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

I think the best strategy is to continue your search. Particularly, view another house that the same auctioneer is the agent, if possible.

This way, you're sending a message to the seller that you (their highest bidder) is actively looking at other properties and the vendors would want to make up their minds very quickly for fear you'll find some place better.

This way you are gently letting the seller know that you aren't going to be easily manipulated and you are not going to wait around for ever. They will either have to accept your offer or male a counter-offer if they are serious. If they are not serious about selling to you, obviously they'll do nothing, in which case you'll have your answer.

Got it sorted yesterday. One couple are willing to wait, and are that their max amount so I’ve them as preferred bidder with EA. Two more viewings today, and that seems to be that atm. Hopefully I hear good News Monday/Tuesday about our AIP and we can move on then.

question. I haven’t asked the bank yet but someone might know here.

say there’s a house we love but it’s in need of renovation but living in it now would be fine just very outdated etc. house after deposit is €216000 but we qualify for a max mortgage of €312k would a bank lend you the max so that you could renovate your home?

Especially when they see you’re able to pay max after offering it. I’d assume you’d need to show coatings and so on.

we’ll see how our bid goes, I think it probably would need €96k it’s a house built in the early 80’s I think, also I’m not 100% sure but could be vacant for more then 2 years which would help with the renovation grant the government have. It has a D2 energy rating so would want to retrofit it as well(grants for this too) it’s a project my wife and I would love to take on. Let’s hope we can get it first..

Yeah now the AIP I’m 99% we have, but also have doubt of course. But yeah should have max €312k it would be excellent if they did give the €96k that would go most of the way to doing the job. We should have around €60k equity from the sale of our house left after costs and so on, as a contingency then…..

Be careful too house is deemed habitable as is. If its not then bank will withhold an amount for renovation costs so wont end up lending 90% of value of house. Ive no experience of it but remember a friend buying place and bank withheld some of drawdown to reflect house is not deemed habitable

If it is a structural issue mortgage lender may not advance.

It could be that there are common area issues such as no common fire alarm and emergency lighting. As an owner occupier you would be legally ok to live there but technically would not meet landlord rental standards.

You really need to get details of the issue.

We just bought a house in a very rural spot and knew broadband would be an issue. We had Imagine out to do a speed test, but as they are pointing to an old tower in the area, that a lot of people are on, the speeds were absolutely rubbish. We have gone with Starlink, it was here in a couple of days and finding it excellent so far, speeds just as good as fiber we had previously. We are ment to get fiber on our road later this year, but I wont be holding my breath. I WFH through VPN and haven't had any issues so far, and we have multiple devices online etc. Some of the house is a bit patchy, but afaik Google Mesh will sort that for use. The hardware was €300 which has come down a lot in the last year, and its €65 pcm so pretty much the same as most providers.

I'm refreshing rte.ie almost hourly. Dreading another increase, and it's been suspiciously quiet for a few weeks now.

nope , heard nothing .

just assumed after the ECB announced the increase last week that the banks wont be too far behind.

Had a phone call with EBS about the question I had here at the weekend about if we needed to renovate would they lend for that on top of what we paid. The answer was yes they do, provided you’ve proper costings from a reputable builder etc. and that you say this and provide this info before going for the loan offer, not after the fact. They release funds either in one go or in stages. And obviously their valuation will need to met as well when it comes to that.

still one thing missing from EBS and that’s AIP!!! I think it’s a bit silly that they had one question about something 4 years Ago on our credit report which was a simple answer and we get bumped to the back of the queue.. but like our advisor said if that’s all they had to ask everything looks good…….

had our EA onto me again today asking are we accepting the current offer of €8k over asking. I said yes we will once I have 100% proof that we can actually bid on a house! She had asked the possible buyers to be patient and they were happy to do so. But to come back when I told her it would be Wednesday Thursday before I knew is annoying considering last Thursday I told her to give 10 days at the most!

In the same situation but a different part of the country! You can ask but no obligation for them to tell you. If they are decent I would imagine they would tell you. The vast majority I have dealt with are all reasonable, just always be mindful that they obviously work for the seller so trying to get them the best price.

Agree, majority of EA don't want to be wasting your time if they know you are genuine, had two cases where auctioneers(locals) told me that we were bidding against cash buyer and that a seller was more keen on them but it can also happen that they play you.

Had a case of that March 2022, viewed a house very close to where I lived a couple of mins walk.

It had an asking that was close to our budget limit(we could go over asking by about 15k) and based on condition and location of house thought it would go well over that.

Sign was up for a number of weeks, we would walk by it 2/3 a times a week. Decided to ring EA after about 8 weeks after seeing an Under Offer sign on sign outside the house . Had been bidding on a house with same Agency(has a national profile) the summer of 2021.

Only one offer had been placed on it, that was placed about 6 weeks prior and it was 30k below. Told the EA our situation, our house we were in that was nearby was in the process of been sold, AIP letter for a mortgage that was about 50% of the asking. We decided to put in an offer that was 20k below asking. About 2 hours later get a call saying the asking price had been met by the previous bidder and that they were a cash buyer and then hinted that seller was more keen on them.

So in my mind the EA played us in the above scenario to get 30 k more off the cash buyer. Checked property register 6 months later and that Offer of the Asking Price was the Sale price listed.

If I had known prior that we were bidding against a cash buyer we would not have put in offer.

Had experience in Dec 2021 of that when we were underbid in the end by a cash buyer but the local EA had always been straight up with me during the bidding whenever this Cash Buyer put in a bid.

Congrats. Looks like a great house for that money.

I think that would very much rock the boat.

It's perfectly normal to renegotiate the price based on adverse findings on a survey for example, but why would they agree to renegotiate? They didn't agree to sell you their house based on you achieving a certain sales price for your own.

I would imagine, depending on their circumstances, they will refuse to even open negotiations. (Unless they are desperate to get the sale over the line, and/or there was not a lot of interest in the house initially)