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

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    #3572
    CarMc
    Registered Users Posts: 74 ✭✭CarMc


    Whatdoyoumean wrote: »
    Solicitor requested drawdown of the mortgage and hopefully getting keys to house this week. Not sure where possible new restrictions will leave us. What were other people’s experiences during lockdown and collecting keys/moving in?

    We moved last week, level 3 lockdown but we moved from one county to another so had to drive through checkpoint a lot! Explained we were moving and guards waved us on and wished us well.

    Can't imagine level 4 or 5 impacting it unless solicitors, banks and estate agents all close up shop but can't see that happening.


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    #3573
    anon_for_today
    Registered Users Posts: 5 ✭anon_for_today


    Whatdoyoumean wrote: »
    Solicitor requested drawdown of the mortgage and hopefully getting keys to house this week. Not sure where possible new restrictions will leave us. What were other people’s experiences during lockdown and collecting keys/moving in?

    We’re supposed to get keys this week also, does anyone know if house movers are considered essential service? Were they operating during first lock down? Wondering how in the name of jaysis we’ll manage the move without them!


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    #3574
    GrumPy
    Registered Users Posts: 6,557 ✭✭✭GrumPy


    anon_for_today wrote: »
    Wondering how in the name of jaysis we’ll manage the move without them!

    Rent a van? Ask friends and family for a dig out with their cars?


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    #3575
    td2008
    Registered Users Posts: 478 ✭✭td2008


    They were operating during lockdown back in June anyway


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    #3576
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Meandyou999 wrote: »
    I am getting a survey carried out on the house by a chartered surveyor, will he calculate the rebuild cost for me for when i am taking out house insurance. Also do i have to insure the house to cover the mortgage amount. If say i take out a mortgage of 250k and have put a deposit of 50k if God forbid i had to make a claim and they pay out the 250k mortgage is paid but i am left homeless.

    You insure for the rebuild cost. The valuer will tell you the rebuild cost


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    #3577
    anon_for_today
    Registered Users Posts: 5 ✭anon_for_today


    GrumPy wrote: »
    Rent a van? Ask friends and family for a dig out with their cars?

    Yeah, that would be the ideal, but the whole no-social-contacts craic rather hard to maintain when you’re doing a to-me-to-you with a king size divan bed down the stairs 😂


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    #3578
    Leozord
    Registered Users Posts: 75 ✭✭Leozord


    CarMc wrote: »
    Can't imagine level 4 or 5 impacting it unless solicitors, banks and estate agents all close up shop but can't see that happening.

    That's what I'm afraid of

    on level 5, are solicitors working "normally"?


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    #3579
    anon_for_today
    Registered Users Posts: 5 ✭anon_for_today


    Leozord wrote: »
    That's what I'm afraid of

    on level 5, are solicitors working "normally"?

    I believe so; ours told us she was in office every day throughout initial lockdown


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    #3580
    Littleredcar
    Registered Users Posts: 184 ✭✭Littleredcar


    anon_for_today wrote: »
    I believe so; ours told us she was in office every day throughout initial lockdown

    They are essential services


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    #3581
    Meandyou999
    Registered Users Posts: 39 ✭Meandyou999


    cubatahavana wrote: »
    You insure for the rebuild cost. The valuer will tell you the rebuild cost

    What if the mortgage is bigger than the rebuild cost then the insurance wont pay off the mortgage.


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    #3582
    ElitesTeam
    Registered Users Posts: 243 ✭✭ElitesTeam


    cubatahavana wrote: »
    You insure for the rebuild cost. The valuer will tell you the rebuild cost

    If a house is worth(market value) 300k and rebuild is valued at 200k. Then a person should insure for 200k + contents or 300k + contents?


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    #3583
    awec
    Administrators Posts: 53,438 Admin ✭✭✭✭✭awec


    Meandyou999 wrote: »
    What if the mortgage is bigger than the rebuild cost then the insurance wont pay off the mortgage.
    ElitesTeam wrote: »
    If a house is worth(market value) 300k and rebuild is valued at 200k. Then a person should insure for 200k + contents or 300k + contents?

    Your home insurer wants to know how much it would cost to rebuild your house if something terrible happened.

    Home insurance is not there to cover your mortgage, it's there to cover the building itself.

    I believe the rebuild cost will come from the developer, not the valuer (who will just give you the market value).


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    #3584
    Pink11
    Registered Users Posts: 723 ✭✭✭Pink11


    A word of warning to anyone selling from an eager, mortgage approved buyer... do your research on your EA so you end up getting the best sale price on your home.

    As a buyer, I have been cancelled on, 'forgotten about', finally replied to 4 weeks after I asked multiple times for a viewing. Maybe it's the covid and work from home situation stretching their resources but it's crazy to think how much money they could be losing for you. EA's don't seem to know much about the houses we have gone to see. They just stand there and let you in. Easy job if you ask me!

    I'm mortgage approved, FTB with no chain. Really eager to buy. I'll be very cautious myself if I'm ever selling.

    From my experience of looking for the last 3-4 months, it's a very good time to sell. All houses are going for well over asking.


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    #3585
    cojomo2
    Registered Users Posts: 3,214 ✭✭✭cojomo2


    cojomo2 wrote: »
    Anyone know how level 4 or 5 will impact house viewings?

    Anyone know?


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    #3586
    Claw Hammer
    Registered Users Posts: 6,163 ✭✭✭Claw Hammer


    cubatahavana wrote: »
    You insure for the rebuild cost. The valuer will tell you the rebuild cost

    You should insure for whichever is the higher of market value or rebuild (reinstatement) cost. If you get an oil spill, it might be that the cost of the decontamination works and rebuilding are greater than the market value, in which case you will simply be given market value.


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    #3587
    Shoden
    Registered Users Posts: 90 ✭✭Shoden


    Just going to ramble here: My current situation is that I have a booking deposit down on a place for the last few weeks but it's not ready until next summer, so there doesn't seem to be any rush with anything. I have informed my broker and solicitor that I have gone sale agreed but nothing seems to be happening. Am I supposed to be doing something? Who knows! I'm hoping a house in the development comes up sooner than mine is ready though cause I'm good to go now!


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    #3588
    Shoden
    Registered Users Posts: 90 ✭✭Shoden


    MattDamonIsOK wrote: »
    Similar situation to you Shoden.

    Myself and her are moving out of Dublin apartment, going to rent it.

    Taking a house up north where I’ve family in a new build development, 4 bed detached £210K. Excellent value compared with the sky high prices in surrounding areas outside of Dublin down here.

    The house were being told will be ready on March/April 2021.

    I’m all good to go with the mortgage, but wondering whenever the 6 months expires, is applying for a mortgage extension a big issue? Will they look at everything again if the house isn’t ready? That would be awful to have it pulled from under you At that stage. Hoping an extension is fairly straight forward

    I think the extension situation is why my broker doesn't seem to want to hurry things. He doesn't want to go to offer yet because it's too far out but obviously I don't want to lose the house so I want to sign the contract. Tis all very confusing to know what to do!


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    #3589
    thunderdog
    Registered Users Posts: 2,675 ✭✭✭thunderdog


    MattDamonIsOK wrote: »
    Similar situation to you Shoden.

    Myself and her are moving out of Dublin apartment, going to rent it.

    Taking a house up north where I’ve family in a new build development, 4 bed detached £210K. Excellent value compared with the sky high prices in surrounding areas outside of Dublin down here.

    The house were being told will be ready on March/April 2021.

    I’m all good to go with the mortgage, but wondering whenever the 6 months expires, is applying for a mortgage extension a big issue? Will they look at everything again if the house isn’t ready? That would be awful to have it pulled from under you At that stage. Hoping an extension is fairly straight forward

    BOI requested the following for my mortgage extension recently:
    -up to date salary certificate
    -Two recent payslips
    -6 month statements for any non boi accounts
    -signed declaration

    Straightforward enough assuming no change in circumstances


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    #3590
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    I suppose viewings will be cancelled now, won't they?


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    #3591
    PommieBast
    Registered Users Posts: 2,591 ✭✭✭PommieBast


    cubatahavana wrote: »
    I suppose viewings will be cancelled now, won't they?
    I expect any prohibition will be flouted in some quarters. There were recent viewings in my apartment block even though the management company has a no visitors policy.


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    #3592
    Bluefoam
    Registered Users Posts: 7,717 ✭✭✭Bluefoam


    cubatahavana wrote: »
    I suppose viewings will be cancelled now, won't they?

    Housing is seen as a priortity. It is likely that house viewings, handovers etc. will continue under solcial distancing rules.

    Also solicitors are considered a essential service and will continie to operate.


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    #3593
    SteelyDanJalapeno
    Registered Users Posts: 14,240 ✭✭✭✭SteelyDanJalapeno


    Hi,

    We closed on our house Friday last week, as that is the date the vendors side added to the contracts, we busted our balls to get everything in order, but we got there, and transferred funds to the solicitors client account Friday morning. Our solicitor and theirs bank in the same big bank, so I'm sure it went through on the same day, any way they claimed it dont, and it ran into the weekend.

    Our solicitor received the deeds this morning, all looks good and they now have the funds received.

    However, the owner is still in the house and claims he cant leave until tomorrow, I find this very frustrating for a number of reasons :

    - We own the house now
    - We worked very hard to meet their deadline of Friday
    - We took today off to move, but it was only at 3PM they told us they need until tomorrow
    - We hired a van at quite a cost for the move

    He obviously knew last week he wasnt ready, and in my opinion should have told us last week, I would be much more accepting of it if that was the case.


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    #3594
    Newdawn11
    Registered Users Posts: 38 ✭Newdawn11


    Hi, does anyone know current wait times for Loan pack with EBS. Got fully underwritten approval with 3 conditions over 2 weeks ago. Fully complied with conditions immediately. They then asked for up to date statements which we supplied a week ago and still no loan letter. Getting anxious now that still nothing. Thanks


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    #3595
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Newdawn11 wrote: »
    Hi, does anyone know current wait times for Loan pack with EBS. Got fully underwritten approval with 3 conditions over 2 weeks ago. Fully complied with conditions immediately. They then asked for up to date statements which we supplied a week ago and still no loan letter. Getting anxious now that still nothing. Thanks

    With KBC took us 13 working days


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    #3596
    rain on
    Registered Users Posts: 1,732 ✭✭✭rain on


    Bluefoam wrote: »
    Housing is seen as a priortity. It is likely that house viewings, handovers etc. will continue under solcial distancing rules.

    Also solicitors are considered a essential service and will continie to operate.


    +1. I went sale agreed during the previous lockdown (March and April). It added a lot of delays then, but EAs, solicitors, and banks should all have their processes and procedures worked out for this kind of thing now. In my case, there were huge delays from the bank in April/May, but plenty other parts of the process happened very quickly even under the strictest lockdown conditions.


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    #3597
    itsusuallyjazz
    Registered Users Posts: 72 ✭✭itsusuallyjazz


    First time buyer here and I have just made my first offer on a house! am shaking, this is such a big commitment


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    #3598
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    itsusuallyjazz wrote: »
    First time buyer here and I have just made my first offer on a house! am shaking, this is such a big commitment

    Good luck! if it goes similar to us, every week you'll have a new thing happening (sometimes stressful, sometimes good)


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    #3599
    breadmonster
    Registered Users Posts: 220 ✭✭breadmonster


    rain on wrote: »
    +1. I went sale agreed during the previous lockdown (March and April). It added a lot of delays then, but EAs, solicitors, and banks should all have their processes and procedures worked out for this kind of thing now. In my case, there were huge delays from the bank in April/May, but plenty other parts of the process happened very quickly even under the strictest lockdown conditions.

    Interesting i guess my one was cancelled so because its currently a buy to let property.


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    #3600
    Starlord_01
    Registered Users Posts: 443 ✭✭Starlord_01


    Made an offer on a property a week ago, other bidders pulled out.

    EA wasn't doing anymore viewings and was encouraging vendors to sell who then said they wanted the weekend to mull it over but haven't heard anything since? :confused:


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    #3601
    ELM327
    Registered Users Posts: 21,497 ✭✭✭✭ELM327


    SteelyDanJalapeno wrote: »
    Hi,

    We closed on our house Friday last week, as that is the date the vendors side added to the contracts, we busted our balls to get everything in order, but we got there, and transferred funds to the solicitors client account Friday morning. Our solicitor and theirs bank in the same big bank, so I'm sure it went through on the same day, any way they claimed it dont, and it ran into the weekend.

    Our solicitor received the deeds this morning, all looks good and they now have the funds received.

    However, the owner is still in the house and claims he cant leave until tomorrow, I find this very frustrating for a number of reasons :

    - We own the house now
    - We worked very hard to meet their deadline of Friday
    - We took today off to move, but it was only at 3PM they told us they need until tomorrow
    - We hired a van at quite a cost for the move

    He obviously knew last week he wasnt ready, and in my opinion should have told us last week, I would be much more accepting of it if that was the case.


    If you have the deeds and own the house then they are trespassing. Pursue it via your solicitor.


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