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

Cash_Q

Pink11 wrote:

Solicitor has all our paperwork ready, once bank sends the final letter, could the key handover be turned around in a week or am I on planet delusional?

By final letter do you mean "issue funds" ?
When we purchased, KBC did final checks on a Tuesday, funds were issued on Wednesday, we got the keys on the Thursday

Our buyers were with PTSB, supposed to close on 1st October and closed on 13th October owing to delays with PTSB, however I was told the delays were with "final checks" which probably meant outstanding documents. No idea when funds were issued by PTSB versus handing the keys over but once they issue the funds there really shouldnt be more than a 1-2 day turnaround.

Pink11

Cash_Q wrote: »

By final letter do you mean "issue funds" ?
When we purchased, KBC did final checks on a Tuesday, funds were issued on Wednesday, we got the keys on the Thursday

Our buyers were with PTSB, supposed to close on 1st October and closed on 13th October owing to delays with PTSB, however I was told the delays were with "final checks" which probably meant outstanding documents. No idea when funds were issued by PTSB versus handing the keys over but once they issue the funds there really shouldnt be more than a 1-2 day turnaround.

Thank you so much, we actually just got an update to say we're delayed 2 weeks (same as your buyers really) which in the grand scheme of things, isn't too bad.

Not having an update or a clue of their timeline was a killer.

Cash_Q

Pink11 wrote:

Thank you so much, we actually just got an update to say we're delayed 2 weeks (same as your buyers really) which in the grand scheme of things, isn't too bad.

Pink11 wrote:

Not having an update or a clue of their timeline was a killer.

Yes I know what you mean, any communication at all keeps you going. Fingers crossed everything will be tied up after the 2 weeks

Cash_Q

Pink11 wrote:

Thank you so much, we actually just got an update to say we're delayed 2 weeks (same as your buyers really) which in the grand scheme of things, isn't too bad.

Pink11 wrote:

Not having an update or a clue of their timeline was a killer.

Yes I know what you mean, any communication at all keeps you going. Fingers crossed everything will be tied up after the 2 weeks

Markitron

Do BOI require you to have saved with them to get cashback? I have AIP from them but I went through a broker and never had an account with them.

CruelCoin

Been looking for a house for a while now. 5-bed, 3/4-bath, that's not falling apart in my area. You'd think i'm asking for the earth.

Very little that fits the bill, and few new properties are coming onto the market.

We've set a deadline of end-Feb, and if we don't find something, screw it, we'll build it instead.

Busi_Girl08

CruelCoin wrote: »

Been looking for a house for a while now. 5-bed, 3/4-bath, that's not falling apart in my area. You'd think i'm asking for the earth.

Very little that fits the bill, and few new properties are coming onto the market.

We've set a deadline of end-Feb, and if we don't find something, screw it, we'll build it instead.

Have started looking to get a sense of the market in the last few weeks, admittedly we figure this is an odd time of the year to get any sense as yet (I would imagine, going in blind to this!).

Have seen a few nice houses with decent prices but there always seems to be a catch in terms of activity in the area.

Gaeilgeoir_Dub

Cash_Q wrote: »

FYI anyone waiting on KBC 1,500 cashback, we got ours yesterday 4th January after drawing down on 10th December.

Also on this, our loan offer states draw down before December to qualify for the cashback but our broker said it has been extended to June 2021.

Separate question for anyone who recently drew down with KBC, at what point do they request last 3 months payslips, as soon as draw down is initiated/requested by the vendor solicitor? We have everything ready to go contracts signed insurance etc, just waiting on probate :mad: I'm changing job early February to a company owned by the same one I'm in now, so no probation but my payslip might look different. I'm hoping we draw down and provide payslips before February to avoid any questions/complications.

Cash_Q

Gaeilgeoir_Dub wrote:

Separate question for anyone who recently drew down with KBC, at what point do they request last 3 months payslips, as soon as draw down is initiated/requested by the vendor solicitor? We have everything ready to go contracts signed insurance etc, just waiting on probate I'm changing job early February to a company owned by the same one I'm in now, so no probation but my payslip might look different. I'm hoping we draw down and provide payslips before February to avoid any questions/complications.

Your solicitor will request drawdown not the vendors, once funds are issued to your solicitor they then transfer funds to the vendor

To answer your question yes they requested payslips once the request for funds was made. We only had to supply our most recent payslips not 3 months. I was afraid they would flag my being on maternity benefit which was shown on my payslip but nothing was said as my take home pay didn't change. Hopefully it wont be an issue for you as they do seem more flexible than most banks. Maybe ask your manager to have a statement prepared that explains the situation just in case it is flagged. Once funds were requested I was able to speak to someone in the completions department who was carrying out final checks and she emailed me directly multiple times which was really helpful.

Fingers crossed probate comes through soon, we were the same held up by probate but at least everything can proceed quickly once it comes through.

Pink11

Pink11 wrote: »

Thank you so much, we actually just got an update to say we're delayed 2 weeks (same as your buyers really) which in the grand scheme of things, isn't too bad.

Not having an update or a clue of their timeline was a killer.

Spoke too soon, got another call this evening to tell us our paperwork has now expired AGAIN and we must send in all our payslips, no covid subsidy confirmation form from employee dates Jan 2021 etc. They also had errors all over our paperwork which I had to point out AGAIN as they have never corrected them. This is the THIRD time we've had to do this. They sit on our paperwork until it's out of date. HR team in work fit to kill us!

I understand the backlogs but making us re-submit parts of our application over and over... no excuse!! There is no communication and there are several different people handling our account :mad:

Cash_Q

Pink11 wrote:

I understand the backlogs but making us re-submit parts of our application over and over... no excuse!! There is no communication and there are several different people handling our account

Maddening, you're at their mercy, it is so stressful at any time but in the current climate it really is dreadful. We were so terrified that our circumstances would change before drawdown. Fingers crossed this is the last issue you'll face.

Cash_Q

Pink11 wrote:

I understand the backlogs but making us re-submit parts of our application over and over... no excuse!! There is no communication and there are several different people handling our account

Maddening, you're at their mercy, it is so stressful at any time but in the current climate it really is dreadful. We were so terrified that our circumstances would change before drawdown. Fingers crossed this is the last issue you'll face.

GrumPy

Apparently, the vendor solicitor has shared all outstanding paperwork to my solicitor today. My solicitor will hopefully confirm all is in order tomorrow and we can sign the contracts finally.

However, based on how long our process has been drawn out, I suspect there will be omissions/problems with the paperwork... Fingers crossed it finally makes progress and we can have keys before the month is out.
It's been a long journey since going sale agreed on Aug 5th, I just hope the last hurdle is straightforward.

nhoj88

Cash_Q wrote: »

No we didn't contact them it just arrived into the account which the mortgage is paid out of. I would definitely contact them if I were you, I think the offer stated it would be issued within 4 weeks of drawdown.

Thanks

McGrath5

I've gone sale agreed on a new build, paid the booking deposit and now all the fun and games really start.

I have to sell my own place, I've had 3 estate agents up to value and all are quite bullish that it will be sale agreed within "weeks".

The developer is quite relaxed re us signing a contract, they are allowing us up 8 weeks. I'm kind of surprised by this, but I suppose once you go into a higher price bracket demand does taper off?

Busi_Girl08

Just got the ball rolling with our first meeting with a BOI mortgage advisor. Based on our gross inome, and she said we would be within a good chance of a borrowing exception, we're looking at a max budget of about €295k. We were initially looking at Dublin areas in D6 and 12 and surrounding but will look at branching out a bit further afield.

We're going to do a bit more shopping around with different banks and their rates. Feels good to have made some kind of start on it but we've a loooong way to go

cubatahavana

McGrath5 wrote: »

I've gone sale agreed on a new build, paid the booking deposit and now all the fun and games really start.

I have to sell my own place, I've had 3 estate agents up to value and all are quite bullish that it will be sale agreed within "weeks".

The developer is quite relaxed re us signing a contract, they are allowing us up 8 weeks. I'm kind of surprised by this, but I suppose once you go into a higher price bracket demand does taper off?

We bought a new build. We were allowed 2 months (I think) to go sale agreed on our property. We could’ve gone sale agreed within 2 weeks but we waited 2 more to get a better price. It was worth the wait.

Rocket99

I have checked twitter and news apps and can't see anyone providing an update as to when the construction lockdown is expected to lift.
We're expecting to be moving in around March but it will be probably be April or May at this stage.
Would I be right to presume the gov will re-evaluate at the end of this month? Or does anyone know the expected return date.
Thanks

alwald

Is exceeding the 5km for the purpose of viewing a property authorised under the current lockdown? It appears that it's not from this link https://www.gov.ie/en/publication/2dc71-level-5/ which is odd as housing is essential.

extrafluff

alwald wrote: »

Is exceeding the 5km for the purpose of viewing a property authorised under the current lockdown? It appears that it's not from this link https://www.gov.ie/en/publication/2dc71-level-5/ which is odd as housing is essential.

https://www.thejournal.ie/housing-market-5318778-Jan2021/

According to Darragh O'Brien, house views can only be done in person when contracts are being drawn up. Meaning you need to make an offer & have it accepted before you can view the house in person.

I understand the need for restrictions but I don't agree with this.

michellie

So the day is finally coming. Collecting the keys for our new house tomorrow. Had a awful tragic death on new years day so we are not ready to leave our house yet as the funeral was only yesterday, but our buyer is giving us some time to move thank god

Cash_Q

extrafluff wrote:

According to Darragh O'Brien, house views can only be done in person when contracts are being drawn up. Meaning you need to make an offer & have it accepted before you can view the house in person.

extrafluff wrote:

I understand the need for restrictions but I don't agree with this.

Yes I read this earlier. Absolute nonsense, the way some houses look in photographs is often starkly different in person. Nobody could possibly make an offer and pay booking deposit before being inside the house, and no solicitor is going to draw up contracts without the house being sale agreed so it's basically putting the market on stand still. So sorry for everyone affected by this

givyjoe

extrafluff wrote: »

https://www.thejournal.ie/housing-market-5318778-Jan2021/

According to Darragh O'Brien, house views can only be done in person when contracts are being drawn up. Meaning you need to make an offer & have it accepted before you can view the house in person.

I understand the need for restrictions but I don't agree with this.

I personally won't be adhering to this. Completely and utterly impractical.

Cash_Q

michellie wrote:

So the day is finally coming. Collecting the keys for our new house tomorrow. Had a awful tragic death on new years day so we are not ready to leave our house yet as the funeral was only yesterday, but our buyer is giving us some time to move thank god

Great news on the house, congratulations. Condolences on your loss, that's great that your buyer is understanding and in a position to give you a bit more time. Best of luck with it.

Foxx92

Markitron wrote: »

Do BOI require you to have saved with them to get cashback? I have AIP from them but I went through a broker and never had an account with them.

Nope, shouldnt be an issue where the savings are

michellie

Cash_Q wrote: »

Great news on the house, congratulations. Condolences on your loss, that's great that your buyer is understanding and in a position to give you a bit more time. Best of luck with it.

Thank you, luckily we had our buyers phone number so my husband rang and explained it to him a few days ago.

BrosnanL27

Rocket99 wrote: »

I have checked twitter and news apps and can't see anyone providing an update as to when the construction lockdown is expected to lift.
We're expecting to be moving in around March but it will be probably be April or May at this stage.
Would I be right to presume the gov will re-evaluate at the end of this month? Or does anyone know the expected return date.
Thanks

In the same boat - was due to move into new build in March. Called the EA and was told site is closed from tomorrow and they will re-evaluate on January 31st in line with Govt advice. They said hopefully it will be an April move in date now.

jokettle

We should be closing on our house soon (went sale agreed on August 1st....it's been a bit of a slog!) and I have a question about this last stage.
Contracts are signed on both sides, bank has confirmed they can release the funds despite a qualification on the title, most recent payslips are with the broker. We applied for Mortgage Protection also through our broker, and that application went in on Monday evening. We both have minor medical issues that we described honestly and in detail on the application. I'm wondering how long it might take for them to decide if they need a letter from our GP before we get the policy sorted. Anyone been through this recently? We're applying to Royal London.
I know it's like asking how long is a piece of string, but it's difficult not to get fixated on these small things when you're so close to the finish line.

Baby01032012

Guidelines resulting from the stricter level 5 introduced yesterday means all viewings must now be virtual.

Only when contracts are ready to be issued can a buyer physically view a property. Contracts nowadays are issued at the end of the sale process when deeds have been received and all requisitions and enquiries on title have been raised by the buyers solicitor.

Whether agents will strictly follow this I don’t know. I think this will further delay properties being put to market. It will be a very slow first quarter or six months.

optogirl

Baby01032012 wrote: »

Guidelines resulting from the stricter level 5 introduced yesterday means all viewings must now be virtual.

Only when contracts are ready to be issued can a buyer physically view a property. Contracts nowadays are issued at the end of the sale process when deeds have been received and all requisitions and enquiries on title have been raised by the buyers solicitor.

Whether agents will strictly follow this I don’t know. I think this will further delay properties being put to market. It will be a very slow first quarter or six months.

Christ. I feel like giving up and just renting forever more