Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

The_Brood

Trying to buy currently....but do you seriously need to pay for a 150 euro valuation report ON TOP of 300 euro for surveyor? Is that not completely extreme? Are there any laws in favor of home buyers?

CarMc

Got the keys to our house on Friday, honestly thought it would never happen, had so many set backs along the way and thought of pulling out so many times but here we are surrounded by boxes and half settled in,

We are second time buyers so were selling and buying at the same time.

By way of a quick timeline we applied for AIP in Feb and got underwritten approval in early March - we were taking our tracker mortgage with us and also got a LTV exemption. Then Covid lock down happened and everything was frozen for 3 months!

As soon as lock down we put our house up for sale (end of June), it was sale agreed by early July. However we were getting outbid on every property we viewed. Also with restrictions we could only view one or two houses a week. It was torture. Our buyers where keen to move quickly and we had to delay.

One condition of tracker porter mortgages is that you have to have a loan offer on new house before you close existing house so we couldn't move ahead with our sale until we found a house to move on into. We finally found it and went sale agreed towards the end of August.

Once that happened we pushed on - you really do have to stay on top of everyone - bank, solicitor & estate agents. We had so many things go wrong along the way, contracts & cheques missing in the post, loan offer issued after 3 weeks wait but had the wrong address on it, but we closed last week on both on the same day and finally moved.

CarMc

The_Brood wrote: »

Trying to buy currently....but do you seriously need to pay for a 150 euro valuation report ON TOP of 300 euro for surveyor? Is that not completely extreme? Are there any laws in favor of home buyers?

Yep and survey will probably cost more than 300 - should really be done by same person I suppose! Valuation is usually done by an estate agent for the bank and I've never heard of them valuing it at anything different than the exact price you agreed to pay for it!

cubatahavana

The_Brood wrote: »

Trying to buy currently....but do you seriously need to pay for a 150 euro valuation report ON TOP of 300 euro for surveyor? Is that not completely extreme? Are there any laws in favor of home buyers?

Our broker covers valuation fee

thunderdog

Viewing an older house this weekend with a small kitchen. If we did end up buying it I’d be looking to knock through between the internal wall between the dining room and kitchen. Has anyone any tough idea of an approx cost for knocking an internal wall?

AngryLips

The_Brood wrote: »

Trying to buy currently....but do you seriously need to pay for a 150 euro valuation report ON TOP of 300 euro for surveyor? Is that not completely extreme? Are there any laws in favor of home buyers?

If you find a surveyor who is also on the mortgaging bank's panel for valuations then you could save by getting them to do both.

brisan

Littleredcar wrote: »

Currently have offers up to asking price but 3.5 percent under ea estimated price . Both cash buyers

Take the cash buyer and run
Just make sure they have the cash

brisan

thunderdog wrote: »

Viewing an older house this weekend with a small kitchen. If we did end up buying it I’d be looking to knock through between the internal wall between the dining room and kitchen. Has anyone any tough idea of an approx cost for knocking an internal wall?

It will depend on weather it’s a supporting wall
If so you will need an RSJ ( steel beam ) or similar put in place to support the ceiling
Depends on other factors but it’s basically a days work for two lads , a skip ,an rsj and a bit of plasterboard and plastering
However are there any electrics in the wall , an older house so I doubt plumbing involved
5k should more than cover it

idklmkfyi

Hi, first time buyer for second-hand apartment receiver sale. It has been 8 weeks since we went sale agreed but still no contracts. Receiver is constantly apologising for delays and committing on timelines they haven't so far fulfilled (this is at least what the EA tells us).

EA has been extremely useless. We found out earlier this week that the solicitor they claimed to have appointed has no information whatsoever regarding the sale of the property. EA isn't able to tell our solicitor who the actual solicitor is and keeps telling he has passed on our concerns to the receiver and waiting for an update.

Is EA really doing their job here? Are they not at least responsible for providing the contact details of correct solicitor? The name on the Sales Advice Notice (SAN) they issued is saying she isn't assigned to this sale. What is the validity of SAN if the solicitor name on it is wrong?

PommieBast

idklmkfyi wrote: »

EA has been extremely useless. We found out earlier this week that the solicitor they claimed to have appointed has no information whatsoever regarding the sale of the property. EA isn't able to tell our solicitor who the actual solicitor is and keeps telling he has passed on our concerns to the receiver and waiting for an update.

This is a big red flag to me. I think this sale is going to fall through to be honest.

Graham

idklmkfyi wrote: »

Is EA really doing their job here? Are they not at least responsible for providing the contact details of correct solicitor? The name on the Sales Advice Notice (SAN) they issued is saying she isn't assigned to this sale. What is the validity of SAN if the solicitor name on it is wrong?

I'd guess most of this is outside of the EAs control, I'm sure they are also keen for the sale to complete.

I hate to say it but receiver sales can be dragged out for quite some time. Hopefully not in your case as any sensible receiver will have one eye on the property market and increasing value by dragging things out is far from a foregone conclusion.

Leozord

Finally got my Loan Offer.

Already got the contract from vendor's solicitor, things seems to be going well

hopefully covid won't delay things

brisan

idklmkfyi wrote: »

Hi, first time buyer for second-hand apartment receiver sale. It has been 8 weeks since we went sale agreed but still no contracts. Receiver is constantly apologising for delays and committing on timelines they haven't so far fulfilled (this is at least what the EA tells us).

EA has been extremely useless. We found out earlier this week that the solicitor they claimed to have appointed has no information whatsoever regarding the sale of the property. EA isn't able to tell our solicitor who the actual solicitor is and keeps telling he has passed on our concerns to the receiver and waiting for an update.

Is EA really doing their job here? Are they not at least responsible for providing the contact details of correct solicitor? The name on the Sales Advice Notice (SAN) they issued is saying she isn't assigned to this sale. What is the validity of SAN if the solicitor name on it is wrong?

That can be applied to the vast majority of them

Bluefoam

Well, that's that... Picked up keys today.

Ten years saving, two years I gave up everything from my social life, to clothing myself to eating... Literally gave up everything.

Fought banks, the government and the developer.

House was to be finished in July 2019... Finally got the keys today, the developer was an arrogant ****e, hasn't communicated anything useful in the 20 months it took to complete the sale.

Such a relief, I didn't believe it would actually happen until yesterday evening. It has been the most difficult and horrendous experience of my life. I have to learn to be happy again...

Funny thing is, I had a massive deposit and capability to save far more than the mortgage amount... It shouldn't be so difficult, but it is.

Bluefoam

BTW, my broker was absolutely amazing throughout, he has literally spoken to me every week for two years... Has been a lateral thinker, and this wouldn't have happened without him. Genuinely, amazing.

OwlsZat

Bluefoam wrote: »

Well, that's that... Picked up keys today.

Ten years saving, two years I gave up everything from my social life, to clothing myself to eating... Literally gave up everything.

Fought banks, the government and the developer.

House was to be finished in July 2019... Finally got the keys today, the developer was an arrogant ****e, hasn't communicated anything useful in the 20 months it took to complete the sale.

Such a relief, I didn't believe it would actually happen until yesterday evening. It has been the most difficult and horrendous experience of my life. I have to learn to be happy again...

Funny thing is, I had a massive deposit and capability to save far more than the mortgage amount... It shouldn't be so difficult, but it is.

Congrats, where did you buy? Sounds like I'm in a similar situation but the morgage side of it seems grand. Must have been on the devleoper / sales agent side?

Bluefoam

OwlsZat wrote: »

Congrats, where did you buy? Sounds like I'm in a similar situation but the morgage side of it seems grand. Must have been on the devleoper / sales agent side?

Mortgage offers only last 6 months at a time, so in the past 20 months I have completed 3 separate & full applications... The final one ran out a month ago, which was too soon for the drawdown + banks have stopped allowing one month extra time on sales that are closing... So had to do some creative work to get an extension of one month, which in itself required almost a full new application. Each time you go through this, it's very stressful as you are not guaranteed to get it each time. I'm have an exemption, and in the current environment it was unlikely I would get that again if I had to do another round of financing. The drawdown literally happened on the last day of my extended offer... If that didn't happen, I wouldn't have gotten the house and I would have had difficulty getting a mortgage that would cover the cost of a house in Dublin. After giving up so much in life, that would not have been an acceptable outcome.

The rules applying to developers are different to those applying to the banks... Therefore there's a catch 22. The developer in my case believed he had two years to finish the houses, irrespective of what was said when they sold the houses... They didn't communicate anything at all about the delays, changes to specifications... anything... No communication to settle nerves in the 20 months... Extremely stressful. They took their time, did what they wanted and were disrespectful to all of the buyers in this small development. There are no rules or standards governing them.

The government don't hold anyone to account, they own the banks but refuse to hold them accountable... They refuse to hold developers accountable... Plus the TWSS scheme was shortsighted and the banks took advantage of it to suit their own agenda. Hence the fact that the government had to change the terms of how the covid stability package works.

The whole thing is a mess. I could give lots of details of how this is all just wrong. You shouldn't have to beg to be allowed to own a house, the whole process is humiliating and dehumanising... There is a clear division in society between those who own houses and those who don't and that's only going to get worse.

OwlsZat

Bluefoam wrote: »

The government don't hold anyone to account, they own the banks but refuse to hold them accountable... They refuse to hold developers accountable... Plus the TWSS scheme was shortsighted and the banks took advantage of it to suit their own agenda. Hence the fact that the government had to change the terms of how the covid stability package works.

The whole thing is a mess. I could give lots of details of how this is all just wrong. You shouldn't have to beg to be allowed to own a house, the whole process is humiliating and dehumanising... There is a clear division in society between those who own houses and those who don't and that's only going to get worse.

Property is being used as a tool to keep people poor. It's a shameful reflection on the past generation. Leo's "get a loan off yer Da" comment summed it up.

Anyways, congrats on your success it sounds like it was hard-earned and well deserved. Interesting about how you talk of the lack of a process around developers. You can add sales to that list of completely unregulated processes. It's no wonder there is abuse when the process is non existant.

Sweet.Science

Anyone deal with KBC before ? Seems like they are causing me major delays

CarMc

Bluefoam wrote: »

The government don't hold anyone to account, they own the banks but refuse to hold them accountable... They refuse to hold developers accountable... Plus the TWSS scheme was shortsighted and the banks took advantage of it to suit their own agenda. Hence the fact that the government had to change the terms of how the covid stability package works.

The whole thing is a mess. I could give lots of details of how this is all just wrong. You shouldn't have to beg to be allowed to own a house, the whole process is humiliating and dehumanising... There is a clear division in society between those who own houses and those who don't and that's only going to get worse.

I wonder is it this difficult in every country or is this just an Irish thing! The whole process just seems unnecessarily complicated and full of delays. It makes a stressful situation more stressful. Anyway congrats, well deserved, enjoy your new home!

scamalert

dunno where to post, but now since announced there cant be any visitors in houses does that mean sellers buyers are fcked for foreseeable future ?

Ozark707

scamalert wrote: »

dunno where to post, but now since announced there cant be any visitors in houses does that mean sellers buyers are fcked for foreseeable future ?

Would moving etc not be deemed essential? If proper adherence to guidelines are maintained hopefully it can continue as was over last few months.

Kop On

Tough market out there at the moment and extremely competitive. Something I hadn’t considered but was said to me recently is that 6 months of “lockdown” has seriously inflated the savings of those fortunate enough to have remained in full employment.

Bid aggressively on two houses recently and lost out on both having got down to final 2/3 bidders. One we had bid 45K over asking price the other went to a “best and final offer” scenario with bids put in a sealed envelope.

Not an enjoyable experience.

scamalert

Ozark707 wrote: »

Would moving etc not be deemed essential? If proper adherence to guidelines are maintained hopefully it can continue as was over last few months.

hoping thats the case whole level idea seems nuts as is, people going crazy by day watching em numbers. none the less def will put strain on sellers buyers, doubt thou that it will be in anyone's favor.

aquinn

scamalert wrote: »

dunno where to post, but now since announced there cant be any visitors in houses does that mean sellers buyers are fcked for foreseeable future ?

I just got an email over a viewing next week so don't think so. Usual precautions in place.

Littleredcar

aquinn wrote: »

I just got an email over a viewing next week so don't think so. Usual precautions in place.

It’s classed as business not a social visit so ok

CianRyan

Interested Observer wrote: »

Just note that there's loads of things that can hold it up. Even if everything is fine, no problems with the deeds etc, 4-6 weeks sounds optimistic.

Late reply by all account but hey, life is busy these days!

Yeah, it's pretty optimistic but that's coming from the seller and estate again as opposed to us.
The property is a vacant rental which had previously been sale agreed for months, their solicitor apparently has everything ready to go and we are not in a chain so all going well, the solicitor we chose seems to think it should be doable also.

So far on this journey we've been very lucky and haven't had any real speed bumps, we need to receive our loan offer which should be in 9 working days and we can sign.
I am fully expecting an absolute grilling from the banks but we are very frugal and honestly... Probably boring.

Call me naive or jaded but I do have hope. :pac:

poker--addict

Kop On wrote: »

on two houses recently and lost out on both having got down to final 2/3 bidders. One we had bid 45K over asking price the other went to a “best and final offer” scenario with bids put in a sealed envelope.

Not an enjoyable experience.

:eek: yikes.....

poker--addict

See at least 2 properties have their price increased last week, and then go sale agreed. Is this a practice by auctioneers to indicate the actual sale price to thei market, or to try and generate an illusion of demand, or just coincidence ?

Lia_lia

Currently have deposit on a new build in a new estate. Ready to sign contracts, house ready early next year, Kitchen designed, mortgage sorted, very excited about purchase. However we were notified that the house is in a high risk flood area.

Can’t get house insurance that includes flood cover. There are loads of flood defences put in. We were told by locals that the site has flooded before but flood defences have been put in since. Houses are pretty much sold out and are very in demand. How are people not concerned about the flood risk? We are pretty sure we are pulling out. Any advice? What would you do?