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Mortgage & Offers

  • 14-01-2014 12:28pm
    #1
    sherolad12
    Registered Users, Registered Users 2 Posts: 2 ✭


    Could do with some independent advice on this;

    I am currently going through the Mortgage Approval inPrincipal steps. I am looking at a single application & approval for €183K.I have 25K in savings for the deposit.

    The house I have my eye on is on the market for €230k forthe last three years.

    Here comes the tricky part - the estate this house is in isaffected by pyrite. Not all houses are affected so any offer will be subjectto a full survey including pyrite testing.

    One side of the coin is total disaster and the other is agreat opportunity to secure a nice home. The survey & pyrite testing willcost a few thousand but I would rather spend it now to find out what I amlooking at before I buy anything.

    What should my offer be? I have asked a surveyor and he reckons, based on there being no pyrite issue on this particular house, around€197 – €200k.
    Anyone any ideas?
    Tagged:


Comments

  • #2
    RORY O CONNOR
    Registered Users, Registered Users 2 Posts: 270 ✭✭RORY O CONNOR


    If the estate has Pyrite then be cautious. I would suggest you get the vendor to provide an engineer's report expressing an opinion on if evidence of Pyrite damage. Also find out if its insured by Homebond or Premier OSG and when doe sthe insurance expire. Your own surveyor/engineer should have the skills and knowledge as to what the indicators are for Pyrite related damage.

    I am an engineer and have surveyed many houses with Pyrite. I would not be paying for Pyrite testing if I were you-the vendor should do that! <SNIP>


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