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Selling Apartment

  • 13-01-2022 7:37pm
    #1
    Registered Users Posts: 5,029 ✭✭✭ Quandary


    So I will be putting my apartment up for sale shortly. 2 bed apt in a nice part of Drumcondra.

    any ideas how fast apartments are selling around Drumcondra?

    I am hoping to list it in the next 2 weeks with an estate agent.

    is expecting it to sell in less than 6 months a realistic hope?



Comments

  • Moderators, Society & Culture Moderators Posts: 32,260 Mod ✭✭✭✭ The_Conductor


    Demand is quite high- but depends entirely on your asking price and the condition that the unit is in.

    6 months sounds like you are being realistic- the legal issues etc do take time, but you have different eventualities built into your timeframe.

    Best of good luck with the sale.



  • Registered Users Posts: 904 ✭✭✭ rightmove


    what are the reasons behind the sale.? There is s story behind all decisions



  • Registered Users Posts: 8,740 ✭✭✭ John_Rambo


    I work with a company that's particularly good at shifting apartments quickly and at a premium price. The rest is up to you and you putting pressure on your solicitor. I mean calling them every day. Solicitors are the bottle neck.

    Edit... they don't charge a premium price, but manage to get premium prices for the vendor.



  • Registered Users Posts: 5,029 ✭✭✭ Quandary


    I am an accidental landlord who wants out and the time is looking right for us now. I had decent tenants in place for the last 5 years but they have purchased their own place. Personal circumstances, not looking to gamble on new tenants, right time to sell for us as we are no longer making a loss (bought 2007).

    Really don't want to be a landlord any more and feel we were very lucky with the tenants we got. Time to get out now while we can I think!



  • Registered Users Posts: 5,368 ✭✭✭ JimmyVik


    Friend of mine sold a 1 bed apartment in Santry in September.

    2 Weeks after putting it on the market estate agent showed it to over 30 people in one day.

    Following week he was already getting bids 20% over what the one next door had sold for only 6 months previously.

    He was about to accept a bid and then another bid came in with an additional €15k over what the current highest bid was. So he accepted that.

    That all happened in less than a month from start to finish.

    Then the actual sale only went through about 2 months after he was sale agreed. The legal part was the slowest part of the process.



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  • Registered Users Posts: 1,200 ✭✭✭ superfurry1


    Hi there i have a friend who is currently living in Drumcondra and looking to buy an apartment, Send me a private mail and i can send on his details or he can contact you, It might save a lot of hassle. Thanks John.



  • Registered Users Posts: 5,618 ✭✭✭ Claw Hammer


    You can get on the market and get offers quite quickly, possibly with 3 weeks. After that the variables are, the purchaser, the solicitors and the management company. Is the management company efficient and effective, is there an adequate sinking fund, any issues with planning,, fire safety arrears of se4rvice charges etc? Will the company complete the paperwork promptly? Is your solicitor pro-active? Have the solicitor get the title deeds from the bank and start preparing the contract immediately. It happens time and again that the first a solicitor knows about a sale is when a letter comes in from the auctioneer and then a letter has to go to the bank looking for title deeds. Everything then stops until the deeds come which can take ages.



  • Registered Users Posts: 512 ✭✭✭ MakersMark


    Try an auction as opposed to regular sale.

    Worked very well for me, went sale agreed after 1 week. Non refundable deposit of 10% made 1 week later.



  • Registered Users Posts: 3,717 ✭✭✭ 3DataModem


    If you are looking for a quick sale, ensure you and your solicitor ensure that the paperwork (deeds, management company accounts, sinking fund, LPT, NPPT, BER) is up to date. Any one of these things can hold things up.



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