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

dontmindme · 10-10-2022 06:14PM

https://www.boards.ie/discussion/comment/119727365#Comment_119727365

In the driveway?

10-10-2022 06:17PM

https://www.boards.ie/discussion/comment/119727396#Comment_119727396

Apologies I meant pyrite.

10-10-2022 06:18PM

https://www.boards.ie/discussion/comment/119727345#Comment_119727345

That’s great news for you though. Means the purchaser isnt getting a mortgage, with all the delays and risks that that might entail these days

dontmindme · 10-10-2022 06:28PM

https://www.boards.ie/discussion/comment/119727418#Comment_119727418

Why would the bank's valuer be up if there was no mortgage?

10-10-2022 06:29PM

https://www.boards.ie/discussion/comment/119727456#Comment_119727456

Didn’t see that, makes no sense then. A bank would need a survey, unless things have changed. Maybe the valuer double hatted

dontmindme · 10-10-2022 06:32PM

or the buyer is a surveyor ;)

DataDude · 10-10-2022 06:35PM

https://www.boards.ie/discussion/comment/119727459#Comment_119727459

Banks don’t always (often?) ask for a survey. Just a valuation from their side.

Thistley · 10-10-2022 06:52PM

https://www.boards.ie/discussion/comment/119727345#Comment_119727345

Getting a survey is only a recommendation (unless the house is over a certain age). We were advised to get one done for our own peace of mind though.

10-10-2022 06:53PM

https://www.boards.ie/discussion/comment/119727476#Comment_119727476

Okay. I stand corrected. Was mandatory for me

astrofool · 10-10-2022 07:05PM

https://www.boards.ie/discussion/comment/119727408#Comment_119727408

Not unless specifically asked for, it would involve drilling core samples and putting holes in walls (mica is the one you're thinking of), sometimes it can be obvious but can also be covered up/painted.

There are locations which are harder to sell as they have known pyrite or mica issues, but it's generally on the buyer to find out about it (which is ridiculous imo as it all becomes nods and whispers) so the property doesn't lose value for the homeowner.

Giblet · 10-10-2022 09:12PM

You may only need a valuation, which some banks may do a sight only inspection, even without your knowledge!

I had same recommended to me, but I went with my own surveyor which found some important issues.

pc7 · 11-10-2022 07:19AM

Does anyone know how long after the bank send out their valuer how long then for draw down usually? My buyers bank were out yday, my solicitor has sent initial contracts. Just really hoping this can be done and filed away before Christmas. Have family in Oz and their sales go through in a matter of weeks! Its so frustrating how slow everything is here.

TheRona · 11-10-2022 07:27AM

https://www.boards.ie/discussion/comment/119728920#Comment_119728920

In my case it was still a couple of months.

I have relatives who just sold overseas. The buyers paid over the odds, and part of the agreement was that my relatives had to vacate the house within 10 days! Crazy.

miamee · 11-10-2022 11:08AM

https://www.boards.ie/discussion/comment/119727365#Comment_119727365

We bought earlier this year in the northwest and our survey did mention no signs of mica - however that was just no visual signs, there was no testing of the walls done or anything like that.

keane10 · 11-10-2022 12:00PM

https://www.boards.ie/discussion/comment/119728920#Comment_119728920

The valuation report is just one of the criteria that the banks require from the buyer - there's loads of other things that have to be done by them before they release the mortgage so the timing of the valuation report doesn't indicate when you might close, in my experience.

For what it's worth - we are supposed to be closing this Friday on a purchase and we had our valuation report done about 6-7 weeks ago.

mcsean2163 · 11-10-2022 12:09PM

Any thoughts of this:

https://www.myhome.ie/residential/brochure/seapoint-house-seapoint-road-bray-co-wicklow-a98-ey16/4648911

Seems to be well priced but without selling our current house a real stretch. My guess is that it will go for a lot more?

Are we wasting our time looking at it?

pc7 · 11-10-2022 01:13PM

Only you know that McSean based on what you can afford and your needs. Is there anything similar on Property Price Register. Only way to know is go view it, its BER exempt so you might need to do a decent survey if its old.

mcsean2163 · 11-10-2022 04:29PM

https://www.boards.ie/discussion/comment/119730276#Comment_119730276

Can't afford much more, actually paid off about 40k on the mortgage to reduce the term so maybe not the best timing if it's going to go in excess of a million.

Thistley · 11-10-2022 05:19PM

https://www.boards.ie/discussion/comment/119728920#Comment_119728920

I hope really really soon! We are buyers trying to hurry along the lenders. It is an actual nightmare. We have everything uploaded that they could ask for (thanks to those who shared their experiences here). Also depends on lender. We were told 20 working days for the valuation process with Finance Ireland then 5 days for loan offer. We started another mortgage application to try and get a faster process.

Hoping that you are also finished with the process before Christmas.

COH · 11-10-2022 07:24PM

N/A

Jasna1982 · 12-10-2022 04:40AM

Put a booking deposit down on a new build, and due to sign contracts first week of November. House is nearly finished so it won't take too long.

I was wondering if anyone can PM me a recommendation for a snagger in Galway?

demr · 12-10-2022 11:50AM

https://www.boards.ie/discussion/comment/119729924#Comment_119729924

A period home in good nick close to the seafront will probably go for more than asking but what harm is there in looking?

mcsean2163 · 12-10-2022 12:06PM

https://www.boards.ie/discussion/comment/119734152#Comment_119734152

Time, sunk costs. Getting excited then disappointed when it doesn't go our way, etc.

Agree, it seems good value but realistically the sale price may not be the same... although in the current environment... I guess we'll take a look.

keane10 · 12-10-2022 12:22PM

https://www.boards.ie/discussion/comment/119715431#Comment_119715431

We're still waiting for funds to be released (1 week on from our solicitor returning the legal pack to BOI). Chased the lender today and they said that there was still a flag on our application over something that had already been already sorted 12 days ago. Really frustrating. It's like their IT systems take forever to update after an action has been taken.

We have had 3 different instances of Bank of Ireland's document scanner misreading figures on our documents during this application which has held up the release of the funds. Something to be aware of for others. It's disgraceful. Their IT system misread & input the wrong salary from a salary cert, the wrong figure from a house valuation report and the wrong address for the property. They subsequently didn't tell us that there was any discrepancies in their data until we phoned them to ask why the application was not progressing as normal.

yew_tree · 12-10-2022 12:45PM

I don’t and the person dealing with it has said the underwriter is now asking for salary cert and payslips for the third time. Making out they can’t see my uploaded documents due to an IT issue.

This has been going on for three months and now the estate agent is ringing me looking for an update.

I’m unsure of my legal rights if the bank screw this sale up on me. At the end of my tether with them.

ClaudeVercetti · 12-10-2022 12:46PM

Went sale agreed just over a month ago, have surveryor and bank valuation booked etc but solicitor isn't optimistic about being in this side of Christmas - house is unoccupied so no chain.

I'm not in a major rush tbh but more thinking of when to hand notice to current landlord etc.

pc7 · 12-10-2022 12:47PM

So frustrating Keane and YewTree, really sucks. Hope you get sorted soon.

keane10 · 12-10-2022 12:50PM

https://www.boards.ie/discussion/comment/119734400#Comment_119734400

Sounds very similar to our experience. Is your application with BOI too?

KillerShamrock · 12-10-2022 01:36PM

Folks,

Regarding sloicitors is it best to go for one near where you currently live/work or closer to the porperty thats getting purchased?, about 35-40km distance/30 min drive depending on traffic between the 2.

Also surveys on a second hand house any suggestions? estate agent has recommend both solicitors and surveyors all local to the purchase property natutrally.

any point getting a valuation or just leave that to the bank to do?

keane10 · 12-10-2022 01:50PM

https://www.boards.ie/discussion/comment/119734752#Comment_119734752

You'll have to attend the solicitors a couple of times to sign paperwork so it's handy to have them near to where you live/work. Both solicitors on both sides of our purchase were in different counties to the property being sold; didn't make a difference.

I found my own surveyor, someone who was highly recommended locally. Our mortgage is with BOI and we had to get the valuation done ourselves - the bank don't do it for you. They give you a list of recommended valuers (local estate agents usually) to hire to carry it out and you then decide who to hire. The valuer then goes and does a valuation and gives the report to you, which you then have to upload to the bank's portal.

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

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