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

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Comments

  • #6962
    niniboots
    Registered Users Posts: 64 ✭✭niniboots


    stampydmonkey wrote: »
    I don't see the issue bar the price of the house. I assume this estate has plenty of green space if it can accommodate a small sewage treatment plant. These have to go somewhere. Have you lived beside a sewage treatment plant? Modern systems emit very little if any odour

    The treatment plant is not small, it's classed as medium, while not a municipal by large scale it is going to be 1000PE, is larger than most small villages. Yes, they are bio friendly and have to go somewhere but the developers have used the green area to the front of the estate. We didn't only view on plans we drove numerous times and the area adjacent is limited. It's 50 meters from the house, we had civil engineer give us a report & based on the fact it is a connection via Irish water after circa 2 years, with a temporary septic tank during that period to service 17 houses. It wasn't something we came to lightly, if the sewage water treatment plant was kept in original place at the back of estate in a much larger area, we would have absolutely gone through with the sale. There were 16 submissions from the locals on the current issues with the 300PE treatment plant and all of the connections from pipe would not be upgraded just the plant & pumping station. Maybe, it would be fine, maybe the septic tank for 2 years would be fine, maybe the plant wouldn't omit odours, maybe the Irish water service would be fine, there were too many maybe's. While I haven't lived directly beside a plant, relations live within 2km of a 3000PE plant and yes there are problems, not all of the time but enough that you can't enjoy your garden at times, it was a very hard decision to make.


  • #6963
    Aisling(",)
    Registered Users Posts: 6,379 ✭✭✭Aisling(",)


    SheepShep wrote: »
    Never ever heard of banks checking you have solicitor and stamp duty fees. Just shows how the process is different for everyone.

    KBC requested to see our solicitors fees/stamp duty in accounts before draw down.


  • #6964
    SheepShep
    Registered Users Posts: 17 ✭SheepShep


    Aisling(",) wrote: »
    KBC requested to see our solicitors fees/stamp duty in accounts before draw down.

    We were KBC too. March. Just payslips though.


  • #6965
    overthebridge
    Registered Users Posts: 531 ✭✭✭overthebridge


    Red Silurian wrote: »
    ...

    A little tip though... Another way of knowing if the house was council/charity bought is to check the address on the Property Price Register... If the sale isn't shown it means they didn't pay stamp duty on it, and only councils (and I think certain charities) are exempt from stamp duty

    Are you sure about this?


  • #6966
    Red Silurian
    Registered Users Posts: 8,359 ✭✭✭Red Silurian


    Ace2007 wrote: »
    What do you mean if the sale isn't shown? As in not on PPR at all?

    Yes, exactly, see below quote from the Stamp Duties Consolidation Act, 1999 Section 106 regarding stamp duty to local authority housing and FAQ about the PPR from the PSR website

    overthebridge wrote: »
    Are you sure about this?

    Yes 100% unless there's a situation where a private individual (or company, vulture fund etc etc) bought it and is now renting it back to the council they would have paid stamp duty on the purchase

    http://www.irishstatutebook.ie/eli/1999/act/31/section/106/enacted/en/html
    106.— Stamp duty shall not be chargeable on any agreement or other instrument made for the purposes of, or in connection with, securing the advancement of moneys to housing authorities (within the meaning of the Housing Act, 1966 ) by the Housing Finance Agency p.l.c.

    http://psr.ie/en/psra/pages/frequently_asked_questions#27.%20What%20is%20the%20Residential%20Pr
    27. What is the Residential Property Price Register?

    The Property Services Regulatory Authority (PSRA) pursuant to section 86 of the Property Services (Regulation) Act 2011 produces the Residential Property Price Register. It includes Date of Sale, Price and Address of all residential properties purchased in Ireland since 1 January 2010, as declared to the Revenue Commissioners for stamp duty purposes.


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  • #6967
    Sweet.Science
    Registered Users Posts: 2,837 ✭✭✭Sweet.Science


    Are opinions on compliance straight forward enough?

    Waiting on the vendor to send one to my solicitor


  • #6968
    Ace2007
    Registered Users Posts: 19,651 ✭✭✭✭Ace2007


    Red Silurian wrote: »
    Yes, exactly, see below quote from the Stamp Duties Consolidation Act, 1999 Section 106 regarding stamp duty to local authority housing and FAQ about the PPR from the PSR website


    Yes 100% unless there's a situation where a private individual (or company, vulture fund etc etc) bought it and is now renting it back to the council they would have paid stamp duty on the purchase

    http://www.irishstatutebook.ie/eli/1999/act/31/section/106/enacted/en/html

    http://psr.ie/en/psra/pages/frequently_asked_questions#27.%20What%20is%20the%20Residential%20Pr

    But it states if you click into them if that are VAT exclusive or not. Why have that box, if they are all only VAT inclusive properties.

    I know Houses that sold 7 months ago that aren't on PPR yet, and they weren't sold on the council either.


  • #6969
    overthebridge
    Registered Users Posts: 531 ✭✭✭overthebridge


    Red Silurian wrote: »
    Yes, exactly, see below quote from the Stamp Duties Consolidation Act, 1999 Section 106 regarding stamp duty to local authority housing and FAQ about the PPR from the PSR website




    Yes 100% unless there's a situation where a private individual (or company, vulture fund etc etc) bought it and is now renting it back to the council they would have paid stamp duty on the purchase

    http://www.irishstatutebook.ie/eli/1999/act/31/section/106/enacted/en/html


    http://psr.ie/en/psra/pages/frequently_asked_questions#27.%20What%20is%20the%20Residential%20Pr

    The house next door to me was bought by Novas in late 2019 and within 3mths it was up on the PPR site. If what you say is the case then either they paid
    Stamp Duty on the house or all houses that have been sold need to go up on the PPR site.


  • #6970
    Red Silurian
    Registered Users Posts: 8,359 ✭✭✭Red Silurian


    overthebridge wrote: »
    The house next door to me was bought by Novas in late 2019 and within 3mths it was up on the PPR site. If what you say is the case then either they paid
    Stamp Duty on the house or all houses that have been sold need to go up on the PPR site.

    Are Novas stamp duty exempt though? Should check that!

    Great charity no doubt but do they realise that ironically they are contributing to the homeless situation by buying up housing stock?
    Ace2007 wrote: »
    But it states if you click into them if that are VAT exclusive or not. Why have that box, if they are all only VAT inclusive properties.

    I know Houses that sold 7 months ago that aren't on PPR yet, and they weren't sold on the council either.

    VAT and Stamp Duty are 2 different things though... Were they sold or are they still only sale agreed? Takes time to sell houses usually and how do you know they weren't sold to the council?


  • #6971
    Ace2007
    Registered Users Posts: 19,651 ✭✭✭✭Ace2007


    Red Silurian wrote: »
    Are Novas stamp duty exempt though? Should check that!

    Great charity no doubt but do they realise that ironically they are contributing to the homeless situation by buying up housing stock?



    VAT and Stamp Duty are 2 different things though... Were they sold or are they still only sale agreed? Takes time to sell houses usually and how do you know they weren't sold to the council?

    The house is sold, because i know who bought it.


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  • #6972
    HannahR31
    Registered Users Posts: 157 ✭✭HannahR31


    I'm just back home after signing off on the 'final inspection' of my new build but the developer hasn't even issued the completion notice yet and won't confirm when we can close the sale.

    End of my tether with this whole thing honestly.


  • #6973
    Red Silurian
    Registered Users Posts: 8,359 ✭✭✭Red Silurian


    Ace2007 wrote: »
    The house is sold, because i know who bought it.

    Double check the address as well, if it has Street, Avenue, or road in it the address might be down as St, Ave or Rd


  • #6974
    Ace2007
    Registered Users Posts: 19,651 ✭✭✭✭Ace2007


    Red Silurian wrote: »
    Double check the address as well, if it has Street, Avenue, or road in it the address might be down as St, Ave or Rd

    Yea the house isn't on PPR, and maybe there is a delay or maybe someone forgot to put it up - but spreading a rumor that if a house isn't up there that's it a council bought isn't helping matters


  • #6975
    Gru
    Registered Users Posts: 1,139 ✭✭✭Gru


    Ace2007 wrote: »
    Yea the house isn't on PPR, and maybe there is a delay or maybe someone forgot to put it up - but spreading a rumor that if a house isn't up there that's it a council bought isn't helping matters

    i have seen in more than a few cases where someone got a digit wrong in the house identifying pin, personal analogy: i spotted a house i knew wasn't for sale on the PPR and the one that was for sale never appeared, it turned out the pin used with revenue was the incorrect one and later fixed, but if you were checking the PPR the sold house never appeared.


  • #6976
    FrankN1
    Registered Users Posts: 903 ✭✭✭FrankN1


    Does anyone know the difference in building regulations between a house built in 2005 vs 2021? I'm considering both but fully aware of Pyrite and poor quality builds throughout the Celtic tiger. However the 2005 house has an extension done and B3 rating. It has a much better layout than the 2021 new build house which is why I'm not eager on the newer one. Both will be similar prices. I will be getting a detailed survey on either.


  • #6977
    houseyhouse
    Registered Users Posts: 686 ✭✭✭houseyhouse


    FrankN1 wrote: »
    Does anyone know the difference in building regulations between a house built in 2005 vs 2021? I'm considering both but fully aware of Pyrite and poor quality builds throughout the Celtic tiger. However the 2005 house has an extension done and B3 rating. It has a much better layout than the 2021 new build house which is why I'm not eager on the newer one. Both will be similar prices. I will be getting a detailed survey on either.

    If you prefer the 2005 one apart from possible building quality issues, then I would get a survey done on it. Be sure you get a good surveyor. If you want more info on changes in building regs, I'd post on the construction forum - there are some very knowledgeable people there


  • #6978
    Landlord21
    Registered Users Posts: 13 ✭Landlord21


    Hi, I would like to sell my property. I have given tenants valid notice.

    What are people thoughts on selling with tenants in situ? They are to vacate by February 2022 officially.

    Never had any issues with them but ive heard its best to wait until tenants have left before putting it on the market.
    With rentals scarce, there is the possibility of them staying due to no suitable accomadation available.

    I can imagine things being difficult (viewings etc..) in the current Covid climate.

    Any thoughts, advice or experiences with this...?


  • #6979
    houseyhouse
    Registered Users Posts: 686 ✭✭✭houseyhouse


    Landlord21 wrote: »
    Hi, I would like to sell my property. I have given tenants valid notice.

    What are people thoughts on selling with tenants in situ? They are to vacate by February 2022 officially.

    Never had any issues with them but ive heard its best to wait until tenants have left before putting it on the market.
    With rentals scarce, there is the possibility of them staying due to no suitable accomadation available.

    I can imagine things being difficult (viewings etc..) in the current Covid climate.

    Any thoughts, advice or experiences with this...?

    Don’t sell with tenants in situ if you can help it. Owner occupiers can’t draw down a mortgage on a property that’s not vacant. Realistically, with tenants there only investors could buy it. Even the council might not be interested.


  • #6980
    Landlord21
    Registered Users Posts: 13 ✭Landlord21


    houseyhouse wrote: »
    Don’t sell with tenants in situ if you can help it. Owner occupiers can’t draw down a mortgage on a property that’s not vacant. Realistically, with tenants there only investors could buy it. Even the council might not be interested.

    Thanks for the reply, I understand that tenants May overhold.

    My only option (if overholding ends up being the case) is to open a case with the RTB?

    It might work out and they may leave on the date, Best to know what options are.


  • #6981
    houseyhouse
    Registered Users Posts: 686 ✭✭✭houseyhouse


    Landlord21 wrote: »
    Thanks for the reply, I understand that tenants May overhold.

    My only option (if overholding ends up being the case) is to open a case with the RTB?

    It might work out and they may leave on the date, Best to know what options are.

    Why are you so sure they'll overhold? You have 8 months before they are due to leave. Surely they can find something in that much time if they really look? I'm guessing their rent could be very low? If so, that's even more reason not to sell with them in situ because it will put investors off.

    I think RTB is your only option if they overhold. As I understand it, it can take years to get people out and the worst part is that at that point there is little incentive for them to keep paying you rent or taking care of the home. You can sue in civil court for the money but chances are you'll never get it.

    But hopefully it won't come to that. Do whatever you can to help them find another place. Perhaps your estate agent will be able to help?


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  • #6982
    Red Silurian
    Registered Users Posts: 8,359 ✭✭✭Red Silurian


    Landlord21 wrote: »
    Hi, I would like to sell my property. I have given tenants valid notice.

    What are people thoughts on selling with tenants in situ? They are to vacate by February 2022 officially.

    Never had any issues with them but ive heard its best to wait until tenants have left before putting it on the market.
    With rentals scarce, there is the possibility of them staying due to no suitable accomadation available.

    I can imagine things being difficult (viewings etc..) in the current Covid climate.

    Any thoughts, advice or experiences with this...?

    I'd say put it up on the market with tennants in situ and see what you get, chances are you will get interest from cash buyers which could make the overall sale process a bit easier

    You also won't be putting tennants out of a home so you can feel good about yourself to some extent


  • #6983
    Ace2007
    Registered Users Posts: 19,651 ✭✭✭✭Ace2007


    Red Silurian wrote: »
    I'd say put it up on the market with tennants in situ and see what you get, chances are you will get interest from cash buyers which could make the overall sale process a bit easier

    You also won't be putting tennants out of a home so you can feel good about yourself to some extent

    And if it doesn't sell, in 8 months time people viewing it will be thinking there is something wrong that it's being left that all this time etc. A cash buyer will also know that you won't be able to sell to a decent % of the population and so can lowball the offer.


  • #6984
    Landlord21
    Registered Users Posts: 13 ✭Landlord21


    houseyhouse wrote: »
    Why are you so sure they'll overhold? You have 8 months before they are due to leave. Surely they can find something in that much time if they really look? I'm guessing their rent could be very low? If so, that's even more reason not to sell with them in situ because it will put investors off.

    I think RTB is your only option if they overhold. As I understand it, it can take years to get people out and the worst part is that at that point there is little incentive for them to keep paying you rent or taking care of the home. You can sue in civil court for the money but chances are you'll never get it.

    But hopefully it won't come to that. Do whatever you can to help them find another place. Perhaps your estate agent will be able to help?

    Appreciate there is time, and possibly jumping the gun. I was basing this on current rental market and the fact the tenants have mentioned they will stay within the área.

    Rent is low, well for the área its well under what the going rate is. Recieve HAP payments but one of the reasons im selling up is, im getting 1,600e a month when homes here going for 2,220 average.

    I didn't put the rent up before the RPZ came in, I should have raised it way up, then I wouldn't be in dire straits.

    That was error on my behalf.

    Tenants have always paid rent, they are there over a decade. House is in excellent condition.

    Will bite the bullet and see what happens.


  • #6985
    Landlord21
    Registered Users Posts: 13 ✭Landlord21


    Ace2007 wrote: »
    And if it doesn't sell, in 8 months time people viewing it will be thinking there is something wrong that it's being left that all this time etc. A cash buyer will also know that you won't be able to sell to a decent % of the population and so can lowball the offer.

    That's true, I will have to think about this again, I have served the papers to the tenants to vacate. Would there be any issue if I decided to pull out and not sell?

    Sorry, new to all this, I can see why LL are getting out with all these taxes and such.


  • #6986
    houseyhouse
    Registered Users Posts: 686 ✭✭✭houseyhouse


    Landlord21 wrote: »
    That's true, I will have to think about this again, I have served the papers to the tenants to vacate. Would there be any issue if I decided to pull out and not sell?

    Sorry, new to all this, I can see why LL are getting out with all these taxes and such.

    If you don't sell within 6 months of tenants leaving you have to offer it back to them.

    You said you didn't put it up before the RPZ came in. Have you put it up at all since?


  • #6987
    Ace2007
    Registered Users Posts: 19,651 ✭✭✭✭Ace2007


    houseyhouse wrote: »
    If you don't sell within 6 months of tenants leaving you have to offer it back to them.

    I've seen this mentioned a few times but not sure how accurate it is. If the house is for sale then it's ok, can't be forced to sell if no offers etc.


  • #6988
    Landlord21
    Registered Users Posts: 13 ✭Landlord21


    houseyhouse wrote: »
    If you don't sell within 6 months of tenants leaving you have to offer it back to them.

    You said you didn't put it up before the RPZ came in. Have you put it up at all since?

    Yes, basically when i purchased it, tenants were there already, bought from a family friend. I had no issues with that or the rent. I undervalued the rent and I could have raised it (before the RPZ) to anything really, but I didn't, and as such i was only then able to increase it by 4% each year, which I have been doing.


  • #6989
    Landlord21
    Registered Users Posts: 13 ✭Landlord21


    Ace2007 wrote: »
    I've seen this mentioned a few times but not sure how accurate it is. If the house is for sale then it's ok, can't be forced to sell if no offers etc.

    Also, how is this enforced? If I don't sell BUT tenants move out, they are hardly going to re-rent from me as they would've have signed a new lease. Seems a bit of a loophole there.

    If I don't sell, I believe I need to inform tenants and can't be seen to tell them im selling purelyto get them out?


  • #6990
    Jafin
    Registered Users Posts: 769 ✭✭✭Jafin


    Hi all, just after a bit of advice. I'm currently sale agreed on an apartment and just got my survey back. Thankfully there is nothing major, mostly just cosmetic stuff needed like the place needing to be painted throughout. The only real issues listed are that the sealant on the shower is poor quality and needs replacing, the bathroom extractor fan should be on a 15 minute delay to avoid condensation build up and that one of the bedroom windows needs to have the hinge and locking mechanism repaired.

    Is there any point in presenting this to the estate agent to ask the seller to carry out the repairs or re-negotiate the price? I was lucky enough to get the property under asking so I will have money left over after moving in to carry out any necessary repairs but these issues seem quite minor to the point that I wouldn't mind just getting them done myself after the sale has gone through.


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  • #6991
    Ace2007
    Registered Users Posts: 19,651 ✭✭✭✭Ace2007


    Landlord21 wrote: »
    Also, how is this enforced? If I don't sell BUT tenants move out, they are hardly going to re-rent from me as they would've have signed a new lease. Seems a bit of a loophole there.

    If I don't sell, I believe I need to inform tenants and can't be seen to tell them im selling purelyto get them out?

    Well your supposed to sign a legal document stating that your intention is to sell - so you probably need a solicitor for that part.


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