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

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    #9032
    Glaceon
    Registered Users Posts: 2,009 ✭✭✭Glaceon


    I've had every delay under the sun and it's getting to me now. We placed the booking deposit on 20th May last year and were initially told "end of the year". But due to a spat between the developer and ESB Networks over safety on the construction site, there was a significant delay on things. We were then told ESB would be in around mid April with a completion date of the end of April. That has passed of course. I was told on Tuesday that ESB had finally started the installation.

    We had to get the mortgage application extended last December so now the bank are back on to me, advising me that the drawdown needs to be done by 14th June or else we have to start the whole mortgage process from scratch. My wife isn't Irish so that means getting foreign credit checks too, although in fairness we're in a better financial situation than we were when we made the initial application.

    Short of speaking to my solicitor, I don't really know what more I can do. I don't want to come across as a "Karen" but I've been waiting a year for this place and it's just frustrating me.

    Post edited by Glaceon on


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    #9033
    Icantthinkof1
    Registered Users Posts: 410 ✭✭Icantthinkof1


    We’re in the same boat, there’s been a few ‘doer uppers’ going for nearly 100k over the asking price that would need an additional 100k to be pumped into them as the BER’s are E or below

    That’s excluding any cosmetic work or renovation costs

    It’s bonkers!



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    #9034
    SAMTALK
    Registered Users Posts: 2,317 ✭✭✭SAMTALK


    This madness has to end. Cant possibly go on at the rate it is at the min.



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    #9035
    Cashmerewrap
    Registered Users Posts: 35 ✭Cashmerewrap


    Hi, I hope it's OK to post this here. Just looking for thoughts/opinions please. I put a 3 bed duplex in Navan on the market in January and it went sale agreed in a week. There were 3 serious bidders. The buyers pulled out last week. Its back on the market but the interest doesn't seem to be there now and the EA doesn't seem to be having many enquiries. Can anyone give an insight into how long I might expect to have to wait to sell? It is in turnkey condition and asking price is €235K.



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    #9036
    JimmyVik
    Registered Users Posts: 5,368 ✭✭✭JimmyVik


    https://www.boards.ie/discussion/comment/119021163#Comment_119021163

    Change to a new agent and get new photos and market it like its new to the market again. Lots of people see houses that were on the market and then it turns out they have been sold, so if people see an old advert they wont even bother phoning up about it at this point. They will just assume its another one thats just been left on myhome or daft after it was sold.



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    #9037
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    currently involved in an interesting deal , my tenants in Kildare got mortgage approval but my house they are renting was well beyond their budget , turned out the vendors of the house they found locally were really interested in my house , long story short , my tenants are getting the house they were interested in a little cheaper and im selling my house to the vendors of the house tenants are going to buy

    im still clearing nearly 100 k in less than eighteen months on the deal ( never mind the rent received in that time ) so everyones happy



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    #9038
    Glaceon
    Registered Users Posts: 2,009 ✭✭✭Glaceon


    Got an update from the developer today, apparently they're now going to issue weekly or fortnightly updates on the development to quell speculation currently appearing on social media. I haven't seen any myself but then again I'm not on most social media networks. They didn't BCC it, so I now have the e-mail addresses of all my neighbours. 🙄

    It didn't tell me much more than I already knew but I think I'll need to get started on a new mortgage application.



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    #9039
    donaleire
    Registered Users Posts: 30 ✭donaleire


    Currently in the process of buying a house on the Meath/Westmeath border and worried I am making a mistake. The fear of massive mortgage payments for the next 30 years is a scary prospect with the house being over 400k. Saying that the house is nice at around 160m2 size, but living hand to mouth to have it is worrying, especially when the house would have been around 100k cheaper only 3 or 4 years ago. The commute to Dublin every day may well prove to much of a toll also. Do people think prices will stay at this level for the next few years?



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    #9040
    bluelamp
    Registered Users Posts: 255 ✭✭bluelamp


    https://www.boards.ie/discussion/comment/119024463#Comment_119024463


    Could they stay at this level for a few years? Probably. Can they stay this level or higher long term? In my opinion no. House prices rise and fall, they're currently unaffordable, they can't stay this way forever.

    Are you from Dublin? If so, I'd tread carefully if you've no breathing space by buying that house. It ticks every danger sign in my eyes. Commuter County, at the top of your budget, long commute, no connection to the area if you aren't from there.

    Current house prices aside, you shouldn't be purchasing anything that leaves you living hand to mouth. Too much to go wrong.



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    #9041
    TheRona
    Registered Users Posts: 1,787 ✭✭✭TheRona


    https://www.boards.ie/discussion/comment/119028578#Comment_119028578

    I'm not even sure how you could get yourself in that position with the current lending rules. I'm getting a 20 year mortgage and repayments will be a bit over 25% of our net income. A longer term would have been a good bit lower. You'd have to have an insane number of other expenses to find yourself living hand-to-mouth, but I'd say you'd struggle to get a mortgage in the first place if that was the case.



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    #9042
    bluelamp
    Registered Users Posts: 255 ✭✭bluelamp


    https://www.boards.ie/discussion/comment/119029078#Comment_119029078

    True, the rules are probably the only thing saving us from ourselves in this country - after making yet another mess of the housing market.



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    #9043
    JimmyVik
    Registered Users Posts: 5,368 ✭✭✭JimmyVik


    https://www.boards.ie/discussion/comment/119029078#Comment_119029078

    If there was a major recession and mass job losses like last time you could get into a bad situation if you lost your job.

    But we now know that in Ireland if you do lose your job, you not only dont have to pay your rent if you dont feel like it, but also you dont have to pay the mortgage. You can remain living in the house as long as you make some sort of effort to pay a bit.

    So once you buy and are living in the house I wouldnt worry too much about ever losing it.



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    #9044
    kodak
    Registered Users Posts: 370 ✭✭kodak


    Just closed the sale of our home .. 98 days from going on market to closing day .. no major delays.. FTB eager to get in and we were eager to buy but going to sit on the fence for a while ☺️



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    #9045
    Cork2021
    Registered Users Posts: 2,261 ✭✭✭Cork2021


    https://www.boards.ie/discussion/comment/119038261#Comment_119038261

    What’s the plan now? Are you going to rent?? We’re in positive equity and are stuck. Want to upsize but can’t sell as nowhere to go



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    #9046
    kodak
    Registered Users Posts: 370 ✭✭kodak


    Back living with family for a few months , waiting for a house that ticks more of the boxes and hopefully being chain free will pay off



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    #9047
    LunaLoo
    Registered Users Posts: 121 ✭✭LunaLoo


    How long should we expect to have wait between signing contracts and exchanging keys? Things finally seem to be moving and the 3 parties in chain are all anxious to close asap



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    #9048
    kodak
    Registered Users Posts: 370 ✭✭kodak


    Managed 2.5 weeks



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    #9049
    _Brian
    Registered Users Posts: 18,479 ✭✭✭✭_Brian


    House is on the market now maybe six weeks. Bidding has gone well and will be telling estate agent this morning to accept an offer from a cash ready buyer. Not the highest bidder but very near.

    Honestly can’t wait to close this deal and move on.



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    #9050
    Streco80
    Registered Users Posts: 15 ✭Streco80


    https://www.boards.ie/discussion/comment/119038261#Comment_119038261

    Congrats on the sale! We just went sale agreed too and have everything crossed that it's smooth sailing. Like yourselves, we are moving in with family while we search for our new home. We're lucky to be in that position and not have to stress it out. Delighted for you, Always great to hear a positive story



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    #9051
    Mollyb60
    Registered Users Posts: 6,564 ✭✭✭Mollyb60


    Mortgage application phonecall this morning. When she asked when we expected to complete the sale we had to say 'that depends on you, you're currently the ones holding things up'. Hopefully that's the last hurdle and we can just motor on from there.



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    #9052
    Cashmerewrap
    Registered Users Posts: 35 ✭Cashmerewrap


    https://www.boards.ie/discussion/comment/119022045#Comment_119022045

    Thanks Jimmy I took your excellent advice and changed to a new agent who is relaunching it. Our old agent has a clause in the contract that we must give them 21 days notice before it can go on the market again. I was wondering had anyone got any experience of this. Should I tell our new agent to wait or should I take a chance and let him put it up for sale?



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    #9053
    fergus1001
    Registered Users Posts: 2,625 ✭✭✭fergus1001


    when interest rates start to go up mid year prices will start to moderate



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    #9054
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    sale agreed on a house in Kildare and buying another house in Limerick city , encountering a situation I have in the past where the EA is trying to deter buyers from a house , they obviously want it for a friend

    " preferred buyer " phenomenon

    in this instance , the EA keeps going on about how noisy it is in the garden as the property is backed onto the M7 motorway ( EA even said " we had to list at a discount due to noise " ) , there are probably a hundred houses backed on to this motorway between the different estates in this particular suburb of Limerick , one of my brothers in law lives in one of them and while you might prefer not have the noise , its hardly a deal breaker , I made sure to submit my bid in writing so as to ensure the bid was passed on to the vendor , just something to consider , dont rely on a verbal submission



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    #9055
    EvoEvo
    Registered Users Posts: 36 ✭EvoEvo


    Hi everyone, I have a quick question.

    I'm currently on sales agreed for a second/hand apartment.

     My solicitor hasn't received any contract yet from the seller, after 3 weeks... , the EA told me that it might take time because the vendor is waiting for the bank to release her title deeds"

    I'm not familiar with this process....is it normal? why the title deeds are held with the seller's bank?


    Thank you in advance



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    #9056
    LunaLoo
    Registered Users Posts: 121 ✭✭LunaLoo


    https://www.boards.ie/discussion/comment/119065773#Comment_119065773

    If there is a mortgage out on the property the bank holds them until the mortgage is paid off.

    We were waiting 6-7 weeks for bank to release our deeds and that was with chasing the bank for them.

    eta. Contracts can't be issued until their solicitor gets the deeds. You could get the estate agent to ask them to contact the bank to try speed up process. It seems there is a backlog at the moment in most if not all banks deeds department



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    #9057
    Mad_maxx
    Registered Users Posts: 13,505 ✭✭✭✭Mad_maxx


    https://www.boards.ie/discussion/comment/119065773#Comment_119065773

    be lucky to get title deeds released from a bank in three months in my experience



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    #9058
    EvoEvo
    Registered Users Posts: 36 ✭EvoEvo


    https://www.boards.ie/discussion/comment/119065879#Comment_119065879
    https://www.boards.ie/discussion/comment/119065925#Comment_119065925


    ohhhh, so basically the seller is still paying a mortgage for the apartment right?

    I really hope that doesn't take 3 months😱, I already contacted the EA ..let's see

    Thank you



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    #9059
    Xidu
    Registered Users Posts: 360 ✭✭Xidu


    I have a colleague they bid on a 200k house but the house was so old the bank refused to lend mortgage.

    then they bid a 300k house, it was sales agreed, but the bank too ages on the process the owner just canceled the agreement.



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    #9060
    Tar.Aldarion
    Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 60,082 Mod ✭✭✭✭Tar.Aldarion


    I just got a contract now and it's saying that the sale includes the fixtures and fittings, would all the beds and furniture etc be fittings then?



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    #9061
    LunaLoo
    Registered Users Posts: 121 ✭✭LunaLoo


    https://www.boards.ie/discussion/comment/119075050#Comment_119075050

    No fittings are attached to house so curtain poles, blinds, light fittings, possibly shelving.

    So basically if you were to lift house up and turn upside down anything that stays in place.

    Anything else must be clearly listed in the contract, it is the vendors responsibility to have everything removed from the house before it closes.



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