Pheonix10 wrote: » Thank you! So if the valuation comes back lower than the sale price, then I can use it an indication that it is overpriced?
snoopboggybog wrote: » Because my salary is 42K. 200K minus 3.5 rule leaves 53K. Maybe I didn't word it right. If i went to Dublin i'd probably get 65k-70K but don't fancy a four hour commute!! I should hit the 50K mark anyway in four or five years so will probably just wait till then. I'll be 33 then.
tobsey wrote: » Have you enquires about an exemption? I’d guess you’re mortgage at 175k is only about 800 per month. Stress tested maybe 1000 or so? I’d have thought you’d be close to qualifying since the value of the property is low by national standards.
cnocbui wrote: » I would think the most likely scenario id down.
chevra13i wrote: » We're in the middle of purchasing a new build (first-time buyers) - we've only paid the 5k deposit so far so we have the option of pulling out if need be but I'm starting to think that we'd be mad to continue with purchasing at a price that was agreed in early Feb before all the virus disruption. Thankfully we don't have to pull the trigger until it comes to signing which is a while away yet but it's still stressing me out.
voluntary wrote: » It won't be. In vast majority of cases the bank's assessor will take your purchase price and just repeat it in the valuation. They'll only suggest a different one if your purchase price is WAyyyy off. Like if you want to scam a bank, take a 1M EUR mortgage for a shed on the end of the road which you buy from a cousin.
Greentree_uk wrote: » I really don't see why they do that, makes no sense, but I guess a house is worth what someone is willing to pay for it..
GreeBo wrote: » Assuming your personal circumstances havent changed, then why would you change your mind? Sure you could maybe get it cheaper in a few months, but maybe it would be cheaper again in a few years....maybe in a few decades? If you were happy with the cost last month then you should be happy with it now, again, assuming your personal circumstances havent changed.
PokeHerKing wrote: » Everyone's personal circumstances have changed. We're at the start of a global pandemic, 50% of the worlds population are under some form of enforced lockdown, financial markets are in free fall, unemployment is skyrocketing. Having an auld think about the biggest purchase you'll ever make in life would be a good shout.
snoopboggybog wrote: » I did, unless I actually have the 53K saved when applying they can't alter the exemption for some reason. Maybe its because I'm a single applicant. Like its absolutely ridiculous. Have a good career, good prospects etc in a company that employs around 35,000 globally. I'm a 10 minute drive from work in the place where I grew up. Its just ****ing frustrating. I have the 25K good to go and renting at the same time. I can understand the 3.5 rule for some jobs but I'm getting absolutely shafted.
GreeBo wrote: » My household personal circumstances haven't changed, why you would assume that everyones have? "Freefall" and "skyrocket" are very emotive terms to be using.
GreeBo wrote: » My household personal circumstances haven't changed, why you would assume that everyones have?"Freefall" and "skyrocket" are very emotive terms to be using.
what_traffic wrote: » Know of two purchases in the last week. Galway City (asking 240k sold for 215k) and Waterford City (245k sold for 225k)
pearcider wrote: » The Japanese bubble is dwarfed by the US bond bubble. Both the balance sheet of the federal reserve and the fiscal position of the US treasury have deteriorated dramatically since 2008.
Tasfasdf wrote: » What locations was the Galway one? Seems a huge drop for Galway city
Mad_maxx wrote: » I wouldn't consider that a huge drop at all
PokeHerKing wrote: » So you're going about your normal day as you were last month?
Knex. wrote: » Whatever about emotive, they're accurate.
lir6777 wrote: » Can I ask people's advice on a new build? I put a booking deposit down less than a month ago but am now worried the house will no longer be worth what I agreed to pay. I could back out but this was a situation where I had to queue in the small hours of the night to put my name down and was lucky to get it, so I'm reluctant to just let it go without a good think. I doubt there's much scope to negotiate the price for a big development is there? Or would the eventual valuation from the bank next year be an issue? I really don't want to end up in negative equity, even though I planned in theory to stay put for at least 5 years I don't want to be totally trapped either. Just want to know what my options might be in terms of the price- any thoughts?
shatners bassoon wrote: » EA emailed me about a house in D7 which had been sale agreed at c530k pre covid but fell through to advise that there are now two bidders and the current offer is 510k.
what_traffic wrote: » Know of two purchases in the last week. Waterford City (245k sold for 225k)
