The Cabinet will discuss today the possibility of acquiring Lissadell House, Co Sligo, for the State.
The childhood home of the patriot Countess Markievicz and an adjoining 400 acres of land have been on the market since May, priced at about €3.5 million.
Jackson Stops, the estate agent selling the house on behalf of the Gore-Booth family, said yesterday that it had firm offers for the property from three private parties based inside and outside the State.
While sources close to the Minister for the Environment, Mr Cullen, said that he recognised the historical significance of the property, they said that a decision on the matter would be for the Cabinet to make.
However, the sources said it was "too early to say" when asked about the perception in Government circles that Mr Cullen would seek Cabinet approval for the purchase of the house.
The Government has been urged to purchase the house by local and national heritage groups and by Sligo County Council.
They have emphasised the historical role of Countess Markievicz and her family's links with the poet W.B. Yeats, who was a frequent visitor to Lissadell. They have also noted that the house is a major example of early 19th century architecture.
In advance of the discussion today, there were indications that Government officials have concluded their examination of the property and its title, which dates to the 1830s.
While the examinations found the structure of the house was essentially sound, an investment of about €5 million over the purchase price was deemed necessary to improve the property and make it amenable to the public as a museum.
In addition, annual upkeep costs were estimated at €500,000. The State would have to meet some of that expense because the projected income from visitors is not expected to meet that cost.
This has led to concern in official circles that the Government should avoid a situation where the purchase of Lissadell would expose the State to a "black hole" of undetermined expenditure.
Ministers are also conscious that the tightening of the public finances leaves little room for manoeuvre.
However, Mr Cullen is known to have sought a detailed plan from officials and a commitment that the Office of Public Works and Sligo County Council would have a role in the running of the property.
While the Gore-Booth family have given the State the first option to buy the property, the Jackson Stops chairman, Mr Marcus Magnier, said it had not received any statement from the Government about its intentions. "I gather that a statement should be imminent," he said. "It it now time for a decision."