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

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    #3722
    GrumPy
    Registered Users Posts: 6,557 ✭✭✭GrumPy


    cubatahavana wrote: »
    That I’d call taking the p**s

    Tell me about it. Approx. 20 pre contratual questions raised, most answered. However, my solicitor advised he is waiting on a document requested from the land registry that 'could take weeks because of COVID'. I don't even know what it is for.
    At this point, I'd sign anything to get the keys. Our mortgage offer expires on Dec 26th, and most banks stop lending by the second week of December each year, so if things don't work themselves out during Nov, we are knackered.

    We are also technically homeless right now, and relying on temporary accomodation with friends from tomorrow night. I've illustrated my pain with a timeline, hopefully no-one else has to go through this long of a wait.


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    #3723
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    GrumPy wrote: »
    Tell me about it. Approx. 20 pre contratual questions raised, most answered. However, my solicitor advised he is waiting on a document requested from the land registry that 'could take weeks because of COVID'. I don't even know what it is for.
    At this point, I'd sign anything to get the keys. Our mortgage offer expires on Dec 26th, and most banks stop lending by the second week of December each year, so if things don't work themselves out during Nov, we are knackered.

    We are also technically homeless right now, and relying on temporary accomodation with friends from tomorrow night. I've illustrated my pain with a timeline, hopefully no-one else has to go through this long of a wait.

    I feel your pain

    Went to solicitor to sign loan offer acceptance, as it was going to lapse. Purchasers signed contracts (supposedly) last Wednesday (9 days ago). My solicitor has not received them yet. I’m beyond pissed off


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    #3724
    Leozord
    Registered Users Posts: 75 ✭✭Leozord


    by the way, when ye transfer the deposit amount to your solicitor, how you do that when it is over 10K?

    drop over a branch and fill the transfer form?

    or do it in instalments?

    I had to transfer 1/3 each day due to the transfer limit with BOI... when I went to a branch, they told me it was not possible to increase the limit of a (online) transfer wth


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    #3725
    Skylinehead
    Registered Users Posts: 11,690 ✭✭✭✭Skylinehead


    GrumPy wrote: »
    Tell me about it. Approx. 20 pre contratual questions raised, most answered. However, my solicitor advised he is waiting on a document requested from the land registry that 'could take weeks because of COVID'. I don't even know what it is for.
    At this point, I'd sign anything to get the keys. Our mortgage offer expires on Dec 26th, and most banks stop lending by the second week of December each year, so if things don't work themselves out during Nov, we are knackered.

    We are also technically homeless right now, and relying on temporary accomodation with friends from tomorrow night. I've illustrated my pain with a timeline, hopefully no-one else has to go through this long of a wait.

    I can do one better (worse?): Sale agreed 17 January, keys yesterday.

    Whole host of delays, some my fault (got a bit of money off when Covid was hitting), but mostly it was the vendor deciding to convert the title from leasehold to freehold midway through. Dublin City Council took 4 months+ to get that sorted. At least I don't have to do it, and apparently the sale would be complicated if that wasn't done.

    Still, finally done, so delighted :cool:


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    #3726
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Leozord wrote: »
    by the way, when ye transfer the deposit amount to your solicitor, how you do that when it is over 10K?

    drop over a branch and fill the transfer form?

    or do it in instalments?

    I had to transfer 1/3 each day due to the transfer limit with BOI... when I went to a branch, they told me it was not possible to increase the limit of a (online) transfer wth

    The polite way to do it is through a branch. Do it once and don’t keep the purchaser waiting


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    #3727
    VegetaIRL8e
    Registered Users Posts: 92 ✭✭VegetaIRL8e


    Anyone know the answer to this "technicality" id appreciate it.
    As an e.g Got my AIP with me having 60k in savings. Ive now gone through to sale agreed on a place, however used 10k of the savings for the booking deposit + solicitor fees. When the bank ask for the proof of "balance of funds" Im assuming this is only the balance of whats what I need to make up once their part is paid, correct? they dont expect the 60k still to be there?


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    #3728
    Springy Turf
    Closed Accounts Posts: 173 ✭✭Springy Turf


    VegetaIRL8e wrote: »
    Anyone know the answer to this "technicality" id appreciate it.
    As an e.g Got my AIP with me having 60k in savings. Ive now gone through to sale agreed on a place, however used 10k of the savings for the booking deposit + solicitor fees. When the bank ask for the proof of "balance of funds" Im assuming this is only the balance of whats what I need to make up once their part is paid, correct? they dont expect the 60k still to be there?

    My guess would be the booking deposit goes towards to cost of the house, so this is part of your balance of funds. The solicitors fees on the other hand will not be going towards the house, so my guess is you'll need that separately.


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    #3729
    michellie
    Registered Users Posts: 2,691 ✭✭✭michellie


    Everything sorted with the bank since Wednesday, the mortgage advisor said it's taking 7days for the letter of offer to be sent out so hopefully that'll be here next week. Our purchasers signed their contract yesterday so it's in the post. And our solicitor received the contract for the new house today.


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    #3730
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Solicitor said he received signed contracts from purchasers. Signing sale and purchase of new home on Monday. Time for a glass of wine with the wife


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    #3731
    AdesR
    Registered Users Posts: 5 ✭AdesR


    Currently playing the waiting game =\

    Went sale agreed end august, and finally had the contracts on 5 October.

    As this was a pyrite affected property we need to have the pyrite green cert or the place is not eligible for a mortgage.
    The EA said they kept it in the vault with the Deeds, my solicitor says they didn't receive it with them.
    Requested the documentation, and it's been complete radio silence for 4 weeks.

    Either messages are being dropped somewhere in this game of chinese whispers between our solicitor, their solicitor and the vendor.
    Or, they don't actually have the pyrite green cert and this thing will fall through.

    Doesn't seem like we're going to make our hoped for date in December =\


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    #3732
    Darc19
    Registered Users Posts: 3,817 ✭✭✭Darc19


    sanfranbest wrote: »
    Why does it take so long to purchase a property in Ireland??????

    I bought a house in the US a few years ago,
    Viewed it on a Monday morning, Made an offer and it was accepted Monday afternoon.
    Signed all paperwork on Tuesday,
    The sale was recorded on Thursday at 10am and I had the keys and moved in Thursday afternoon.
    So four days from viewing to moving in.
    The house was vacant,, so that helped speed things up.
    Can be done in just two weeks here in above situation.

    I bought a small investment property earlier this year on bidx1, auction was on a Thursday, I had the keys two weeks later.

    1. Seller (receiver) had all docs ready and you could view them before auction.

    2. No loan finance involved

    3. Both sides had solicitors that were efficient


    In the US it is simpler than here, but it still takes 4-8 weeks to get legals completed unless a receiver type sale where everything is ready to go.


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    #3733
    Sweet.Science
    Registered Users Posts: 2,837 ✭✭✭Sweet.Science


    Signing for my house sale next week .

    How long after that do I have before I have to get out ?


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    #3734
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Sweet.Science wrote: »
    Signing for my house sale next week .

    How long after that do I have before I have to get out ?

    If you mean that you’re signing contracts, you will set the closing date. It will be negotiated usually with the purchasers, as far as I know


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    #3735
    Leozord
    Registered Users Posts: 75 ✭✭Leozord


    cubatahavana wrote: »
    Solicitor said he received signed contracts from purchasers. Signing sale and purchase of new home on Monday. Time for a glass of wine with the wife

    now how long until you handle the keys over?


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    #3736
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Leozord wrote: »
    now how long until you handle the keys over?

    We want to move to our new build beginning of December. Need to check with foreman first. If not, after christmas

    Don’t know how it will go with the purchasers, but they’ve put us through a bit of stress, so we will see


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    #3737
    dev_ire
    Registered Users Posts: 157 ✭✭dev_ire


    Is the only advantage of having a BOI current account to pay your BOI mortgage that if you set it to pay out on 29th it pays the same day? You still will pay 6 euro per month fees starting this month right? Can you set your mortgage to pay out on 29th/30th or does it need to be 28th or is it smart enough to pay in Feb?


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    #3738
    Cash_Q
    Registered Users Posts: 1,920 ✭✭✭Cash_Q


    squareboy007 wrote:
    The contracts are signed on the house we are buying but it is currently going through Probate in Dublin.


    We're in a very similar situation but dates a little behind you, sold our house 13th Oct and living with my parents. Probate application accepted 14th September as far as we know. Would love to hear how you get on, we are sick of waiting but not much we can do about it. Everything else is in order, contracts signed on both sides and loan offer in place so hopefully once probate is granted the finance can be drawn down quickly and we can get the keys.


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    #3739
    Dolbhad
    Registered Users Posts: 782 ✭✭✭Dolbhad


    Cash_Q wrote: »
    We're in a very similar situation but dates a little behind you, sold our house 13th Oct and living with my parents. Probate application accepted 14th September as far as we know. Would love to hear how you get on, we are sick of waiting but not much we can do about it. Everything else is in order, contracts signed on both sides and loan offer in place so hopefully once probate is granted the finance can be drawn down quickly and we can get the keys.

    Probate in Dublin probate office is about 8 weeks at moment. However if they raise queries, it delays things as information is gotten and submitted back in for review. The probate office in Dublin if you ring have a message set up every week to let people know what week they are dealing with and the time it takes. If you know when the sellers solicitor put in grant of probate, ring the office tomorrow and see if they are dealing with that week yet. Than take 8 weeks from it.


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    #3740
    Cash_Q
    Registered Users Posts: 1,920 ✭✭✭Cash_Q


    Dolbhad wrote:
    Probate in Dublin probate office is about 8 weeks at moment. However if they raise queries, it delays things as information is gotten and submitted back in for review. The probate office in Dublin if you ring have a message set up every week to let people know what week they are dealing with and the time it takes. If you know when the sellers solicitor put in grant of probate, ring the office tomorrow and see if they are dealing with that week yet. Than take 8 weeks from it.

    That's really helpful, thank you!

    For what its worth for anyone reading, here is our timeline for both sale/purchase as second time buyers

    Sale:
    House on market 2nd July
    Sale agreed 5th August
    Contracts signed our end 25th September
    Keys handed over and sale closed 13th October (original closing date of 2nd October delayed by slow drawdown of funds, buyer financed by PTSB)

    Purchase:
    House on market 10th July
    Sale agreed 30th July
    Contracts signed our end 25th September, their end somewhere between 2nd and 13th October
    Awaiting grant of probate...

    We had the advantage of buying through the same estate agent that was selling our house so they accepted our offer before we had accepted one on our own house.


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    #3741
    Whatdoyoumean
    Registered Users Posts: 18 ✭Whatdoyoumean


    Does anybody have any experience waiting on funds to be cleared? Our solicitor transferred the funds to the vendors solicitor at the end of last week, they have received them but waiting for them to be cleared.

    What does this mean in practice and how long does this generally take?


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    #3742
    cnocbui
    Registered Users Posts: 19,762 ✭✭✭✭cnocbui


    Did they use a bank cheque for the transfer?


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    #3743
    Cian59
    Registered Users Posts: 119 ✭✭Cian59


    Anyone have a typical timeline for Vendor solicitor to send contracts over. I've just been sitting around waiting but no news.


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    #3744
    michellie
    Registered Users Posts: 2,691 ✭✭✭michellie


    Cian59 wrote: »
    Anyone have a typical timeline for Vendor solicitor to send contracts over. I've just been sitting around waiting but no news.

    Our offer was accepted Oct 19th and our solicitor received the contract Oct 29th.


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    #3745
    GrumPy
    Registered Users Posts: 6,557 ✭✭✭GrumPy


    Cian59 wrote: »
    Anyone have a typical timeline for Vendor solicitor to send contracts over. I've just been sitting around waiting but no news.


    It's really how long is a piece of string unfortunately. Sometimes they can be turned around in days. We went Sale Agreed on August 5th, and still have no contracts....


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    #3746
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Contracts of sale signed, contracts of purchase signed. Now we need to check with the foreman if the house will be ready in the next 4 weeks or so so we can agree a closing date


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    #3747
    Leozord
    Registered Users Posts: 75 ✭✭Leozord


    Cian59 wrote: »
    Anyone have a typical timeline for Vendor solicitor to send contracts over. I've just been sitting around waiting but no news.

    I've got sale agreed on the 5th of September, got the contract around the 26th


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    #3748
    Meraf
    Registered Users Posts: 42 ✭Meraf


    Cian59 wrote: »
    Anyone have a typical timeline for Vendor solicitor to send contracts over. I've just been sitting around waiting but no news.

    I'm on the same boat, Sale agreed on 28th of Sept . Still waiting for contract from vendors solicitor..


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    #3749
    GrumPy
    Registered Users Posts: 6,557 ✭✭✭GrumPy


    Meraf wrote: »
    I'm on the same boat, Sale agreed on 28th of Sept . Still waiting for contract from vendors solicitor..

    That was last week, you'll probably be waiting a wee bit longer... Here's hoping no though!


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    #3750
    Meraf
    Registered Users Posts: 42 ✭Meraf


    GrumPy wrote: »
    That was last week, you'll probably be waiting a wee bit longer... Here's hoping no though!

    GrumPy - a month and a week now :) 28th of Septembert but reading how long it takes you might be right that waiting time might be much longer


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    #3751
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    Our timeline so far:

    Sale

    House put for sale: 30/07/20
    Sale Agreed: 5/09/20
    Contracts sent: around 10-12 september
    Contracts signed by purchaser: 22/10/2020
    Contracts returnd by purchaser:30/10/2020
    Contracts signed by us: 2/11/2020



    Purchase

    Sale Agreed: 13/08/20 (with letter from broker instead of AIP)
    AIP: 20/08/20
    Received contracts: 25/08/20
    Loan offer: 06/09/2020
    Signed contracts: 2/11/20


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