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

Alrigghtythen

lisabiscuit wrote: »

The seller finally finally signed the contracts yesterday! Four weeks after we signed ours. And now our solicitor is on holiday next week so it will be at least after the bank holiday before anything else happens! Aaaagh!!
Anyway, just glad they finally signed I guess but why they big wait!?

My theory on why it takes so long is someone, somewhere is making money off the deposit money. It's in their interests to spin it out for as long a possible.

ebayissues

Alrigghtythen wrote: »

My theory on why it takes so long is someone, somewhere is making money off the deposit money. It's in their interests to spin it out for as long a possible.

How? Is deposit not made to Estate agent??

Ubbquittious

Alrigghtythen wrote: »

My theory on why it takes so long is someone, somewhere is making money off the deposit money. It's in their interests to spin it out for as long a possible.

They make feck all on it. I get a couple of quid a year for an account that has over 30k in it

Queenio

mojesius wrote: »

I have a question regarding Boardsies house buying experiences and timelines.

We have written AIP, gone sale agreed last week, initial deposit paid. Buying a vacant house and we are FTBs so there is no chain.
Survey & valuation done, mortgage protection/life insurance done. Broker is getting formal approval from bank, which we should have next week (all going well).

Just waiting for the legal stuff to start, vendor's solicitor has to send the contract to our solicitor. How long usually does the legal process take? We'd like to close by end of August if possible. Is this completely unrealistic? From reading threads on here, the advice is to keep pushing solicitor, which we intend to do

I'm in exactly the same position. Have had the structural survey and valuation carried out today. I've been really pushy with my broker and solicitor and they have communicated my desire to have a fast sale pushed through ASAP. Both have told me realistically it could be 4 weeks to closing. That's if there are no delays on the vendors side or issues uncovered with the survey /title /boundaries etc. This is an executor sale and on the market a year so I'm hopeful it can happen very quickly

Best of luck and congrats on going sale agreed! Stressful process. Won't be relaxed until it's over

mojesius

Thanks and massive Congrats to you as well on your purchase! I'll be climbing the walls if the vendor takes long to sign etc, the entire process is so nail biting

I don't think there will be any major issues to slow things down as surveyor gave the all clear but I know from family members' experiences with solicitors on both sides that there always tends to be some hold up. I just want the keys in my hand!

Will Yam

mojesius wrote: »

I have a question regarding Boardsies house buying experiences and timelines.

We have written AIP, gone sale agreed last week, initial deposit paid. Buying a vacant house and we are FTBs so there is no chain.
Survey & valuation done, mortgage protection/life insurance done. Broker is getting formal approval from bank, which we should have next week (all going well).

Just waiting for the legal stuff to start, vendor's solicitor has to send the contract to our solicitor. How long usually does the legal process take? We'd like to close by end of August if possible. Is this completely unrealistic? From reading threads on here, the advice is to keep pushing solicitor, which we intend to do

I think your only option may be to keep putting the pressure on the solicitor.

How long does it take - how long is a piece of string?

I bought a house some years ago from a solicitor - the deal was done in jig time (he was doing it himself).

On the other hand I came close to buying a house in February of this year. Although I could prove I had the necessary funds, some of them were tied up in a bond which didn’t mature until later in the year (I could have cashed it in early but with a penalty).

I was in no hurry to move, so I discussed it with my solicitor. His view was very simple - we will stall the deal through all sorts of queries until the bond matures.

It was all irrelevant as I didn’t get to buy it.

But it demonstrates what can be going on behind the scenes. One possible way round it is to make a closing date a condition of the price you are paying with a penalty for delay.

lfen

woodchuck wrote: »

Thanks a million guys. Yeah I think we just need to talk to the management company and see what they say I was afraid we might be shooting ourselves in the foot somehow by potentially engaging with them too soon, but hopefully an informal chat will help.

Also when we do hand in our notice, I know it's meant to be "in writing". Does anyone know if this has to be an actual hard copy letter put in the post? Or would a scanned signed letter sent as an email attachment count? Not sure I'd trust the management company to answer this one in case they tell us by phone that a soft copy is ok, but then when it comes to the crunch they could tell us that the notice wasn't valid as it wasn't in hard copy.

We gave notice this week as we are collecting keys this Friday. We assumed the notice period was 1 month but it’s 84 days! Management company advised that we have the option of assigning our tenancy to someone else. Fancy way of saying we have to find new tenants & do all the work involved ie collect references etc. The plus is we control the move in/out date. I’d imagine they will give you that option. There’s a template on the RTB website to fill in when giving notice.

Graham

Cutie_mcfruity wrote: »

Hi. I’m in the same situation except we’re buying a house. Partner getting the subsidy but working his normal hours! UB won’t let us drawdown and we’ve everything else in place, we were due to close on May 29th!
I’ve gone to several brokers and called different lenders myself, all coming back with the same thing that he has to show one payslip off the subsidy.
His employer has said they can’t take him off it even just for the sake of one month!!
I’m really up the walls with it all. I’ve gone to my local TD not that he will do much but I can’t take this laying down.
It’s just madness how they can allow this to go on, especially with talk of it being extended into next year. I honestly dunno what to do

Unfortunately I really don't think there's anything you can do in this situation other than wait it out.

My understanding is an employer can't take a single employee off the subsidy, it's all employees in the company or none. ***

I don't think any of the banks are showing signs of shifting their position in the current market.

Added

*** See post below, it looks like my understanding is wrong

PaybackPayroll

Graham wrote: »

My understanding is an employer can't take a single employee off the subsidy, it's all employees in the company or none.

I do not believe that is the case.
Many companies have a mix of employees that are not eligible and those that are.

We also have cases where an employee may get the subsidy one week, not the next but be back on it again the following week.

into_the_wild

Hey guys. I went for a house viewing recently but turned out that there was no electricity and the kitchen, bathrooms etc needed some renovation. When I asked the EA about it, they said the house is owned by the bank as the previous owners had to evicted out hence the condition of the house and no electricity.
That kinda scares me as I'm a first time buyer and I have no clue about such legal complications etc. Has anyone else found themselves in a similar situation? I guess all I'm trying to ascertain is if I should continue with this bid or if this is something to be worried about?

PommieBast

into_the_wild wrote: »

Hey guys. I went for a house viewing recently but turned out that there was no electricity and the kitchen, bathrooms etc needed some renovation. When I asked the EA about it, they said the house is owned by the bank as the previous owners had to evicted out hence the condition of the house and no electricity.
That kinda scares me as I'm a first time buyer and I have no clue about such legal complications etc. Has anyone else found themselves in a similar situation?

Sounds like a receivership sale. These have the nasty combination of having to do serious due-diligence coupled with the receiver basically refusing to tell you anything. Unless you are getting a huge mark-down consider walking away now.

lawrencesummers

into_the_wild wrote: »

Hey guys. I went for a house viewing recently but turned out that there was no electricity and the kitchen, bathrooms etc needed some renovation. When I asked the EA about it, they said the house is owned by the bank as the previous owners had to evicted out hence the condition of the house and no electricity.
That kinda scares me as I'm a first time buyer and I have no clue about such legal complications etc. Has anyone else found themselves in a similar situation? I guess all I'm trying to ascertain is if I should continue with this bid or if this is something to be worried about?

It could be worth sticking with, and it could be wise to run a mile from.
Get someone to estimate the cost of work involved.
If the banks are selling it they dont care as much about what they are getting for it, they just want it gone, banks dont want repossessed property,they will sell them fast.
Run it by your solicitor, and if you do proceed they will have to make sure everything is 100%.

If you can buy something like this for cheap then happy days, i know someone who bought a 2 bed apartment with parking in good condition near the 4 courts for 200k from receivers.

harvindhillon

Hi guys,

Looking for some advice here, so we closing at the moment on a property, and the funds were released last Friday 17/7. Monday my solicitor confirmed to me that the funds are in the client accounts and that she is waiting for the closing documents from the vendor's solicitor. I got a notification on the same day that the vendor's architect is validating the CCC with the County Council, I assume here it's the compliance certificate.

It's Thursday now and still no word on the keys, is it perfectly normal for it to take this long or should I be lighting some fires somewhere to gets things moving? First time buying a property so not so sure what's the final process

Thanks all

Graham

harvindhillon wrote: »

should I be lighting some fires somewhere to gets things moving?

The squeaky wheel gets the oil.

lalababa

Alrigghtythen wrote: »

My theory on why it takes so long is someone, somewhere is making money off the deposit money. It's in their interests to spin it out for as long a possible.

Solicitors don't make anything on buyers monies as the interest rate on bank a/C's is near zero. In years gone by, sure some few Bob. The hold up though is in their interests. It engengers a sense of 'work being done' and 'difficulties' also both parties may contact their solicitors several times during the hold up thus racking up the bill. The process is mired in hold ups and even has its own archaic language to bamboozle Joe punter. This is creeping into these threads.Notice how instead of seller, posters are beginning to use vendor. Haven't seen vendee yet though. Sure there is a little bit of work involved and you'd better be good with dealing with the public but It's largely a game, that will be done away with through modern records and downward pressure of the service market. Just think a fella asks 5k from you to do essentially 5 hours work . In an age where majority of people go to college.

El Gato De Negocios

Quick advice needed from anyone that has been in this position.

We have put an offer on a house, €15k under asking, we were the only bidder at that time.

Offer went in last Saturday but to date we have not heard anything back from the EA.

Unsure as to best approach ie should we follow up with them or wait and let them contact us?

CR0009836

Does anybody know how long drawdown takes once it's requested? We're with AIB.

harvindhillon

CR0009836 wrote: »

Does anybody know how long drawdown takes once it's requested? We're with AIB.

I got mine the same day.

Only problem it's been almost a week the funds transferred and no date yet on keys :mad:

GDK_11

PaybackPayroll wrote: »

I do not believe that is the case.
Many companies have a mix of employees that are not eligible and those that are.

We also have cases where an employee may get the subsidy one week, not the next but be back on it again the following week.

I have heard of this happening also.

Has anyone had their tax credits amended to a week 1 basis? I did and have now come off the subsidy, my understanding is it is worked on a cumulative basis, is this correct?

flyingoutside

The whole process is so frustrating. We went sale agreed six weeks ago and the sellers solicitor was slow with the contract. Found out yesterday that the seller doesn't want to move out till October now. Absolutely no reason given. If they gave a reason I could maybe understand but it feels like they're playing games now. We've been ready to go the last two weeks and are eager to move in. We got a good price on the house so I'm thinking maybe they don't want to sell and try and get more. But if that's the case I wish they would just pull out. So frustrating.

Will Yam

flyingoutside wrote: »

The whole process is so frustrating. We went sale agreed six weeks ago and the sellers solicitor was slow with the contract. Found out yesterday that the seller doesn't want to move out till October now. Absolutely no reason given. If they gave a reason I could maybe understand but it feels like they're playing games now. We've been ready to go the last two weeks and are eager to move in. We got a good price on the house so I'm thinking maybe they don't want to sell and try and get more. But if that's the case I wish they would just pull out. So frustrating.

See my post 2347 above.

Unfortunately either side can slow the process down to suit their needs.

The only way round it is to have a very good solicitor who stitches in that closure must be by a certain date or the seller agrees to reduce the price by say 5%.

Don’t know how feasible that may be.

flyingoutside

Will Yam wrote: »

See my post 2347 above.

Unfortunately either side can slow the process down to suit their needs.

The only way round it is to have a very good solicitor who stitches in that closure must be by a certain date or the seller agrees to reduce the price by say 5%.

Don’t know how feasible that may be.

Something like that would be great.

I'm actually disappointed with my solicitor. Seems in no rush even though she knows we wanted to move quickly on this. Also seems very willing to just give in on it. Even that it hurts her own clients. She got on the EA to see if he could do anything but he already told us weeks ago they were ready to move so don't trust him either. The process would make you paranoid.

guyfawkes5

flyingoutside wrote: »

Something like that would be great.

I'm actually disappointed with my solicitor. Seems in no rush even though she knows we wanted to move quickly on this. Also seems very willing to just give in on it. Even that it hurts her own clients. She got on the EA to see if he could do anything but he already told us weeks ago they were ready to move so don't trust him either. The process would make you paranoid.

If you have signed and exchanged contracts, she could serve them with a completion notice which would force the sale to conclude in 28 days or cancel the deal altogether. Just bear in mind if the seller has cold feet, they may choose to just let the deal lapse.

CarMc

So we have AIP in from the bank, have a bid in on a house and hoping it will be accepted, next hurdle will be getting the bank to approve the mortgage, from what I've read here they are using anything they can to not approve loans at the moment,

But if we do get to the next step I'd like to get a survey done on the house so my question is does anyone know how I find a surveyor and roughly how much will it cost?

Thanks.

fleabag

Cutie_mcfruity wrote: »

Hi. I’m in the same situation except we’re buying a house. Partner getting the subsidy but working his normal hours! UB won’t let us drawdown and we’ve everything else in place, we were due to close on May 29th!
I’ve gone to several brokers and called different lenders myself, all coming back with the same thing that he has to show one payslip off the subsidy.
His employer has said they can’t take him off it even just for the sake of one month!!
I’m really up the walls with it all. I’ve gone to my local TD not that he will do much but I can’t take this laying down.
It’s just madness how they can allow this to go on, especially with talk of it being extended into next year. I honestly dunno what to do

That must be even more frustrating and I'm sure it's repeated around the country. I'd also considered going to my (FF) TD as it seems as if the Government are trying to keep the economy going and the construction/house buying industries stimulated while the banks are putting the brakes on.

CarMc

CarMc wrote: »

So we have AIP in from the bank, have a bid in on a house and hoping it will be accepted, next hurdle will be getting the bank to approve the mortgage, from what I've read here they are using anything they can to not approve loans at the moment,

But if we do get to the next step I'd like to get a survey done on the house so my question is does anyone know how I find a surveyor and roughly how much will it cost?

Thanks.

erm, mortgage approval should be your first step before you go bidding on houses.

spiralout

Looks like myself and many others will have to wait until next year before getting a house. With the TWSS being extended until spring 2021. Been approved for a mortgage but I've been on the wage subsidy since it was available and I've been told they will keep taking it as long as its available. Even tho we never stopped working and are busy they will do what they need to to continue getting the payment.

Our broker is saying we are still good candidates for a mortgage and should proceed that just one payslip is all they need. No exemptions well within the 2.5 requirement. Mortgage would be same as our rent.

Just wondering has anyone received a mortgage on the payment? I don't want to go to viewings or waste anyone's time if its a no go.

Markitron

Deleted User wrote: »

erm, mortgage approval should be your first step before you go bidding on houses.

He has AIP

Dylan94

[Deleted User] wrote: »

erm, mortgage approval should be your first step before you go bidding on houses.

The very first sentence they say they have apprival.

brisan

MattS1 wrote: »

Any advice here?

QUOTE=Vikings;114107366]Our house is online very recently with a total outlay of €450 including professional photographer.[/QUOTE]

SamH88 wrote: »

We got a quote of 900ish for photos and virtual video, brochure and initial listings.