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

Hi All,

I have a question I'm hoping someone can help me with. My current house is sale agreed and I'm sale agreed on another house. Both going along very smoothly but we haven't contracts signed yet, happening in the next week hopefully. Before drawing down my mortgage on the new house I need to have house insurance and am wondering on what dates to insure from? Can I insure if for next week even though the house will not officially be mine and no one currently lives in it? Also bank are looking for letter of indemnity to note the interest of the bank, do I request that of the insurance company when I get the house insured or is this something the solicitor does?

Probably went into ppr ex-Vat. If you multiply by 1.135 is that the price you paid?

How long has the process taken for you?

Thanks for that.

putting our house for sale soon, pictures and all that are being taken next week, area we live the activity isn’t huge like a house a week kind of thing changing hands. We technically won’t be in a chain as we’ll only be going for AIP towards the end of the sale (if it happens) kind of looking for a smooth but not too quick experience.

Just an update on how the rest of the process went now that we have finally finished the selling and buying!

Week 8

Sale: no update

Purchase: no update

Week 9

Sale: buyer signs contracts, we counter sign

Purchase: we receive our loan offer from PTSB, we sign contracts for purchase and sign loan offer

Week 10: Christmas

Week 11

Sale: closing date set as 27th Jan

Purchase: set up home insurance and mortgage protection

Week 12

Sale: no update

Purchase: no update

Week 13

Sale: no update

Purchase: sellers counter sign contracts, our solicitor requests funds from PTSB

Week 14

Sale: we completed the sale on Friday and moved out as agreed

Purchase: we were waiting on our own funds to be released from ptsb. Last minute paperwork issue raised by ptsb on Wednesday afternoon! Didn't make it through final checks till Thursday afternoon, and we were told it could be next week when funds would be sent - this was a major disappointment as we had to move out of our house on Friday. Thankfully the sellers of our new house were happy for us to move our stuff there on Friday. In with my parents we went then until the funds were sent and purchase completed.

Week 15:

Purchase: completed on Tuesday afternoon at 3:30pm, we got the keys at 5pm. Exhausted, we picked up our dogs from kennels and in we went! Glad to be done, we love the house, and I'm glad we bought this with the intention of it being our forever home, as I don't want to be in chain ever again, even if our chain was short, I dread to think what it's like in longer chains!

Overall though, things went very smoothly, aside from that final delay on our banks side. Wishing everyone luck with their buying/selling. This forum has been really helpful along the way, so thanks to everyone for contributing!

We’re selling first kind of, then looking. But that could all change! Delaying putting the house on the market by about 9 weeks so we can have better bank statements and savings routine

FTB. After a year, countless viewings, multiple bidding wars, losing out on places by a few €k, and messed around by a few EA’s, just went sale agreed.

Have ended up with somewhere much bigger than I expected to get, requires no work and in just about my ideal location. Very little I’d change about it at all.

Obviously a lot that can go wrong before it gets over the line, but just to say to people on the hunt, it’s a very disheartening process but keep your head up. The hard work can pay off. I honestly feel like the BS of the last year has suddenly been worth it.

Remember that the new mortgage rules only kicked in this week, allowing people to get more money, so no point in putting house up until people know what they can spend

Wondering anyone can advise please.

Currently selling a property and buying a new one. Bank have told us two weeks ago we have submitted all docs on our end and all good.

We Signed contracts on Friday for both sale and purchase and solicitor has requested to drawdown funds.

The bank have now come back today asking for a letter from my employer (tech company who recently announced redundancies) stating I am not affected. Nobody in the company will be told for another 3 weeks if they are safe or not, and we cannot just get a letter like this written up, it has to go through a ticket system and is likely to be rejected anyway.

We are now bound to sell our house, if the bank don't release funds we have nowhere to go.

What does one do in this scenario? Surely the bank are bound to follow through with the loan after a certain legal point has been reached. Any advice?

I believe we work for the same company 😉

Can you not get an email from your manager? I know for certain my department will not be affected. I’m sure managers will have a fair idea at this point whether their team will be affected.

I'm finding this stage to be painful. Currently waiting on the vendor to get a land registry map for a couple of weeks now, I'm getting no feedback from anybody.

We are Sale Agreed since mid January, and also approved with BOI. Everything is moving smoothly enough, we were the same and had hoped to get in ahead of the interest rate hike, but we have realised this week that its just not going to happen. We got our revised letter from the bank with the actual selling price, the valuation was done the week after sale agreed. Our solicitor advised waiting until she received the contract to arrange the survey so that the surveyor could review the documents received, the lang reg plan and any issues she wanted them to check out. I anticipated that the land reg map would likely only be a copy coming from the sellers solicitor so had ordered it myself and sent on to our surveyor. I had also reviewed and copied the old planning file in the council to save a bit of time. The sellers solicitor moved pretty quickly and got the contracts to our solicitor mid last week, and in fairness our solicitor reviewed immediately and sent a list of queries for our surveyor to check out. Our survey is happening today or tomorrow with a 1 weeks lead time to received the full report so we should have it by the end of next week, and hopefully sooner. We have MP lined up, just need to insert the start date, same for home insurance. But even with all of this, we are just not going to get in ahead of the 21st. You have to have all documents to BoI by 14th for their review, which only leaves a week. And if anything comes up in the survey and there is a need to go back to the seller, or do further research, it just doesnt leave any time unfortunately.

Also be aware that the bank will be incredibly busy with lots of people in the same position. For the last hike I couldnt get hold our our mortgage advisor for days with a query, so I am expecting the same this time. It is incredibly frustrating for sure, but we also want to give our solicitor time to review the survey report in full, and ensure that there are no issues in the contract etc. We checked with our solicitor and she said she was happy to go as quickly as possibly, but that it was unrealistic to think we could draw down by then. We also met the EA and seller at the house last week and the seller wants more time in order to move out, so we really we are caught. We are now hoping to be in by Easter, and continue to save ever penny while we wait.

Sorry its not more positive, just giving your our situation

Thanks. I know it’s not really realistic at this point. Our mortgage advisor is off today 😣. Wanted to see if Coujf progress stuff a bit more. My husband just got approximate costs from solicitor and they are nearly double what approximate costs were. What kind of prices are you being quoted?

Hi folks

moving to loan offer stage on a new build development…

one of the steps is that we have a bank evaluation completed

however the estate is not yet completed, completion is expected April May.

i understand a final evaluation is completed before draw down however how do we get past this part ? Seems like a catch 22 given we can’t evaluate it until it’s built/completed

The valuer does a drive by and certifies that the house spec advertised is in line with similiar property sales in the area for the price. A second valuation will be required for drawdown. The valuer that did mine reused the same template for drawdown as for the loan offer stage when the ground works were only being done (same photo of foundation with no finished house!) and the bank didn't even query it so long as they signed off that it was worth what was being asked.