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31-07-2020, 20:45   #2551
Ubbquittious
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I had a given up for a while but it looks like I might be able to buy the place I am buying after all. A €800 piece of paper was produced by a barrister that put the show back on the road and the boundaries are apparently being sorted slowly but surely. At this rate I might have it after Christmas if I'm lucky
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31-07-2020, 21:11   #2552
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We're trying to buy in the city. Chain free but very little coming on the market that interests us. Have an offer in nearly 2 weeks & have heard nothing since. I thought the EA might have tried to get us to bid up by now..he said he was expecting another bid shortly after ours but nothing yet..that we know of! House is on about 6 weeks & he said viewings were "very busy" but I pass the house regularly & the blinds aren't moving...stalker-y I know!

Seems to be a good few coming onto the market across the board though. Looks like a lot of landlords are giving up. Good luck with your sale!
Well the amount of properties on daft and myhome are falling day on day I dont know where your getting your info but I have bee tracking this for a couple of months and back just as covid hit there where over 20k properties available on myhome alone now its down to about 18.5k.
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31-07-2020, 21:19   #2553
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Well the amount of properties on daft and myhome are falling day on day I dont know where your getting your info but I have bee tracking this for a couple of months and back just as covid hit there where over 20k properties available on myhome alone now its down to about 18.5k.
Jeez relax! Your response is a tad hysterical. I'm talking about my own particular search in Cork City daily & there seems to be a few on every day which is good in my opinion for the times we're living in. I'm a buyer so I'd love to see prices drop. Its not happening at the moment but I'm also relieved to see houses coming on regularly even though they aren't for us.
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31-07-2020, 22:22   #2554
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Galway here, house up in daft yesterday, 18 viewings booked within the hour. Not enough houses too many buyers, we have lost another bidding war to deep pockets, getting frustrating as we are chain free
I hear you. I actually can’t believe the way prices have gone in Galway city in the last three months.
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31-07-2020, 22:59   #2555
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rJust a brief update. I was following this thread religiously in March/ April but left it for my own sanity. We closed our sale last week after jumping through many hoops with the bank (we were first buyers). I feel the banks will be lending less and less as this goes on, particularly where employers continue to avail of the wage subsidy. Neither of our employers did and even at that we had to submit regular letters from our employers about our income and position. In my area I see the demand for affordable housing (sub €300k) remains strong.

On a side issue we are finding it impossible to get tradesmen with them booked up 8-10 weeks in advance. You would nearly want them booked in advance before you buy the property! Similarly with appliances and furniture, but we are getting there.

Bottom line I think anyone who needs a property and can afford to buy without over extending themselves should. Also with that said don't take property advice from boards!
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31-07-2020, 23:19   #2556
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Official letter of offer is in the post and should hopefully be followed swiftly by the loan pack. All going well the sellers plan to be gone by the 10th of September may actually happen.
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31-07-2020, 23:36   #2557
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Ah tis all inertia. You will have a certain amount of people who don't want to believe in the impending recession asking and paying sky-high prices but their numbers will slowly dwindle over the next 9 months or so
Sadly, there's no impending & recession is putting it mildly. People seem to be preoccupied with the virus (fair enough but I have to see beyond it) but realistically the fallout of this is going to be life altering for a lot of people.

I've been monitoring the property market as an ordinary joe soap since 2015, through 2 house sales & now a house purchase. My husband is a numbers man & his instinct at the moment is not to buy. He wants to wait, simply because hes dissecting data & articles.

Me...we have 2 small kids. We're living between our parents. We've found a kip of a house with amazing potential. In my humble opinion its been overpriced, possibly to preempt the forecasted 10%+ drop in prices. We put a low ball bid in & have a limit we will go to. If somebody else comes in higher, in a better position, then we have to walk away. We didn't go into that bid without a hell of a lot of thought. I'd estimate that we need to put 50k into that house just to move in. Our broker advised us to go in 10 -15% under asking as there isn't much movement in our price range at present. We put in an offer, were told another bid was imminent, & have heard nothing in nearly 2 weeks. If it doesn't work out, so be it. We still have more possible virus fallout & definite Brexit doom so it may work in our favour
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31-07-2020, 23:47   #2558
Graham
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please read the mod note in post #1
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01-08-2020, 09:19   #2559
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Anyone buying or selling in Cork? I'm almost there. Hopefully photos will be taken on Tuesday and then up shortly after that
I have a call with a broker next week to try to get approval in principle.

I'm searching at the low-end of the scale though, single applicant, fairly low income, so I'll be looking for a shack.
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01-08-2020, 10:32   #2560
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Our broker said there won't be any exceptions for the next couple of months but I've heard it could be longer. Very hard to predict at the moment I'd say as the banks are being so cautious.
My broker said January at the earliest we could be looking at. We were originally going to wait it out as exemption was worth close to 50k for us but we need to buy soon so just going to have to work with 3.5 salary. Maybe best to not extend.

Quote:
Originally Posted by Smiley11 View Post
We're trying to buy in the city. Chain free but very little coming on the market that interests us. Have an offer in nearly 2 weeks & have heard nothing since. I thought the EA might have tried to get us to bid up by now..he said he was expecting another bid shortly after ours but nothing yet..that we know of! House is on about 6 weeks & he said viewings were "very busy" but I pass the house regularly & the blinds aren't moving...stalker-y I know!

Seems to be a good few coming onto the market across the board though. Looks like a lot of landlords are giving up. Good luck with your sale!

Cork is very busy at the moment. We are viewing properties on the second or third day of being up and bids already in. What I am seeing on the houses though we are bidding on is that underbidding is happening which is a good sign at least.

A few houses we rang about that went up start of July were already sale agreed.

I say a lot more landlords would like to leave but cannot lawfully evict tenants just yet.
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01-08-2020, 10:38   #2561
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One of the places I'm looking at, surveyor noted some issues and gave costing to be about 15kish.

Do I negotiate offer of the house based on this? If so at what stage?
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01-08-2020, 13:33   #2562
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Currently selling privately in the west on Daft. Seems quiet for us and kinda wished we had used an EA. Looking around the prices have certainly shot up locally in the last 6 months. Not decided on where to move to so may review decision and try again in spring.
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01-08-2020, 20:32   #2563
Dolbhad
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One of the places I'm looking at, surveyor noted some issues and gave costing to be about 15kish.

Do I negotiate offer of the house based on this? If so at what stage?
Are you sale agreed? If so, would bring it up as soon as possible and seek a reduction but they may not agree to it. But if you don’t ask, you don’t get.

If not I would say it when putting in the final offer of why you won’t be going any higher
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02-08-2020, 11:46   #2564
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Currently selling privately in the west on Daft. Seems quiet for us and kinda wished we had used an EA. Looking around the prices have certainly shot up locally in the last 6 months. Not decided on where to move to so may review decision and try again in spring.
Counter intuitively, the highest number of house sales seem to be just before Christmas, not Summer, as might be expected, so keep it on the market.
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03-08-2020, 13:21   #2565
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Counter intuitively, the highest number of house sales seem to be just before Christmas, not Summer, as might be expected, so keep it on the market.
I don't see what is counter-intuitive about that. The market peaks are in Spring and Autumn. In Summer people are on holidays and it is difficult to keep up with all olf the people needed to make a sale happen in the summer. As soon as the engineer comes back from holidays the solicitor goes on holidays and so on. Around Christmas people are busy with Christmas, the daylight hours are short and the weather is cold making viewing a property a less that satisfactory experience.
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