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

Ravage1616

Just wondering how long it is taking people to get a first AIP?

Markitron

Ravage1616 wrote: »

Just wondering how long it is taking people to get a first AIP?

I got mine just before Christmas from BOI. Applied on Friday the 4th and got approval on Monday the 21st. They said it would be 10 working days and that is exactly what it was.

Moving!

Complete relevant section below from http://www.psr.ie/en/PSRA/Pages/WP20000008

Level 5
Restrictions effective on
13 January 2021 for review
on 31 January 2021

Viewings by the
public of
property for
auction

Viewings to take place online only.

Viewings by the
public of
properties for
sale

Level 5
Restrictions effective on
13 January 2021 for review
on 31 January 2021

Viewings by the public permitted of
properties by appointment only
where:
 The property has gone sale
agreed and contracts for sale
drafted
 Viewings by one party of two
people from the same
household is only permitted.
Properties must be unoccupied at the
time of appointment.

It's clear from this that a physical viewing can only take place where the property has already gone sale agreed. I don't see this happening in many cases where there wasn't at least one physical viewing before today. Can't imagine anyone going sale agreed from an online viewing only.

givyjoe

Moving! wrote: »

Complete relevant section below from http://www.psr.ie/en/PSRA/Pages/WP20000008

Level 5
Restrictions effective on
13 January 2021 for review
on 31 January 2021

Viewings by the
public of
property for
auction

Viewings to take place online only.

Viewings by the
public of
properties for
sale

Level 5
Restrictions effective on
13 January 2021 for review
on 31 January 2021

Viewings by the public permitted of
properties by appointment only
where:
 The property has gone sale
agreed and contracts for sale
drafted
 Viewings by one party of two
people from the same
household is only permitted.
Properties must be unoccupied at the
time of appointment.

It's clear from this that a physical viewing can only take place where the property has already gone sale agreed. I don't see this happening in many cases where there wasn't at least one physical viewing before today. Can't imagine anyone going sale agreed from an online viewing only.

Apparently it did happen in the last lockdown, or at least an EA claimed to me. Lots of virtual viewings prior the post sale agreed viewing.

Spoke to one today who says they have next to no new properties coming available in the next few weeks and doesn't see it picking up until February/March, which is hardly surprising if viewings can't go ahead. You'd be mad to put your house up for sale in such circumstances unless you urgently needed to move. Personally its a bit of sickner as we're likely to have less funds on our next AIP, no bonuses this year in my company and we'll likely need a new AIP by the time viewings do start again.

The new restrictions basically mean no viewings in person, except for people who are already in the process of buying a particular house. They can visit the house.
So, no viewings basically.

Even though an estate agent claimed last June that a house beside me went sale agreed from an online viewing!

Markitron

FWIW I just arranged a viewing for tomorrow evening no bother, the house is unoccupied.

Markitron

Markitron wrote: »

FWIW I just arranged a viewing for tomorrow evening no bother, the house is unoccupied.

They shouldn't be showing it at all until after lockdown. But it will always happen

Markitron

bubblypop wrote: »

They shouldn't be showing it at all until after lockdown. But it will always happen

I asked if it was legal etc, they said it was all legit as long as the house was empty and social distancing was observed.

Markitron

Markitron wrote: »

I asked if it was legal etc, they said it was all legit as long as the house was empty and social distancing was observed.

They might cancel it. Rules are now that no viewings are to take place in January at all, vacant or not. As far as I know that only became the rule as of today, though.

Ravage1616

Ravage1616 wrote: »

Just wondering how long it is taking people to get a first AIP?

I'm not sure how traditional mortgages work, as I'm still new to them, but I got AIP after a 20 minute phone call with Bank of Ireland today. They emailed me documents to show an estate agent to facilitate viewings etc.

(of course, it's just approval in principal, doesn't mean they'll give me the money).

Anonposter2020

[Deleted User] wrote: »

Apologies if this has been discussed in-depth (I pop in and out of the thread, but haven't been following it constantly).


To anyone who is on the path to buying - are you at all concerned about losing your job? I was looking at a house recently, and although it's not an earth-shattering amount of money, I still feel a bit uneasy, in the event of my worst case scenario occurring, and I'm off to the dole queue.

I can only assume this crosses everyone's mind at some point. How have you been approaching this potential issue? Or are ye just "sweeping it under the rug" and ignoring the possibility?

That was us but it was more to do with the recession in 2008 than covid19. We read far too many horror stories of people loosing their jobs and then their homes after taking out huge mortgages.

For a lot of people location is top priority but for us it was ability to repay mortgage even if worst case scenario were to happen. We moved to a rural area and got a 6 bed house for half nothing and will have no trouble paying mortgage if we were to end up on the dole. *Fingers crossed that doesn't happen*

My sister on the other hand took out a large mortgage on her own and she views it as, she'll worry about worst case scenario if and when it happens. Her view is that if you were to constantly worry about what 'could' go wrong, you'll never have anything.. Fair point but I'm a worrier so couldn't live like that. Everyone is different and I guess it boils down to whether you're a risk taker or not.

Good luck on your journey!

michellie

So we got our keys on the 9th, our buyer left us spend the weekend moving and we were officially gone from our old house on the 11th. Still painting and getting floors down, our new house needs work in every room. But we're getting there. I AM WORN OUT. I could sleep for a week.

Gaeilgeoir_Dub

The probate FINALLY came through for our house purchase. Life policy is released, house insurance, payslips etc all sent to the bank who are doing final checks for cheque issue. Might be optimistic but hoping to have keys by the end of next week as contracts already signed on both sides. Just fund transfer and key handover left, I think!

Eeriebo

Gaeilgeoir_Dub wrote: »

The probate FINALLY came through for our house purchase. Life policy is released, house insurance, payslips etc all sent to the bank who are doing final checks for cheque issue. Might be optimistic but hoping to have keys by the end of next week as contracts already signed on both sides. Just fund transfer and key handover left, I think!

How long did you have to wait for the probate?
We're in the same boat, our solicitor said it is currently taking between 10-14 weeks.

Gaeilgeoir_Dub

Eeriebo wrote: »

How long did you have to wait for the probate?
We're in the same boat, our solicitor said it is currently taking between 10-14 weeks.

It took 12 weeks in total, that includes the Christmas period so probably 10 weeks to process. We were told back in August the probate was close to issue but we then became aware there was something wrong with the documentation sent in by the vendor solicitor so that had to be rectified and the process started again in October. So it was a very long wait in the end, but relieved to have the final piece to close.

godtabh

Anonposter2020 wrote: »

That was us but it was more to do with the recession in 2008 than covid19. We read far too many horror stories of people loosing their jobs and then their homes after taking out huge mortgages.

For a lot of people location is top priority but for us it was ability to repay mortgage even if worst case scenario were to happen. We moved to a rural area and got a 6 bed house for half nothing and will have no trouble paying mortgage if we were to end up on the dole. *Fingers crossed that doesn't happen*

My sister on the other hand took out a large mortgage on her own and she views it as, she'll worry about worst case scenario if and when it happens. Her view is that if you were to constantly worry about what 'could' go wrong, you'll never have anything.. Fair point but I'm a worrier so couldn't live like that. Everyone is different and I guess it boils down to whether you're a risk taker or not.

Good luck on your journey!

We also bought a 6 bed house in a rural location moving from Dublin. Its got a big enough town maybe 15 mins away and is an hour and a half from dublin. Working from home on our Dublin wages should make life easier.

Cash_Q

Gaeilgeoir_Dub wrote:

The probate FINALLY came through for our house purchase. Life policy is released, house insurance, payslips etc all sent to the bank who are doing final checks for cheque issue. Might be optimistic but hoping to have keys by the end of next week as contracts already signed on both sides. Just fund transfer and key handover left, I think!

Congratulations! Having been through the same I can sympathise, fingers crossed all goes ahead for you next week!

Eeriebo wrote:

How long did you have to wait for the probate? We're in the same boat, our solicitor said it is currently taking between 10-14 weeks.

It took about 11 weeks for us from Sept to Nov. There was a big backlog caused by Covid and a transition to a new system so I think your solicitor's estimate is fairly accurate. Hopefully it all goes through without issue.

goingagain

We thought we were nearly there, contracts finally signed and exchanged. We sale agreed early August, we the middle of a chain of 3. Originally to close first week in January but our vendors delayed signed and didn’t return contacts before Christmas. So due to close 22nd. All seemed to be lining up , yesterday we got word our vendor has COVID so further delays.

We have been asked can we sell on 22nd and find somewhere to stay, but as a family of 6 in a level 5 pandemic this is kind of impossible. Plus would cost us a fortune.

I have my suspicions that our vendor isn’t just finding more delays, because when I walked by house last night cars were gone from drive and nobody home .

So many delays at every turn from our vendor, they are taking all the joy out of the process for us.

errlloyd

Deleted User wrote: »

They might cancel it. Rules are now that no viewings are to take place in January at all, vacant or not. As far as I know that only became the rule as of today, though.

I was not aware of the rules. I am attending viewings today and tomorrow. Today's viewing was only arranged yesterday. It's in the next two hours.

mimimcmc

errlloyd wrote: »

I was not aware of the rules. I am attending viewings today and tomorrow. Today's viewing was only arranged yesterday. It's in the next two hours.

Just got a call to say our viewing next week was also cancelled, no more viewings this month, they didn't even offer virtual viewings..(TG)
That was DNG

errlloyd

errlloyd wrote: »

I was not aware of the rules. I am attending viewings today and tomorrow. Today's viewing was only arranged yesterday. It's in the next two hours.

Did they go ahead, out of curiousity?

There's a house I'm interested in, that i can't view til february. They offered me a video tour, but I am not really interested in that (and said that to them). I'd rather wait it out.

random_banter

As an FYI, some EA’s seem to be unaware of (perhaps ignoring) the new rules on viewings. We viewed in South Dublin earlier today.

Pandemic premium very much in effect, bids over asking already in, and the bids are over 30/40k over what comparable houses on the street were going for in peak pre-pandemic times (2018/19). All the homes we’ve viewed are going for 10% over where they were pre pandemic.

Desperate buyers throwing money well over asking at properties that need serious work. The supply is atrocious, absolutely dried up in the last 7 months. Been looking for a year and it’s very obvious supply is gone to the dogs.

Likely trader uppers hanging on to see how the pandemic plays out and there’s no decent stock for them to move to anyway. Only homes coming up are executor sales.

There are horrible things going on in the world and I know we’re very lucky but still feeling pretty down about the state of the market right now.

whelo76

Went to see a house last week, looked alright in the photos but we could see things that needed to be changed. At viewing we noted things that absolutely needed to be done ie. windows, external doors, floors, heating system, insulation and new bathroom. Roughly had it costed at 50k. Had a couple of questions for the agent so emailed him. He came back and told us the bidding had gone 30k over asking price after 1 day of viewing!

People are either desperate or absolutely loaded

random_banter

whelo76 wrote: »

Went to see a house last week, looked alright in the photos but we could see things that needed to be changed. At viewing we noted things that absolutely needed to be done ie. windows, external doors, floors, heating system, insulation and new bathroom. Roughly had it costed at 50k. Had a couple of questions for the agent so emailed him. He came back and told us the bidding had gone 30k over asking price after 1 day of viewing!

People are either desperate or absolutely loaded

What region are you looking in? Can only talk about the South Side of Dublin from my experience, but this is exactly what's happening. Has to be desperation, surely? I get that people will have saved extra during the pandemic but not to the tune of the increases? Either way, these houses all seem to need a good bit of work on top of buying for well over asking. The mind boggles.

whelo76

random_banter wrote: »

What region are you looking in? Can only talk about the South Side of Dublin from my experience, but this is exactly what's happening. Has to be desperation, surely? I get that people will have saved extra during the pandemic but not to the tune of the increases? Either way, these houses all seem to need a good bit of work on top of buying for well over asking. The mind boggles.

South West Dublin. Looking to move in the area we live. A few nicer looking properties have come to market over the last couple of days. Hopefully people who are holding on see this and more listings come on

errlloyd

[Deleted User] wrote: »

Did they go ahead, out of curiousity?

There's a house I'm interested in, that i can't view til february. They offered me a video tour, but I am not really interested in that (and said that to them). I'd rather wait it out.

Both viewings went ahead alright. Two different EAs from different agencies.

random_banter

random_banter wrote: »

What region are you looking in? Can only talk about the South Side of Dublin from my experience, but this is exactly what's happening. Has to be desperation, surely? I get that people will have saved extra during the pandemic but not to the tune of the increases? Either way, these houses all seem to need a good bit of work on top of buying for well over asking. The mind boggles.

This is happening since last summer after lockdown, must be desperation. I'm looking in Dublin 7/castleknock/chapelizod general areas. Not stuck to them either.
Thankfully, I can wait and I probably will until this covid desperation is over!

pooch90

errlloyd wrote: »

Both viewings went ahead alright. Two different EAs from different agencies.

I had two viewings with same agent after restrictions were announced. All my other ones cancelled.

cnocbui

I think my sale of a remote rural property just fell through. There is still one other off market prospect at a lower price, but I might have to put it on the market.

Paris123

We have had to ask for a mortgage protection insurance waiver from AIB as my partner could not manage to obtain it from, has anyone had to do this and were you successful in obtaining it?

Thanks in advance