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

tianna · 20-01-2021 8:23pm

extrafluff wrote: »

Is it ok to ask an estate agent that the sellers expectations are for them to accept a bid? We bid 10k under asking, a different offer came in at 5k under asking, we then bid asking price. A different offer came in at 5k over asking. We have maybe 1 or 2 last offers to make before we're at our max.

Yes, we asked an EA the sellers expectation and he had no problem telling us they wanted 5k above the asking price.

But if there are multiple bidders I would have to assume the seller is going to wait and see what the highest offer comes in at rather than going sale agreed once their expectation is hit.

theflash · 20-01-2021 8:54pm

SheepTurtle wrote: »

We paid our booking deposit yesterday and officially sale agreed now ðŸ˜Š it's our forever home and ticks all the boxes so we are delighted! So nervous throughout the whole bidding process but it worked out in our favour.

Can anyone tell me if valuations and surveys are all stopping in level 5 lockdown? I have heard differing things so not sure what will happen or when. Waiting for valuer to contact us as per brokers last message. Does anyone have any recent experience in this if their valuation went ahead in lockdown? Also when is the survey normally completed?

Congratulations.
We had a valuation completed today and have a survey booked in for next week. So yeah they are still continuing.

Markitron · 20-01-2021 9:07pm

An EA just asked me for proof of funds, can someone tell me exactly what this means?

I have AIP at the minute.

Milena009 · 20-01-2021 9:19pm

Markitron wrote: »

An EA just asked me for proof of funds, can someone tell me exactly what this means?

I have AIP at the minute.

Basically that you're good on money so I would provide him with Aip of course with deducted amounts.

CWF · 20-01-2021 9:22pm

How long is HTB taking people to process?

Markitron · 20-01-2021 9:26pm

Milena009 wrote: »

Basically that you're good on money so I would provide him with Aip of course with deducted amounts.

That’s what I was hoping it meant, thanks!

CWF wrote: »

How long is HTB taking people to process?

I’m still getting the error message

Cash_Q · 20-01-2021 10:29pm

extrafluff wrote:

Is it ok to ask an estate agent that the sellers expectations are for them to accept a bid? We bid 10k under asking, a different offer came in at 5k under asking, we then bid asking price. A different offer came in at 5k over asking. We have maybe 1 or 2 last offers to make before we're at our max.

We asked and were told the figure they wanted, which was 5k over asking. We offered this figure and it was accepted.

When selling our EA valued it between 265k and 285k and it went on the market at 265k. Of course we started out wanting 285k, thought we couldnt really afford to sell for less. Bids weren't as fast and frequent as we hoped for and we just really wanted to agree a price so in the end accepted 6k over asking. Luckily the house we bought was at the lower end of our budget so we needed less towards the deposit and could manage with the figure we accepted.

CWF · 21-01-2021 12:25am

Markitron wrote: »

I’m still getting the error message

When did you apply?

lindtee · 21-01-2021 9:54am

Sweetaure wrote: »

Did you have to look further away because you kept being outbid? We’re looking for something rather specific but there have been few house come on the market in the last year or so, and an estate agent is after telling me that they have very little to come on, especially with the lockdown being extended... we’re sale agreed on our current house a few weeks now, but the engineer won’t come out to us, so we’re in limbo...

Was outbid on a number of houses but they were all 10-15 k from the city as I just couldn’t get what I wanted locally within my budget. The location in relation to the city was less important to me in the end, the type of house and plenty of parking (2 sons driving and 1 learning!) were high up the agenda as was having nice walks and outdoor amenities on my doorstep.

Markitron · 21-01-2021 10:30am

CWF wrote: »

When did you apply?

I have been trying to apply since my SoL was issued last week but kept getting the error message, so the application never went through. It seems to be working now though and the application is pending.

narodvale · 21-01-2021 11:29am

We have our closing inspection today at 12.

Aside from looking for obvious things we missed, and taking a meter reading, is there anything else people would advise looking out for?

This is our first home so any advice is greatly appreciated.

Collecting the keys tomorrow, very exciting.

aquinn · 21-01-2021 12:06pm

narodvale wrote: »

We have our closing inspection today at 12.

Aside from looking for obvious things we missed, and taking a meter reading, is there anything else people would advise looking out for?

This is our first home so any advice is greatly appreciated.

Collecting the keys tomorrow, very exciting.

Fabulous, congratulations.

Bins, day/schedule/supplier.

Any contents/crap that are there or missing but included in the contract like white goods or curtains?

Who else had keys over the years? Maybe change the locks, I was advised to do so.

Parking permit if required?

whatever76 · 21-01-2021 12:21pm

aquinn wrote: »

Fabulous, congratulations.

Bins, day/schedule/supplier.

Any contents/crap that are there or missing but included in the contract like white goods or curtains?

Who else had keys over the years? Maybe change the locks, I was advised to do so.

Parking permit if required?

Check the attic if there is one and ensure no surprise rubbish items up there

Ensure Heating/Boiler working.

best of luck !!

The Davestator · 21-01-2021 1:14pm

Just started the process of selling my home.

I have a BER cert of C1 from last year, however, I have since got a new boiler in.

This might bring it up to B3?

My question is; Is it worth getting another one done (€160 cost) or is the BER rating of much importance to buyers. Was this a consideration to you when buying?

It's not a big cost obviously, but just curious.

Thanks

accensi0n · 21-01-2021 1:37pm

The Davestator wrote: »

Just started the process of selling my home.

I have a BER cert of C1 from last year, however, I have since got a new boiler in.

This might bring it up to B3?

My question is; Is it worth getting another one done (€160 cost) or is the BER rating of much importance to buyers. Was this a consideration to you when buying?

It's not a big cost obviously, but just curious.

Thanks

This is just my own thought, not based on any experience.
If it's a house, I definitely think it would be worth paying a couple of hundred to have it bumped up to a B rating. Most houses that have had improvements done seem to be in the C range and having a B would be a differentiator.
I'd be looking to get something else cheapish done as well to ensure the increase, like increasing the attic insulation thickness.

LasersGoPewPew · 21-01-2021 2:00pm

We have been home hunting for the past year in south Dublin. Supply is poor, quality of most properties is poor. We got stuck in a few bidding wars for properties we really liked, but they reached prices which seemed ridiculous so we pulled out. We are not buying a forever home so this plays into our bidding mindset. Competition is fierce for nice properties but I am hopeful this will be our year to buy.

random_banter · 21-01-2021 2:13pm

LasersGoPewPew wrote: »

We have been home hunting for the past year in south Dublin. Supply is poor, quality of most properties is poor. We got stuck in a few bidding wars for properties we really liked, but they reached prices which seemed ridiculous so we pulled out. We are not buying a forever home so this plays into our bidding mindset. Competition is fierce for nice properties but I am hopeful this will be our year to buy.

Same situation as yourself. Prices certainly seem to be ridiculous and comparing them to the PPR figures for the highest peak in 2018, definitely inflated due to the pandemic we feel. We're seeing 3-bed semi d's in South Dublin going for 30-70k over asking at least.

Best of luck - like you, I hope we will get to buy this year. Sitting out the pandemic in a tiny apartment has been a wake up call on what we want for the future.

Fuzzy_Dunlop · 21-01-2021 2:57pm

The Davestator wrote: »

Just started the process of selling my home.

I have a BER cert of C1 from last year, however, I have since got a new boiler in.

This might bring it up to B3?

My question is; Is it worth getting another one done (€160 cost) or is the BER rating of much importance to buyers. Was this a consideration to you when buying?

It's not a big cost obviously, but just curious.

Thanks

Replacing the boiler is one of the best things you can do for a BER (unless it was already pretty new) so I would say it would bump you up. Could always put in more LED bulbs or something like that to try and make sure. I think it would be worthwhile getting the new BER done.

Markitron · 21-01-2021 3:00pm

Could someone explain to me how a booking deposit works with HTB? If I go sale agreed with an EA and they request a transfer, do they then transfer it back to me later? Does it go off the mortgage total? I would rather have that money to spend on stuff after I move.

Milena009 · 21-01-2021 3:12pm

Markitron wrote: »

Could someone explain to me how a booking deposit works with HTB? If I go sale agreed with an EA and they request a transfer, do they then transfer it back to me later? Does it go off the mortgage total? I would rather have that money to spend on stuff after I move.

Hi so,
You never technically see the HTB funds. These go straight to developer who claims these via Revenue portal with access codes you provide the solicitor.

If you go sale agreed, booking deposit paid (let's say 5k) and your total deposit is exactly 30k (so htb) the 5k can be refunded to solicitor to use for fees and such as far as i understand.

Markitron · 21-01-2021 3:44pm

Milena009 wrote: »

Hi so,
You never technically see the HTB funds. These go straight to developer who claims these via Revenue portal with access codes you provide the solicitor.

If you go sale agreed, booking deposit paid (let's say 5k) and your total deposit is exactly 30k (so htb) the 5k can be refunded to solicitor to use for fees and such as far as i understand.

Oh that's great thanks, basically I was worried about it going off the mortgage or deposit in such a way that I couldn't use it.

CWF · 21-01-2021 8:41pm

Help to buy approved this evening after I sent them a 'my enquiry' about getting my application fast tracked

Sweetaure · 21-01-2021 8:53pm

SheepTurtle wrote: »

We paid our booking deposit yesterday and officially sale agreed now ðŸ˜Š it's our forever home and ticks all the boxes so we are delighted! So nervous throughout the whole bidding process but it worked out in our favour.

Can anyone tell me if valuations and surveys are all stopping in level 5 lockdown? I have heard differing things so not sure what will happen or when. Waiting for valuer to contact us as per brokers last message. Does anyone have any recent experience in this if their valuation went ahead in lockdown? Also when is the survey normally completed?

We technically went sale agreed the 2nd week of December (purchaser transferred deposit to EA account, papers were sent to solicitors), but then Christmas happened, and then the new lockdown, so the engineer won’t come out to our house so we can’t proceed with the sale... hoping he’ll be allowed to come at the end of the month... although we have not yet found out next house, so we might have to rent for a few months... life is stressful at the moment!

Sweetaure · 21-01-2021 9:00pm

extrafluff wrote: »

Is it ok to ask an estate agent that the sellers expectations are for them to accept a bid? We bid 10k under asking, a different offer came in at 5k under asking, we then bid asking price. A different offer came in at 5k over asking. We have maybe 1 or 2 last offers to make before we're at our max.

We recently went to see a house that was really nice, it right at the top of our budget. We asked the EA what the vendors’ expectations were, as we knew that they had purchased their next house already (house was in the papers a few weeks prior). The EA told us that the sellers would accept a minimum of 9% below asking, so we went in at 8% below asking, knowing that this gave us some leeway. EA came back with counteroffer of asking price!!! So we increased to 4% below asking. Then 5 days later, the EA emailed me saying that the house had gone sale agreed!

We were really peeved because had we known the sellers’ true expectations, we would have offered closer to asking price. And we didn’t get a chance to increase further after our 2nd offer.

I don’t get the mind games...

givyjoe · 21-01-2021 10:04pm

Sweetaure wrote: »

We recently went to see a house that was really nice, it right at the top of our budget. We asked the EA what the vendors’ expectations were, as we knew that they had purchased their next house already (house was in the papers a few weeks prior). The EA told us that the sellers would accept a minimum of 9% below asking, so we went in at 8% below asking, knowing that this gave us some leeway. EA came back with counteroffer of asking price!!! So we increased to 4% below asking. Then 5 days later, the EA emailed me saying that the house had gone sale agreed!

We were really peeved because had we known the sellers’ true expectations, we would have offered closer to asking price. And we didn’t get a chance to increase further after our 2nd offer.

I don’t get the mind games...

I dont really see that as mind games to be honest. The other bidder may simply have not asked that question and went in at asking.

Reins · 21-01-2021 10:16pm

Sweetaure wrote: »

We recently went to see a house that was really nice, it right at the top of our budget. We asked the EA what the vendors’ expectations were, as we knew that they had purchased their next house already (house was in the papers a few weeks prior). The EA told us that the sellers would accept a minimum of 9% below asking, so we went in at 8% below asking, knowing that this gave us some leeway. EA came back with counteroffer of asking price!!! So we increased to 4% below asking. Then 5 days later, the EA emailed me saying that the house had gone sale agreed!

We were really peeved because had we known the sellers’ true expectations, we would have offered closer to asking price. And we didn’t get a chance to increase further after our 2nd offer.

I don’t get the mind games...

Other bidders offered the asking price. You counter offered 4% below that,correct?
Why did you think they were going to entertain your lower offer?!

Sweetaure · 21-01-2021 10:24pm

Reins wrote: »

Other bidders offered the asking price. You counter offered 4% below that,correct?
Why did you think they were going to entertain your lower offer?!

The owners counter offered at asking price, we don’t know what the other party offered. The EA never said that there was another offer. We were trying to bridge the gap between asking price and our offer. I think that makes sense?

Sweetaure · 21-01-2021 10:28pm

givyjoe wrote: »

I dont really see that as mind games to be honest. The other bidder may simply have not asked that question and went in at asking.

But then wouldn’t you think that the EA would come back to us to give us the option to offer more?

Every time we’ve made an offer on a house, we’ve always been told that we’ve been outbid or our offer was accepted.

Reins · 21-01-2021 10:39pm

Sweetaure wrote: »

The owners counter offered at asking price, we don’t know what the other party offered. The EA never said that there was another offer. We were trying to bridge the gap between asking price and our offer. I think that makes sense?

Sorry, I'm confused by your posts.

" The owners " counter offered on their own property??

If there was an offer of the asking surely there can be only one party it came from " the other party "

Sweetaure · 21-01-2021 10:55pm

Reins wrote: »

Sorry, I'm confused by your posts.

" The owners " counter offered on their own property??

If there was an offer of the asking surely there can be only one party it came from " the other party "

What’s confusing? We made an offer, the owners counteroffered. Happens all the time.

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

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