid goes above your written ceiling.
• The repayment at the new price is more than you can live with, with room for rates to change either way.
• The survey finds faults the seller will not price in.
• The home is in a flood zone, has planning problems, or has pyrite or mica, and nobody will say what fixing it costs.
• The bidding has gone far past what similar homes sold for on the register.

Walking away costs nothing before contracts. Another home comes on the market every week. A mortgage that is too big stays for 25 or 30 years.

Where this leaves you

Before each bid, put the price into the mortgage calculator and look at the monthly figure, then check it against the ceiling you wrote down. The first-time buyer journey lists what to have ready before you bid, and getting quotes from a solicitor and a surveyor now means you can name them the day you go sale agreed.