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

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    #2792
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    <SNIP>


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    #2793
    Pivot Eoin
    Registered Users Posts: 564 ✭✭✭Pivot Eoin


    Vikings wrote: »
    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.

    You can go to the EAs office to submit a bid in person which then requires it to be entered into the Bidding Log Book. This also gives you an opportunity to look the EA in the face which then reduces their ability to blatantly lie (if youre suspicious of that).


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    #2794
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    Pivot Eoin wrote: »
    You can go to the EAs office to submit a bid in person which then requires it to be entered into the Bidding Log Book. This also gives you an opportunity to look the EA in the face which then reduces their ability to blatantly lie (if youre suspicious of that).

    If an EA has not got the ability to blatantly lie to your face then he/she is not a proper EA


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    #2795
    Pivot Eoin
    Registered Users Posts: 564 ✭✭✭Pivot Eoin


    brisan wrote: »
    If an EA has not got the ability to blatantly lie to your face then he/she is not a proper EA

    Ha, true enough.


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    #2796
    Pivot Eoin
    Registered Users Posts: 564 ✭✭✭Pivot Eoin


    We have made an opening bid on a house (about 2% Under asking), the house is almost certainly worth more. It has been up for a few weeks and we are only bidder, we bid on Monday.

    We basically put the bid in just to signal our own intent, expecting other bids to have been in or to have come in but so far its just us.

    We didnt time limit it or anything, its just sitting there, not accepted nor rejected. I would be very surprised if they were to let it go at the current bid price nonetheless But I would like to speed up the process, rather than just have my bid sitting there as the reference point for other viewers etc.

    Anyone been in this scenario? Have you increased a bid to try move things along? We were already told about 10 days ago that they want to leave the house on the market and see how it plays out for a few weeks. Not sure what to do as a next step


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    #2797
    alicantra123
    Registered Users Posts: 16 ✭alicantra123


    Has anyone had any issues around putting a clause in contracts in relation to getting their deposit back if bank withdraws a mortgage for some reason? I am at signing contracts stage myself and will be instructing my solicitor to include this but have heard some vendors can be put off by this.

    as an aside, It might be an idea to make a designated thread specifically on bidding on houses/speculating about price fluctuations as this seems to be what most of the discussion on here is about. I had a lot of questions about this myself when I was bidding and the uncertainty was excruciating so I'm sure designated thread would be helpful. not a criticism of anyone's genuine questions, just a suggestion to make things easier to navigate.


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    #2798
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    alicantra123 wrote: »
    Has anyone had any issues around putting a clause in contracts in relation to getting their deposit back if bank withdraws a mortgage for some reason? I am at signing contracts stage myself and will be instructing my solicitor to include this but have heard some vendors can be put off by this.

    as an aside, It might be an idea to make a designated thread specifically on bidding on houses/speculating about price fluctuations as this seems to be what most of the discussion on here is about. I had a lot of questions about this myself when I was bidding and the uncertainty was excruciating so I'm sure designated thread would be helpful. not a criticism of anyone's genuine questions, just a suggestion to make things easier to navigate.

    https://www.boards.ie/vbulletin/showthread.php?t=2058095305


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    #2799
    Bigmac1euro
    Registered Users Posts: 1,457 ✭✭✭Bigmac1euro


    alicantra123 wrote: »
    Has anyone had any issues around putting a clause in contracts in relation to getting their deposit back if bank withdraws a mortgage for some reason? I am at signing contracts stage myself and will be instructing my solicitor to include this but have heard some vendors can be put off by this.

    as an aside, It might be an idea to make a designated thread specifically on bidding on houses/speculating about price fluctuations as this seems to be what most of the discussion on here is about. I had a lot of questions about this myself when I was bidding and the uncertainty was excruciating so I'm sure designated thread would be helpful. not a criticism of anyone's genuine questions, just a suggestion to make things easier to navigate.


    Went sale agreed 5 weeks ago 15k under asking.

    Nearly had issue getting loan offer but got it in the end.

    Signed contracts last Thursday morning including the clause you speak of (you would be insane not to). I asked my solicitor about it causing a problem and she said she hasn’t had anyone who’ve been refused over this clause but she has seen people lose their money around the time of the boom because solicitors just rushed everything through without thinking.

    So nervous about drawdown and terrified the bank will create problems.
    We just need to submit 2 months bank statements each which we are doing on Friday.

    Not sure if vendor has signed their side of contracts yet.
    Waiting nervously for an update.


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    #2800
    ebayissues
    Registered Users Posts: 446 ✭✭ebayissues


    Bigmac1euro wrote: »
    Went sale agreed 5 weeks ago 15k under asking.

    Nearly had issue getting loan offer but got it in the end.

    Signed contracts last Thursday morning including the clause you speak of (you would be insane not to). I asked my solicitor about it causing a problem and she said she hasn’t had anyone who’ve been refused over this clause but she has seen people lose their money around the time of the boom because solicitors just rushed everything through without thinking.

    So nervous about drawdown and terrified the bank will create problems.
    We just need to submit 2 months bank statements each which we are doing on Friday.

    Not sure if vendor has signed their side of contracts yet.
    Waiting nervously for an update.




    One of the girls thats buying a place fced this isue. Chain sale and vendor wanted no clause. She point blank refused no....still an ongoing issue


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    #2801
    CR0009836
    Registered Users Posts: 14 ✭CR0009836


    We successfully drew down yesterday with AIB without an issue.. my partner is also on the covid top up subsidy. Not sure what your situation is but i'm sure you'll be fine!


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    #2802
    Bigmac1euro
    Registered Users Posts: 1,457 ✭✭✭Bigmac1euro


    CR0009836 wrote: »
    We successfully drew down yesterday with AIB without an issue.. my partner is also on the covid top up subsidy. Not sure what your situation is but i'm sure you'll be fine!

    Congrats!
    We’re taking our mortgage out with UB.

    Just wondering did it take long to drawdown after funds where requested?


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    #2803
    Smiley11
    Registered Users Posts: 246 ✭✭Smiley11


    Pivot Eoin wrote: »
    We have made an opening bid on a house (about 2% Under asking), the house is almost certainly worth more. It has been up for a few weeks and we are only bidder, we bid on Monday.

    We basically put the bid in just to signal our own intent, expecting other bids to have been in or to have come in but so far its just us.

    We didnt time limit it or anything, its just sitting there, not accepted nor rejected. I would be very surprised if they were to let it go at the current bid price nonetheless But I would like to speed up the process, rather than just have my bid sitting there as the reference point for other viewers etc.

    Anyone been in this scenario? Have you increased a bid to try move things along? We were already told about 10 days ago that they want to leave the house on the market and see how it plays out for a few weeks. Not sure what to do as a next step

    We were in a similar position until yesterday. We were the only bidders for about a month. We got a call to say theres now another bidder 20k higher than our offer. We'll go back with small increases until the point we've decided we'll walk at. At our first viewing 2 months ago, the EA said he expected a deal to be done in 2 weeks. He said the same yesterday.

    I wouldn't be inclined to raise your bid if you think the vendor is waiting for another bidder. Leave them wait. Its a pain for you but also may be for them. It sounds to me that at the moment, if you were to raise your bid, that they'll just leave it on the table anyway because they're hoping for a bidding war so why do yourself out of a few k unnecessarily? Its all a game & very frustrating. Good luck with it!


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    #2804
    mimimcmc
    Registered Users Posts: 891 ✭✭✭mimimcmc


    Smiley11 wrote: »
    I wouldn't be inclined to raise your bid if you think the vendor is waiting for another bidder. Leave them wait. Its a pain for you but also may be for them. It sounds to me that at the moment, if you were to raise your bid, that they'll just leave it on the table anyway because they're hoping for a bidding war so why do yourself out of a few k unnecessarily? Its all a game & very frustrating. Good luck with it!

    I agree.. we did the same. Decided not to outbid ourselves and surely enough there was another bidder a few days later.. got into a bidding war but came out on top thank god


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    #2805
    SteelyDanJalapeno
    Registered Users Posts: 14,240 ✭✭✭✭SteelyDanJalapeno


    Just gone sale agreed at asking price for a 190sm/m detached dormer with sea views with a 30 minute commute to work :)
    Delighted


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    #2806
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    SteelyDanJalapeno wrote: »
    Just gone sale agreed at asking price for a 190sm/m detached dormer with sea views with a 30 minute commute to work :)
    Delighted

    Congrats!
    In Dublin?


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    #2807
    GalwayyGirl
    Registered Users Posts: 12 ✭GalwayyGirl


    CR0009836 wrote: »
    We successfully drew down yesterday with AIB without an issue.. my partner is also on the covid top up subsidy. Not sure what your situation is but i'm sure you'll be fine!
    Was your partner’s income included in the application?

    I am receiving the subsidy top up and I have been told by all the main lenders that my income would not be included in the application but we can borrow x3.5 times my partner’s income (not affected by covid). So we’re now not able to borrow enough to qualify for HTB.

    Thanks and congrats!


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    #2808
    setanta1984
    Registered Users Posts: 818 ✭✭✭setanta1984


    Our solicitor has written to KBC for permission to qualify the title for a couple of issues. Has anyone done this recently? Waiting over two weeks since the letter, broker has followed up but still not heard anything. Afraid this could take a long time :(


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    #2809
    Will Yam
    Registered Users Posts: 671 ✭✭✭Will Yam


    SteelyDanJalapeno wrote: »
    Just gone sale agreed at asking price for a 190sm/m detached dormer with sea views with a 30 minute commute to work :)
    Delighted

    Well done.

    I was involved in a bidding process and eventually won out at 5.4% over asking.

    Offer accepted, paid a deposit. Then learnt that underbidder has come back in the race with a better offer. Awaiting the outcome.......


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    #2810
    Smiley11
    Registered Users Posts: 246 ✭✭Smiley11


    Will Yam wrote: »
    Well done.

    I was involved in a bidding process and eventually won out at 5.4% over asking.

    Offer accepted, paid a deposit. Then learnt that underbidder has come back in the race with a better offer. Awaiting the outcome.......

    Good luck! We're bidding now & I dread something like that happening but hopefully luck will be on your side. I'm trying to tell myself not to be too emotionally invested but once you can afford it & its not outrageous, knock 'em out of the park


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    #2811
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    Will Yam wrote: »
    Well done.

    I was involved in a bidding process and eventually won out at 5.4% over asking.

    Offer accepted, paid a deposit. Then learnt that underbidder has come back in the race with a better offer. Awaiting the outcome.......

    If they accepted a deposit, shouldn't that be the end of it? What is the point of the deposit otherwise?

    Genuine question btw.


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    #2812
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Markitron wrote: »
    If they accepted a deposit, shouldn't that be the end of it? What is the point of the deposit otherwise?

    Genuine question btw.

    It should, but as they’re not binding, if they offer let’s say a further 10k, the seller may go for it and return the deposit. The same way, the but could see another property and cancel his deposit. It’s not definite


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    #2813
    Will Yam
    Registered Users Posts: 671 ✭✭✭Will Yam


    Markitron wrote: »
    If they accepted a deposit, shouldn't that be the end of it? What is the point of the deposit otherwise?

    Genuine question btw.

    Its all “subject to contract”. Nothing is legal until contract is signed. The deposit is simply an indication of seriousness, and is refundable.


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    #2814
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    cubatahavana wrote: »
    It should, but as they’re not binding, if they offer let’s say a further 10k, the seller may go for it and return the deposit. The same way, the but could see another property and cancel his deposit. It’s not definite
    Will Yam wrote: »
    Its all “subject to contract”. Nothing is legal until contract is signed. The deposit is simply an indication of seriousness, and is refundable.

    It seems kind of pointless so? Then again there is a lot about the Irish property market that seems pointless and/or confusing.


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    #2815
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    Once you go sale agreed and paid the booking deposit, the owners should not entertain further offers and if they do, you are gazumped. It’s bad faith of the seller to do that. But equally the purchase can try renegotiate the price if engineers report raised issues. Pretty much a buyer beware situation so a lot of checks to be done before contracts signed and until they are signed, either party can walk away.


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    #2816
    Draco
    Subscribers Posts: 1,911 ✭✭✭Draco


    Just gone sale agreed on my apartment at 2% under asking and sale agreed on a house at 6% under asking - both in D7.

    The apartment was up for a week whereas the house has been up since January/February. The house is a little challenging in that it needs full refurbishment but there was still a bit of interest in it.

    Now for the long slog through all the paperwork.


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    #2817
    Vikings
    Registered Users Posts: 2,788 ✭✭✭Vikings


    Have an offer around 3.3% over asking on our house at the moment and waiting to see if our offer of 2.2% over asking will be accepted by vendors of house we would like to buy. Playing the waiting game today


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    #2818
    Jammyd
    Registered Users Posts: 281 ✭✭Jammyd


    We recently went sale agreed on our home with the sale price within the valuation range of the EA who is selling it for us, we had the banks panel valuer out last week and were updated from our EA today the bank has sought clarification from the valuer, anyone any idea on what this might mean? This means the purchasers still don't have their loan offer so we are at a standstill until this gets resolved.

    Slight background is we went sale agreed prior to putting the property on the open market, our EA had recently sold another identical house (albeit lower spec finish) in our estate and asked if we wanted to do a private viewing before we did photos, online add etc. We agreed and were delighted within a week to have 3 offers and agreed a price.

    The agreed price is exactly the same amount as the other property in our estate (this one has had contracts exchanged and is about to close in the next 2 weeks however is not on the PPR etc as its so recent).

    I am assuming the issue is there are no price comparables in the area as its pretty much all new houses with extremely low transaction turnover up here due to the newness of the area, however was wondering is this something anyone else has encountered and should we be worried or is there other clarifications i'm not considering?

    On an aside the valuer was very strange, didn't hesitate to make themselves at home, pulled up a chair sat down and started grilling us on a serious amount of queries which were not relevant to the valuation (I flagged these with my EA who agreed this was very odd, I've worked in mortgages, and this is also not the first property I've sold so know the queries were well outside what they complete in a valuations form) we both got a very strange vibe off the guy and hearing this today makes us wonder.


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    #2819
    Vikings
    Registered Users Posts: 2,788 ✭✭✭Vikings


    Jammyd wrote: »
    We recently went sale agreed on our home with the sale price within the valuation range of the EA who is selling it for us, we had the banks panel valuer out last week and were updated from our EA today the bank has sought clarification from the valuer, anyone any idea on what this might mean? This means the purchasers still don't have their loan offer so we are at a standstill until this gets resolved.

    Slight background is we went sale agreed prior to putting the property on the open market, our EA had recently sold another identical house (albeit lower spec finish) in our estate and asked if we wanted to do a private viewing before we did photos, online add etc. We agreed and were delighted within a week to have 3 offers and agreed a price.

    The agreed price is exactly the same amount as the other property in our estate (this one has had contracts exchanged and is about to close in the next 2 weeks however is not on the PPR etc as its so recent).

    I am assuming the issue is there are no price comparables in the area as its pretty much all new houses with extremely low transaction turnover up here due to the newness of the area, however was wondering is this something anyone else has encountered and should we be worried or is there other clarifications i'm not considering?

    On an aside the valuer was very strange, didn't hesitate to make themselves at home, pulled up a chair sat down and started grilling us on a serious amount of queries which were not relevant to the valuation (I flagged these with my EA who agreed this was very odd, I've worked in mortgages, and this is also not the first property I've sold so know the queries were well outside what they complete in a valuations form) we both got a very strange vibe off the guy and hearing this today makes us wonder.

    Do you know if the valuer was appointed by the bank or by the purchasers?

    Possibility obviously there for the valuer to be an associate of the buyers and that's the reason for the extra questions - and could be trying to reduce the sale price


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    #2820
    Jammyd
    Registered Users Posts: 281 ✭✭Jammyd


    Vikings wrote: »
    Do you know if the valuer was appointed by the bank or by the purchasers?

    Possibility obviously there for the valuer to be an associate of the buyers and that's the reason for the extra questions - and could be trying to reduce the sale price

    Yeah it’s a possibility, the valuer did mention they wanted extra pictures requested by the purchasers which we were more than happy for them to take.

    It was the purchasers who brought the delay to the EA’s attention saying the last update they had from their broker was the bank sought clarification from the valuer so seemed genuine on their part they weren’t aware of an issue and they said they would follow up, the purchaser also asked for the valuers details to try and push on so I don’t think they necessarily selected them


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    #2821
    Sweet.Science
    Registered Users Posts: 2,837 ✭✭✭Sweet.Science


    Anybody here get a mortgage through BOI ? How long was their application with their underwriters ?


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