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

Necronomicon

Thanks for the input everyone. I like the idea of asking my solicitor for a letter stating I have the funds available.

Craig_David

in the middle of switching and waiting on my bank to release the deeds.
My solicitor has been chasing them for a few weeks now..
Is there any use in me chasing my bank also? Will it make any difference I wonder..?

FouxDaFaFa

I have just gone sale agreed on an apartment. Can anyone recommend a solicitor in South Dublin, ideally D12/14ish?

NewRed2

FouxDaFaFa wrote: »

I have just gone sale agreed on an apartment. Can anyone recommend a solicitor in South Dublin, ideally D12/14ish?

will PM you one now!

Cork market is still effectively dead. Area I'm bidding in has semi detached 3 beds going for 315+. Ordinarily would be around 275. Still nothing really going up so that doesn't really help. Hoping things begin to change soon but less than confident.

FrankN1

Market in Dublin & North Kildare is nuts. Hoping it calms down even a tiny bit in the next 1-3 months as viewings resume.

Daz_

Craig_David wrote: »

in the middle of switching and waiting on my bank to release the deeds.
My solicitor has been chasing them for a few weeks now..
Is there any use in me chasing my bank also? Will it make any difference I wonder..?

Simple answer , yes. I did , explained it was an urgent case and they got them out sharply. That was with BOI. i found in the entire process you have to be hands on if you want things to keep moving.

Pussyhands

FrankN1 wrote: »

Market in Dublin & North Kildare is nuts. Hoping it calms down even a tiny bit in the next 1-3 months as viewings resume.

It's madness.

Sit tight, if you're content to.

FrankN1

Pussyhands wrote: »

It's madness.

Sit tight, if you're content to.

Can't see prices coming down much, if at all, in the next 2/3 years. Most we can hope for is they level off even a small bit.

Emma2019

It's taking every ounce of strength not to badger the estate agent and solicitor to find out if they're going to accept the closing date we put on the contracts we sent back.

Its been a week of torture!

liam7831

Emma2019 wrote: »

It's taking every ounce of strength not to badger the estate agent and solicitor to find out if they're going to accept the closing date we put on the contracts we sent back.

Its been a week of torture!

Closing date is just a guide for drawing down funds etc, doesnt really matter if its finished up a few weeks before or after this date.

Emma2019

Not sure if I get what you mean, but I had understood that if they sign to agree 3rd of June that they cant delay it past that.

But I mostly just want to know if we're all working towards the same date or not.

fergus1001

FrankN1 wrote:

Can't see prices coming down much, if at all, in the next 2/3 years. Most we can hope for is they level off even a small bit.

as soon as everyone with more than 10%deposit has their house and it's back to the normal 3.5 times gross salary folk prices will fall back

I'm interested in seeing data on closing prices for the quarter rather than people in bidding wars, nobody knows if these sales are actually going through

liam7831

Emma2019 wrote: »

Not sure if I get what you mean, but I had understood that if they sign to agree 3rd of June that they cant delay it past that.

But I mostly just want to know if we're all working towards the same date or not.

Yes they can, the closing date is agreed by the two solicitors as a reasonable date for both parties to aim for. Could easily be another 4 or 6 six weeks after this date if progress is slow due to banks engineers planning etc

stampydmonkey

fergus1001 wrote: »

I'm interested in seeing data on closing prices for the quarter rather than people in bidding wars, nobody knows if these sales are actually going through

Have seen 5 or 6 mad prices for houses in the area we are looking over the last 5-6 months . 3 are up on the ppr and the mad price was realised

Zenify

fergus1001 wrote: »

as soon as... it's back to the normal 3.5 times gross salary folk prices will fall back.

Are banks more relaxed with exemptions at the moment? I didn't hear anything about this...

Pussyhands

Zenify wrote: »

Are banks more relaxed with exemptions at the moment? I didn't hear anything about this...

think he means people who've saved loads during the pandemic and have bigger cash deposits.

Stark

Saw in the papers today that KBC and Permanent TSB have burned through their exemptions for the year. That might cool things somewhat in the second half of the year.

Mav11

Rising house prices are not just an Irish problem. Interesting article on CNN on the global nature of the issue:

https://edition.cnn.com/2021/05/13/business/global-real-estate-prices/index.html

Pussyhands

Mav11 wrote: »

Rising house prices are not just an Irish problem. Interesting article on CNN on the global nature of the issue:

https://edition.cnn.com/2021/05/13/business/global-real-estate-prices/index.html

Economies grow and create jobs far faster than houses can be built. As long as there's jobs, there'll be money, there'll be money flowing into housing.

All the jobs created are in cities which brings everyone to the cities.

Governments pumping cash into the economy like there's no tomorrow doesn't help.

Sue de Nimes

I have various alerts setup with daft.ie and I get emails with any new properties listed.

I keep seeing stuff that is already "sale agreed". This morning I got an email and 2mins later I looked at it only to see it was "sale agreed"

What on earth is the deal with that?

cousin_borat

So after going sale agreed end of November 2020, we have a closing date of June 1st

Cheque requisition went from our solicitor to EBS last week. A bit of grumbling from our solicitor about not transferring funds too soon due to negative interest rate for solicitor client accounts (-0.5% with AIB).

So 3 years, 1 sale fall through and innumerable hours of dealing with various banks and jumping through hoops as self employed person we're almost there...

Will leave discussion for how to simplify the house buying process for other threads...

cousin_borat wrote: »

On Thursday gone we signed the contracts with our solicitor, and paid deposit balance :P

Took alot of wrangling by myself in the background to get the KPMG/IBRC deeds issue sorted out. There was a chain of 4 solicitors involved (our solicitor, vendors current solicitor, vendors previous solicitor from when they bought the house, previous owners solicitor when they sold the house to current vendor).

If you find yourself in a similar situation, try to take control of the situation, even if it may involve overstepping the mark slightly. Solicitors naturallly enough are v busy, so won't be proactive in these situations and they're not thinking about your case all the time! Also a chain of communication like that leads to mis-communication. For example my KPMG contact emphasized the need to email requests. When it got to the solicitor who was required to file an eDischarge he decided it was best to courier the docs to IBRC address on Golden Lane which is empty without even a security guard.

Sue de Nimes

Sue de Nimes wrote: »

I have various alerts setup with daft.ie and I get emails with any new properties listed.

I keep seeing stuff that is already "sale agreed". This morning I got an email and 2mins later I looked at it only to see it was "sale agreed"

What on earth is the deal with that?

Advertising I was told by one estate agent. Free advertising for them. Looks good that they have multiple properties as 'available' rather than none.

Infuriating from a buyer's perspective. LWK in North Dublin have properties listed as available on Daft that were sold and already listed on the PPR.

Sue de Nimes

Deleted User wrote: »

Advertising I was told by one estate agent. Free advertising for them. Looks good that they have multiple properties as 'available' rather than none.

Infuriating from a buyer's perspective. LWK in North Dublin have properties listed as available on Daft that were sold and already listed on the PPR.

Moving back to Ireland after 20 years in the UK, my wife and I see huge differences in the house buying process. One thing we have seen is the difference in regulation. I don't think UK estate agents are any more trustworthy, but they are regulated very tightly. Dealing with Auctioneers/Estate Agents in Ireland is like the wild west in comparison. Time and time again we see "errors" in listings that always make the properties seem more valuable. Accidentally adding bathrooms or bedrooms. Dishonest measurements.....really all sorts of things.

Sebastian Dangerfield

Has anyone noticed a significant drop in properties hitting Daft and MyHome over the last two weeks? I had been steadily getting 2-3 per day for the last couple of months under my search parameters. I expected more to come up since viewings were allowed to re-commence, but the tap seems to have been turned off altogether. A tiny sample size I know, just seems odd.

Completely separate topic; does anyone have experience of a closing date on the longer side of normal? We have just gone sale agreed on our own house. I explained to the EA that we would need a little time to try to find our own place, but didn't want to push whatever the norm is too far. He told us 2-3 months would be normal, and confirmed with the buyer that he could be flexible. However our solicitor thinks that anything beyond end July would be pushing it - and contracts haven't even been issued yet. I'm not saying either is right or wrong; our first purchase was as straightforward as it gets so it wasn't an issue.

Mad_maxx

Sue de Nimes wrote: »

Moving back to Ireland after 20 years in the UK, my wife and I see huge differences in the house buying process. One thing we have seen is the difference in regulation. I don't think UK estate agents are any more trustworthy, but they are regulated very tightly. Dealing with Auctioneers/Estate Agents in Ireland is like the wild west in comparison. Time and time again we see "errors" in listings that always make the properties seem more valuable. Accidentally adding bathrooms or bedrooms. Dishonest measurements.....really all sorts of things.

there are plenty of honourable estate agents out there but there is no doubt the cowboys face little threat of sanction

Shelga

Sebastian Dangerfield wrote: »

Completely separate topic; does anyone have experience of a closing date on the longer side of normal? We have just gone sale agreed on our own house. I explained to the EA that we would need a little time to try to find our own place, but didn't want to push whatever the norm is too far. He told us 2-3 months would be normal, and confirmed with the buyer that he could be flexible. However our solicitor thinks that anything beyond end July would be pushing it - and contracts haven't even been issued yet. I'm not saying either is right or wrong; our first purchase was as straightforward as it gets so it wasn't an issue.

I'm in the same position but on the other side- I'm the buyer. Part of the reason the seller has sold to me is that I said I'm willing to wait a fair bit longer for her to buy a place. Went sale agreed over a week ago and I'm unsure what to do now, I've never gotten to this stage before! It has been suggested to me by friends that I should aim to get contracts signed, so that I can take possession by a certain date and get it all done and dusted, but let her continue living there and charge rent if necessary, if she needs another few weeks.

I think this seems reasonable but not sure how to suggest this. As a buyer, I really want to get contracts signed, and I understand there has to be a closing date on them. My fear is that I will be strung along for weeks and then she may choose to pull out anyway.

JohnK

Sebastian Dangerfield wrote: »

Has anyone noticed a significant drop in properties hitting Daft and MyHome over the last two weeks? I had been steadily getting 2-3 per day for the last couple of months under my search parameters. I expected more to come up since viewings were allowed to re-commence, but the tap seems to have been turned off altogether. A tiny sample size I know, just seems odd.

Yeah saw loads a month or so back but the last 2 or 3 weeks has very little showing up

Sebastian Dangerfield

Shelga wrote: »

I'm in the same position but on the other side- I'm the buyer. Part of the reason the seller has sold to me is that I said I'm willing to wait a fair bit longer for her to buy a place. Went sale agreed over a week ago and I'm unsure what to do now, I've never gotten to this stage before! It has been suggested to me by friends that I should aim to get contracts signed, so that I can take possession by a certain date and get it all done and dusted, but let her continue living there and charge rent if necessary, if she needs another few weeks.

I think this seems reasonable but not sure how to suggest this. As a buyer, I really want to get contracts signed, and I understand there has to be a closing date on them. My fear is that I will be strung along for weeks and then she may choose to pull out anyway.

As a seller I would be perfectly fine with paying rent for a short period, if the buyer was amenable. I understand they want to close quickly, perhaps so as not to have to go back to their bank for another approval. However I have read in other places of concerns around entering into some form of tenancy arrangement before you ever fully take possession.

optogirl

JohnK wrote: »

Yeah saw loads a month or so back but the last 2 or 3 weeks has very little showing up

Very little available at the moment. I am so p*ssed off at the moment having just been outbid on the 7th house we've gone for in the past 8 months. AIP due to run out soon and need to start application from scratch (Rebuilding Ireland Home Loan) which is an arduous and stressful process in itself....all to be awarded maximum of 288k which is simply not enough to buy in Dublin. :mad: