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

Moving! · 15-09-2020 12:45PM

Gavin shels wrote: »

It's a marathon not a sprint with the mortgage

You're dead right - been paying one since '06 :-(

I'm concerned that if there is a fall in house prices over the next 12 months that we would not have the equity there in 1 or 2 years time to get a top-up. Also, it's a bungalow and short a bedroom for us at the moment. Otherwise, the house needs a fair bit of work, but would be ideal for us.

Shoden · 15-09-2020 01:35PM

Currently have AIP but only really want to move now to take advantage of the EHTB scheme and there's nothing new within my single applicant budget in my area I really love.

Otherwise I'll probably wait until I have a bit more saved up in the new year for a second hand place. I really hate renting since lockdown though!

Markitron · 15-09-2020 03:42PM

Shoden wrote: »

Currently have AIP but only really want to move now to take advantage of the EHTB scheme and there's nothing new within my single applicant budget in my area I really love.

Otherwise I'll probably wait until I have a bit more saved up in the new year for a second hand place. I really hate renting since lockdown though!

There is a decent chance they extend it

brisan · 15-09-2020 03:50PM

michellie wrote: »

I have the drawings for my house we bought in 2008. No idea who we got them from but there in my big "house stuff" folder.

:D

Shoden · 15-09-2020 06:46PM

Markitron wrote: »

There is a decent chance they extend it

I hope you're right!

mojesius · 15-09-2020 08:55PM

Finally and officially closed on our house purchase today. Delighted!

Staying in rental until December as we have a baby arriving soon and moving everything would be far too stressful for us (husband would have to pack, lift and clean everything). Also need front gates and some form of fencing around the garden before we move in to keep our dog from escaping, farm next door.

I'd love to move in right now though! I have no more patience left after this entire experience!

James 007 · 15-09-2020 09:16PM

mojesius wrote: »

Finally and officially closed on our house purchase today. Delighted!

Staying in rental until December as we have a baby arriving soon and moving everything would be far too stressful for us (husband would have to pack, lift and clean everything). Also need front gates and some form of fencing around the garden before we move in to keep our dog from escaping, farm next door.

I'd love to move in right now though! I have no more patience left after this entire experience!

Congrats, tell the husband you want to be in the house by xmas & tell him to get his ass in gear to get it done, it would be great:rolleyes::D

Anonposter2020 · 15-09-2020 09:26PM

mojesius wrote: »

Finally and officially closed on our house purchase today. Delighted!

Staying in rental until December as we have a baby arriving soon and moving everything would be far too stressful for us (husband would have to pack, lift and clean everything). Also need front gates and some form of fencing around the garden before we move in to keep our dog from escaping, farm next door.

I'd love to move in right now though! I have no more patience left after this entire experience!

Congratulations! We're in a similar situation in that we are not moving until December. We've given our 3 months notice and after the stress of actually buying a house I never thought I'd be excited again. But I am, went shopping today (homestore and more is the best!!) and can't wait to move in now!!!

Best of luck to you all in your new home and congratulations as well on the baby

Sweet.Science · 16-09-2020 12:18PM

Valuer coming to inspect my house Friday

Why am i nervous they wont agree to the sale agreed price

cubatahavana · 16-09-2020 12:23PM

Sweet.Science wrote: »

Valuer coming to inspect my house Friday

Why am i nervous they wont agree to the sale agreed price

I am in the same boat, the EA told me that shouldnt be an issue as they have a track of the bids received and of the strong interest in the viewings. it is selling for over asking, so I cannot wait to get that done

Vikings · 16-09-2020 12:36PM

Sweet.Science wrote: »

Valuer coming to inspect my house Friday

Why am i nervous they wont agree to the sale agreed price

Valuer spent a grand total of 2 minutes in our house, took about 4 photos and was done.

Don't sweat it.

Sweet.Science · 16-09-2020 12:38PM

Vikings wrote: »

Valuer spent a grand total of 2 minutes in our house, took about 4 photos and was done.

Don't sweat it.

Good to know. Handy earner for them

Littleredcar · 16-09-2020 12:51PM

Do they generally estimate correctly

cubatahavana · 16-09-2020 02:18PM

Littleredcar wrote: »

Do they generally estimate correctly

I believe that they match the price to the mortgage. I’m buying in a state where there’s a difference of up to 50k in price depending on the row you buy (there are only 3 rows and the houses are separated only 20 meter from each other) 4 houses 725 –> 8 houses 695k —> 4 houses 675k. Same house type, same specs

aquinn · 16-09-2020 03:58PM

Westieatheart wrote: »

Looking for some advice, we went sale agreed on our house about 11 weeks ago and had agreed a closing date of the 25th of this month, the sale while it has progressed has gotten to the position we are in today following a lot of poking and prodding by the estate agent and ourselves, the purchasers are either extremely relaxed or not very organized (they took 2 weeks alone to appoint a solicitor for the purchase after we went sale agreed and then never followed up with the bank to organise the valuation and only pushed to get their loan offer when we refused a second viewing).

This is all within the context of them sending long lists of queries including wanting dimensions of the appliances copies of guarantees and instruction manuals for every appliance and hardware in the property (all reasonable stuff we were happy to provide albeit we thought unusual they sought this info so early in the process i.e pre loan offer)

Long story short we were meant to sign contracts last week, as there solicitor and the purchaser advised they had signed over a week ago however they have still not sent the contracts or the contract monies to my solicitor, we have been pushing to find out what the delay is to send them over (we thought this was a simple process) and eventually we found out yesterday the purchasers don't physically have the contract monies as some of their deposit is being funded as part of the deal they are doing with the bank, I'm not sure if we are getting the full picture however they did include a subject to finance clause in the contract which we were happy with given we knew they required a mortgage, Sorry if im rambling here..

Anyways we have been trying to find a rental and lost out on a number of places. we are afraid to hand over a couple of thousand to an estate agent when we know the sale is not fully secure right now.. we are extremely stressed as the whole deposit debacle only raised its head yesterday after multiple white lies coming from the other party up til now.

My question really is is this normal to be relying on finance for the deposit element of the purchase and are we now in a far more risky situation? The purchaser advised the EA yesterday that they would potentially have the money by the end of the week but I really have lost trust in them at this point. I know we have an option to walk away but the thoughts of having to go through the viewing process etc and the whole thing again for 3 months fills us with dread.

To make matters worse we got offered an ideal rental yesterday, close to where our family lives and ticks every box imaginable but we are super nervous to commit in case we end up having to pay the rent on that plus the mortgage here if this all goes Pete Tong. They want an answer today and money by thursday so we feel under even more pressure now.

I'm confused as I thought to get your loan offer you have to evidence you have the remaining balance of funds so on this basis they had showed the bank they had the finance.. has anyone else been in this situation and have any wise words..

Hi,

Hope there has been some movement for your sake.

I would be concerned that they are stalling/delaying and then at the last minute pull their offer and offer less. At that time they could be hoping that the other interested parties are no longer interested. Would you contact the EA and see if the other bidders are still interested?

Good luck.

8-10 · 16-09-2020 07:37PM

cubatahavana wrote: »

I believe that they match the price to the mortgage. I’m buying in a state where there’s a difference of up to 50k in price depending on the row you buy (there are only 3 rows and the houses are separated only 20 meter from each other) 4 houses 725 –> 8 houses 695k —> 4 houses 675k. Same house type, same specs

Different aspects?

Dublin1210 · 16-09-2020 08:33PM

Finally moved into our first (& final) house after been sale agreed since late January. We were able to drawdown from AIB with my partner being on the wage subsidy scheme. The bank requested our latest payslip & a letter from my partner’s employer (Childcare) stating she’ll return to full wages when the scheme ends.

Thought i’d give some hope to people who are looking to drawdown, while availing of the scheme through no fault of there own. Seems AIB are backing brave, best of luck everyone.

cubatahavana · 16-09-2020 10:30PM

8-10 wrote: »

Different aspects?

Funny enough, the 725 ones have north west gardens and the 675 south east. The 695 have both (4 NW, 4SE)

675 ones are in front of a small apartment block (20 units)

Westieatheart · 17-09-2020 07:03AM

aquinn wrote: »

Hi,

Hope there has been some movement for your sake.

I would be concerned that they are stalling/delaying and then at the last minute pull their offer and offer less. At that time they could be hoping that the other interested parties are no longer interested. Would you contact the EA and see if the other bidders are still interested?

Good luck.

Thanks for your message, we aren't any more advanced from monday

, the EA called the purchaser who was acting like everything was hunky dory and they were going to have the remainder of the security deposit by the end of this week. They wont put this in writing and their solicitor has completely gone off the grid from my solicitor. We have just accepted we may have to go back to the drawing board and reach out to the underbidders. We told the EA that next week was the deadline for contracts and the deposit to be fully transferred or we are moving on and putting the place back on the market which he thought was fair (he also cant gauge what the purchasers tactics are).

We have decided to go ahead with the rental we are offered and worst case scenario we are going to be broke for the next 4 months paying rent and a mortgage but overall if we walkaway from these messers I would be confident we can sell this house, we had 5 off the market bids and never even went on the market originally which tells me their is demand for our home out there if these guys arent willing to push on.

Graham · 17-09-2020 08:40AM

I'd just instruct the EA to put the house back on the market and let your current 'buyers' know.

Westieatheart · 17-09-2020 08:54AM

Graham wrote: »

I'd just instruct the EA to put the house back on the market and let your current 'buyers' know.

do you think so? we were thinking we would do this next week but leave these guys in the race (with the hope they are genuine and this lights a fire) if we got a matching bid then we would accept that and at that point tell the others sod off. thinking along the lines if we have any way of not losing another 3 months of going through this process.

mimimcmc · 17-09-2020 10:43AM

it was all going so smoothly.. too easy tbh

Got engineers report, the extension on the house is not structurally sound, it has too many windows, wall is bowing out and the roof tiles are too heavy, needs a whole new roof really

the engineer mentioned it to the owner when he was there but didn't go into detail, talking to the ea this morning and he said they owners got their own engineer and their engineer said it is structurally sound.. so where do we go from here? sounds like they're not gonna budge on that

givyjoe · 17-09-2020 10:53AM

mimimcmc wrote: »

it was all going so smoothly.. too easy tbh

Got engineers report, the extension on the house is not structurally sound, it has too many windows, wall is bowing out and the roof tiles are too heavy, needs a whole new roof really

the engineer mentioned it to the owner when he was there but didn't go into detail, talking to the ea this morning and he said they owners got their own engineer and their engineer said it is structurally sound.. so where do we go from here? sounds like they're not gonna budge on that

A third opinion/engineer?

Senature · 17-09-2020 11:02AM

mimimcmc wrote: »

it was all going so smoothly.. too easy tbh

Got engineers report, the extension on the house is not structurally sound, it has too many windows, wall is bowing out and the roof tiles are too heavy, needs a whole new roof really

the engineer mentioned it to the owner when he was there but didn't go into detail, talking to the ea this morning and he said they owners got their own engineer and their engineer said it is structurally sound.. so where do we go from here? sounds like they're not gonna budge on that

Sorry to hear this, it smells like BS to me. Ask for a copy of the report from the owner's engineer stating that the extension is structurally sound. If it's all legit, they should have no problem providing this. It's extremely unusual for an owner to pay to have a structural survey done on their own house, when and why did they get this done?

mimimcmc · 17-09-2020 11:07AM

Senature wrote: »

Sorry to hear this, it smells like BS to me. Ask for a copy of the report from the owner's engineer stating that the extension is structurally sound. If it's all legit, they should have no problem providing this. It's extremely unusual for an owner to pay to have a structural survey done on their own house, when and why did they get this done?

We've asked for the report, EA is gonna get it and send it over.
Our engineer mentioned the issue to them when he was at the house, but didn't go into detail so that's when they decided to get their own done.

If we bought it and it turns out it is not structurally sound and we have an issue with it, we probably wouldn't have any come back would we as our report pointed it out?
Would the bank even give us the mortgage knowing this? do we have to tell them?

whatever76 · 17-09-2020 11:16AM

mimimcmc wrote: »

We've asked for the report, EA is gonna get it and send it over.
Our engineer mentioned the issue to them when he was at the house, but didn't go into detail so that's when they decided to get their own done.

If we bought it and it turns out it is not structurally sound and we have an issue with it, we probably wouldn't have any come back would we as our report pointed it out?
Would the bank even give us the mortgage knowing this? do we have to tell them?

I feel your pain - I had this happen to me as well with regards engineering report ( twice !) , I was in such a dilemma on it with EA pushing me but I listened to my engineer and walked away ( the doubt is set at this point and it not worth it ! ) and no regrets now it was torture at the time though ... if you want get another Engineer to look at it for you to get another opinion prob better than the sellers TBH .. you want the ones working for you

PommieBast · 17-09-2020 11:59AM

awec wrote: »

Well, for one thing no house is going to match the plans exactly, it doesn't matter how perfect the developer is. If the plans say your living room wall is 3000mm long and it's actually 2980mm long you can be sure that there'll be someone complain.

My bugbear is that a lot of EAs don't even provide an outline of the property.

Senature · 17-09-2020 12:38PM

mimimcmc wrote: »

We've asked for the report, EA is gonna get it and send it over.
Our engineer mentioned the issue to them when he was at the house, but didn't go into detail so that's when they decided to get their own done.

If we bought it and it turns out it is not structurally sound and we have an issue with it, we probably wouldn't have any come back would we as our report pointed it out?
Would the bank even give us the mortgage knowing this? do we have to tell them?

What kind of comeback you'd be looking for? From who? You've been advised of this by a qualified professional, it's what you asked them to do. It's a blow to have this result from your survey, I'm sure it's horribly disappointing for you, but even IF the seller was willing to renegotiate on price, would you want to have to do all the work required to fix it?

Edited to add:
Another point to consider is that if you buy this property, you will at some point be selling it. Those buyers will get a survey done and be negotiating any problems that show up off the price you want to sell it for too. Or just walking away and buying a house with fewer issues.

mimimcmc · 17-09-2020 01:21PM

whatever76 wrote: »

I feel your pain - I had this happen to me as well with regards engineering report ( twice !) , I was in such a dilemma on it with EA pushing me but I listened to my engineer and walked away ( the doubt is set at this point and it not worth it ! ) and no regrets now it was torture at the time though ... if you want get another Engineer to look at it for you to get another opinion prob better than the sellers TBH .. you want the ones working for you

we just got their report and it clearly states there is an issue, but it says its from poor construction.
the issue is not in need of fixing urgently.
it seems they had their engineer report done before ours..they knew something was wrong with it i'd say..

Senature wrote: »

What kind of comeback you'd be looking for? From who? You've been advised of this by a qualified professional, it's what you asked them to do. It's a blow to have this result from your survey, I'm sure it's horribly disappointing for you, but even IF the seller was willing to renegotiate on price, would you want to have to do all the work required to fix it?

Edited to add:
Another point to consider is that if you buy this property, you will at some point be selling it. Those buyers will get a survey done and be negotiating any problems that show up off the price you want to sell it for too. Or just walking away and buying a house with fewer issues.

defo don't want to have to do the work ourselves obviously, they defo ain't doing it cuz they think nothing is wrong.
Engineer said it potentially be fixed for 5k, but we defo don't have that right now (would look into in the future for peace of mind, not just for resale)

Westieatheart · 17-09-2020 02:52PM

Graham wrote: »

I'd just instruct the EA to put the house back on the market and let your current 'buyers' know.

So quick update contracts landed today but the security deposit was short their solicitor had just crossed out the balance o/s and wrote and amended version (my solicitor was of the opinion that this was not standard practice). we've now signed so subject to them not having issues on their mortgage drawdown we hope we are back on track..

We are too nervous to celebrate just yet but baby steps as they say..

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

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