Queue for New Development

tml

hi,

looks like in going to have to queue overnight to get a house in a new development im interested in, has anyone done this and if so whats the procedure for it when the launch is in a hotel..........do you queue in the hotel, in the car park.......can you have someone else hold your spot in the queue for an hour or so if you want to take a break for an hour to eat / wash etc!....could be there for a couple of days!

Jesus I cant believe I have to do this just to buy a bloody house..........sorry if the questions are a bit stupid!

Lex Luthor

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Lex Luthor

best is to ring the estate agent and ask them the protocol....I would say once you're in line though to get a stand by in case you have to leave.

What is the development...who are the builders?

I passed through Carbury 2 weekends ago at about 10am and there was a new development launching that afternoon and the line was down the road.

It sold out that day.....

godtabh

I recently did it for the place I just bought.

My Mam was driving by it one night and saw the launch date was the next day. Went home got my car and was first in line. She rang me and I went straight from work and slept over night.

If your gona stay in your car bring food and water and blankets! It gets cold in your car! Also be prepared to be awake most of the night and till after the launch.

One or two ugly incidents.

Before I got there my Mam was threatened by some guy who said he was gona skip the queue in the morning. Sure enough he tried (thinking my Mam was in the car) but when he saw me he didn’t hang around after a few harsh words.

A girl behind me started a list of who was there and gave it to the estate agent who used that as the list. When new people came the went down on the list. (26 houses and over 50 people on it when I left on the day). I would defo recommend this. There were fights in Adamstown and Celbridge over people skipping the line. The guards had to be called and everything)

Another is to bring something to entertain yourself. I had psp and radio. Others didn’t and were bored silly waiting.

KC81

Oh my god. thats madness. what development is this? i mean does this happen at every new development now or is it just for the extra plush ones?

godtabh

KC81 wrote:

Oh my god. thats madness. what development is this? i mean does this happen at every new development now or is it just for the extra plush ones?

The one I went to was for one in Lexlip.

It happened in Adamstown when the cops where called but I dont know which one it was in Celbridge.

Again I'm not sure about the Celbridge one (the estate agent told me about it) but the developments in Adamstown and Lexlip were rather nice.

samo

I read elsewhere that the auctioneer for Adamstown ended up with quite alot of cancellations following the initial rush as Adamstown was rather expensive - especially for the 4 beds with study etc.


Interested to read this as considering a move at the moment and had a new development in mind, I thought the days of queueing for new developments had passed, looks like I'm wrong and will have to get sleeping bag sorted if we go for it!!!:eek:

godtabh

samo wrote:

I read elsewhere that the auctioneer for Adamstown ended up with quite alot of cancellations following the initial rush as Adamstown was rather expensive - especially for the 4 beds with study etc.

People fought tooth and nail for this development but I reckon when they thought about it some more the realised that its just gona turn in to a getto and with the money you are paying you could do a lot better

iregk

Jesus listening to all this only reaffirms how luck I got!!!

I've heard of people staying over night to q for developments but never heard of any fighting or anything. Thats just madness...

What I did also hear was a friend of mine apparently was viewing a house with intention to buy and an investor was behind him in the q. The investor bought the last remaining 12 at 260k a pop, went outside and said right I've got 12 houses for sale at 320k or something in that region. Thats just wrong.

godtabh

iregk wrote:

Jesus listening to all this only reaffirms how luck I got!!!

I've heard of people staying over night to q for developments but never heard of any fighting or anything. Thats just madness...

What I did also hear was a friend of mine apparently was viewing a house with intention to buy and an investor was behind him in the q. The investor bought the last remaining 12 at 260k a pop, went outside and said right I've got 12 houses for sale at 320k or something in that region. Thats just wrong.

I was under the impression that most new developments have clauses in the contracts that the buyer cant buy a property and sell it on like that. But if it is true then it is just wrong.

I didnt mind waiting over night for what I wanted. But for the people who waited over night and didnt get what they wanted that would have been bad!

But with house prices going up and up people will do anything to get on the property market and hence the reason I think the fights broke out

iregk

its completely wrong kearnsr and totally immoral!!!

There is no clause, basically the only thing is if you sell a new house within 5 years you have to pay stamp.

Lex Luthor

an investor will pay the stamp duty anyway, but until he closes finally on the sale he can't sell it on.

Victor

iregk wrote:

its completely wrong kearnsr and totally immoral!!! There is no clause, basically the only thing is if you sell a new house within 5 years you have to pay stamp.

Quite often developers will insert a clause preventing speculators from selling on before completion. They would, in effect be competing with the developer.

iguana

It's quite common for staff working on a development to put a holding deposit on a house but to sell the house on at a higher price before completion. The person who buys from them is the first to complete so the house is still considered new and they are exempt from stamp-duty.

The person who initially put the deposit down never actually owned the house so they do not pay stamp-duty, but afaik they pay cgt on the profit. This is very common practise in Ireland, and there are also investment firms who will help people do the same thing. A woman I used to work with was advised to do this by her accountant - she declined.

The reason developers allow this is because it inflates the prices of the second phase of the development. This is why there can be such enormous leaps in price between phases. It also makes it easier for them to ensure loyalty from their contractors.

Victor

iguana wrote:

It's quite common for staff working on a development to put a holding deposit on a house but to sell the house on at a higher price before completion. The person who buys from them is the first to complete so the house is still considered new and they are exempt from stamp-duty.

They are "selling the contract", a slightly dubious transaction.

iguana

Victor wrote:

They are "selling the contract", a slightly dubious transaction.

Imo it's more than just slightly dubious, but they get away with it. And make a tidy profit. The developers could prevent it, but the situation suits them so they don't.

There was a situation in the UK last year where hopeful purchasers queued, some for over 2 days. And when the office opened it turned out that the properties had been sold like this to the development staff, contracters and previous clients. Around 3,200 people had been offered the properties ahead of those who hoped to live in them so the prices were wildly inflated.

Baldie

Does anyone know where somone can get a list of these up and comming developments? Myself and my girlfriend were talking about buying a new house (first time buyers), and it would be handy to know in advance when these new developments would be going up.

CiaranC

Baldie, check New Developments on myhome.ie

I bought off the plans also, went down the night before the launch because I was bored, and was shocked to see about 40 cars queueing. Queued up for about 2 hours, got into the showhouse about 11pm and put down a booking desposit. They sold all the units the night before the supposed launch!

There were 4 or 5 security guys there in hi-vis jackets, but no trouble.

misty floyd

I queued over night aswell in celbridge. It turned out to be a good night. We met most of our neighbours (who turned out to be sound) and some of us got cans and had a good laugh. There was a guy in the queue that gave out numbers and took names from all of the people who joined the queue. The woman from coonans said she would take the names and work off that and said to us to go home but everyone stayed (except one person) incase there would be problems come opening time. The one guy that left the queue came back the next day and the people behind him weren't happy. They wouldn't let him rejoin but I'd say he got what he wanted because the woman from coonans did work off the list we made. Anyway, we got what we wanted and it was well worth the waiting. Good luck.

godtabh

misty floyd wrote:

I queued over night aswell in celbridge. It turned out to be a good night. We met most of our neighbours (who turned out to be sound) and some of us got cans and had a good laugh. There was a guy in the queue that gave out numbers and took names from all of the people who joined the queue. The woman from coonans said she would take the names and work off that and said to us to go home but everyone stayed (except one person) incase there would be problems come opening time. The one guy that left the queue came back the next day and the people behind him weren't happy. They wouldn't let him rejoin but I'd say he got what he wanted because the woman from coonans did work off the list we made. Anyway, we got what we wanted and it was well worth the waiting. Good luck.

One good thing about queuing up is that you do get to meet your neighbours. I know most of mine (I'm sure by the time I move in I'll have forgoten who they are) and they all seem grand. One or to odd ones but you expect that.

I delt with a lady in Coonans as well. She was the one telling me stories about launches in Celbridge.

iregk

I live in Blessington, there is a new development going on sale on Saturday. Yesterday there was war as there are already cars queing up and they are blocking existing residential roads!!!

Thats just crazy. To have to q a week before a house launch is madness.

FillSpectre

iguana wrote:

3,200 people had been offered the properties ahead of those who hoped to live in them so the prices were wildly inflated.

I hate comments like this. How is it inflated? People agreed to buy them at a price simple supply and demand. It is like all the comments "over priced Dublin". I get it is a view but it gets stated like fact.

I think the quickest and biggest impact the government can do is insist that sale prices are made public. That way people could estimate prices accurately themselves instead of the trust given to estate agents. Less people will be willing to pay over the market value if they can actually tell what the market value is or at least so they can estimate it.

iguana

It is inflated when the house contracts are bought up by investors who have no intention of ever completing the sale. The houses were advertised at a certain price but when the doors opened on the day of the launch the hopeful buyers were told that all houses had already sold. The people who had bought the contracts then offered to sell them on at a higher than advertised price.

iregk

I think we should bring back the German percentage rule specifically for the housing market. For those that dont know what this was in germany, I think up until the fall of the east/west there used to be a rule that governed the sale price of products and property. It wasn't so much an out and out price cap but it did keep things under a certain element of control. Basically the cost something takes to build determins the sale price, not market demand. The sale price would be a 150% increase of the cost price, so if a house cost 40k to build then it would retail at 100k.

This leaves plenty of scope for profit and additional costs and would maintain an element of control that is lacking at the moment.

Lord Nikon

CiaranC wrote:

Baldie, check New Developments on myhome.ie

I bought off the plans also, went down the night before the launch because I was bored, and was shocked to see about 40 cars queueing. Queued up for about 2 hours, got into the showhouse about 11pm and put down a booking desposit. They sold all the units the night before the supposed launch!

There were 4 or 5 security guys there in hi-vis jackets, but no trouble.

Was this for the launch in Blessington Manor??

Lex Luthor

iregk wrote:

Basically the cost something takes to build determins the sale price, not market demand. The sale price would be a 150% increase of the cost price, so if a house cost 40k to build then it would retail at 100k.

don't you mean 60k? or am I thinking you mean 150% increase of the cost on top of the cost? I'm confusing myself now....shut up Lex

Kinetic^

Victor wrote:

They are "selling the contract", a slightly dubious transaction.

That's how I bought my place last year, the guy made 19k for just putting a deposit down on it.