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

Aelun

Asdaman wrote: »

If it helps anyone, I'd signed contracts and was due to drawdown next month. UB now request 2 months bank statements and a pro forma completed which asks if you've had any material change to circumstance. If yes, you need to declare it and all docs regardless of your answer then go to the underwriting team for review.

Thanks @Asdaman... Are there many questions on the form, or just the one you mentioned?

Asdaman

Aelun wrote: »

Thanks @Asdaman... Are there many questions on the form, or just the one you mentioned?

It's just that question, followed by you signing if you're happy to proceed with the application still

TheSheriff

Housebuying wrote: »

They flat out refused. Didn't even try to negotiate. We are no longer sale agreed. He said the most he has discounted houses lately is by a maximum of 5%

Golden Rule - Everything that comes from an EA's mouth and is offered to you, a buyer as any form of information is a lie, particularly when they are telling you what type of price reduction to expect. Everything an EA tells you is likely designed to extract some form of offer from you, one they think is the maximum they can currently achieve given the current market.

If they are telling you a maximum 5% discount is being achieved, it means they likely know the property could go much lower than this. They want you to make the 5% discounted offer.

Just walk away from the property mentally and there is a chance you might get a call over the next few weeks when the dust starts to settle on all this and the EA is scrambling to sell the property. Just don't wait on the call, but if it comes you are in the drivers seat.

We had initially offered ~15% under asking on a house (~500K) many months ago as the property was on the market several months already and we thought we'd chance our arm. It was clearly overpriced, but, very desirable location for us and we had seen smaller/less desirable properties in the area reach similar (per square ft) prices in bidding wars. It was rejected, no negotiation on behalf of the seller, they wanted asking (because "Mary's" across the road got it last year for hers"). We were essentially laughed at by the EA, with no consideration to the fact that "Marys" was far more modernized. We were told we weren't serious buyers - all this is mental mind games trying to get you to pony up. They eventually went sale agreed close to asking and the EA took great pride telling us he had found a serious buyer at the next viewing we met him at.

They came back to us at the start of this lockdown as the buyer had disappeared. We offered our 15% reduction again and it was rejected. They countered with ~5%. This was a "final offer" as a "favour" to us as the EA put it. I remember that night thinking, why would an EA, this random person who doesn't work for me and in fact, is tasked with achieving as high a price as possible for their client want to do me a favour;it didn't add up and its all tactics but we knew we had them at that point. There is clearly blood in the water, the seller was spooked and wanted out. Got them to reduce it >10% under asking and sale agreed now, hoping it goes through ok.

Just walk away from it, if your gut tells you its over priced it is! I know many of the houses we saw needed a seller reality check as to what their old property with single glazed windows, old carpets, random stud walls put up in living rooms (yes, we had one of these in one viewing), heaving boiler etc. is actually worth. Any property we saw in good condition at a realistic price was snapped up quickly, and good for them, they deserve it by coming to market with a realistic figure.

Hope something better comes up for you!

PommieBast

beanyb wrote: »

I am going to hang in for another couple of weeks and see what happens with the title, but I am now leaning towards pulling out. It's a pity as I would like somewhere to live, but I think there needs to be a bit of give and take on both sides in these circumstances.

Are there any other issues? Maybe I got unlucky but last time I was sale agreed on a place that had title issues, further digging by my solicitor found even bigger stinkers..

beanyb

PommieBast wrote: »

Are there any other issues? Maybe I got unlucky but last time I was sale agreed on a place that had title issues, further digging by my solicitor found even bigger stinkers..

Not that I'm aware of but we'll see! It's a leasehold rather than a freehold which would be fine but there is only 68 years left to run on the lease and banks won't lend if it's less than 70. Frustratingly close! The vendor's solicitor is trying to sort it but it could be a long process and my mortgage provider could just refuse it.

Andrea B.

TheSheriff wrote: »

Golden Rule - Everything that comes from an EA's mouth and is offered to you, a buyer as any form of information is a lie, particularly when they are telling you what type of price reduction to expect. Everything an EA tells you is likely designed to extract some form of offer from you, one they think is the maximum they can currently achieve given the current market.

If they are telling you a maximum 5% discount is being achieved, it means they likely know the property could go much lower than this. They want you to make the 5% discounted offer.

Just walk away from the property mentally and there is a chance you might get a call over the next few weeks when the dust starts to settle on all this and the EA is scrambling to sell the property. Just don't wait on the call, but if it comes you are in the drivers seat.

We had initially offered ~15% under asking on a house (~500K) many months ago as the property was on the market several months already and we thought we'd chance our arm. It was clearly overpriced, but, very desirable location for us and we had seen smaller/less desirable properties in the area reach similar (per square ft) prices in bidding wars. It was rejected, no negotiation on behalf of the seller, they wanted asking (because "Mary's" across the road got it last year for hers"). We were essentially laughed at by the EA, with no consideration to the fact that "Marys" was far more modernized. We were told we weren't serious buyers - all this is mental mind games trying to get you to pony up. They eventually went sale agreed close to asking and the EA took great pride telling us he had found a serious buyer at the next viewing we met him at.

They came back to us at the start of this lockdown as the buyer had disappeared. We offered our 15% reduction again and it was rejected. They countered with ~5%. This was a "final offer" as a "favour" to us as the EA put it. I remember that night thinking, why would an EA, this random person who doesn't work for me and in fact, is tasked with achieving as high a price as possible for their client want to do me a favour;it didn't add up and its all tactics but we knew we had them at that point. There is clearly blood in the water, the seller was spooked and wanted out. Got them to reduce it >10% under asking and sale agreed now, hoping it goes through ok.

Just walk away from it, if your gut tells you its over priced it is! I know many of the houses we saw needed a seller reality check as to what their old property with single glazed windows, old carpets, random stud walls put up in living rooms (yes, we had one of these in one viewing), heaving boiler etc. is actually worth. Any property we saw in good condition at a realistic price was snapped up quickly, and good for them, they deserve it by coming to market with a realistic figure.

Hope something better comes up for you!

Excellent post and very true, but sadly bias is a bastard to recognise.

TomTanks

So over the last couple of days;

One poster was given advice from solicitor that he should be ok on covid payment at drawdown, another posters aib mortgage advisor assured them they would be ok too.

A couple of posters drawing down with PTSB had been declined or have had issues. However one poster I think was allowed to drawdown and all went well, these again all involving covid payments.

Lots of mixed messages! Very frustrating time all round.

Graham

TheSheriff wrote: »

Golden Rule - Everything that comes from an EA's mouth and is offered to you, a buyer as any form of information is a lie

Mod Note

please read the forum charter before posting in A & P again.

Do not reply to this post.

JimmiesRustled

TomTanks wrote: »

So over the last couple of days;

One poster was given advice from solicitor that he should be ok on covid payment at drawdown, another posters aib mortgage advisor assured them they would be ok too.

A couple of posters drawing down with PTSB had been declined or have had issues. However one poster I think was allowed to drawdown and all went well, these again all involving covid payments.

Lots of mixed messages! Very frustrating time all round.

We've been advised that it's all on a case by case basis. Certain professions availing of the subsidy may be at more risk of closing than others. That's at least the advice we've gotten from our solicitor and UB.

TomTanks

That would make sense at least theres some reasoning behind it, if only we could see that list!

PommieBast

beanyb wrote: »

Not that I'm aware of but we'll see! It's a leasehold rather than a freehold which would be fine but there is only 68 years left to run on the lease and banks won't lend if it's less than 70. Frustratingly close! The vendor's solicitor is trying to sort it but it could be a long process and my mortgage provider could just refuse it.

Deja-vu here


In my case on top of being leasehold (despite what estate agent claimed during viewing) and title problems, there were irregularities with the planning permission certification. And taking charge of roads/services had never been done by the local authority. Problems never seem to come in isolation.

Pivot Eoin

TomTanks wrote: »

That would make sense at least theres some reasoning behind it, if only we could see that list!

It could make sense.

I'm in a particularly frustrating point. I work in Travel! Sounds all doom and gloom, but I actually work in one of the only sub-sectors in travel that will actually have an INCREASE in demand over the next few years. We sell Domestic Holidays which are due to surge as they did in 2009, without the threat of a virus spread by Air Travel.

But I've been blanket refused because of being in Travel Sector, at a time where business is about to boom. The bast**ds!

Tallback

TomTanks wrote: »

So over the last couple of days;

One poster was given advice from solicitor that he should be ok on covid payment at drawdown, another posters aib mortgage advisor assured them they would be ok too.

A couple of posters drawing down with PTSB had been declined or have had issues. However one poster I think was allowed to drawdown and all went well, these again all involving covid payments.

Lots of mixed messages! Very frustrating time all round.

We're Sale agreed and currently (at tedious length) winding our way towards closure.

Broker told me during the week that PTSB are not looking for any particular documentation re Covid at drawdown for what its worth

beanyb

PommieBast wrote: »

Deja-vu here


In my case on top of being leasehold (despite what estate agent claimed during viewing) and title problems, there were irregularities with the planning permission certification. And taking charge of roads/services had never been done by the local authority. Problems never seem to come in isolation.

Yikes. It's definitely possible there could be more issues. Gonna hang on in there for now and see what happens over the next few weeks.

Greentree_uk

Pivot Eoin wrote: »

It could make sense.

I'm in a particularly frustrating point. I work in Travel! Sounds all doom and gloom, but I actually work in one of the only sub-sectors in travel that will actually have an INCREASE in demand over the next few years. We sell Domestic Holidays which are due to surge as they did in 2009, without the threat of a virus spread by Air Travel.

But I've been blanket refused because of being in Travel Sector, at a time where business is about to boom. The bast**ds!

Thats just crap, anyone would think they are actually paying the mortgage!

jrosen

I know this is slightly off topic, but anyone who did manage to close and draw down where are you with having floors and carpets fitted? I expected them to have the green light from Monday. Our fitters expected the same. But im not sure now based on some answers that were given at the press conference.

DaraDali

Quick Question:

Just about to sign contracts

So our engineer report flagged that the sewer line runs out the back of the house into the neighbours then connects to the main sewer. But on the folio it shows the sewer line out the front of the house. There is no sewer line shown on the back or there is no Wayleave to the rear sewer line.

What would normally happen here ? We are ready to sign but worried this could slow things down.

ittakestwo

DaraDali wrote: »

Quick Question:

Just about to sign contracts

So our engineer report flagged that the sewer line runs out the back of the house into the neighbours then connects to the main sewer. But on the folio it shows the sewer line out the front of the house. There is no sewer line shown on the back or there is no Wayleave to the rear sewer line.

What would normally happen here ? We are ready to sign but worried this could slow things down.

How old is the house? Urban or rural location.

A lot of houses don't mention anything about drainage on their deeds. I would ask solicitor about it tho.

guyfawkes5

Housebuying wrote: »

They flat out refused. Didn't even try to negotiate. We are no longer sale agreed. He said the most he has discounted houses lately is by a maximum of 5%

Not to pile on here, but I just agreed a reduction of 3% for an apartment I was sale agreed.

0gac3yjefb5sv7

guyfawkes5 wrote: »

Not to pile on here, but I just agreed a reduction of 3% for an apartment I was sale agreed.

Could I ask what area of Dublin if it was and price bracket?

guyfawkes5

Dublin 8 and €300-350k.

lfen

Asdaman wrote: »

If it helps anyone, I'd signed contracts and was due to drawdown next month. UB now request 2 months bank statements and a pro forma completed which asks if you've had any material change to circumstance. If yes, you need to declare it and all docs regardless of your answer then go to the underwriting team for review.

V similar situation. Full approval from UB, they requested 2 months statement & self declaration as we requested drawdown. Waiting to hear back. Let me know how you get on if you don’t mind?

DaveyDave

jrosen wrote: »

I know this is slightly off topic, but anyone who did manage to close and draw down where are you with having floors and carpets fitted? I expected them to have the green light from Monday. Our fitters expected the same. But im not sure now based on some answers that were given at the press conference.

Surprisingly, getting stuff delivered and installed has been a pretty painless process considering the lockdown. I got my floors fit two weeks ago. Owner only went ahead with it as it's a new build and I already paid a deposit. They weren't taking on new customers.

Got my internet installed the Friday, TV/washer/dryer delivered the Saturday, blinds measured and fit this week. IKEA delivery this week.

Only thing I haven't managed to get is an alarm. No company has gotten back to me, apparently they're resuming mid June.

Most of these places are probably breaking the rules but I'm not going to argue with people being safe and willing to work putting things like floors or utilities into people's new homes when there's people out there delivering pints and that's ok...

jrosen

DaveyDave wrote: »

Surprisingly, getting stuff delivered and installed has been a pretty painless process considering the lockdown. I got my floors fit two weeks ago. Owner only went ahead with it as it's a new build and I already paid a deposit. They weren't taking on new customers.

Got my internet installed the Friday, TV/washer/dryer delivered the Saturday, blinds measured and fit this week. IKEA delivery this week.

Only thing I haven't managed to get is an alarm. No company has gotten back to me, apparently they're resuming mid June.

Most of these places are probably breaking the rules but I'm not going to argue with people being safe and willing to work putting things like floors or utilities into people's new homes when there's people out there delivering pints and that's ok...

New build here too and we couldnt get any floors fitted. Looks like next week which is a relief. Good your managing to get stuff done.

Pivot Eoin

DaveyDave wrote: »

Surprisingly, getting stuff delivered and installed has been a pretty painless process considering the lockdown. I got my floors fit two weeks ago. Owner only went ahead with it as it's a new build and I already paid a deposit. They weren't taking on new customers.

Got my internet installed the Friday, TV/washer/dryer delivered the Saturday, blinds measured and fit this week. IKEA delivery this week.

Only thing I haven't managed to get is an alarm. No company has gotten back to me, apparently they're resuming mid June.

Most of these places are probably breaking the rules but I'm not going to argue with people being safe and willing to work putting things like floors or utilities into people's new homes when there's people out there delivering pints and that's ok...

Wondering if you could give us an idea at the cost of all this finishing work?

Considering a new build myself and just wanna factor it in. 125 sqm 3 Bed or 150 sq M 4 bed

Captainsatnav

jrosen wrote: »

New build here too and we couldnt get any floors fitted. Looks like next week which is a relief. Good your managing to get stuff done.

Indoor construction work is not allowed from Monday. Only outdoor conduction work where all workers remain 2m apart.

jrosen

Captainsatnav wrote: »

Indoor construction work is not allowed from Monday. Only outdoor conduction work where all workers remain 2m apart.

We have had confirmation this morning that we can have the floors and carpets fit next week. So time shall tell.

DaveyDave

Pivot Eoin wrote: »

Wondering if you could give us an idea at the cost of all this finishing work?

Considering a new build myself and just wanna factor it in. 125 sqm 3 Bed or 150 sq M 4 bed

House had tiled bathrooms already so that cut down on cost a little. House is 112m 3 bed. Went with 12mm AC5 rated wooden floor for the living room, upstairs bedrooms and landing. 70oz carpet on the stairs and a travertine style tile (€25m2) in the kitchen, utility room, hallway and coat room along with a white gloss metro tile (€18m2) for kitchen and downstairs toilet splashback. Cost for the floors including sealing uneven areas and shaving the bottom of some doors was €5,350. Very happy with the floors, they're put in very well. No shortcuts taken on the trickier corners. Only issue was when the skirting boards were put back the seemed to go overboard with extra nails. We ended up with approx €125 of tile left over surprisingly.

Blackout roller blinds for large front window, rear kitchen window, 4 bedroom windows and vertical blind for French doors were €750 fitted. Didn't need to do the two bathroom windows or the hallway as they're at the side of the house.

We went with a smaller floor company rather than the usual Carpet Right type as we heard nothing but bad things from people who spent a lot more money than we did.

We had the budget to spend a more but didn't need to because we were able to get decent quality stuff at fair prices.

Pivot Eoin

DaveyDave wrote: »

House had tiled bathrooms already so that cut down on cost a little. House is 112m 3 bed. Went with 12mm AC5 rated wooden floor for the living room, upstairs bedrooms and landing. 70oz carpet on the stairs and a travertine style tile (€25m2) in the kitchen, utility room, hallway and coat room along with a white gloss metro tile (€18m2) for kitchen and downstairs toilet splashback. Cost for the floors including sealing uneven areas and shaving the bottom of some doors was €5,350. Very happy with the floors, they're put in very well. No shortcuts taken on the trickier corners. Only issue was when the skirting boards were put back the seemed to go overboard with extra nails. We ended up with approx €125 of tile left over surprisingly.

Blackout roller blinds for large front window, rear kitchen window, 4 bedroom windows and vertical blind for French doors were €750 fitted. Didn't need to do the two bathroom windows or the hallway as they're at the side of the house.

We went with a smaller floor company rather than the usual Carpet Right type as we heard nothing but bad things from people who spent a lot more money than we did.

We had the budget to spend a more but didn't need to because we were able to get decent quality stuff at fair prices.

Class Mate, sounds like you're well happy anyway. Feel free to drop the name of the floor company here if you're happy to recommend publicly, or PM to me if not publicly. Thanks, enjoy your new home!

jrosen

DaveyDave wrote: »

House had tiled bathrooms already so that cut down on cost a little. House is 112m 3 bed. Went with 12mm AC5 rated wooden floor for the living room, upstairs bedrooms and landing. 70oz carpet on the stairs and a travertine style tile (€25m2) in the kitchen, utility room, hallway and coat room along with a white gloss metro tile (€18m2) for kitchen and downstairs toilet splashback. Cost for the floors including sealing uneven areas and shaving the bottom of some doors was €5,350. Very happy with the floors, they're put in very well. No shortcuts taken on the trickier corners. Only issue was when the skirting boards were put back the seemed to go overboard with extra nails. We ended up with approx €125 of tile left over surprisingly.

Blackout roller blinds for large front window, rear kitchen window, 4 bedroom windows and vertical blind for French doors were €750 fitted. Didn't need to do the two bathroom windows or the hallway as they're at the side of the house.

We went with a smaller floor company rather than the usual Carpet Right type as we heard nothing but bad things from people who spent a lot more money than we did.

We had the budget to spend a more but didn't need to because we were able to get decent quality stuff at fair prices.

Did the same company do your tiles?