first time buyer

brisan · 24-11-2020 10:29pm

Dav010 wrote: »

I do, that is why I think your posts about phantom bidders and severe reservations are pointless because they are baseless. Not all bidders bid/act like experienced property buyers, that does not mean they don’t exist though. If a bidder wants to waste €500 or a vendor wants to consider a bid without AIP, so be it, you or I wouldn’t do it, but that comes with experience.

Comes with common sense and a reputable EA telling a bidder not to bother getting a survey done until his bid has been accepted
I know I know its not legally required before you claim I said it was .but any reputable EA (and there are a few ) will tell a bidder this

riclad · 24-11-2020 10:35pm

You can make a bid and say I.ll be getting a full survey
if the bid is accepted,
Let's say the survey says there a problem with roof,
walls etc it, ll cost 30k to fix it
You may choose to withdraw your bid. I would not even consider making any bid on a house if I see the sign
Sale agreed eg bid has been accepted the legal process of drawing up documents to sell the house is ongoing
No more than I would ask a girl out on a date
if she was engaged to be married
Sale agreed means the agent and the seller have
received a bid the bid has been accepted the buyer, owners solicitors are no going through the process of exchanging documents to complete the sale of the house
I would not spend 500 euro on a survey unless my bid was accepted
and the agent told me it would be marked sale agreed at a certain specific date

brisan · 24-11-2020 10:38pm

riclad wrote: »

You can make a bid and say I.ll be getting a full survey
if the bid is accepted,
Let's say the survey says there a problem with roof,
walls etc it, ll cost 30k to fix it
You may choose to withdraw your bid. I would not even consider making any bid on a house if I see the sign
Sale agreed eg bid has been accepted the legal process of drawing up documents to sell the house is ongoing
No more than I would ask a girl out on a date
if she was engaged to be married
Sale agreed means the agent and the seller have
received a bid the bid has been accepted the buyer, owners solicitors are no going through the process of exchanging documents to complete the sale of the house

The bit in bold is the salient point

24-11-2020 10:42pm

While I would agree with you riclad, that is the way it should, and normally would work. But at the moment some banks are reneging on previously granted AIP if the applicant is temporarily out of work or their employer is availing on wage subsidy schemes, so I am not surprised that vendors are considering offers even after going sale agreed. Unless the buyer is a cash buyer, finance is not assured. It’s not a nice way of doing it, but it is practical.

Sale agreed is just a “gentleman’s” agreement until contracts are signed.

riclad · 25-11-2020 8:46pm

When i say sale agreed ,i,m assuming the potential buyer has the funds to buy the house , the buyer is earning enough to pay the mortgage and has an agreement from the bank to have acess to a loan to fund the purchase of the house .
eg the buyer is still working full time and has the salary that was submmitted to the bank when the mortgage application was made.
i understand many retail shops and business,s are closed at the moment and
so business,s may not survive the pandemic and many people are losing their jobs .

first time buyer

Comments