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

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    #782
    Sheeps
    Registered Users Posts: 2,762 ✭✭✭Sheeps


    Got my contract, due to sign in the next week or so as soon as I hear back from KBC with the official approval letter for proof of funds.


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    #783
    utmbuilder
    Registered Users Posts: 467 ✭✭utmbuilder


    the only over priced houses, are new builds out of the way,

    by out of the way I mean in odd parts of Meath, Drogheda, Dundalk

    First or second phase A rated homes beside motorways bought in 2018 before housing associations jerked the prices up offered value at 265k.

    If your sending 300 to 350 you cant really go to far wrong due to supply, new builds in Navan for example if right on the n7 had
    been decent enough value at 265k however more building of 2 beds will turn some areas into ghettos.

    Your right on job losses, but I dont think many of the Europeans will go home, maybe a shed-load of Brazilians will stop coming, but the Eastern Europeans are well settled here and will need a roof over their families heads.

    Silicon Valley is typically very slow to respond to layoff's if it comes to that, which lets face it , it may. 40% of the workforce is multi nationals, and after brexit will the UK offer a better corporate tax rate to fix the disaster over there? Multinationals don't rely on the Irish or even EU market's alone, Asia appears to be bouncing back quick enough, the US has pain to go through still, Economy wise Trump appears to be a mad risk taker if not anything else that might get them out of it.


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    #784
    ArphaRima
    Registered Users Posts: 1,676 ✭✭✭ArphaRima


    Was sale agreed in a good part of Dublin. I'm a 50% cash buyer and budget around 950k max.

    Not renting in Republic of Ireland so not squeezed either.

    We pulled out of the deal as we entirely believe there will be a correction playing out over the next 2 years. If I'm buying, which I hope to by Christmas, I will it will only be with a 15-30% discount built in from prices 5 weeks ago.


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    #785
    Housebuying
    Registered Users Posts: 54 ✭✭Housebuying


    ArphaRima wrote: »
    Was sale agreed in a good part of Dublin. I'm a 50% cash buyer and budget around 950k max.

    Not renting in Republic of Ireland so not squeezed either.

    We pulled out of the deal as we entirely believe there will be a correction playing out over the next 2 years. If I'm buying, which I hope to by Christmas, I will it will only be with a 15-30% discount built in from prices 5 weeks ago.

    Did you think about negotiating with them? Offering them a 15% discount on price?


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    #786
    lenny4545
    Registered Users Posts: 72 ✭✭lenny4545


    We are sale agreed on a new build in county Galway, asked for 5% reduction in sale price but refused by estate agent!


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    #787
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    Sale agreed 16k over asking & sent over a booking deposit pending another viewing of the property which can't happen currently. EA says the underbidder is still keen & he will go back to the vendor to see what she wants to do....ffs.


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    #788
    Zenify
    Registered Users Posts: 861 ✭✭✭Zenify


    lenny4545 wrote: »
    We are sale agreed on a new build in county Galway, asked for 5% reduction in sale price but refused by estate agent!

    What are you going to do?


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    #789
    lenny4545
    Registered Users Posts: 72 ✭✭lenny4545


    Zenify wrote: »
    What are you going to do?

    We haven't signed the contracts yet and house wasn't going to be ready until summer anyway but that will be pushed back by few months now I'd imagine. We are going to leave booking deposit on house for now as we really love the house and will see where things stand in a month or two.


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    #790
    Nijmegen
    Registered Users Posts: 3,086 ✭✭✭Nijmegen


    lenny4545 wrote: »
    We haven't signed the contracts yet and house wasn't going to be ready until summer anyway but that will be pushed back by few months now I'd imagine. We are going to leave booking deposit on house for now as we really love the house and will see where things stand in a month or two.

    To be honest that’s a pretty good place to be - have your iron in the fire but have a built in wait to see how things resolve. Best of luck


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    #791
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    lenny4545 wrote: »
    We haven't signed the contracts yet and house wasn't going to be ready until summer anyway but that will be pushed back by few months now I'd imagine. We are going to leave booking deposit on house for now as we really love the house and will see where things stand in a month or two.

    Is the EA pushing to close? Just curious as I'm in a similar situation.


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    #792
    lenny4545
    Registered Users Posts: 72 ✭✭lenny4545


    Pheonix10 wrote: »
    Is the EA pushing to close? Just curious as I'm in a similar situation.

    No they not pushing at the moment anyway. I'd imagine they are dealing with a lot of people pulling out etc so maybe that are happy to leave it for now?


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    #793
    Tasfasdf
    Closed Accounts Posts: 660 ✭✭✭Tasfasdf


    lenny4545 wrote: »
    We are sale agreed on a new build in county Galway, asked for 5% reduction in sale price but refused by estate agent!

    Is the new build in Athenry by any chance?


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    #794
    lenny4545
    Registered Users Posts: 72 ✭✭lenny4545


    Tasfasdf wrote: »
    Is the new build in Athenry by any chance?

    Ya it is! Are you buying there aswel?


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    #795
    Logan Roy
    Closed Accounts Posts: 452 ✭✭Logan Roy


    lenny4545 wrote: »
    We haven't signed the contracts yet and house wasn't going to be ready until summer anyway but that will be pushed back by few months now I'd imagine. We are going to leave booking deposit on house for now as we really love the house and will see where things stand in a month or two.

    We're in the exact same position. Contracts signed on our own sale so hopefully get that completed in the next 2-3 weeks.


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    #796
    LauraW7746
    Registered Users Posts: 399 ✭✭LauraW7746


    We are second time buyers on a new build contracts signed just before this all kicked off :/
    Only 1 if us working now due to the crisis, we arent sure what to do..

    We have mortgage approval at the mo.. We are worried we might not get it a 2nd time & also if house prices drop we might not be able to get a good price on our house in order to pay the 20% deposit on the new house

    We do have a clause in the contract though that its subject to mortgage approval & subject to the sale of our own house

    We have paid over 10k worth of extras so far even though house wont be ready until late this year prob next year now & we have been told that apparently if anything goes wrong ie cant get approval, we wont get that back from the builder, we have been advised not to pay anymore money for the next while

    I suppose for now we will just try to hang in there


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    #797
    Logan Roy
    Closed Accounts Posts: 452 ✭✭Logan Roy


    LauraW7746 wrote: »
    We are second time buyers on a new build contracts signed just before this all kicked off :/
    Only 1 if us working now due to the crisis, we arent sure what to do..

    We have mortgage approval at the mo.. We are worried we might not get it a 2nd time & also if house prices drop we might not be able to get a good price on our house in order to pay the 20% deposit on the new house

    We do have a clause in the contract though that its subject to mortgage approval & subject to the sale of our own house

    We have paid over 10k worth of extras so far even though house wont be ready until late this year prob next year now & we have been told that apparently if anything goes wrong ie cant get approval, we wont get that back from the builder, we have been advised not to pay anymore money for the next while

    I suppose for now we will just try to hang in there

    Why did you have to pay for all those extras already? :eek:

    Were they changes to the build itself?


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    #798
    LauraW7746
    Registered Users Posts: 399 ✭✭LauraW7746


    Logan Roy wrote: »
    Why did you have to pay for all those extras already? :eek:

    Were they changes to the build itself?

    Yeah an extension, they wanted it paid for right away
    I dont want to give exact figures on here but we have well over half of that paid now


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    #799
    Tasfasdf
    Closed Accounts Posts: 660 ✭✭✭Tasfasdf


    lenny4545 wrote: »
    Ya it is! Are you buying there aswel?

    Not buying but ive had my eye on them. Had a viewing and loved them, very nice estate. Was hoping the might come down a bit.

    Best of luck! :)


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    #800
    zuhuraswa
    Registered Users Posts: 94 ✭✭zuhuraswa


    Oh dear. I just got a call back from an estate agent about a house I viewed 2 months ago in Galway that went sale agrees, 27k over asking price. I had put in an offer of 3k under asking price. Apparently final buyer has now pulled out and I am currently the next highest bidder (several bidders had offers on top of my 'low' one mind you).
    I was reading how buyers were pulling away from sales, but I now truly believe that this pandemic will have an impact. To be honest I was in a bit of denial, but very surprised as it is hitting home.
    I am one of the lucky few with guaranteed job security, and this particular house was way below what I was approved for mortgage, but even I will now wait to see how the market behaves in the next couple of months.


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    #801
    lenny4545
    Registered Users Posts: 72 ✭✭lenny4545


    Tasfasdf wrote: »
    Not buying but ive had my eye on them. Had a viewing and loved them, very nice estate. Was hoping the might come down a bit.

    Best of luck! :)

    Thanks a million! Ya that's what we were hoping aswel so said we'd chance it! But as it's going to be long term home we will probably proceed anyway. 5% over 25 years isn't that much really!


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    #802
    awec
    Administrators Posts: 53,365 Admin ✭✭✭✭✭awec


    Logan Roy wrote: »
    Why did you have to pay for all those extras already? :eek:

    Were they changes to the build itself?

    Any extras are paid up front usually, so the builder / subs aren’t left out of pocket.


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    #803
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    Quick question. Recently a seller accepted my bid and I sent over a booking deposit to the EA. My partner has yet to view the property & I have advised that this is critical. Obviously this is not possible for at least a month now with the Virus. The EA has now received my funds and is asking if we can go to the solicitor stage (not signing contracts) as the vendor may sell to an underbidder if not.

    I'm in no rush but the fact that the vendor is so eager now is telling me to leave it.

    Any advice?


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    #804
    guyfawkes5
    Registered Users Posts: 291 ✭✭guyfawkes5


    Engaging a solicitor will require fees on your part even if you decide not to go through with it right? If that's the case, it's up to you to decide if the chance of losing that money if your partner doesn't like the place is worth potentially losing the purchase.


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    #805
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    guyfawkes5 wrote: »
    Engaging a solicitor will require fees on your part even if you decide not to go through with it right? If that's the case, it's up to you to decide if the chance of losing that money if your partner doesn't like the place is worth potentially losing the purchase.

    Yeah I think they can .... off if a booking deposit isn't enough.


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    #806
    TheSheriff
    Registered Users Posts: 1,108 ✭✭✭TheSheriff


    Pheonix10 wrote: »
    Quick question. Recently a seller accepted my bid and I sent over a booking deposit to the EA. My partner has yet to view the property & I have advised that this is critical. Obviously this is not possible for at least a month now with the Virus. The EA has now received my funds and is asking if we can go to the solicitor stage (not signing contracts) as the vendor may sell to an underbidder if not.

    I'm in no rush but the fact that the vendor is so eager now is telling me to leave it.

    Any advice?

    I couldn't imagine even proceeding that far without my other half viewing the property.

    Seems like maddness to be honest


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    #807
    Captainsatnav
    Registered Users Posts: 910 ✭✭✭Captainsatnav


    TheSheriff wrote: »
    I couldn't imagine even proceeding that far without my other half viewing the property.

    Seems like maddness to be honest

    Why? Booking deposit's fully refundable.


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    #808
    Logan Roy
    Closed Accounts Posts: 452 ✭✭Logan Roy


    Captainsatnav wrote: »
    Why? Booking deposit's fully refundable.

    In fairness a booking deposit is to signify sale agreed, this poster is hardly sale agreed when their OH still has to view the property and make their decision on.

    You can't have your cake and eat it! If you are serious about the property and comfortable proceeding in the current environment then I would go ahead with the legalities.... otherwise I would withdraw.

    Maybe the estate agent / seller can do a short video tour of the property ?


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    #809
    tomister
    Registered Users Posts: 271 ✭✭tomister


    Just a heads up to everyone trying to close at the moment... after a lot of back and forth with the bank over one piece of paper (that was submitted four times) I've finally gotten to draw down.
    Speaking to the builder yesterday they were keen to organise key handover, even with the restrictions, as I need to be out of the apartment by next weekend.
    My solicitor requested the closing documents from the developer's solicitor only to be told they're not closing any sales until the restrictions are lifted, whenever that will be.
    Just ask your solicitor to check in with the vendor's solicitor. In my case they're a large firm and are open but not working on closing house sales.
    Developer has been great and is working to still release keys but its an unnecessary headache


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    #810
    Captainsatnav
    Registered Users Posts: 910 ✭✭✭Captainsatnav


    Pheonix10 wrote: »
    Quick question. Recently a seller accepted my bid and I sent over a booking deposit to the EA. My partner has yet to view the property & I have advised that this is critical. Obviously this is not possible for at least a month now with the Virus. The EA has now received my funds and is asking if we can go to the solicitor stage (not signing contracts) as the vendor may sell to an underbidder if not.

    I'm in no rush but the fact that the vendor is so eager now is telling me to leave it.

    Any advice?

    Have you done a survey on it even?


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    #811
    0gac3yjefb5sv7
    Closed Accounts Posts: 3,948 ✭✭✭0gac3yjefb5sv7


    Captainsatnav wrote: »
    Have you done a survey on it even?

    No not yet. I didn't get any chance as this virus lockdown happened. The EA has be WFH for the last 2 weeks at least.


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