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

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    #2762
    Littleredcar
    Registered Users Posts: 184 ✭✭Littleredcar


    I’m about to start bidding on houses again . Really nervous I’m selling my first home I’ve lived in for 20 years. Former council house good neighbours , I just would need to build bedrooms etc to be happy . Looking for a more modern home. Have viewed two houses on sale by developer in former ghost estate castlemoyne. One has been rented the other is show house. Would developers be open to offers below asking


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    #2763
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    Anybody at viewing stages of houses/bidding and yet to go sale agreed? How are you finding it?

    We got back into it a few weeks ago and in Cork it seems to have gone crazy. We had been looking for a few years but never seemed to find the right house. Now we are under pressure with our living arrangement so I need to find something by end of year.

    However Cork seems to have gone crazy. We were bidding on a house that was up last year and sale fell through. Asking 320k last year, sale agreed at 320k. This year was 340k and we had to stop at 350k. Some houses that had been sitting for months as overpriced seem to have now gone sale agreed.

    New builds are now out of our league. I’ve seen three developments go up in price. One according to MyHome.ie increase a new build by 65k.

    Feeling really stressed and disheartened about the whole thing. Esp as it seems prices were levelling off and coming to some status quo at the start of year.


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    #2764
    strmin
    Registered Users Posts: 313 ✭✭strmin


    I'm in the same situation. It feels like 2007 all over again. All properties I was bidding on were 50k over asking when I gave up. People place offers during first viewing. There is no even time to think.
    I decided to have a few months off from house hunt.


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    #2765
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    strmin wrote: »
    I'm in the same situation. It feels like 2007 all over again. All properties I was bidding on were 50k over asking when I gave up. People place offers during first viewing. There is no even time to think.
    I decided to have a few months off from house hunt.

    Yes I couldn’t make a viewing and was told they won’t be arranging a second viewing as they expect to get the price they want from the first viewing - and they did.

    I know a few auctioneers through work and some seem surprised at how it’s all gone after covid as were not expecting the market to react like this.


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    #2766
    keoclassic
    Registered Users Posts: 368 ✭✭keoclassic


    strmin wrote: »
    I'm in the same situation. It feels like 2007 all over again. All properties I was bidding on were 50k over asking when I gave up. People place offers during first viewing. There is no even time to think.
    I decided to have a few months off from house hunt.

    We are exactly the same. Also taking a step back from the madness. There is obviously alot of people with money willing to spend. It really does feel like 2007 again. We have been looking for a place 3-5 k outside of our town and every property either needs huge work or is way overpriced. But as a previous poster said, there are house's that have been sitting idle for 2 years with big price tags now going for asking. All these houses need huge work. The local need is killing young people who want to build, its so wrong!!


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    #2767
    alicantra123
    Registered Users Posts: 16 ✭alicantra123


    Hi all,

    I am at the sale agreed stage and have the valuation, survey and life assurance sorted. Contracts have been exchanged and the sellers have set 30th September as closing date. Both sides are wanting to close ASAP (no chains either side and sellers want a quick sell as they have already moved out).

    Just wondering what are the sorts of things that usually delay a sale going through? I'm in a tricky position where I'll be changing my job in October and that might threaten the mortgage. Slightly stressful to say the least! am I deluded to think it could possibly happen by September 30th??


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    #2768
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    keoclassic wrote: »
    We are exactly the same. Also taking a step back from the madness. There is obviously alot of people with money willing to spend. It really does feel like 2007 again.

    We had initially planned to give it a break rest of year as well but our living situation has changed. We had looked at renting but still cheaper to service a mortgage. Again rent doesn’t seemed to have dipped in Cork. But if this is what it’s like without exemptions available (ours is paused) - I’m afraid what it could be like when they kick back in (presumably next year?). But then you have the backdrop of Brexit again.

    I agree on the 2007 feeling. I mean I felt things increasing last few years but thought we would never reach the madness of 2007 at least but I’ve been at viewings where people are offering there and then bids.

    And I say there are a lot of people who want to sell and buy but finding the house to move to is also proving difficult.

    I’ve heard from the new guidelines issued Friday that the new covid scheme from September should show clear payslips so banks won’t be able to tell your on it. But no doubt they will require something else from employer...


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    #2769
    lcarrol3
    Registered Users Posts: 82 ✭✭lcarrol3


    Dolbhad wrote: »
    We had initially planned to give it a break rest of year as well but our living situation has changed. We had looked at renting but still cheaper to service a mortgage. Again rent doesn’t seemed to have dipped in Cork. But if this is what it’s like without exemptions available (ours is paused) - I’m afraid what it could be like when they kick back in (presumably next year?). But then you have the backdrop of Brexit again.

    I agree on the 2007 feeling. I mean I felt things increasing last few years but thought we would never reach the madness of 2007 at least but I’ve been at viewings where people are offering there and then bids.

    And I say there are a lot of people who want to sell and buy but finding the house to move to is also proving difficult.

    I’ve heard from the new guidelines issued Friday that the new covid scheme from September should show clear payslips so banks won’t be able to tell your on it. But no doubt they will require something else from employer...

    We're in the exact same boat. Our broker told us that most of the madness at the moment is pent up demand and people who are concerned about losing jobs in a recession or people who fear they won't get the money next year. I'm hoping things will have settled by January but at the moment we're not even going to viewings, it really feels like there's no point.


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    #2770
    spiralout
    Registered Users Posts: 15 ✭spiralout


    Dolbhad wrote: »
    We had initially planned to give it a break rest of year as well but our living situation has changed. We had looked at renting but still cheaper to service a mortgage. Again rent doesn’t seemed to have dipped in Cork. But if this is what it’s like without exemptions available (ours is paused) - I’m afraid what it could be like when they kick back in (presumably next year?). But then you have the backdrop of Brexit again.

    I agree on the 2007 feeling. I mean I felt things increasing last few years but thought we would never reach the madness of 2007 at least but I’ve been at viewings where people are offering there and then bids.

    And I say there are a lot of people who want to sell and buy but finding the house to move to is also proving difficult.

    I’ve heard from the new guidelines issued Friday that the new covid scheme from September should show clear payslips so banks won’t be able to tell your on it. But no doubt they will require something else from employer...


    Anyone else hear of this or would you have any link to this information?? I'm held up by the covid subsidy too and will be reapplying for approval in september


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    #2771
    shatners bassoon
    Registered Users Posts: 187 ✭✭shatners bassoon


    Does anyone know how accurate the square footage is likely to be on a BER cert?

    I've seen a few properties now where there's a discrepancy between the square footage on the advertisement and the BER site.


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    #2772
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    spiralout wrote: »
    Anyone else hear of this or would you have any link to this information?? I'm held up by the covid subsidy too and will be reapplying for approval in september

    If you google revenue and the guidelines on the operation of the employment wage subsidy scheme. It issued on 14th August.

    It says that employers should not include the EWSS “other payment” details on they payslip they provide to the employee.

    So seems the payslips would be clear?
    shatners bassoon wrote: »
    Does anyone know how accurate the square footage is likely to be on a BER cert?

    I've seen a few properties now where there's a discrepancy between the square footage on the advertisement and the BER site.

    I’ve seen this and would go by the BER only cause maybe an engineer would know better than auctioneer. But depends on old the BER cert is also possibly
    lcarrol3 wrote: »
    We're in the exact same boat. Our broker told us that most of the madness at the moment is pent up demand and people who are concerned about losing jobs in a recession or people who fear they won't get the money next year. I'm hoping things will have settled by January but at the moment we're not even going to viewings, it really feels like there's no point.

    I really feel for you. Hope you are in a situation that you can wait it out though. Surely it can’t get worse


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    #2773
    Fuzzy_Dunlop
    Registered Users Posts: 5,493 ✭✭✭Fuzzy_Dunlop


    I am also experiencing people blowing us out of the water in bidding wars going well over asking in south dublin.
    shatners bassoon wrote: »
    Does anyone know how accurate the square footage is likely to be on a BER cert?

    I've seen a few properties now where there's a discrepancy between the square footage on the advertisement and the BER site.

    The BER assessor is meant to measure the internal dimensions of each room so that should be pretty accurate.


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    #2774
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    Fuzzy_Dunlop wrote: »
    I am also experiencing people blowing us out of the water in bidding wars going well over asking in south dublin.

    I was hoping Dublin may have hit the ceiling limit and maybe Cork was just following suit but does not seem to be the case....


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    #2775
    Pivot Eoin
    Registered Users Posts: 564 ✭✭✭Pivot Eoin


    Fuzzy_Dunlop wrote: »
    I am also experiencing people blowing us out of the water in bidding wars going well over asking in south dublin.



    The BER assessor is meant to measure the internal dimensions of each room so that should be pretty accurate.

    Is this a true sign of Increase, or are they just continuing form. Good Houses in Dublin have always gone over their asking price and it is part of the pricing strategy of most EAs to do so.

    From what Ive gathered, also looking in the area is that yes the best properties are going 5-10% above asking. I've seen a few WOW properties that probably look over valued but only maybe by 15-20k. Reality is that is 3-4% In south Dublin.

    I know you might not want to hear this, but just because asking is in your budget, doesn't mean that you are looking in the market you can afford. If you constantly find yourself being outbid, its a telltale sign that you cant afford in the market you are looking in. 2 askings of €500k in the same area, one being 100% turn key, the other needing a good bit of work, but both the same price... i would imagine the one needing work is in a market you can afford, the other turn key isnt. But they're priced similar to catch the searches, generate the viewings etc.


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    #2776
    Glory83
    Registered Users Posts: 54 ✭✭Glory83


    an EA in Cork told me a house advertised in the suburbs went sale agreed at 50K over asking price. This is crazy if correct.


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    #2777
    Vikings
    Registered Users Posts: 2,788 ✭✭✭Vikings


    Glory83 wrote: »
    an EA in Cork told me a house advertised in the suburbs went sale agreed at 50K over asking price. This is crazy if correct.

    Probably correct but the asking price was deliberately set low to engage multiple bidders.

    Came across similar last month in Lucan. Advertised for 450k went same agreed at 500k.


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    #2778
    Glory83
    Registered Users Posts: 54 ✭✭Glory83


    Vikings wrote: »
    Probably correct but the asking price was deliberately set low to engage multiple bidders.

    Came across similar last month in Lucan. Advertised for 450k went same agreed at 500k.

    This one went from 255K to 305K. It looked nice but it is not the most sought after location anyway as you will need a car to go everywhere.


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    #2779
    Sonrisa
    Registered Users Posts: 134 ✭✭Sonrisa


    Glory83 wrote: »
    This one went from 255K to 305K. It looked nice but it is not the most sought after location anyway as you will need a car to go everywhere.

    Where in Cork? (Rough area). I've been stalking Daft for months so now I'm curious. That's an insane leap.


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    #2780
    JeffKenna
    Registered Users Posts: 4,535 ✭✭✭JeffKenna


    Glory83 wrote: »
    an EA in Cork told me a house advertised in the suburbs went sale agreed at 50K over asking price. This is crazy if correct.

    A certain auctioneer in the City seems to set the asking price extremely low for properties.


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    #2781
    Smiley11
    Registered Users Posts: 246 ✭✭Smiley11


    JeffKenna wrote: »
    A certain auctioneer in the City seems to set the asking price extremely low

    I'd say that EA sold my house. Got 70k over asking after a bidding war. That was a couple of years ago though. Don't think I'd be inclined to enter into negotiations with him as a buyer though!


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    #2782
    Glory83
    Registered Users Posts: 54 ✭✭Glory83


    Sonrisa wrote: »
    Where in Cork? (Rough area). I've been stalking Daft for months so now I'm curious. That's an insane leap.

    Carrigtwohill.
    JeffKenna wrote: »
    A certain auctioneer in the City seems to set the asking price extremely low for properties.

    Probably. They had 2 properties that went sale agreed. One jumped from 195K to 225K and the other one from 255K to 305K.


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    #2783
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    Glory83 wrote: »
    an EA in Cork told me a house advertised in the suburbs went sale agreed at 50K over asking price. This is crazy if correct.

    You lost my interest after "an EA told me "


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    #2784
    Fuzzy_Dunlop
    Registered Users Posts: 5,493 ✭✭✭Fuzzy_Dunlop


    Pivot Eoin wrote: »
    Is this a true sign of Increase, or are they just continuing form. Good Houses in Dublin have always gone over their asking price and it is part of the pricing strategy of most EAs to do so.

    From what Ive gathered, also looking in the area is that yes the best properties are going 5-10% above asking. I've seen a few WOW properties that probably look over valued but only maybe by 15-20k. Reality is that is 3-4% In south Dublin.

    I know you might not want to hear this, but just because asking is in your budget, doesn't mean that you are looking in the market you can afford. If you constantly find yourself being outbid, its a telltale sign that you cant afford in the market you are looking in. 2 askings of €500k in the same area, one being 100% turn key, the other needing a good bit of work, but both the same price... i would imagine the one needing work is in a market you can afford, the other turn key isnt. But they're priced similar to catch the searches, generate the viewings etc.

    Nah we're specifically looking at houses with asking prices within our budget with the knowledge they will likely go up, and not really looking for turnkey condition (quite the opposite on the last one we bid on). But they're all going 25-40 k over and while we could afford it for some we just don't think they're worth what other people are bidding.


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    #2785
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    Glory83 wrote: »
    This one went from 255K to 305K. It looked nice but it is not the most sought after location anyway as you will need a car to go everywhere.

    I know who you are on about. The minute I see houses from them I add 40k on to get an idea of the real price.


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    #2786
    givyjoe
    Registered Users Posts: 3,287 ✭✭✭givyjoe


    brisan wrote: »
    You lost my interest after "an EA told me "

    It's easily checked, albeit it will take a while to pop up on the property register.


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    #2787
    jenno86
    Registered Users Posts: 2,634 ✭✭✭jenno86


    Just went sale agreed for 5k under the asking! Only on the market a few weeks so I’m happy with it! I know it’s just half time! Will keep ye updated with how it goes,


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    #2788
    bulmersgal
    Registered Users Posts: 1,174 ✭✭✭bulmersgal


    Went to another viewing today. Got there and told the house has gone sale agreed to tenant. Only added to daft yesterday..

    Same estate agent I was highest bidder on property for three weeks 4k over asking. 9k over what similar houses had sold in estate earlier this year and owner ended up selling privately to somebody they knew.

    Wish more properties would come to market, starting to doubt my decision on properties I'd seen and thought not right for me. Hopefully more come onto to market soon but in the meantime I'll just keep saving.


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    #2789
    Vikings
    Registered Users Posts: 2,788 ✭✭✭Vikings


    Very frustrated with a particular EA today, having games played by them which is negatively affecting us bidding on a particular property.

    We had an offer of asking price rejected and were countered with 10k over asking. We decided to accept that offer only to be outbid by 5k by a mysterious bidder. (Who had previously outbid us when we offered under asking)

    We called the bluff of the EA. Cue frantic backpedalling and grandeur. We reduced our offer back to asking in light of the other bidder not existing but still wanting to buy the property. Now the vendors believe they are being messed around when the EA has orchestrated said mess.

    Worse still, we've an offer on our property of 5k over the asking and would be ready to go sale agreed had we not been messed around on the other property.


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    #2790
    Smouse156
    Registered Users Posts: 529 ✭✭✭Smouse156


    Vikings wrote: »
    Very frustrated with a particular EA today, having games played by them which is negatively affecting us bidding on a particular property.

    We had an offer of asking price rejected and were countered with 10k over asking. We decided to accept that offer only to be outbid by 5k by a mysterious bidder. (Who had previously outbid us when we offered under asking)

    We called the bluff of the EA. Cue frantic backpedalling and grandeur. We reduced our offer back to asking in light of the other bidder not existing but still wanting to buy the property. Now the vendors believe they are being messed around when the EA has orchestrated said mess.

    Worse still, we've an offer on our property of 5k over the asking and would be ready to go sale agreed had we not been messed around on the other property.

    This just proves EAs are constantly making up fake bids or accepting bids they know to be nonsense


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    #2791
    Vikings
    Registered Users Posts: 2,788 ✭✭✭Vikings


    Smouse156 wrote: »
    This just proves EAs are constantly making up fake bids or accepting bids they know to be nonsense

    And in this particular case there is an online bidding system, which if my suspicions are true, involves some serious elements of fraud at play by the EA.


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