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

lcarrol3

cubatahavana wrote: »

You need to snag and then it’ll take probably a couple of weeks to fix issues. You could move in before all snags are completed if what’s left is not too important and they confirm that they’ll fix it later.

Apologies, I should have been more clear. We've snagged and gone for our desnag on Tuesday gone. Monday the 7th is due to be the final completion notice.

Cash_Q

I asked earlier in the thread but may have been missed by those with experience;

Anyone with recent experience able to share their drawdown times from KBC?

Solicitor submitted all documents required on Thursday 26th Nov, we have also submitted all documents requested e.g. recent payslips etc..

Solicitor is requesting funds for 3rd Dec but not expecting them through until 11th..

cubatahavana

Cash_Q wrote: »

I asked earlier in the thread but may have been missed by those with experience;

Anyone with recent experience able to share their drawdown times from KBC?

Solicitor submitted all documents required on Thursday 26th Nov, we have also submitted all documents requested e.g. recent payslips etc..

Solicitor is requesting funds for 3rd Dec but not expecting them through until 11th..

We’ve requested funds for 1/12 and our broker told us that it’s scheduled for that day

whatever99

cubatahavana wrote: »

We’ve requested funds for 1/12 and our broker told us that it’s scheduled for that day

When did you sign? Just wondering what the usual timeline is between signing and funds being drawn down. Thanks.

Cash_Q

cubatahavana wrote: »

We’ve requested funds for 1/12 and our broker told us that it’s scheduled for that day

Thank you yes I saw you posted that the other day, fingers crossed for you that your broker is spot on, they do this so regularly that they would have a good idea wouldnt they. Remind me when they were requested if you don't mind?

cubatahavana

Cash_Q wrote: »

Thank you yes I saw you posted that the other day, fingers crossed for you that your broker is spot on, they do this so regularly that they would have a good idea wouldnt they. Remind me when they were requested if you don't mind?

Last week, I think Tuesday. I hope it happens

cubatahavana

whatever99 wrote: »

When did you sign? Just wondering what the usual timeline is between signing and funds being drawn down. Thanks.

We signed about three weeks ago. Can’t remember the exact date.

brisan

random_banter wrote: »

The posts above have all really hit close to home with me. We’ve been looking all year and have seen the supply get from bad to worse. And all around me my peers who said this would be a terrible year to buy have gone ahead and done it.

I’m going to be 35 in a few months, my partner is a couple of years ahead of me. We’ve finally identified an area that ticks boxes for us. We’ve seen lots of houses. They go within a week or so in many cases. Bidding wars for nearly all of them. It is South Dublin after all! Last week we decided we’d need to wait till the spring and hope supply improves - things are going for over what they’re worth at the moment. We could save a little more too. At the moment you could have a house selling for 650k (overpriced IMO) that needs 200k worth of work and you know it’ll never be an 850k house to sell. There seems to be a lot of desperation out there, a willingness to go too far on a house just to get one. We want to stay in the house for life but understanding what you put in vs what you’d get out if selling is still important IMO.

Anyway after making the decision to wait until next year and knowing that these seem to be the market conditions at the moment, a house popped up a few days ago. It ticked every box and was the best fit yet. I felt like perhaps this was our one and we might have a chance. Needs a lot of work. Which could put people off. Great.

We were the second viewer yesterday on the first day of viewing. I fell in love with it. The EA informed me that the first viewer offered asking price as soon as they walked in the door. We knew then we wouldn’t have a chance. EA reckons it will go for 70-90k over asking (lunacy from the buyers in my opinion, so much work required).

Anyway after all that, the hope was sucked out of me. We didn’t even have a chance! A few tears were shed on the way home.

Starting to accept that it’s going to take years for this to happen but I feel myself getting older too.

Just want to say thanks to everyone for sharing their similar experiences, it is good to get other perspectives.

I would consider myself experienced enough in the property market
I /we are in out fourth family home
i /we have had 4 investment properties
Along with my brothers we have flipped over 30 properties
You have to look at your home different to a house
I/we overpaid (knowingly and willingly )for our last 3 homes ,but never overpaid for an investment property.
If its what you want and you can see yourself raising a family happily there for a long time then go ahead and buy.
We paid 500k for a shell,20k builders deposit vendor already paid ,and 50k expected vendors profit for our last home to ensure it did not go on the market
We put 200k into it doing a lot of the work ourselves and with family and mates rates
Would we get 770k back ,i doubt we would get 650k
However we are in a home that will be perfect for us till we die ,in our preferred area with everything on our doorstep
You buy a house with your head
You buy a home with your heart and your head
As another poster said live your life .its not a dress rehearsal
Negative equity is only a factor if you have to sell
If you can afford the mortgage and live a decent standard of living go ahead
You cannot continually put your life on hold

Cash_Q

cubatahavana wrote: »

Last week, I think Tuesday. I hope it happens

Yes I hope it happens for you too!

squareboy007

Hi All,

I've read all the possible drawdown time lines for KBC, PTSB and AIB.

Ulster Bank received the last of our drawdown documents on Friday morning and advised us 2/3 workings days. Is this at all likely?

Cheers.

omicron

squareboy007 wrote: »

Hi All,

I've read all the possible drawdown time lines for KBC, PTSB and AIB.

Ulster Bank received the last of our drawdown documents on Friday morning and advised us 2/3 workings days. Is this at all likely?

Cheers.

I haven't drawn down yet with Ulster but everything so far has been really quick, underwritten AIP within 48 hours and loan offer within 3 working days from when I submitted documents so they seem to be fairly quick.

squareboy007

omicron wrote: »

I haven't drawn down yet with Ulster but everything so far has been really quick, underwritten AIP within 48 hours and loan offer within 3 working days from when I submitted documents so they seem to be fairly quick.

They have been good so far and yes generally quite quick.

PinkSpark

squareboy007 wrote: »

They have been good so far and yes generally quite quick.

If you don’t mind me asking, what documents did they ask for drawdown? We’re close to drawdown ourselves with Ulsterbank just waiting for sign contracts but our advisor in UB is constantly on leave and finding it hard to get information on what we need. Just really want to have everything ready to go

Starlord_01

Loan offer received and sent to solicitors today - all we are waiting on is a closing date from the vendor :eek:

squareboy007

PinkSpark wrote: »

If you don’t mind me asking, what documents did they ask for drawdown? We’re close to drawdown ourselves with Ulsterbank just waiting for sign contracts but our advisor in UB is constantly on leave and finding it hard to get information on what we need. Just really want to have everything ready to go

1st thing is to look at your loan offer. It will have a list of documents. Ours was:
- Declaration from us that our financial position hadn't changed and that we are still happy to drawdown
- Latest payslips and 2 months current account statements
- Letter that House policy has been assigned
- Various Life policy documents
- Funds request from solicitor
- Confirmation that we had sold our previous house and had the deposit. (our solicitor did a letter for us)
- marriage certificate ...Random!

pooch90

squareboy007 wrote: »

1st thing is to look at your loan offer. It will have a list of documents. Ours was:
- Declaration from us that our financial position hadn't changed and that we are still happy to drawdown
- Latest payslips and 2 months current account statements
- Letter that House policy has been assigned
- Various Life policy documents
- Funds request from solicitor
- Confirmation that we had sold our previous house and had the deposit. (our solicitor did a letter for us)
- marriage certificate ...Random!

We have been asked for our marraige cert for AIP. It was because my bank accounts are in my maiden name. Could that be why?

brisan

squareboy007 wrote: »

1st thing is to look at your loan offer. It will have a list of documents. Ours was:
- Declaration from us that our financial position hadn't changed and that we are still happy to drawdown
- Latest payslips and 2 months current account statements
- Letter that House policy has been assigned
- Various Life policy documents
- Funds request from solicitor
- Confirmation that we had sold our previous house and had the deposit. (our solicitor did a letter for us)
- marriage certificate ...Random!

I may be wrong but a marriage cert gives both parties more legal and equal rights to the property

michellie

We signed contracts last week, AIB submitted everything for drawdown and I got a text from them this morning to say they received everything from the solicitor. Hoping to close on the 10th /11th.

Starlord_01

michellie wrote: »

We signed contracts last week, AIB submitted everything for drawdown and I got a text from them this morning to say they received everything from the solicitor. Hoping to close on the 10th /11th.

Congrats! Hope you've your Christmas tree ready!!

Sweet.Science

So another house that's been on the market for 2 months or so . Im the only bidder yet the seller won't accept

Does't feel right to be bidding against myself. The market isn't dictating the value like the cliche its the seller

I'll probably move on. Again

Cash_Q

Sweet.Science wrote:

So another house that's been on the market for 2 months or so . Im the only bidder yet the seller won't accept

Have you asked if they have a figure in mind that they are happy to close on? I know it feels wrong to outbid yourself but if they cant accept your offer and you really want the house then check of their minimum is within your maximum.

When we sold our house is was valued at 265-285k so of course we wanted the 285 as it would give us a considerably bigger deposit and with that a much bigger budget. Bids were slower than we liked compared to what we were seeing with the houses we viewed, so we realised that we would have to take less but we genuinely couldnt afford to take any less than 270k because we needed to walk away with X amount after clearing the mortgage. We took 271k in the end because they were stronger buyers than the 270k bid. Sale agreed 5 weeks on the market.

The point I'm trying to make is that they might not be holding out for as much as they can get, they simply might not be able to afford to sell at the price you've bid.

Sweet.Science

Cash_Q wrote: »

Have you asked if they have a figure in mind that they are happy to close on? I know it feels wrong to outbid yourself but if they cant accept your offer and you really want the house then check of their minimum is within your maximum.

When we sold our house is was valued at 265-285k so of course we wanted the 285 as it would give us a considerably bigger deposit and with that a much bigger budget. Bids were slower than we liked compared to what we were seeing with the houses we viewed, so we realised that we would have to take less but we genuinely couldnt afford to take any less than 270k because we needed to walk away with X amount after clearing the mortgage. We took 271k in the end because they were stronger buyers than the 270k bid. Sale agreed 5 weeks on the market.

The point I'm trying to make is that they might not be holding out for as much as they can get, they simply might not be able to afford to sell at the price you've bid.

Yeah i may do that . I agree in people like your position every thousand counts. However, when the seller has bought their house for around 20k and are selling for >360k its harder to accept

Cash_Q

Sweet.Science wrote:

Yeah i may do that . I agree in people like your position every thousand counts. However, when the seller has bought their house for around 20k and are selling for >360k its harder to accept

Yes it is harder to accept but if the house next door was bought for 360k and you got it got 360k it's still the same house at the end of the day. You have to take personal issues like that out of it, which I know is hard! We are paying 300k for our house and they bought it for ~30k in the 80s, not their fault the market was like that then, not their fault the market is like this now. If you pay 360k for it now, who knows what you'll sell it for if you ever do. We bought that house in 2018 and if our buyers had checked the PPR and were insistent on getting it for the price we paid, well they wouldnt have gotten it, simple as that.

cubatahavana

According to our broker, KCB has relesed the funds today. Friday (closing day) is getting closer!

Cash_Q

cubatahavana wrote:

According to our broker, KCB has relesed the funds today. Friday (closing day) is getting closer!

Brilliant! I've been onto the completions team today and tomorrow and just have two outstanding bits to sort before they issue funds so looking at next week as expected. Best of luck for Friday!

lcarrol3

squareboy007 wrote: »

Hi All,

I've read all the possible drawdown time lines for KBC, PTSB and AIB.

Ulster Bank received the last of our drawdown documents on Friday morning and advised us 2/3 workings days. Is this at all likely?

Cheers.

I'd really appreciate if you could keep us posted if this pulls through - we're drawing down with Ulster next week!

fisgon

I finally signed contracts yesterday. My solicitor has said I should be in by Christmas - he hopes for funds in two weeks, closing in three.

Let's see. I'll believe it when I am in the door.

Pink11

Once you have funds released, solicitor confirms its closed etc - what happens then? When do you actually get the keys typically?

michellie

Starlord_01 wrote: »

Congrats! Hope you've your Christmas tree ready!!

Thanks its in the attic desperate to be taken down!! Hate not having the decorations up yet haha

Cash_Q

Pink11 wrote:

Once you have funds released, solicitor confirms its closed etc - what happens then? When do you actually get the keys typically?

As fast as the estate agent can get them to you. When we bought our first house we got the keys the next day but only because we were away on the day itself. When we sold our house in October we gave the keys to the estate agent the day it closed and the buyer was seen at the house that evening. We are due to close next week and I'll be expecting the keys on the day after a 10 week delay with probate!