MORTGAGE QUESTION ?

Lebunim

Hi all,

Myself and Wife are looking to buy a House, few notes here:

House value - 125'000,
House status - Under receivership of Deloitte and NAMA scheme, represented by local Estate Agent
House Location - many houses available at this price in the same estate.

My questions are:

Do you think the price of the house is negotiable?
Would house be fully fitted - according to the description on the EA's website, recently updated.
Is it possible to get 10'000e more then actual property value? i.e House price after negotiations dropped to 100'000e, EA on my requests values house for 110'000e, 100'000e paid to seller and 10'000 left over on my bank account for fittings etc.

One more question :

House at present is pretty much empty, I mean no kitchen furniture, flooring isn't finished, basically everything that is listed on the brochure is not there. I guess it will be completed once we get mortgage approved and sign the papers. This rises another question, we would much prefer to spend extra money and fit house with good quality flooring and furniture, rather then what is listed in brochure.

So does anyone know, or think, that EA would be interested in dropping the value of the house to say from 125k to 100k. The developer went bankrupt, house is under Deloitte receivership and under NAMA scheme. I guess I want to know what do you guys think about it and how should I go about it.

Again we did our maths and we came up with a figure of 12'500 euro to finish the house the way we want it. This will include all furniture all flooring, kitchen appliances and so on. Basically the whole lot.

Please share your experience, your ideas and thoughts.

I really appreciate any bit of advice as I'm First Time Buyer.

Regards,

chris85

Lebunim wrote: »

Hi all,

Myself and Wife are looking to buy a House, few notes here:

House value - 125'000,
House status - Under receivership of Deloitte and NAMA scheme, represented by local Estate Agent
House Location - many houses available at this price in the same estate.

My questions are:

Do you think the price of the house is negotiable?
Would house be fully fitted - according to the description on the EA's website, recently updated.
Is it possible to get 10'000e more then actual property value? i.e House price after negotiations dropped to 100'000e, EA on my requests values house for 110'000e, 100'000e paid to seller and 10'000 left over on my bank account for fittings etc.

One more question :

House at present is pretty much empty, I mean no kitchen furniture, flooring isn't finished, basically everything that is listed on the brochure is not there. I guess it will be completed once we get mortgage approved and sign the papers. This rises another question, we would much prefer to spend extra money and fit house with good quality flooring and furniture, rather then what is listed in brochure.

So does anyone know, or think, that EA would be interested in dropping the value of the house to say from 125k to 100k. The developer went bankrupt, house is under Deloitte receivership and under NAMA scheme. I guess I want to know what do you guys think about it and how should I go about it.

Again we did our maths and we came up with a figure of 12'500 euro to finish the house the way we want it. This will include all furniture all flooring, kitchen appliances and so on. Basically the whole lot.

Please share your experience, your ideas and thoughts.

I really appreciate any bit of advice as I'm First Time Buyer.

Regards,

Prices are negotiable. Just depends on demand if your offer will be accepted.

The bank will give mortgage of up to a 90-92% of value of house. If you agree €100k for the house this is the present value of the house, not the listed price of €125k. So depending on the bank you will get a max mortgage of €92k and you put up the rest as a deposit.

IN terms of what comes with the property this would best be asked to the EA.