Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

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

Options
1321322324326327373

Comments

  • Registered Users Posts: 49 Thistley




  • Registered Users Posts: 1,557 ✭✭✭Dante


    I've been highest bidder on a property for a couple of weeks now, however its still ~10k below asking. I haven't heard anything from the estate agent since before I submitted that bid, I'm guessing they are holding out for more money.

    Anything in particular should be doing in this position?



  • Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 14,004 Mod ✭✭✭✭pc7


    Keep looking, tell EA you are keen to seal the deal, but you can’t wait too long. Might encourage buyers to accept, or look to meet half way to close it out. could just piss seller off, but depending on house and area there could be a lot more on the market now.



  • Registered Users Posts: 858 ✭✭✭Plasandrunt


    8 months? What held it up so long?


    I'm sale agreed on my place since 23rd of August, contracts were sent over on the 13th of September but haven't been returned yet. According to buyers solicitor it's the banks holding things up but I've a feeling that the buyer has had to reapply due to interest rates going up.

    Frustrating as hell because I need the proceeds to pay off a loan before I can apply for a mortgage.



  • Registered Users Posts: 49 Thistley


    You could ask the Estate Agent to pass on your circumstances and that you want to make it your family home etc. (if that is the case of course).

    We told EA our position that we were racing against a notice of termination and asked him to pass that onto the vendor. Not sure it was that that made us successful, but we offered asking price and it was accepted straight away. We had also met the owner before putting the bid in and we had a great laugh with him.



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


    The average appears to be 4-6 months, in my case it was the land registry holding things up for the last 5 months, as well as their solicitor being so slow.



  • Registered Users Posts: 959 ✭✭✭Officer999


    11 months sale agreed here and still no sign of a closing date.

    Probate been the big problem.



  • Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 14,004 Mod ✭✭✭✭pc7


    Sale agreed with this buyer since end of August, hopefully will exchange contracts soon and get it sold before Christmas. I have my doubts as they just seem to keep coming back with qeuries, not sure if they are stalling to reapply as others have mentioned above. Just have to ride it out.



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




  • Registered Users Posts: 4,655 ✭✭✭CIP4


    I went sale agreed the middle of August. Seemed like nothing happened for 6 weeks while the vendor sorted contracts. In the last 2 weeks contracts were sent over and reviewed by the solicitor queries sent back. So these are in the process of being fixed. Every time an issue is sorted another crops up I have found that throughout the process so frustrating. It is possible things will close and I will be in for Christmas but its becoming more optimistic by the day. Its funny though vendor was so slow for the first 2 months now all of a sudden the last 2 weeks they are in a rush and need the sale to go through ASAP they are possibly nervous about the way the economy appears to be going and want rid of the house. Going to be a tense few weeks I completely under estimated how stressful and draining the whole process would be.



  • Advertisement
  • Registered Users Posts: 49 Thistley


    Today has been an exciting day! Funds were released and should be getting our keys early next week. Honestly did not think this day would come.

    Swapping notifications from house alerts to DIY projects for the home owning chapter. Not much needs doing at first so we can get a feel of the house first.

    We went Sale Agreed 22 August - funds released 10 November.



  • Registered Users Posts: 7,062 ✭✭✭COH




  • Registered Users Posts: 49 Thistley


    Thank you so much! Hope you are getting on well.



  • Registered Users Posts: 23,291 ✭✭✭✭ted1


    Currently selling a rental to the council. Minister has said they are to buy them if evictiing tenant. Had planned to sell but wouldn’t kick out the existing tenants, so selling to the council allows us.

    We have about 209k equity so adding it our family home which we will sell and hopefully buy a forever home without adjusting our smalll mortgage. Hopefully there will be fire sales next year


    looking forward to telling the tenants they are now a council tenant and should get cheaper rent and a few upgrades



  • Registered Users Posts: 2 chilaquiles


    Found a dream new build recently that we'd love to trade up to, so we're looking at selling our own home. The estate agent is suggesting to sell it 10k under market to get a quick sale and thinks he could sell it off market to some eager buyers.

    We do need to sell to cover the deposit of the new build, due to be ready in April. That said, feels like we may be swindling ourselves by selling off-market



  • Registered Users Posts: 4,876 ✭✭✭what_traffic


    Hopefully closing day today, a bit of slog in the end. Original date for it was 28-10-2022

    Bank were slow in the end releasing funds. Took them an extra week to do internal checks on submitted documentation from months ago and then the LPT 2023 cropped up after 1st November for the vendor so lost another week.

    Sale agreed 28th of July. Funds released 07-11-2022 and sent to vendors solicitor the following day.

    Be glad once I get the keys so can start moving those boxes and move in next weekend.

    (My manager at work has been great - been able to cancel and re-book days off at short notice.)



  • Registered Users Posts: 130 ✭✭Thestart


    contract signed Friday by purchasers so closing in next week or two.



  • Posts: 3,656 ✭✭✭ [Deleted User]


    I am a cash buyer, having taken the risk of selling first.

    I got Sale Agreed on a renovated and extended cottage at the end of October. Renovation just completed this year, specifically for sale. Property hasn't been lived in and is vacant.

    I since found out from my surveyor that extension does not have planning permission and will need retention. It should get it as the roof is no higher than original cottage roof and extension is at the rear. So it looks like its a formality.

    However I am very frustrated as this will cause a 3/4 month delay. The advantage of being a cash buyer is hoping to get sale to close without delays. Now there is a delay. Is it common to put up a newly renovated property for sale with no planning permission, should EA not have to check this first before listing?



  • Registered Users Posts: 49 Thistley


    A wee update. I thought November 10th was an exciting day. I did not expect the 11th to top that.

    Solicitor was determined that we would have keys on the 11th. He gave us updates as they happened. He really was amazing! We were trying to keep our expectations in check coz yano, the whole process is waiting.

    So at 16.29 on Friday afternoon, after I was finished filling the car in the petrol station beside the estate agent, I received an email from the solicitor saying "Closed!" I parked the car and walked across the road to the estate agent who was on the phone. She was actually on the phone with the vendor's solicitor who was giving the go-ahead to release the keys. So, by 16.39, I was on my home to the rental with our forever home keys in hand.

    Seriously what a whirlwind of an afternoon! So happy the process is over with. All apps have been deleted and we are now covered in paint.

    Wishing you all a smooth process!

    Again thank you to absolutely everybody who has shared their experiences and knowledge!



  • Registered Users Posts: 89 ✭✭blarb


    Ah that's brilliant news! Congrats 🎉 Enjoy the decorating!😊



  • Advertisement
  • Registered Users Posts: 17 Wab0607




  • Registered Users Posts: 1,786 ✭✭✭DownByTheGarden


    Seen this go on for 6 months or more. If I were you I would keep looking elsewhere while you wait on this one.



  • Registered Users Posts: 3,842 ✭✭✭Jet Black


    No. Its the solicitors job to check.

    The house I'm selling has an extension that didn't have PP. EA asked me about it from the outset but I honestly didn't really know, I only bought it a few years prior without it being raised. He just said leave it to the solicitor to look into. It was under the size needed for planning so I just needed building compliance cert.



  • Registered Users Posts: 6,034 ✭✭✭KrustyUCC


    Mortgage drawndown

    D day on Friday

    Hoping everything will go smooth at this stage and that we'll be in the house on Friday



  • Moderators, Entertainment Moderators, Society & Culture Moderators Posts: 14,004 Mod ✭✭✭✭pc7


    Great to see so many starting to close off, feels like there has been a big move last few weeks in here.



  • Registered Users Posts: 6,034 ✭✭✭KrustyUCC


    Lot of movement with people both sides trying to avoid rate increases

    AIB, EBS, Haven deadline was yesterday

    Bank of Ireland deadline 10th December will be another big push before Christmas



  • Registered Users Posts: 4,876 ✭✭✭what_traffic


    Sale Closed yesterday afternoon and picked up the keys this morning. Happy days. Giving ourselves a week to move; less than 1km so hoping it will go smooth enough. The vendors auctioneer was excellent to deal with-I would hire them if I was selling myself. Have to say any "local" professionals in the purchase process have been good. Bank could have been a bit quicker in the fund release process at the end. They are very centralised now - one could make a case for having "regional" hubs but doubt that will happen. More automation and IT tools in the process will eventually speed up the interactions between the various parties involved in buying and selling.



  • Registered Users Posts: 4,876 ✭✭✭what_traffic


    Big thanks to everybody contributing on this thread - helped me for sure understanding the process ,potential pitfalls and the jargon.



  • Moderators, Category Moderators, Computer Games Moderators, Society & Culture Moderators Posts: 8,464 CMod ✭✭✭✭Sierra Oscar


    No sign of PTSB increasing their rates so far this week. I would have thought they would have to increase them by the end of this week to allow people drawdown within the month, they will run into difficulties with the Christmas holiday period otherwise. Unless they allow longer than a month, or are not planning an increasing until the new year.



  • Advertisement
Advertisement