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

Rusky rusky · 13-05-2021 12:09am

DubLad69 wrote: »

Most likely nothing owed, as long as you use same person for your actual purchase.

I was billed ab 600 for work on the failed purchase (due to surveyors report, among other things) and same amount on work for attempting to sell my house at the same time. I was told that I don’t have to pay now but we decided to cut our losses, pay up and move on with our lives:) Overall this experience was 2k.

Lia_lia · 13-05-2021 8:30am

DubLad69 wrote: »

Most likely nothing owed, as long as you use same person for your actual purchase.

We pulled out of a new build and were charged nothing. The solicitor knows we'll go back to them when we do find a house to buy.

Likeshirt · 13-05-2021 8:39am

We pulled out of a sale yesterday as the vendor didn’t have permission for a couple of extensions. We have been sale agreed since February and have been waiting a long time for the documents to be sent to our solicitor. We’ve incurred about a grand in surveyor fees and building estimates to renovate the property to a habitable standard. It is a 1950’s probate sale with a site alongside the house. it will be a long costly process to apply for retention permission and is not worth the risk and uncertainty to us. Sellers should be upfront about planning issues before houses are put up for sale

Busi_Girl08 · 13-05-2021 9:43am

Broker rang yesterday to confirm the bank (KBC) accepted our change of address request, loan offer next, which she thinks will be pretty smooth sailing. Have the survey in the next few days, so hopefully that won't bring up many surprises. Things are starting to tip along a week on from sale agreed anyway.

Emma2019 · 13-05-2021 10:28am

Deebles McBeebles wrote: »

Probably been asked before but....went sale agreed, now wanting to pull out after surveyor report, contracts not signed obviously but what kind of money is my solicitor due once I pull out? Not the full quote I assume?

Some wont charge at all if you say youre going to use them for the next house you buy. If you're only at survey stuff they wont have done much other than potentially receiving contracts. But if they have done substantial work they'll want to charge for it. But it wont be full whack.

Claw Hammer · 13-05-2021 12:43pm

Likeshirt wrote: »

We pulled out of a sale yesterday as the vendor didn’t have permission for a couple of extensions. We have been sale agreed since February and have been waiting a long time for the documents to be sent to our solicitor. We’ve incurred about a grand in surveyor fees and building estimates to renovate the property to a habitable standard. It is a 1950’s probate sale with a site alongside the house. it will be a long costly process to apply for retention permission and is not worth the risk and uncertainty to us. Sellers should be upfront about planning issues before houses are put up for sale

When you see extensions on an old house you need to question the EA about them immediately. No point in continuing if they don't have info.

DancingDaisy · 13-05-2021 1:12pm

Picked up our keys on Friday, and spent the weekend ordering furniture. Shockingly most of our deliveries have arrived within 2 - 3 days. We were anticipating it would be about 4 - 6 weeks to move in after getting the keys and now it's looking like it could be done in 10 days!

thegreatescape · 13-05-2021 4:11pm

Feeling frustrated... 9 days after requesting valuation and still no word from the lenders as to when this will be done. Have everything else I could possibly do to this point completed..

Gael23 · 13-05-2021 4:52pm

We were told 6/8 weeks from offer to completion. Cash sale with no chain as seller is going to rent for a while.

Does that timeframe seem right?

GalwayBmw · 13-05-2021 7:16pm

what's people experience with transferring 10% of the purchase price following the contract signing - online transfers are capped by 20K per day by most banks (we're with BOI and they enforce it for 100% of transaction)- can the draft be used or what's the easiest way ?

Paul_Mc1988 · 13-05-2021 7:20pm

GalwayBmw wrote: »

what's people experience with transferring 10% of the purchase price following the contract signing - online transfers are capped by 20K per day by most banks (we're with BOI and they enforce it for 100% of transaction)- can the draft be used or what's the easiest way ?

I'm with bank of Ireland and transferred 70k in 7×10k transfers. Think it was the one day too. It was 2019 though so rules might have changed. Either way doing the 10k over separate days shouldn't be an issue

liam7831 · 13-05-2021 7:24pm

thegreatescape wrote: »

Feeling frustrated... 9 days after requesting valuation and still no word from the lenders as to when this will be done. Have everything else I could possibly do to this point completed..

Got it done recently by the bank took about two weeks

thegreatescape · 13-05-2021 8:06pm

liam7831 wrote: »

Got it done recently by the bank took about two weeks

Thanks a million, feels like it just me but glad it seems to be the way things are at the moment. Hope it's done soon.

RichardAnd · 13-05-2021 9:12pm

I saw a house just this evening. It's not my ideal location, but it's not bad. I just can't escape the feeling that buying now would be foolish given that I will be paying 20-35% over the valuation of the property....What to do

Mic 1972 · 13-05-2021 9:16pm

RichardAnd wrote: »

I saw a house just this evening. It's not my ideal location, but it's not bad. I just can't escape the feeling that buying now would be foolish given that I will be paying 20-35% over the valuation of the property....What to do

We are all in the same boat. I'm now looking at properties out of Co Dublin that I could have bought for a fraction of what they going for at the moment.

RichardAnd · 13-05-2021 9:19pm

Mic 1972 wrote: »

We are all in the same boat. I'm now looking at properties out of Co Dublin that I could have bought for a fraction of what they going for at the moment.

I know what you mean, man. It's a hell of a mess they've managed to create here.

Are you thinking of sitting it out and waiting for better times or just taking the hit and getting a place now?

This is it · 13-05-2021 9:34pm

I'm 34 and really struggling between buying now at over the odds or waiting and having increased monthly repayments when the mortgage length inevitably shortens. Help to buy approved, I think I'll apply for a mortgage and at least be ready

Cash_Q · 13-05-2021 9:56pm

Gael23 wrote:

We were told 6/8 weeks from offer to completion. Cash sale with no chain as seller is going to rent for a while.

Gael23 wrote:

Does that timeframe seem right?

It is certainly possible if both solicitors are on the ball and no queries arise about title/boundaries etc. Keep a bit of pressure on the solicitors/ EA if you feel things are too quiet/slowing down at all. Best of luck!

Stark · 13-05-2021 11:13pm

RichardAnd wrote: »

I saw a house just this evening. It's not my ideal location, but it's not bad. I just can't escape the feeling that buying now would be foolish given that I will be paying 20-35% over the valuation of the property....What to do

I said **** it and went sale agreed on a property today. I figure I'm paying 22k a year in rent on my current place and it'll probably be another year before I see something else I like/market calms down so happy to pay 20k over the odds right now and not have to worry about things getting even crazier.

That said, there were some crazy crazy bidding wars that I stayed well away from. Houses valued at 450k going for 575k, 420k going for 550k etc. I think things have already calmed since viewings have opened up again. No more bidding just to view. I kept an eye on some sites where the bids are online and could already see crazy high bids being withdrawn as people got to view the houses.

brianc27 · 13-05-2021 11:16pm

Paul_Mc1988 wrote: »

I'm with bank of Ireland and transferred 70k in 7×10k transfers. Think it was the one day too. It was 2019 though so rules might have changed. Either way doing the 10k over separate days shouldn't be an issue

Can you not just go into your bank branch and do one large electronic Sepa payment, that's what I am hoping to do when I need to transfer over my portion of the house price.

Emma2019 · 14-05-2021 9:44am

brianc27 wrote: »

Can you not just go into your bank branch and do one large electronic Sepa payment, that's what I am hoping to do when I need to transfer over my portion of the house price.

I did this and because my solicitor is the same bank it was in their account by close of business

Paul_Mc1988 · 14-05-2021 10:03am

brianc27 wrote: »

Can you not just go into your bank branch and do one large electronic Sepa payment, that's what I am hoping to do when I need to transfer over my portion of the house price.

Possibly but I could do it from the laptop in 5 mins which was quicker and more convenient the going the bank

FastFullBack · 14-05-2021 10:14am

Gael23 wrote: »

We were told 6/8 weeks from offer to completion. Cash sale with no chain as seller is going to rent for a while.

Does that timeframe seem right?

I'm in the same exact same possible except I'm the seller. I'm selling and going renting for a while before building. My buyer is not selling anything so a straight forward sale.
Went sale agreed Feb 24th. I was hoping to get it closed in about 8 weeks so took a place to rent from May 1st.
We're moving into the rental house next week and the sale will close on May 26th. Both contracts are signed now. So it was 13 weeks in my case, which still isn't bad.
6-8 weeks would need your solicitors on top of everything and finding no legal issues at all.

Ladybird25 · 14-05-2021 11:07am

We have been putting bids on a house against another couple, out of nowhere the EA wrote to as saying the vendor had instructed to take on the other offer, we pushed back as we hadn't had time to counter offer so EA accepted, and put two bid more in the house. With the highest bid at the time, EA contact us again and tell us that the vendor has instructed to accept the seconds highest bid.

Some frustration on our side, called the EA and asked what's going on. Why the the highest bid, the vendor wanted to accept the other bid and we were told the other couple were cash buyers and the vendor preferred that mortgage buyer. So we have just been played to increase the price I believe, never had a real chance with the house.

ec18 · 14-05-2021 11:26am

Ladybird25 wrote: »

We have been putting bids on a house against another couple, out of nowhere the EA wrote to as saying the vendor had instructed to take on the other offer, we pushed back as we hadn't had time to counter offer so EA accepted, and put two bid more in the house. With the highest bid at the time, EA contact us again and tell us that the vendor has instructed to accept the seconds highest bid.

Some frustration on our side, called the EA and asked what's going on. Why the the highest bid, the vendor wanted to accept the other bid and we were told the other couple were cash buyers and the vendor preferred that mortgage buyer. So we have just been played to increase the price I believe, never had a real chance with the house.

You weren't really played?

If I'm understanding correctly the EA informed you the the vendor wanted to go with the last bid from the other couple. You then insisted on being able to counter bid?

Then there was another round of bid / counter bid before the vendor accepted the offer from the cash buyers.

Again if I'm reading it right you insisted on continuing the bidding and pushed the price up for the other couple? Or have I mis read the post?

brianc27 · 14-05-2021 11:30am

Ladybird25 wrote: »

We have been putting bids on a house against another couple, out of nowhere the EA wrote to as saying the vendor had instructed to take on the other offer, we pushed back as we hadn't had time to counter offer so EA accepted, and put two bid more in the house. With the highest bid at the time, EA contact us again and tell us that the vendor has instructed to accept the seconds highest bid.

Some frustration on our side, called the EA and asked what's going on. Why the the highest bid, the vendor wanted to accept the other bid and we were told the other couple were cash buyers and the vendor preferred that mortgage buyer. So we have just been played to increase the price I believe, never had a real chance with the house.

Don't think you were played, other bidder could have been a cash buyer, are you in a chain at all, seemed vendor just went with what they thought would be the smoothest sale

Busi_Girl08 · 14-05-2021 11:32am

Ladybird25 wrote: »

We have been putting bids on a house against another couple, out of nowhere the EA wrote to as saying the vendor had instructed to take on the other offer, we pushed back as we hadn't had time to counter offer so EA accepted, and put two bid more in the house. With the highest bid at the time, EA contact us again and tell us that the vendor has instructed to accept the seconds highest bid.

Some frustration on our side, called the EA and asked what's going on. Why the the highest bid, the vendor wanted to accept the other bid and we were told the other couple were cash buyers and the vendor preferred that mortgage buyer. So we have just been played to increase the price I believe, never had a real chance with the house.

That sucks

We had the opposite experience with the house we went sale agreed on. The EA stopped us from upping our bid because she had a feeling the other bidders were at their limit and were dragging things out. In the end the vendors went for our bid (2nd highest).

Jafin · 14-05-2021 2:28pm

Looking for a bit of advice if anyone has any wisdom they could impart. I inquired about an apartment last month that was up for sale for €120k and was told there was an offer of €100k already made. I offered €105k, but they did advise me that there were tenants in the property so things would be slow progressing until they had found somewhere else to live. I've arranged a viewing for next week since those are allowed now, and the EA said the current offer on it is €107k.

I'm very anxious to get into a place as I was just about to get my AIP last year when we went into the first lockdown, so everything was thrown for a loop and now here we are 14 months later and I've made little progress. The market is gone bananas so I want to do my very best to avoid getting into a bidding war. I was in a couple already for other properties and they eventually sold for way above asking.

Is there a strategy I could follow to make a good offer that could take the property off the market the day I see it/make an offer? (Assuming I like it when I see it in person of course) The asking is the absolute highest I could go with my current AIP, but obviously I'd like to get the best deal possible. Would anyone recommend offering the asking on condition that it be taken off the market, or even a little less than asking? Or even asking the EA straight out what it would take to secure the property? From what I can gather it seems like there is only one other bidder, but I could be wrong.

I'd rather just be up front, I'm sick of all this "wait 24/48 hours so you don't look too eager" nonsense because it's gotten me nowhere.

The Davestator · 14-05-2021 2:39pm

Jafin wrote: »

Looking for a bit of advice if anyone has any wisdom they could impart. I inquired about an apartment last month that was up for sale for €120k and was told there was an offer of €100k already made. I offered €105k, but they did advise me that there were tenants in the property so things would be slow progressing until they had found somewhere else to live. I've arranged a viewing for next week since those are allowed now, and the EA said the current offer on it is €107k.

I'm very anxious to get into a place as I was just about to get my AIP last year when we went into the first lockdown, so everything was thrown for a loop and now here we are 14 months later and I've made little progress. The market is gone bananas so I want to do my very best to avoid getting into a bidding war. I was in a couple already for other properties and they eventually sold for way above asking.

Is there a strategy I could follow to make a good offer that could take the property off the market the day I see it/make an offer? (Assuming I like it when I see it in person of course) The asking is the absolute highest I could go with my current AIP, but obviously I'd like to get the best deal possible. Would anyone recommend offering the asking on condition that it be taken off the market, or even a little less than asking? Or even asking the EA straight out what it would take to secure the property? From what I can gather it seems like there is only one other bidder, but I could be wrong.

I'd rather just be up front, I'm sick of all this "wait 24/48 hours so you don't look too eager" nonsense because it's gotten me nowhere.

The EA is paid by the seller so there is an obligation to do their best for their client. In the current circumstances, most properties are going into a bidding war. You could try, but its unlikely.

Jafin · 14-05-2021 2:45pm

The Davestator wrote: »

The EA is paid by the seller so there is an obligation to do their best for their client. In the current circumstances, most properties are going into a bidding war. You could try, but its unlikely.

Thanks, appreciate the honesty. There doesn't seem to be much interest in it from what I can tell so I'm hoping for the best and that it works out in my favour. Then again everyone hopes for that. :pac:

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

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