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

Also I can’t see the bidding lasting that long so should have answers quickly. It’s €15k over asking with our vendors the highest bidders as of yesterday. Cash buyer is at €10k over asking. Having the house empty should help. If it was lived in the cash buyer is probably ahead regardless of the price.

being honest we should’ve gone a month ago at least. Now our AIP is out of date on the 4th of December. So if we pull out and don’t find a new house before that date we have to go through everything again to get AIP!!! That’s what our EBS advisor told us! We can receive a new loan offer before that date that’ll last 6 months!

I always thought that AIP was gone once a loan offer was given!

yeah, I dont disagree with you, 200k is a big difference, but those houses are very different. Like very very different. Alot of people are saying that the ballybough end has a bearing, it might do, but I can't move the house!

The killer on this is that every house we look at goes for at least 10% over asking where as ours is the opposite. I didn't set the price either, obviously the EA did but the market is not there maybe just right now. Hence the view of spending €10k to really push it next year. Its a risk that could backfire, but if we have nobody viewing, we have to do something!

Its on Myhome alright, just not under 'clonliffe' for some reason.

We signed and returned contracts to our buyer on Wednesday. Awaiting their drawdown and deposit of funds to our Solicitor now.

Then it's redeem the balance of Mrs Banie01's mortgage and sort out the CGT calc.

We wish our former tenants all the best in what's been their home since 2015, and now it's theirs lock, stock & barrel. We will arrange a housewarming gift of a Home store voucher for them when sale closes.

That's us back to being a 1 house family and out of the landlord game for good. We were very lucky with our tenants, they've been there since we 1st let it out and we are delighted that we sold to them.

Recent weeks we completed purchase of new home followed few weeks later by sale of previous home.

We were looking for long time. I think in hindsight we were too focused on finding value and were chasing moving target. We had location as main factor so eventually accepted we were price takers. But at least we caught that same market selling too.

It made a huge difference we did not have to sell to buy. Bank was defacto able to get comfortable we could cover old house mortgage with rent so we could get 3.5x still. Always intended selling but meant better placed bidding as not in chain and made moving out more comfortable.

We just wanted some extra space as kids had come along since first bought and both now working from home for most of the week.

I can't describe the weight off my shoulders. Its amazing seeing kids with space to move around in and change in them. Under no illusions that new house is it and will be pouring money into it for years. But amazing to be done.

I loved checking in on boards to see how others getting on. Made me feel like was in it with others.

Anyway keep going everyone. It is worth it in the end.

I am noticing few houses who initially when brought on the market 6 months ago, were flying off the shelf with bidding above. Now coming back on the market with different estate agent. So they didn't fly off the shelf.

I wonder if the estate agents have some agreement between them like if you don't sell X house, I will take over in months later.

Anyone else spotting houses coming back for sale, houses who apparently were flying off shelf in days?

I've not really been paying attention since buying, but I have seen this quite a lot. I'd say that in the case of a post-bidding war overshoot of tens of thousands, the "successful" bidder often realises what they've done when the emotional side of things calm down. Our good friend Auctionera seems especially adroit at generating sales well above the asking price that eventually fall through. It's a good example of how this egregious c**p from EAs is bad for sellers as well as buyers.

Yes definitely few playing their shenanigans.

What I have noticed here in Galway City is signs with "Under Offer" plastered on them for a number of weeks, rarely seen that last year.

Yep, almost criminal how prices are creeping up.

Our estate was advertised as 300k, which became 350k when I bought, and those in the next phase are at 380k. I noticed as well the houses in the next phase have a few little features removed to bring down costs.

Paper never refused ink, and journalistic standards are p*ss poor. I would imagine that any variability is just seasonal demand rather than a trend.

I was reading something about Irish property prices, and the consensus was that prices won't fall as sellers are not motivated enough to drop them.

There's not enough quality housing for current homeowners to upgrade to, and the numbers in mortgage arrears are still very small as most are on fixed rates. So sellers are happy to wait for more motivated buyers.