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

optogirl

I just don't get why the government can't put a temporary ban on investment funds buying family homes - how can we possibly compete? It's so hopeless at the moment.

HerrKapitan

Anyone have an idea of how much extra is added on to the final price of new-builds on completion? Due to the rise in costs during construction.

A lot of new developments are delayed until May. I wonder are builders holding out so they can add increased costs as prices rise a couple of months more.

bilbot79

https://www.boards.ie/discussion/comment/118661542#Comment_118661542

I don't think this happens. Never heard of it.

bigboss1986

Hi all.We are sale agreed for some time and I had few minutes spare today to chceck house insurance quotes.I have tenants contents insurance for 10+y and never had any claims.

When I went online few sites would not have our lender (ICS) listed at all.

Does anyone have mortgage with isc and where did you take house insurance.Thanks

Emma2019

You can get house insurance with whoever you want. It's not connected to your lender. My mortgage is with PTSB and I got house insurance with AIB. You just have to show the certificate for drawdown.

houseyhouse

https://www.boards.ie/discussion/comment/118662573#Comment_118662573

We have ours with Liberty. ICS is also called Dilosk so maybe they have them listed under that name? Would be very strange if they just didn’t deal with them at all.

HerrKapitan

https://www.boards.ie/discussion/comment/118661608#Comment_118661608

Maybe it's just a new thing. It's in our contract. I probably should have questioned it more, as basically it's like buying a house without knowing the price. Hopefully it's a fair addition and not astronomical.

Ciara26

Can I ask where your buying? I just bought and checking my contract. I don’t think it’s in mine.

Emma2019

https://www.boards.ie/discussion/comment/118663908#Comment_118663908

A lot of builders did this last year but final contracts hadnt been signed. I'd check with your solicitor if your contracts have been signed and returned.

HerrKapitan

https://www.boards.ie/discussion/comment/118663935#Comment_118663935

https://www.boards.ie/discussion/comment/118665422#Comment_118665422

Buying in Rathdrum. Contracts signed and returned.

This is the wording; under the heading 'Price Variation'.

"The contract price shall be adjusted by the amount of any increase or decrease in the cost to the contractor of performing this agreement due to any alteration after the date of this agreement in the rate of VAT."

houseyhouse

https://www.boards.ie/discussion/comment/118665647#Comment_118665647

Surely this only relates to changes in the VAT rate not increases in building costs.

jc84

Buying a new build in Cork and the contract had price variation on construction materials included. Our solicitor had that removed.

Ciara26

Just checked my contract , it’s not there. Very strange.

Shelga

Single first time buyer and signing contracts tomorrow- I actually can't believe it! I still won't believe it until I have keys in my hand- I've been burned once too many times!

Fingers crossed that this absolutely horrific process is nearly at an end for me...

Bannasidhe

https://www.boards.ie/discussion/comment/118662573#Comment_118662573

Friend just completed sale with mortgage from ICS.

She got buildings and contents insurance via either 123 or chill - underwriter RSA.

She clicked 'ICS' in the dropdown but it turned out that was the old building society not the Dilosk owned lender. It did delay drawdown for a day or two until she could get the policy docs changed. Ended up on hold to an hour after emails produced no results but it was sorted with 10 minutes of phone finally being answered.

Bannasidhe

https://www.boards.ie/discussion/comment/118661608#Comment_118661608

It certainly used to happen in the Celtic Tiger days.

My house was a much delayed new build and by the time it was completed all the prices went up by 20-30k.

I was haunted as my sister knew the builder so I got it for the original as agreed overpriced. But people who bought 2 bedroom ended up paying close to I paid for a 3 bed.

Ciara26

https://www.boards.ie/discussion/comment/118667238#Comment_118667238

I’m the same, never thought as a single person I’d be able to get a house. Until the keys are given, I won’t believe it. Keep doing what if scenarios!!

Shelga

https://www.boards.ie/discussion/comment/118667599#Comment_118667599

Sure enough, I've immediately encountered a barrier in trying to get home insurance, as house is in a flood plain... it's just one thing after another...

AnnieinDundrum

https://www.boards.ie/discussion/comment/118644721#Comment_118644721

Unfortunately the place we wanted to buy went to a cash buyer, someone who had sold and was renting..meanwhile our EA is under pressure from a would-be buyer for ours.

with rents being so high, if we could find a place, we’d be wasting a fortune if we sold and rented until we found something to buy.

I have seen 3 places I’d like in 12 months and 2 went to cash buyers. Not sure there’s a way out of this.

Angelica24

Really sorry to hear that. It is brutal out there at the moment. I didn't find it to be an issue competing with cash buyers but it could have been luck but I did have sellers reluctant to accept my bid until I reassured them that we were sale agreed and contracts could be signed ASAP and everything is in order which was the case and that worked for them.

I came under a lot of pressure from the purchasers' solicitor to sign contacts and they said they would agree a long closing time (didn't believe them though) and thought about just selling it and renting or staying with family but you're right about it being too dear even if we could find somewhere.

It just seems impossible to trade up at the moment and it's ridiculous we can't move til we're sale agreed but then once we go sale agree the clock is ticking and prices are going up for us but the purchase price of our house is static. Think I'll be giving up and putting up with our small house for the next while.

J_1980

https://www.boards.ie/discussion/comment/118649154#Comment_118649154

There is already a ban on houses. They can only buy apartments in bulk.

miamee

https://www.boards.ie/discussion/comment/118598848#Comment_118598848

Well it was 12 weeks and 2 days in the end which included the Christmas break, not too bad I reckon.

bigboss1986

https://www.boards.ie/discussion/comment/118667393#Comment_118667393

Thanks.Before im going online to check for quotes does anyone know do I have to have closing date in order to get insurance?Or I can set up home insurance with future date and amend it?

Sorry for these questions but I work unsocial hours and its difficult for me to be on hold for 30min with every insurance company .

https://www.boards.ie/discussion/comment/118675723#Comment_118675723

Get it in place and ticked off and with your bank with an optimistic close date. Maybe you end up paying a month or two insurance that you don’t need, if the close is delayed, but better that than messing around trying to get it lined up at the 11th hour with the exact closing date. IMO, the more you get ticked off early the better

Dodge

https://www.boards.ie/discussion/comment/118675723#Comment_118675723

Contact a broker (by email if you want) and explain the situation. They’ll do most of the work for you so you don’t have to spend 30 mins on phone to anyone

miamee

https://www.boards.ie/discussion/comment/118675723#Comment_118675723

We were able to set it up in advance to start the day before the expected closing date. When the closing date moved, we were able to puch out the start date of the policy. We didn't bother for the second time it was pushed as it was just a week and the insurance company (Zurich) told us it was easier to get a new quote for the new date, call them to give them the quote then they would transfer the annual payment we'd already made to this new policy. It also meant that the documentation for the bank with them listed as an interested party was reissued and had to be resubmittted to them, hence why I dodn't bother second time around so as not to hold anything up with the bank.

sadgilmore

Hi everyone, finally at point of exchange contract hopefully tomorrow. Optimistic that it will complete early May (a new build)

I'm looking for recommendations in Meath area for snaggers. Want to try get everything ready so I can go as soon as possible.

Does anyone have any recommendations or maybe more importantly snag company to avoid?

kev_s88

we got our contracts issued to us on Friday and couldn't be happier. will still be a couple of weeks til we can get them signed and returned. We only got our mortgage re-approved last week after original approval had lapsed. now we need to go straight to loan offer and organising our mortgage protection etc before we get the contracts signed.

Developer is optimistic that house will be ready late April/early May. I'm still expecting late June/early July. but i can deal with that 😅

AnnieinDundrum

https://www.boards.ie/discussion/comment/118673437#Comment_118673437

We are actually trying to downsize! So lots of people looking for a decent sized family home, near schools etc like ours, but finding us a smaller place closer to city centre seems to be impossible. We no longer have a mortgage so we would rather not rent while leaving cash earning nothing in the bank but it would make us more flexible. Meanwhile any potential buyers for our house are very keen to get a deal and a date.

Hogzy

How long is sort of normal to have to wait around for title deeds/contracts from the vendor?

Story: Went sale agreed 3 weeks ago and were still waiting on the contracts. Asked the EA what the hold up was and they said theyre waiting on the title deeds to be delivered to the vendors solicitor. The house is only 20yrs old so I dont know how tough it could possibly be to locate the title deeds. Seems a bit odd or am I being too cynical?