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

MattS1 wrote: »

I get it & fair enough I may have put it a bit too high at 450k. But that house specifically went for 65k over asking & definitely was underpriced to get a bidding war going.

I'd be curious to know also why some of the newer estates are selling for 60/70k more than Carton Court. Obviously they are A rated but would that be enough for this large gap? (HTB excluded as these are 2nd hand built in the last 5 years). e.g a 3 bed in Moyglare semi for 395k vs 4 bed CC at 385k

Smaller rooms in general , older heating systems and older style layouts. Decor likely to be older too and often fewer bathrooms, no ensuite etc.

Padre_Pio wrote: »

Fixtures and fittings are older and more worn, probably need to redo the kitchen / bathrooms, carpets, paint etc.
The benefit is the gardens may be larger and more mature and any problems with the house are usually fixed, whereas a new build may have snags.

Some people just want to move in and live, no interest in maintenance and redecorating.

Problems usually fixed? Wouldn't count on it. Many second hand houses come with bigger problems than a few snags (that the builders are going to fix anyway)

I emailed an agent about viewing a house and they have come back to me and said they have a video they can send on but first I would have to provide proof of mortgage approval or proof of funds - so I don't get to see the property in person and to even see the video of the house, i have to give them proof of funds? Is this the way things are now?

leahyl wrote: »

I emailed an agent about viewing a house and they have come back to me and said they have a video they can send on but first I would have to provide proof of mortgage approval or proof of funds - so I don't get to see the property in person and to even see the video of the house, i have to give them proof of funds? Is this the way things are now?

tell them to shove it.

I'm currently selling and finding the process just as frustrating as buyers. I wouldn't trust someone bidding without seeing. You only ever buy a property if you can get a feel for it and see yourself living there. I would assume anyone who bids up will try to pull out or renegotiate once they see real life. I'd be fairly sure some of these bids are just people looking to be higher up the EAs list once viewings commence without making any real commitment.

Edit- the number of requests we are getting for viewing is huge and I'm all for the EA trying to whittle down the numbers to serious potential purchasers becuase I don't want a small army through my door, but I'm very aware that looking for proof of fund would exclude me from looking at other houses, since I still have my own to sell. And I'm aware that people are bidding to look serious when they may not be. I would rather see the EAs engage better with potential buyers and try fix me up with a smaller pool of interested parties.

Reins wrote: »

Couldn't agree more with you and I've posted about this being a nightmare for vendors.

An estate agent I know had 2 sales fall through last week within an hour of each other.
The scenario you suggest is what happened (imo)in the one I've mentioned.

In all the talk of a buyer's market or seller's market people forget that dysfunction is good for nobody. I just want to move near my parents and can't for now, and I'm sure there's someone wants to buy mine for the same reason and can't for now.

I'm looking to buy also but luckily I viewed a house in December when things were less strict and am sale agreed. Seller was willing to wait for mine to sell but I'm not sure he anticipated the (probably) five months of lock down to follow.

Webster29 wrote: »

I'm looking to buy also but luckily I viewed a house in December when things were less strict and am sale agreed. Seller was willing to wait for mine to sell but I'm not sure he anticipated the (probably) five months of lock down to follow.

Best of luck,hope you catch a break with it.

Teacher2020 wrote: »

We are sale agreed on the house we are buying since 1st week of March 2020. Luckily house we are buying are happy to wait. We have had 2 sales on our own house fall through since then. Currently sale agreed on this sale since end of September. Solicitors are literally driving me insane bit by bit. They still won't give us a closing date. We have signed both contracts 2 weeks ago but our solicitor still hasn't sent over contracts to the house we are buying and won't give me an answer of when they will be sent! Haven't sent mortgage documents to bank either! I've had more angry cries over the last week than I think I've had in the last 10 years! Already had to renew our mortgage offer once- I'll flip if we have to do it again! I'll be fit for nothing after this process- never again!

I feel for you!! Best of luck with everything...

MattS1 wrote: »

Are viewings still closed until April 5th now?

Assumption is that yes.
However official announcement is due tomorrow afternoon

leahyl wrote: »

I emailed an agent about viewing a house and they have come back to me and said they have a video they can send on but first I would have to provide proof of mortgage approval or proof of funds - so I don't get to see the property in person and to even see the video of the house, i have to give them proof of funds? Is this the way things are now?

It's just to cut out the tyre kickers and people who just want a gawk but haven't even engaged an EA to sell their own yet.

No big deal, we just sent on our AIP and blacked out the amount the bank were loaning to us etc.

Don't worry about not seeing the house in person, Once you have seen a video you bid on what you think it's worth assuming all is well.

If you get a sale agreed then nothing is binding until a proper viewing. Keep the house in the back pocket and keep looking.

If you spot something in the viewing then either negotiate or back out.

People are getting too emotional about it. You can only control what you can control.

Teacher2020 wrote: »

They told us theyd offer us an extension but we had to undergo a "covid check" to get the extension. Had to submit salary certs, payslips, savings statements, bank statements and all docs again. They say it's an extension but you have to pass all the checks again.

That's good. I'm talking more about, say our gym membership. It got paused. I just can't fathom how it's fair that we are getting pushed to the end of our loan offer as if there was no pandemic. As if builders were on site. It's so unfair.

givyjoe wrote: »

Agent i contacted yesterday about a property in lucan was having none of that. Insisted on the non redacted AIP/proof of funds. I provided that, but not evidence of savings for the balance. I could have said no and my bid wouldn't have been considered.

Tell them to **** off and walk away, that is way over the line.

givyjoe wrote: »

And then what? Unfortunately doing that doesn't bring me any closer to securing a place to live. As livid as I was, if i want a chance of securing that property, that's what I needed to do.

Totally get that but by God does it give them the upper hand.
Like you I would send it in to if pushed
I could totally see it being used to drive up bidding to the max.