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

fin12

https://www.boards.ie/discussion/comment/121487739#Comment_121487739

Thanks, The thing about this is , the fresh start principle was brought in by the central bank so shouldn’t all banks be offering it. I asked my bank and they couldn’t give me a straight answer. Also I was told by the local authority loan helpline and citizens information that you cannot get a loan from them and get the first home scheme which also accepts fresh start applicants so fresh start applicants have to be getting mortgages outside the councils to get the first home scheme.

Cork2021

Hi I’m back again.

my wife and i were given a proposal from our purchasers (we officially haven’t pulled out) landlord over the past week. To sell our home to our purchasers and take over their lease whilst we look for a home or to buy that home it’s self.

it’s a fine house 2900sq feet only built in 2007. Needs cosmetic work and a leak fixed from a shower upstairs and you know yourself, might change some flooring, tiling, paint/ change units in the kitchen.

they bought it for €430k in 2007…..

offering to us at €410k as is!

what do people think?

we’d be in an excellent position to buy a house as we’d have the deposits etc ready and or save more to get the issues fixed in that house once purchased

Leg End Reject

https://www.boards.ie/discussion/comment/121505393#Comment_121505393

I'd be asking what's wrong with it. Why would anyone sell a house like that in a seller's market when putting it up for a bidding war would likely get a greater price?

2007 was the end of the Celtic Tiger years when houses were thrown up with little regard to building standards.

Cork2021

Nothing at all wrong with it. Very well built. One of my friends is the tenant and is buying my house.

the owner moved to the US for work and won’t be coming back.

Leg End Reject

https://www.boards.ie/discussion/comment/121505732#Comment_121505732

It sounds like a great offer then if you're happy with the house and the location.

Cork2021

https://www.boards.ie/discussion/comment/121505736#Comment_121505736

My wife has reservations about the rent part but I think it’s a great thing, your secure as the owner isn’t in a rush to sell and if something else comes up, the mortgage process is easy! No debt, loads of repayment capacity m, deposits ready etc.!

Leg End Reject

https://www.boards.ie/discussion/comment/121505761#Comment_121505761

I get the rent issue, if you decide to rent this house rather than buy it you don't know how long it will take to find a house to buy, or what will happen to prices during that period.

I'm naturally cautious so I'd stay put unless I was going to buy the house.

SharkMX

Lots of people moved out of houses they owned to rent and take their time buying. It worked out for some but i still know a few where the prices ran away on them and they ended up buying a worse house than they originally sold for the same or more money.

Be careful

RichardAnd

https://www.boards.ie/discussion/comment/121509231#Comment_121509231

There was a story here a few months ago of a couple who tried to short the housing market back when there was some talk of a slow-down in 2022. They sold their house and started renting with the assumption that they could buy a bigger house for the same money or less. If the story is true, it's a monstrously reckless thing to do.

FledNanders

https://www.boards.ie/discussion/comment/121509251#Comment_121509251

We were advised to do this by an estate agent in 2020 as he assumed there would be a property crash caused by Covid.

Thankfully, we did not take his advice.

RichardAnd

https://www.boards.ie/discussion/comment/121509264#Comment_121509264

In fairness to him, I think we all though that that was going to happen...

blowintothewest

https://www.boards.ie/discussion/comment/121509312#Comment_121509312

There's a saying I like for this. The market can stay irrational longer than you can stay solvent.

normjennings

After almost two years of lurking on this thread we've finally been told our house will be ready in January! Thanks to everyone that's posted as the information here has been a huge help.

If anyone has recommendations for a snagger in north county Dublin it'd be appreciated.

Rachel31

Hi my parents home for sale in Crumlin I seen a post on here someone asking about the area in cuddle sac PM me and I will gladly help 💗

joebert80

If you are selling an apartment and your solicitor requests the MUD pack from the managing agent, is your solicitor obliged to furnish the MUD pack to you if you were you to ask for a copy of it? I'm interested to see whats in it after years of difficulty obtaining information from the management company...

thinkabouit

Nothing for sale within our budget, in a 50km radius of us.

Utterly depressing

Murph_D

https://www.boards.ie/discussion/comment/121551858#Comment_121551858

I would think if it's being requested on your behalf (in order to determine conditions and to apportion to the buyer any fees paid in advance by you), why wouldn't the solicitor show it to you, so you could confirm it accurately reflects management fees paid by you for example? It's not a secret document. Then again, you might be disappointed at the level of information it actually contains.

Cinderella2000

1st time poster- long time lurker 👋

Found this thread so helpful so far. The reality reflected is so beneficial to those starting out. Loved seeing people's timelines from sale agreed to keys, even if the data was older.

We are 1st time buyers, trying to get out of private rental with 2 kids in tow, finally sale agreed shortly before Christmas on our "forever home"- we hope!!! House is vacant. We are very organised so here's hoping vendor is keen for quick sale also and all goes to plan.

We are West of Ireland, large town. Our thoughts on the process so far:

1. Interest rate hikes took a sledge hammer to our approval figure. Took that one on the chin and cut our cloth to measure, which lead to point 2.

2) There is literally, no market, the last 6-9months. It is locked. I've been watching it for 2 years in anticipation of finally being ready to buy. We've met every EA in the area all saying they've never seen it this bad for stock. The demand and competition is fierce!

We were outbid on a house that went, in the end, for 70k over asking and genuinely required minimum 80/100k to bring it up to most peoples expectations for a family home. The location of this house drove the price, not the house.

4 bed semis that would have been 225/250 2 years ago are now going for 320+. Larger, detached, on half acre site edge of town type are very very few & far between. These home owners don't seem to be trading up/down at all. ( Would love to hear this homeowners reasons for this, interest rates? Lack of places to move to? )

And if the above type of houses are going up, the price is just wild (achieved, but absolutely insane money).

Happy to log how long our process takes (fingers crossed we get it over the line!) for all those coming behind us through 2024.

Anyone bought/sold in last 3/6 months? How long was it start to finish?

Rachel31

Hi

zergetek

We are in a very bad situation. The contract is signed by the vendors and us and my solicitor got the loan money from the bank but one of the vendors refused to move out from the property. Right now we are paying the rent and the mortgage in the same time which is just crazy money. Anything we could do because our solicitor is good for nothing?

Deub

https://www.boards.ie/discussion/comment/121603321#Comment_121603321

What an awful situation to be in. How long have you been waiting? What did the solicitor say?

I would seek legal advice from another solicitor to have a second opinion.

zergetek

https://www.boards.ie/discussion/comment/121603510#Comment_121603510

We are waiting for her to move out for more than a month. Our solicitor said he could set up a notice but that gives the vendor 28 days to move out if she moves out at all.

This is it

Not to stick the boot in but why draw down for a property that's still occupied! Crazy.

FledNanders

https://www.boards.ie/discussion/comment/121604195#Comment_121604195

A property is commonly occupied up until the closing date, when funds are also exchanged. Obviously the solicitor needs to draw the money down from the bank before this date, on the assumption that the house will be vacated on or before the day you get the keys (as per the contract)

ec18

https://www.boards.ie/discussion/comment/121603542#Comment_121603542

The contract must have an exchange date. Get your solicitor to notify the vendors that unless handover has happened by that date the contract is considered void and the sale will not be going through and they will be responsible for extra costs incurred due to their delay

Royale with Cheese

Sale agreed at the end of 2023 on my third house of the year. Pulled out of the first one over insane building costs (it was a wreck), second one was supposed to be in great condition but a survey said otherwise. This one was perfect, didn't need anything major done to it and we loved it. Went sale agreed and then... nothing. 7 weeks go by and no sign of contracts, my solicitor says he can't even get a response out of the vendor's solicitor. Something is definitely up, I query it with the estate agent and we're fed some bullshít about waiting on title deeds from the bank.

The estate agent calls a couple of days ago, the couple are getting divorced (this was not disclosed to us initially) and the wife has a new solicitor and is now being advised to put the sale on hold. Bullshít, it was stall tactics from day one. We even had to wait over a week for her to accept our offer after winning a bidding war, despite being 50k over the asking price at this point, which felt very odd. We were initially told they were looking to rent somewhere so we thought they were just stalling until they'd found something suitable.

The husband apparently is desperate to sell and doesn't want to lose us as buyers, the wife clearly thinks she can take this to court and keep living in the house without him. It was never for sale, we just got used as a pawn in someone's divorce. Divorce is hard and all but that's just shítty behaviour. We've been asked to wait a month before she'll decide on whether to proceed with the sale or not, we told them they have two weeks but 99% sure of what the outcome will be already. I think I'm just about ready to curl up into a ball and die at this point.

Cinderella2000

That's a horrendous way for the sellers to act, it's the lack of honesty that's the killer. Really feel for you on that one.

That house can't go for sale/ actually sell if they're not agreed. There's legal battles ahead, between them. Absolutely used as a pawn in their spat.

If I was you, update solicitor & pull out now. No 2 weeks wait, the outcome is already known.

Clearly you're a serious buyer, you've that on your side. Go back through all the EA let them know your actively looking.

On a human level, 3 houses to fall through is so exhausting and expensive to deal with but, as we keep getting told, there's a house with your name on it, somewhere, keep going!

We viewed a house that was for sale as part of divorce agreement. He had left, she stayed with kids in it. A Headache we thought to deal with their 2 solicitors but we viewed regardless.

Turns out massive work needed, this work also meant you didn't expect a bank to approve a mortgage on it, though not definite until a buyer tried get a mortgage through. No one ever even bid on this house.

Turns out a good ?18mths later, its still for sale, he wants to do the work (split costs) to get it sold. She won't do the work because she's trying to stay in the house. They're headed back to court.

House buying in Ireland is excruciating.

dr.dundrum

there is a listed house for 550K in my neighborhood. It is listed at least 40 days. It was bought around 380K 2-3 years ago.

do you think it would be ridiculous to offer 480K which is my budget? I have never done an offer and do not want you sound crazy.

holliehobbie

https://www.boards.ie/discussion/comment/121611548#Comment_121611548

What have other houses there sold for recently? Check on the PPR.

herbalplants

https://www.boards.ie/discussion/comment/121611548#Comment_121611548

I would definitely do it if I was you, put the bid, nothing to lose.