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

whatever99 · 28-11-2020 11:21am

Canyon86 wrote: »

Hi All

To give an update
The AIB released my funds, solicitor has them now
I'm on track to close on Monday buzzing

Do you mind me asking how long it took from you signing the contracts for the funds to be requested by your solicitor? And how long for the funds to reach the solicitor? I’m a buyer and signed on Wednesday, closing is down as 9th Dec, 2 weeks after signing. Vendor wants to move quickly too, so I’m really hoping to close on that date! I’m also with AIB.

random_banter · 28-11-2020 12:39pm

The posts above have all really hit close to home with me. We’ve been looking all year and have seen the supply get from bad to worse. And all around me my peers who said this would be a terrible year to buy have gone ahead and done it.

I’m going to be 35 in a few months, my partner is a couple of years ahead of me. We’ve finally identified an area that ticks boxes for us. We’ve seen lots of houses. They go within a week or so in many cases. Bidding wars for nearly all of them. It is South Dublin after all! Last week we decided we’d need to wait till the spring and hope supply improves - things are going for over what they’re worth at the moment. We could save a little more too. At the moment you could have a house selling for 650k (overpriced IMO) that needs 200k worth of work and you know it’ll never be an 850k house to sell. There seems to be a lot of desperation out there, a willingness to go too far on a house just to get one. We want to stay in the house for life but understanding what you put in vs what you’d get out if selling is still important IMO.

Anyway after making the decision to wait until next year and knowing that these seem to be the market conditions at the moment, a house popped up a few days ago. It ticked every box and was the best fit yet. I felt like perhaps this was our one and we might have a chance. Needs a lot of work. Which could put people off. Great.

We were the second viewer yesterday on the first day of viewing. I fell in love with it. The EA informed me that the first viewer offered asking price as soon as they walked in the door. We knew then we wouldn’t have a chance. EA reckons it will go for 70-90k over asking (lunacy from the buyers in my opinion, so much work required).

Anyway after all that, the hope was sucked out of me. We didn’t even have a chance! A few tears were shed on the way home.

Starting to accept that it’s going to take years for this to happen but I feel myself getting older too.

Just want to say thanks to everyone for sharing their similar experiences, it is good to get other perspectives.

theboringfox · 28-11-2020 12:48pm

Smiley11 wrote: »

The problem I'm facing is that my husband is becoming more anxious to just get a house in one of our areas & be done with it. Whereas, I want to find a house I love with the potential to make it ours. I'm still licking my wounds over losing a house like that but to me, it just wasn't worth where the bidding got to. I just think stepping back for 2 or 3 months will help us get a bit of perspective & hopefully the supply will improve in the spring. Might be wishful thinking on my part but you never know with the property market what way its going to go at any given time really. The current situation is a case in point!

Ya my sentiments are very similar. I also think the govt has been propping up economy. I am fearful there is a downturn next year. It is mainly how bad the supply is though. I think next year more ppl comfortable selling and youll see something a little better and some of the madness disappears.

Hope your viewing goes well though and it ends up being the house for ye!

Smiley11 · 28-11-2020 8:40pm

theboringfox wrote: »

Ya my sentiments are very similar. I also think the govt has been propping up economy. I am fearful there is a downturn next year. It is mainly how bad the supply is though. I think next year more ppl comfortable selling and youll see something a little better and some of the madness disappears.

Hope your viewing goes well though and it ends up being the house for ye!

Thanks but its not..humouring my husband who tends to be a bit impetuous under pressure! I personally feel that the only thing for this market is a break from it! Its insanity. Genuinely wish we were selling our house now rather than last year as we had to drop the price to offload it this time last year!

Smiley11 · 28-11-2020 8:46pm

random_banter wrote: »

The posts above have all really hit close to home with me. We’ve been looking all year and have seen the supply get from bad to worse. And all around me my peers who said this would be a terrible year to buy have gone ahead and done it.

I’m going to be 35 in a few months, my partner is a couple of years ahead of me. We’ve finally identified an area that ticks boxes for us. We’ve seen lots of houses. They go within a week or so in many cases. Bidding wars for nearly all of them. It is South Dublin after all! Last week we decided we’d need to wait till the spring and hope supply improves - things are going for over what they’re worth at the moment. We could save a little more too. At the moment you could have a house selling for 650k (overpriced IMO) that needs 200k worth of work and you know it’ll never be an 850k house to sell. There seems to be a lot of desperation out there, a willingness to go too far on a house just to get one. We want to stay in the house for life but understanding what you put in vs what you’d get out if selling is still important IMO.

Anyway after making the decision to wait until next year and knowing that these seem to be the market conditions at the moment, a house popped up a few days ago. It ticked every box and was the best fit yet. I felt like perhaps this was our one and we might have a chance. Needs a lot of work. Which could put people off. Great.

We were the second viewer yesterday on the first day of viewing. I fell in love with it. The EA informed me that the first viewer offered asking price as soon as they walked in the door. We knew then we wouldn’t have a chance. EA reckons it will go for 70-90k over asking (lunacy from the buyers in my opinion, so much work required).

Anyway after all that, the hope was sucked out of me. We didn’t even have a chance! A few tears were shed on the way home.

Starting to accept that it’s going to take years for this to happen but I feel myself getting older too.

Just want to say thanks to everyone for sharing their similar experiences, it is good to get other perspectives.

My heart goes out to you because I've shed those tears. Its awful & I made the mistake of falling for a house but just couldn't justify the insanity of the price plus renovation. I'm still gazing at it every day! I know I'll be happy in the home we find eventually but I just find it all too intense & cut throat at the moment. I'm hoping calm prevails in the next 6 months. Don't feel too disheartened..we're in our 40's with a young family & living between our very kind parents homes. We'll all get there eventually but the current market just isn't for me, I'm too soft!

Dolbhad · 28-11-2020 10:41pm

Financesetc. wrote: »

Smily11 listen up. Listen to what i am saying and if it doesnt confince you to buy then you will never buy.
1. I starter looking at new homes in 2013 was saving for the deposit, new builds were lest than 200k for 3 bed semi d, fast forward to 2020 the same 3bed semis are 295k. So in 7 years they have gone uo over 95k, faster than i can save and faster than my wages increase to match it. Banks would only loan me 165k in 2013 as it was a single application. For years me and my partner when we got joint approval were nit picking homes that we viewed. We have put off having kids because we live in a rough area and didnt want to bring our kids up in that environment, too easy to go down the wrong road when they would hit there teens, fall in with the wrong crowd, drinking smokimg weed dropping out school etc. So we saved and saved and viewed and viewed and nit picked and nit picked, too small, too expensive etc. Now i/ we are still in the same place and in our 30s, life is passing by and we have not had the kids we planned to have. I got and epiphany a few months back and that was the turning point.
I taught to myself if we keep going the way we are going we will be still here when we are dead.
No kids, life wasted waiting for the right house right price, right area. And i taught in my head if i died in the morning my long term partner would be stuck here forever l, income not enough to buy a house on her own, no kids, grieving, sad, having to deal with all the anti social **** in the area. I said to myself we will buy that house we want even its over price but its in a nice area, good schools, a great place to bring up a family. And at least we are there what ever happens we are there. Taking away point- If i died in the morning where would i want my family to be.In that new house, it would be payed off from the insurance, it hers, she is safe the kids are safe, id rather be set up in a nice house, nice area and set up my loves ones when i am alive than be dead and be no help.
Dont wait too long, life is short, dont do what we did and spent the last 7years dreaming and wondering and wasting life. Its only now that we are actully doing we are finally buying. We are all going to die some day. Buy the house and live your life. You cant take money with you. When your dead your gone its too late. Spend it now while you can and live the one life that is giving to us.

This was me. We starting viewing houses at the start of 2018. Had secured a new build but at the time it felt like we were settling as the location etc didn’t suit us. Those houses are going for about 40k more than we were paying. Then in 2020 we saw the market just dry up. We had been saving since but bidding was getting insane and it was going from bad to worse. I was willing to accept anything now.

Everyone kept saying “what’s meant for you, won’t pass you by”. I hated that. We were heading
Into our 30’s and no good having the savings when we couldn’t live together. The covid hit and we were on covid payments and I felt like we had missed our boat for a few years. We also were now getting less off the bank than we were on 2019. It was a tough time.

Then we chanced viewing a house where asking was well over our budget but asking was overpriced. But we managed to secure at our max budget. Yes there are issues - sellers have had to underpin a wall and fix drains but it ticks all our boxes. We have exchanged contracts and waiting to close. I still can’t believe it. 3 months ago we were ready to give up for a while.

goingagain · 29-11-2020 12:50am

We’re hoping to sign this week and the close after Christmas. This is our third house.

Currently live in a 4 bed semi in south Dublin and when we moved into this in 2009 I thought we’d never move. In 2009 the market was falling but my sister bought around the corner from us for 120k less in 2011 and that stung. But in reality by 2011 our circumstances had changed and we wouldn’t have secured a mortgage to buy (we still own house no 1, 2005 purchase, rented out) But we could always afford to repay our mortgage and live happily. We had our family living in this house and we’re very happy here. We renovated over the years and did an extension etc

We have a big budget for our move and still found we had to make some big compromises. What we wanted wasn’t out there, but we want to buy and get on with our lives and not spend the next 3 years in limbo looking for the perfect house so we decided to make those compromises.

goingagain · 29-11-2020 12:54am

Also to add we viewed 3 house , no 1 we liked but decided no. No 2 we loved and bid heavily on. It went over 20% over asking and we pulled out as we felt it wasn’t worth it. No 3 we hated.

.... we went back and decided to compromise and bought no 1.

We had a search area of 5 roads, it was all about location to us.

lcarrol3 · 29-11-2020 1:38pm

Hi everyone

we've been informed by our developer that the completion notice is due to be issued on our new build by Monday week (7th). We're signing off our loan offer this week and the broker has informed the bank we will be going straight to cheque issue after this. I have my solicitor informed and ready to move as soon as the notice is issued.

The developer has told us that booking leave the week of the 14th is most reasonable and we should be in for this. I want to organise floors and carpets etc to be delivered, does this seem like a reasonable time frame to be in by early that week? We're drawing down with Ulster Bank if that makes a difference.

Thanks for your help in advance!

cubatahavana · 29-11-2020 2:16pm

lcarrol3 wrote: »

Hi everyone we've been informed by our developer that the completion notice is due to be issued on our new build by Monday week (7th). We're signing off our loan offer this week and the broker has informed the bank we will be going straight to cheque issue after this. I have my solicitor informed and ready to move as soon as the notice is issued.

The developer has told us that booking leave the week of the 14th is most reasonable and we should be in for this. I want to organise floors and carpets etc to be delivered, does this seem like a reasonable time frame to be in by early that week? We're drawing down with Ulster Bank if that makes a difference.

Thanks for your help in advance!

You need to snag and then it’ll take probably a couple of weeks to fix issues. You could move in before all snags are completed if what’s left is not too important and they confirm that they’ll fix it later.

lcarrol3 · 29-11-2020 2:19pm

cubatahavana wrote: »

You need to snag and then it’ll take probably a couple of weeks to fix issues. You could move in before all snags are completed if what’s left is not too important and they confirm that they’ll fix it later.

Apologies, I should have been more clear. We've snagged and gone for our desnag on Tuesday gone. Monday the 7th is due to be the final completion notice.

Cash_Q · 29-11-2020 6:34pm

I asked earlier in the thread but may have been missed by those with experience;

Anyone with recent experience able to share their drawdown times from KBC?

Solicitor submitted all documents required on Thursday 26th Nov, we have also submitted all documents requested e.g. recent payslips etc..

Solicitor is requesting funds for 3rd Dec but not expecting them through until 11th..

cubatahavana · 29-11-2020 9:50pm

Cash_Q wrote: »

I asked earlier in the thread but may have been missed by those with experience;

Anyone with recent experience able to share their drawdown times from KBC?

Solicitor submitted all documents required on Thursday 26th Nov, we have also submitted all documents requested e.g. recent payslips etc..

Solicitor is requesting funds for 3rd Dec but not expecting them through until 11th..

We’ve requested funds for 1/12 and our broker told us that it’s scheduled for that day

whatever99 · 29-11-2020 10:19pm

cubatahavana wrote: »

We’ve requested funds for 1/12 and our broker told us that it’s scheduled for that day

When did you sign? Just wondering what the usual timeline is between signing and funds being drawn down. Thanks.

Cash_Q · 29-11-2020 10:35pm

cubatahavana wrote: »

We’ve requested funds for 1/12 and our broker told us that it’s scheduled for that day

Thank you yes I saw you posted that the other day, fingers crossed for you that your broker is spot on, they do this so regularly that they would have a good idea wouldnt they. Remind me when they were requested if you don't mind?

cubatahavana · 29-11-2020 10:48pm

Cash_Q wrote: »

Thank you yes I saw you posted that the other day, fingers crossed for you that your broker is spot on, they do this so regularly that they would have a good idea wouldnt they. Remind me when they were requested if you don't mind?

Last week, I think Tuesday. I hope it happens

cubatahavana · 29-11-2020 10:49pm

whatever99 wrote: »

When did you sign? Just wondering what the usual timeline is between signing and funds being drawn down. Thanks.

We signed about three weeks ago. Can’t remember the exact date.

brisan · 30-11-2020 8:14am

random_banter wrote: »

The posts above have all really hit close to home with me. We’ve been looking all year and have seen the supply get from bad to worse. And all around me my peers who said this would be a terrible year to buy have gone ahead and done it.

I’m going to be 35 in a few months, my partner is a couple of years ahead of me. We’ve finally identified an area that ticks boxes for us. We’ve seen lots of houses. They go within a week or so in many cases. Bidding wars for nearly all of them. It is South Dublin after all! Last week we decided we’d need to wait till the spring and hope supply improves - things are going for over what they’re worth at the moment. We could save a little more too. At the moment you could have a house selling for 650k (overpriced IMO) that needs 200k worth of work and you know it’ll never be an 850k house to sell. There seems to be a lot of desperation out there, a willingness to go too far on a house just to get one. We want to stay in the house for life but understanding what you put in vs what you’d get out if selling is still important IMO.

Anyway after making the decision to wait until next year and knowing that these seem to be the market conditions at the moment, a house popped up a few days ago. It ticked every box and was the best fit yet. I felt like perhaps this was our one and we might have a chance. Needs a lot of work. Which could put people off. Great.

We were the second viewer yesterday on the first day of viewing. I fell in love with it. The EA informed me that the first viewer offered asking price as soon as they walked in the door. We knew then we wouldn’t have a chance. EA reckons it will go for 70-90k over asking (lunacy from the buyers in my opinion, so much work required).

Anyway after all that, the hope was sucked out of me. We didn’t even have a chance! A few tears were shed on the way home.

Starting to accept that it’s going to take years for this to happen but I feel myself getting older too.

Just want to say thanks to everyone for sharing their similar experiences, it is good to get other perspectives.

I would consider myself experienced enough in the property market
I /we are in out fourth family home
i /we have had 4 investment properties
Along with my brothers we have flipped over 30 properties
You have to look at your home different to a house
I/we overpaid (knowingly and willingly )for our last 3 homes ,but never overpaid for an investment property.
If its what you want and you can see yourself raising a family happily there for a long time then go ahead and buy.
We paid 500k for a shell,20k builders deposit vendor already paid ,and 50k expected vendors profit for our last home to ensure it did not go on the market
We put 200k into it doing a lot of the work ourselves and with family and mates rates
Would we get 770k back ,i doubt we would get 650k
However we are in a home that will be perfect for us till we die ,in our preferred area with everything on our doorstep
You buy a house with your head
You buy a home with your heart and your head
As another poster said live your life .its not a dress rehearsal
Negative equity is only a factor if you have to sell
If you can afford the mortgage and live a decent standard of living go ahead
You cannot continually put your life on hold

Cash_Q · 30-11-2020 8:19am

cubatahavana wrote: »

Last week, I think Tuesday. I hope it happens

Yes I hope it happens for you too!

squareboy007 · 30-11-2020 12:39pm

Hi All,

I've read all the possible drawdown time lines for KBC, PTSB and AIB.

Ulster Bank received the last of our drawdown documents on Friday morning and advised us 2/3 workings days. Is this at all likely?

Cheers.

omicron · 30-11-2020 2:22pm

squareboy007 wrote: »

Hi All,

I've read all the possible drawdown time lines for KBC, PTSB and AIB.

Ulster Bank received the last of our drawdown documents on Friday morning and advised us 2/3 workings days. Is this at all likely?

Cheers.

I haven't drawn down yet with Ulster but everything so far has been really quick, underwritten AIP within 48 hours and loan offer within 3 working days from when I submitted documents so they seem to be fairly quick.

squareboy007 · 30-11-2020 2:55pm

omicron wrote: »

I haven't drawn down yet with Ulster but everything so far has been really quick, underwritten AIP within 48 hours and loan offer within 3 working days from when I submitted documents so they seem to be fairly quick.

They have been good so far and yes generally quite quick.

PinkSpark · 30-11-2020 3:47pm

squareboy007 wrote: »

They have been good so far and yes generally quite quick.

If you don’t mind me asking, what documents did they ask for drawdown? We’re close to drawdown ourselves with Ulsterbank just waiting for sign contracts but our advisor in UB is constantly on leave and finding it hard to get information on what we need. Just really want to have everything ready to go

Starlord_01 · 30-11-2020 3:59pm

Loan offer received and sent to solicitors today - all we are waiting on is a closing date from the vendor :eek:

squareboy007 · 30-11-2020 4:01pm

PinkSpark wrote: »

If you don’t mind me asking, what documents did they ask for drawdown? We’re close to drawdown ourselves with Ulsterbank just waiting for sign contracts but our advisor in UB is constantly on leave and finding it hard to get information on what we need. Just really want to have everything ready to go

1st thing is to look at your loan offer. It will have a list of documents. Ours was:
- Declaration from us that our financial position hadn't changed and that we are still happy to drawdown
- Latest payslips and 2 months current account statements
- Letter that House policy has been assigned
- Various Life policy documents
- Funds request from solicitor
- Confirmation that we had sold our previous house and had the deposit. (our solicitor did a letter for us)
- marriage certificate ...Random!

pooch90 · 30-11-2020 6:36pm

squareboy007 wrote: »

1st thing is to look at your loan offer. It will have a list of documents. Ours was:
- Declaration from us that our financial position hadn't changed and that we are still happy to drawdown
- Latest payslips and 2 months current account statements
- Letter that House policy has been assigned
- Various Life policy documents
- Funds request from solicitor
- Confirmation that we had sold our previous house and had the deposit. (our solicitor did a letter for us)
- marriage certificate ...Random!

We have been asked for our marraige cert for AIP. It was because my bank accounts are in my maiden name. Could that be why?

brisan · 30-11-2020 7:48pm

squareboy007 wrote: »

1st thing is to look at your loan offer. It will have a list of documents. Ours was:
- Declaration from us that our financial position hadn't changed and that we are still happy to drawdown
- Latest payslips and 2 months current account statements
- Letter that House policy has been assigned
- Various Life policy documents
- Funds request from solicitor
- Confirmation that we had sold our previous house and had the deposit. (our solicitor did a letter for us)
- marriage certificate ...Random!

I may be wrong but a marriage cert gives both parties more legal and equal rights to the property

michellie · 30-11-2020 9:39pm

We signed contracts last week, AIB submitted everything for drawdown and I got a text from them this morning to say they received everything from the solicitor. Hoping to close on the 10th /11th.

Starlord_01 · 01-12-2020 9:28am

michellie wrote: »

We signed contracts last week, AIB submitted everything for drawdown and I got a text from them this morning to say they received everything from the solicitor. Hoping to close on the 10th /11th.

Congrats! Hope you've your Christmas tree ready!!

Sweet.Science · 01-12-2020 10:51am

So another house that's been on the market for 2 months or so . Im the only bidder yet the seller won't accept

Does't feel right to be bidding against myself. The market isn't dictating the value like the cliche its the seller

I'll probably move on. Again

Cash_Q · 01-12-2020 11:02am

Sweet.Science wrote:

So another house that's been on the market for 2 months or so . Im the only bidder yet the seller won't accept

Have you asked if they have a figure in mind that they are happy to close on? I know it feels wrong to outbid yourself but if they cant accept your offer and you really want the house then check of their minimum is within your maximum.

When we sold our house is was valued at 265-285k so of course we wanted the 285 as it would give us a considerably bigger deposit and with that a much bigger budget. Bids were slower than we liked compared to what we were seeing with the houses we viewed, so we realised that we would have to take less but we genuinely couldnt afford to take any less than 270k because we needed to walk away with X amount after clearing the mortgage. We took 271k in the end because they were stronger buyers than the 270k bid. Sale agreed 5 weeks on the market.

The point I'm trying to make is that they might not be holding out for as much as they can get, they simply might not be able to afford to sell at the price you've bid.

Sweet.Science · 01-12-2020 11:06am

Cash_Q wrote: »

Have you asked if they have a figure in mind that they are happy to close on? I know it feels wrong to outbid yourself but if they cant accept your offer and you really want the house then check of their minimum is within your maximum.

When we sold our house is was valued at 265-285k so of course we wanted the 285 as it would give us a considerably bigger deposit and with that a much bigger budget. Bids were slower than we liked compared to what we were seeing with the houses we viewed, so we realised that we would have to take less but we genuinely couldnt afford to take any less than 270k because we needed to walk away with X amount after clearing the mortgage. We took 271k in the end because they were stronger buyers than the 270k bid. Sale agreed 5 weeks on the market.

The point I'm trying to make is that they might not be holding out for as much as they can get, they simply might not be able to afford to sell at the price you've bid.

Yeah i may do that . I agree in people like your position every thousand counts. However, when the seller has bought their house for around 20k and are selling for >360k its harder to accept

Cash_Q · 01-12-2020 11:19am

Sweet.Science wrote:

Yeah i may do that . I agree in people like your position every thousand counts. However, when the seller has bought their house for around 20k and are selling for >360k its harder to accept

Yes it is harder to accept but if the house next door was bought for 360k and you got it got 360k it's still the same house at the end of the day. You have to take personal issues like that out of it, which I know is hard! We are paying 300k for our house and they bought it for ~30k in the 80s, not their fault the market was like that then, not their fault the market is like this now. If you pay 360k for it now, who knows what you'll sell it for if you ever do. We bought that house in 2018 and if our buyers had checked the PPR and were insistent on getting it for the price we paid, well they wouldnt have gotten it, simple as that.

cubatahavana · 01-12-2020 3:37pm

According to our broker, KCB has relesed the funds today. Friday (closing day) is getting closer!

Cash_Q · 01-12-2020 7:49pm

cubatahavana wrote:

According to our broker, KCB has relesed the funds today. Friday (closing day) is getting closer!

Brilliant! I've been onto the completions team today and tomorrow and just have two outstanding bits to sort before they issue funds so looking at next week as expected. Best of luck for Friday!

lcarrol3 · 01-12-2020 8:02pm

squareboy007 wrote: »

Hi All,

I've read all the possible drawdown time lines for KBC, PTSB and AIB.

Ulster Bank received the last of our drawdown documents on Friday morning and advised us 2/3 workings days. Is this at all likely?

Cheers.

I'd really appreciate if you could keep us posted if this pulls through - we're drawing down with Ulster next week!

fisgon · 01-12-2020 10:22pm

I finally signed contracts yesterday. My solicitor has said I should be in by Christmas - he hopes for funds in two weeks, closing in three.

Let's see. I'll believe it when I am in the door.

Pink11 · 02-12-2020 12:09am

Once you have funds released, solicitor confirms its closed etc - what happens then? When do you actually get the keys typically?

michellie · 02-12-2020 12:44am

Starlord_01 wrote: »

Congrats! Hope you've your Christmas tree ready!!

Thanks its in the attic desperate to be taken down!! Hate not having the decorations up yet haha

Cash_Q · 02-12-2020 8:54am

Pink11 wrote:

Once you have funds released, solicitor confirms its closed etc - what happens then? When do you actually get the keys typically?

As fast as the estate agent can get them to you. When we bought our first house we got the keys the next day but only because we were away on the day itself. When we sold our house in October we gave the keys to the estate agent the day it closed and the buyer was seen at the house that evening. We are due to close next week and I'll be expecting the keys on the day after a 10 week delay with probate!

cubatahavana · 02-12-2020 12:15pm

lcarrol3 wrote: »

I'd really appreciate if you could keep us posted if this pulls through - we're drawing down with Ulster next week!

The purchasers of my apartment are with Ulster. I'll let you know if they have delays

cubatahavana · 02-12-2020 5:14pm

lcarrol3 wrote: »

I'd really appreciate if you could keep us posted if this pulls through - we're drawing down with Ulster next week!

Was told funds were released to purchasers solicitor today, so no delays

squareboy007 · 02-12-2020 5:17pm

cubatahavana wrote: »

Was told funds were released to purchasers solicitor today, so no delays

Could you let us know when UB had all the documents required for drawdown? Thanks

cubatahavana · 02-12-2020 6:28pm

squareboy007 wrote: »

Could you let us know when UB had all the documents required for drawdown? Thanks

I think the EA said that they submitted everything 2 weeks ago. Don’t know when they requested it though

jokettle · 02-12-2020 8:22pm

We went sale agreed August 1st. Contracts finally signed by both parties 2 weeks ago (don't even get me started about the faffing about between August 1st and now!). Once we had signed, our solicitor wrote to KBC to request they advance the funds. He hasn't heard anything back yet, so he's writing to them again to remind them.

We're in no rush to move, there's no pressure on us to leave where we currently are so it doesn't make a huge difference to us how long it takes. To be honest it would be fine by us if we didn't close until the new year, just so we could relax over the Christmas break. Having said that, I'd love to know how long it will take the bank to give us the go ahead! They were quick enough to give us the formal loan offer back in August, so this delay seems slightly unusual.

lcarrol3 · 02-12-2020 9:18pm

cubatahavana wrote: »

Was told funds were released to purchasers solicitor today, so no delays

Amazing!! We got our finalised loan offer today and they've sent offer on the wrong house... So hopefully this won't set us back too far :pac:

fisgon · 02-12-2020 10:43pm

Pink11 wrote: »

Once you have funds released, solicitor confirms its closed etc - what happens then? When do you actually get the keys typically?

From what I understand it takes 2 weeks to get the funds after signing the contracts (no idea why) and then another week or two before you close, which is when you get the keys.

No one has explained to me these week/ two week delays.

Canyon86 · 02-12-2020 10:45pm

Pink11 wrote: »

Once you have funds released, solicitor confirms its closed etc - what happens then? When do you actually get the keys typically?

I closed last monday timeline as follows

10:00 pre inspection on house to make sure all OK
I rang solicitor after and said to release funds onwards

Got the keys at lunch

Canyon86 · 02-12-2020 10:47pm

Hi all

I am delighted to say I have received the keys
To my new home
Delighted!

Thanks for all the help and advice on this forum
I will try and pass on any advice to other posters as
Best I can

I would like to wish everybody good luck on their
Home journey!

Dolbhad · 03-12-2020 7:45am

We requested funds about a week and half ago from Ulster Bank. Funds are being released today so hoping to close Monday as owners need the weekend to clear out the property. It will be a long weekend! But delighted to be at the finished line especially to work on the house over Christmas break.

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

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