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

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    #6392
    Bubonic
    Registered Users Posts: 310 ✭✭Bubonic


    Deleted User wrote: »
    No time for EA’s doing this. The last few months has turned my opinion towards the media/general view of EA’s as chancers. Charlatans. Seller probably thinking even if these buyers don’t have the cash I’ll stick it up for the last offer again.

    The definitely make the rules up as they go along.

    In my case, I was able to put down a deposit on a house and no one has asked for proof of funds.

    But for people people talking about buying my house they are rejecting anyone who can't prove funds.


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    #6393
    LockedBoy
    Registered Users Posts: 11 ✭LockedBoy


    soc wrote: »
    We were sale agreed on a house since Feb. Seller gazumped us in the end; so sale fell through on account of the seller and not us. I'd never thought a seller could gazump....only associated it with other buyers.

    Seller's response when we didn't agree to him changing what we were buying was "there are other buyers out there." We were less than week away from signing contracts.

    Property put back on the market with asking price €30k higher than it was when first listed in Feb...and with less land. Booking deposit was promptly returned to us.

    Wasted time, money (solicitors fee, surveyors and valuations) on the scumbag, and caused tremendous disappointment to our children, as we were so close to the finish line.

    So buyers beware!

    That is so frustrating - the same thing happened to us and the worst thing after investing all that time and money that you have to do it all over again and find another property. The buying/selling system is so messed up - going sale agreed should mean something legally and flaky buyers/sellers should have financial penalties for backing out - for example the seller should cover half the cost of the surveyor assessment. Beyond frustrated


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    #6394
    Mic 1972
    Registered Users Posts: 3,213 ✭✭✭Mic 1972


    Deleted User wrote: »
    No time for EA’s doing this. The last few months has turned my opinion towards the media/general view of EA’s as chancers. Charlatans. Seller probably thinking even if these buyers don’t have the cash I’ll stick it up for the last offer again.


    the risk for the seller is that the winning bidder is a time waster, and the other competitors who may have been legit have pulled out and moved to another property


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    #6395
    soc
    Registered Users Posts: 488 ✭✭soc


    Claw Hammer wrote: »
    You hadn't even signed a contract and you were close to the finishing line?

    Correct. Both our and vendor solicitors asked for boundaries to be marked out by a surveyor as a formality (because contract stipulated that boundaries could not be questioned once sale was complete).
    Surveyor came out and confirmed boundary and we were ready to sign. Seller then decided after boundary survey that although they were selling x size land to us (as stated on ad and certified folio that they included with the contract) they decided they wanted to slice of 20% of the land and keep it themselves and sell us remaining 80% of the properties folio at full price. We didn't changed anything on the contracts or deal..it was all on them.

    As a last ditch effort to try keep the house on track we asked them to reduce the property price by €10k given they were keeping a sizeable chunk of it (plus it was the price they were relisting the property at). Nope they wouldn't have any of it. Wanted us to full price.
    FYI the chunk of property they were keeping was about 6500sq feet. So it's quite a chunk they were keeping.


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    #6396
    cintec
    Registered Users Posts: 705 ✭✭✭cintec


    Do people get the survey done as soon as you go sale agreed or do you wait for the contracts to be delivered to your solicitor.


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    #6397
    engagethecore
    Registered Users Posts: 5 ✭engagethecore


    JimmyVik wrote: »
    Normally I would say it will shake out once the excess cash has been hoovered up in a year or two.
    But REITs and councils will never run out of cash and thats who buyers are competing with, and not only first time buyers either.

    REIT's/funds aren't a bottomless pit of money the funds have to come from somewhere (savers, peoples pensions etc) but I do take the point that the pockets should be deeper than the pool of average punters out there. When rents remain so high also there's serious incentive to buy up property (especially new builds like we are seeing) . With interest rates so low and property rents insane the yield / return on the investment is brilliant especially when you compare it to yields elsewhere and will probably remain to be the case until central banks tighten monetary policy which looks at least a year or two away (although some noise coming out of the US at the moment). I assume the GOV will step in and limit the % that funds can buy of developments but that's a different issue being discussed elsewhere.

    Back to house prices , they are what they are and looking at simple supply and demand it doesn't look like supply will be meeting demand any time soon so would think prices continue to be stretched at least in the short term unless we see some kind of Economic shock


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    #6398
    Meathlass
    Registered Users Posts: 3,023 ✭✭✭Meathlass


    Here's my view from just outside the commuter belt.

    North Meath, rural area and a bit too far from the main towns to entice people moving out of the city. The vast majority of buyers are locals for the very few properties that come to market - c.7 every year.

    100 year old Cottage goes on market on Friday morning at €180k (was previously on market last summer at same price but fell through over retention planning issues which are now sorted). Bidding is mainly through the EA's website so you can see bids coming in. By Sunday evening it was at €192, Monday evening at €205, Tuesday evening at €210. This lunchtime it's at €213k and I'm no longer willing to increase my bid.

    6 bidders in total, none of us asked for proof of funds, bids done with a click of the button while watching tv, and officially no viewing of house yet though I know one of the other bidders and they got to view. Will be interesting to see what it's eventually sold for.

    Edit - highest bid now €220k - €40,000 over the asking price!


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    #6399
    whatever76
    Registered Users Posts: 1,009 ✭✭✭whatever76


    cintec wrote: »
    Do people get the survey done as soon as you go sale agreed or do you wait for the contracts to be delivered to your solicitor.

    Survey first and once you are happy to proceed then engage your Solicitor and Banks if getting mortgage and embrace the process :)


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    #6400
    tobsey
    Registered Users Posts: 1,275 ✭✭✭tobsey


    tobsey wrote: »
    There seems to be an expectation that with viewings starting next Monday and estate agent's offices opening the following week that people will get back to viewing before making offers and that might calm it down.

    We sold our house using blind bidding. Since going sale agreed the purchasers have been here twice now along with their valuer and surveyor. However we've lost out on two properties to bidding wars. We went just over 10% over asking on the first but not sure how much it went for. The second, just today, accepted an offer just under 24% over asking. We had gone to about 22% over. It had a serious amount of work done to it though.

    We're now hoping to close our sale and move in with family while looking for a new house. Given that one particular estate agent hasn't returned either mine or my wife's calls I'm guessing they don't want to deal with people who are selling to buy when there are a number of bidders ready to go.

    Got a call from the agent today to say the top bidder pulled out. We may have been bidding against ourselves but we'll never know. Or maybe bidding against messers who had no real interest. It's early days but hopefully it all works out.


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    #6401
    Claw Hammer
    Registered Users Posts: 6,167 ✭✭✭Claw Hammer


    soc wrote: »
    Correct. Both our and vendor solicitors asked for boundaries to be marked out by a surveyor as a formality (because contract stipulated that boundaries could not be questioned once sale was complete).
    Surveyor came out and confirmed boundary and we were ready to sign. Seller then decided after boundary survey that although they were selling x size land to us (as stated on ad and certified folio that they included with the contract) they decided they wanted to slice of 20% of the land and keep it themselves and sell us remaining 80% of the properties folio at full price. We didn't changed anything on the contracts or deal..it was all on them.

    As a last ditch effort to try keep the house on track we asked them to reduce the property price by €10k given they were keeping a sizeable chunk of it (plus it was the price they were relisting the property at). Nope they wouldn't have any of it. Wanted us to full price.
    FYI the chunk of property they were keeping was about 6500sq feet. So it's quite a chunk they were keeping.
    You are a long way from the finishing line when you sign a contract. You were only at the subject to contract stage and still negotiating when your deal collapsed.


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    #6402
    Spudmonkey
    Registered Users Posts: 2,857 ✭✭✭Spudmonkey


    Deleted User wrote: »
    No time for EA’s doing this. The last few months has turned my opinion towards the media/general view of EA’s as chancers. Charlatans. Seller probably thinking even if these buyers don’t have the cash I’ll stick it up for the last offer again.

    This happened me recently. I'd had the highest bid in on a house several months ago and it went a few thousand over. The EA called me a couple of weeks ago telling me they were putting it back up but at the original received offer. Checked it today and its gone to 25k over the asking price! :eek:

    House is completely overvalued. With the amount of work required there won't be much change out of 75/80k after renovations.


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    #6403
    VegetaIRL8e
    Registered Users Posts: 92 ✭✭VegetaIRL8e


    VegetaIRL8e wrote: »
    Almost 5 and a half months later....and in 3 days....Letter received. Deposit Paid, Contracts on the way out to sign. Couldn't be happier.
    Get Key Mid April.

    So after a lot going on with this all, I eventually got my keys today 7 months in total. A long process, but my god am I happy and looking forward to the next 2 weeks moving and the next many yrs in this forever home.


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    #6404
    LabJesus
    Registered Users Posts: 3 ✭LabJesus


    Newbie here, have been window shopping houses for the last 2 years and I am now interested in purchasing. I have been looking at one estate in a town near me so there is not a lot to keep track of but how come I see houses sold there recently on the PPR that never appeared on Daft/MyHome? Do sales go through real estate agencies without the houses ever reaching those sites?

    One sale I can see went through at over 50% less the price of all the other houses, whats the deal with that?


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    #6405
    cupcaketown
    Registered Users Posts: 17 ✭cupcaketown


    Has anyone got any experience bidding through Moovingo? Do you get to see the other bids or just yours?


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    #6406
    sm3ar
    Registered Users Posts: 312 ✭✭sm3ar


    Whats the equivalent of daft in the north?


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    #6407
    Bubonic
    Registered Users Posts: 310 ✭✭Bubonic


    sm3ar wrote: »
    Whats the equivalent of daft in the north?

    Propertynews.com, owned by the Independent


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    #6408
    givyjoe
    Registered Users Posts: 3,287 ✭✭✭givyjoe


    Anyone hear anything from agents re: viewings? One told me last week they are officially back from the 10th. Oddly enough there's barely a trickle of new properties being added under my search criteria to view anyway.


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    #6409
    Wrex
    Registered Users Posts: 52 ✭✭Wrex


    cupcaketown wrote: »
    Has anyone got any experience bidding through Moovingo? Do you get to see the other bids or just yours?

    I was successful in a bidding war with someone on Moovingo.

    We were told by agent what the current offer was, then made online offer. When the other bidder went higher, we got an email saying bid was unsuccessful and what new bid was, we then made a new bid etc etc


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    #6410
    RichardAnd
    Registered Users Posts: 3,630 ✭✭✭RichardAnd


    givyjoe wrote: »
    Anyone hear anything from agents re: viewings? One told me last week they are officially back from the 10th. Oddly enough there's barely a trickle of new properties being added under my search criteria to view anyway.

    I know people who have physically seen houses this week. Some agents seem to be saying that the 10th of May is the official day, but others have already started with viewings once again. Either way, the days of virtual viewing are coming to an end....

    until lockdown IV, coming to a dysfunctional property market near you in winter '21!!!


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    #6411
    Stark
    Registered Users Posts: 20,942 ✭✭✭✭Stark


    Dealing with two agents from Sherry Fitzgerald. One has organised physical viewings on two houses I'm interested in next week. The other is using stalling tactics saying "still waiting on protocols blah blah blah" while happily accepting the blind offers that are continuing to come in.

    ⛥ ̸̱̼̞͛̀̓̈́͘#C̶̼̭͕̎̿͝R̶̦̮̜̃̓͌O̶̬͙̓͝W̸̜̥͈̐̾͐Ṋ̵̲͔̫̽̎̚͠ͅT̸͓͒͐H̵͔͠È̶̖̳̘͍͓̂W̴̢̋̈͒͛̋I̶͕͑͠T̵̻͈̜͂̇Č̵̤̟̑̾̂̽H̸̰̺̏̓ ̴̜̗̝̱̹͛́̊̒͝⛥



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    #6412
    ec18
    Registered Users Posts: 2,702 ✭✭✭ec18


    I'm no particular fan of Estate agents but I am struck over the last few days here what do people think an estate agent is?

    They are hired by someone to achieve the highest price possible for their property?

    That's their brief and that includes having a list of prospective buyers with bids, to go through should any fall through


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    #6413
    Jmc25
    Registered Users Posts: 298 ✭✭Jmc25


    ec18 wrote: »
    I'm no particular fan of Estate agents but I am struck over the last few days here what do people think an estate agent is?

    They are hired by someone to achieve the highest price possible for their property?

    That's their brief and that includes having a list of prospective buyers with bids, to go through should any fall through

    My experience as a seller is also that an agents main goal is making a sale happen rather than always achieving the absolute maximum. Obviously achieving high prices looks good for their sales pitch to prospective sellers, but that's really the only benefit for them. Hardly enough of an incentive to consistently stoop to the underhanded tactics often mentioned here. Of course I'm sure there are bad apples and it does happen occasionally.

    Financially, selling 10 properties at lower prices makes them more money than selling 5 at the highest imaginable price.


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    #6414
    Spudmonkey
    Registered Users Posts: 2,857 ✭✭✭Spudmonkey


    Jmc25 wrote: »
    My experience as a seller is also that an agents main goal is making a sale happen rather than always achieving the absolute maximum. Obviously achieving high prices looks good for their sales pitch to prospective sellers, but that's really the only benefit for them. Hardly enough of an incentive to consistently stoop to the underhanded tactics often mentioned here. Of course I'm sure there are bad apples and it does happen occasionally.

    Financially, selling 10 properties at lower prices makes them more money than selling 5 at the highest imaginable price.

    All well and good if they have 10 properties to sell and not 5. The EA I was dealing with in the last couple of months said in the 16 years of working with them, she'd never seen such a shortage of supply on their books. Its exactly the case that's happening out there at the moment. You'd say yes that selling 10 at lower prices makes them more than 5 at higher prices buts that's not reflective of the current situation.


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    #6415
    ec18
    Registered Users Posts: 2,702 ✭✭✭ec18


    Jmc25 wrote: »
    My experience as a seller is also that an agents main goal is making a sale happen rather than always achieving the absolute maximum. Obviously achieving high prices looks good for their sales pitch to prospective sellers, but that's really the only benefit for them. Hardly enough of an incentive to consistently stoop to the underhanded tactics often mentioned here. Of course I'm sure there are bad apples and it does happen occasionally.

    Financially, selling 10 properties at lower prices makes them more money than selling 5 at the highest imaginable price.


    That's true but people are complaining that the EA are taking bids without proof of funds, others complaining that they are asking for proof of fund beyond a AIP letter....it's possible that EA are acting under buyers instructions. I/e let me know of any bid, only letr mw know about bids with proof of funding.


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    #6416
    Starlord_01
    Registered Users Posts: 443 ✭✭Starlord_01


    So after almost 6 months sale agreed, we got our keys on Thursday!!!

    Beyond stressful at times but stuck with it and couldn't be happier to have a place we can call our own! Thanks to all the informative and helpful posts on this thread.


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    #6417
    Busi_Girl08
    Registered Users Posts: 17,825 ✭✭✭✭Busi_Girl08


    Offer accepted, booking deposit paid!!!!!!!!!

    Now the real fun starts. Already stressed :o


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    #6418
    Claw Hammer
    Registered Users Posts: 6,167 ✭✭✭Claw Hammer


    Jmc25 wrote: »

    Financially, selling 10 properties at lower prices makes them more money than selling 5 at the highest imaginable price.

    If they are not getting the prices, they won't get the properties to sell.


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    #6419
    cintec
    Registered Users Posts: 705 ✭✭✭cintec


    Starlord_01 wrote: »
    So after almost 6 months sale agreed, we got our keys on Thursday!!!

    Beyond stressful at times but stuck with it and couldn't be happier to have a place we can call our own! Thanks to all the informative and helpful posts on this thread.

    Congratulations on the house.
    Is 6 months not a long delay any advice on what can be done to reduce the timeframe?


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    #6420
    LabJesus
    Registered Users Posts: 3 ✭LabJesus


    Hey guys, can anyone explain to me how houses are sold (recorded on property price register) without having gone through daft or myhome? Do estate agents make sales sometimes without posting on these sites?


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    #6421
    awec
    Administrators Posts: 53,506 Admin ✭✭✭✭✭awec


    LabJesus wrote: »
    Hey guys, can anyone explain to me how houses are sold (recorded on property price register) without having gone through daft or myhome? Do estate agents make sales sometimes without posting on these sites?

    Sometimes yes if it suits all parties.


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