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

That sounds more like a bank valuation survey to make sure the house is worth what the mortgage will be.

If you have a mortgage the bank will have the deeds.

In a few months, suss out buying out your ground rent if none of the previous owners did so.

Well congrats. Id be giving your solicitor a call or email to see what the process / timeline is.

You should definitely been handed the deeds of the house as you paid in full. Then solicitor will ask you if you want for them to store them. Ask your solicitor please pronto

As someone looking a few years and passed on houses for 'not being worth that'...Ive learned hard way. Basically forget about value. Just ask yourself if someone else got the house tomorrow how would you feel. You get to decide two of three 1. where you want to live, 2. What size house you want and 3 how much willing to pay. Its hard to get all 3...usually have to compromise on one. Im finally realizing as an expensive lesson that once fing house ya like like, can afford it and would stay in it long term then just go ahead. Have to hold the nose when it comes to price unfortunately in current market

It all depends on how much are you in a rush to buy?

If I was you, I would go back to EA and offer asking price only!

You offered 60k over asking price because it was fueled by two other buyers who when it came to cough up what they allegedly offered, they could not come up with the funds. Think of it, you need to earn 120k before tax in order to pay that 60k over asking price!

I have noticed houses that should be no more than 300k, nowadays are over 400k. I came across a house yesterday that the location that it is in, should not cost more than 395k even in the current market yet it was priced 585k! The sheer madness. Should I add the 585k wasn't even top designer walk in to somewhat justify the extra in asking price.

I agree with your thinking but how do you know what will happen in further future? With further increases in interest what some people may well afford now, things may get tight in couple of years. So final price you pay matters. I know few people in 2007 well afforded their loans while later they couldn't.

Fair point, but I guess banks are stress testing people to very high rates these days so they deem that you will still be able to afford your repayments should rates rise further.

I get that paying as little as possible is obviously the optimal scenario. But if I was in the situation of the poster above and was offered a house I really wanted at X amount to secure it I would have no issue doing that if it was between that and losing the house. Obviously making sure I could comfortably afford the repayments at the price.

Na they flat out rejected we’re told nothing under €340k would be acceptable

It’s the gap length between bids Is what annoys me. I’m sure there’s no underhanded thing going on! Just frustrating. We went with asking price. So we’ll see how that goes. I’ve heard nothing back

And they let it sit there , hoping that the seller will lower his asking.

the market sets the price. In that something is only worth what someone is willing to pay.

Yes this...I viewed a house last week and got talking to the EA. I was commenting on the recent surge in buyers and prices and he tells me he went sale agreed that very day at 410k for a bog standard 3-bed ex-corpo house in Drimnagh. On the very same road last January, a similar standard 3-bed ex-corpo with garage, the vendor was happy to go sale agreed with me at 300k. Now we can talk about levels of finish etc., but in reality, there's a current madness that's gripped the market.

I hadn't approval last summer so wasn't really looking, but can anyone confirm if the madness was similar last Summer?

I've been keeping an eye in my local area in Dublin, and there seems a better supply this summer than last summer for the type of house I was buying (4 bed semi-d).

The asking prices are higher this year, but from what I've seen so far on the property price register, the sale prices are lower than a year ago.

A house around the corner I rented for almost 10 years has been on the market now for almost 5 months. It's a pretty clear sign to me that the market has turned, because I know the owners will be trying to match what a couple of other houses in the street got last year, and they're obviously failing.

When you see something like this for that price in Santry 🤣, delusional is in full swing. 1.7 million.