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

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    #3752
    Spooch
    Registered Users Posts: 119 ✭✭Spooch


    Bid on a house 2 weeks ago at asking price. Bidding ended last night and we were the only offer. Vendor pulled the listing today after contacting him, he had hoped more offers would go in. Had the cheek to ask us to offer 20k more and he might consider. Absolutley gutted tbh. Told him to stuff it.


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    #3753
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    Spooch wrote: »
    Bid on a house 2 weeks ago at asking price. Bidding ended last night and we were the only offer. Vendor pulled the listing today after contacting him, he had hoped more offers would go in. Had the cheek to ask us to offer 20k more and he might consider. Absolutley gutted tbh. Told him to stuff it.

    Well to fair he probably put it up at the wrong time with lockdown he will probably get what he is after once lockdown is lifted and there are more viewings taking place


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    #3754
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    Spooch wrote: »
    Bid on a house 2 weeks ago at asking price. Bidding ended last night and we were the only offer. Vendor pulled the listing today after contacting him, he had hoped more offers would go in. Had the cheek to ask us to offer 20k more and he might consider. Absolutley gutted tbh. Told him to stuff it.

    Well to fair he probably put it up at the wrong time with lockdown he will probably get what he is after once lockdown is lifted and there are more viewings taking place


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    #3755
    PommieBast
    Registered Users Posts: 2,576 ✭✭✭PommieBast


    fliball123 wrote: »
    Well to fair he probably put it up at the wrong time with lockdown he will probably get what he is after once lockdown is lifted and there are more viewings taking place
    Personally I have no sympathy with people who give asking prices below what they would actually accept.


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    #3756
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    PommieBast wrote: »
    Personally I have no sympathy with people who give asking prices below what they would actually accept.

    Maybe but if someone has a price in their head usually they will only budge if the sh1t has hit the fan and it doesn't look to be the case here the scarcity of decent property at the moment would seem to favor the seller.


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    #3757
    Cian59
    Registered Users Posts: 119 ✭✭Cian59


    Spooch wrote: »
    Bid on a house 2 weeks ago at asking price. Bidding ended last night and we were the only offer. Vendor pulled the listing today after contacting him, he had hoped more offers would go in. Had the cheek to ask us to offer 20k more and he might consider. Absolutley gutted tbh. Told him to stuff it.

    Was this with Auctioneera? I've heard a few times now of sellers pulling properties despite achieving asking price. Wonder if they are encouraging low asking prices to drive up interest


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    #3758
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    fliball123 wrote: »
    Maybe but if someone has a price in their head usually they will only budge if the sh1t has hit the fan and it doesn't look to be the case here the scarcity of decent property at the moment would seem to favor the seller.

    Why can't the asking price just be the minimum they require? Probably a naive viewpoint but it makes sense to me anyway.


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    #3759
    [Deleted User]
    Posts: 18,749 ✭✭✭✭ [Deleted User]


    Markitron wrote: »
    Why can't the asking price just be the minimum they require? Probably a naive viewpoint but it makes sense to me anyway.

    What can't the asking price ve the actual price they want to sell for? Like everything else?


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    #3760
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    bubblypop wrote: »
    What can't the asking price ve the actual price they want to sell for? Like everything else?

    Why can't the minimum you need and the price you want to sell for be the same thing? If you get anything extra then great.


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    #3761
    cnocbui
    Registered Users Posts: 19,689 ✭✭✭✭cnocbui


    bubblypop wrote: »
    What can't the asking price ve the actual price they want to sell for? Like everything else?

    Here's someone who's never tried selling something on Adverts.


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    #3762
    Spooch
    Registered Users Posts: 119 ✭✭Spooch


    Cian59 wrote: »
    Was this with Auctioneera? I've heard a few times now of sellers pulling properties despite achieving asking price. Wonder if they are encouraging low asking prices to drive up interest


    Yes it was with Auctioneera. The agent tried to blame the lockdown however we viewed the property pre lockdown, and there was even another open viewing a week before bidding ended.

    What's really annoying me is they've since relisted the house for exact same price I offered. I'll keep an eye on it to see what it eventually goes for but I've washed my hands of the whole thing now.


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    #3763
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    Markitron wrote: »
    Why can't the asking price just be the minimum they require? Probably a naive viewpoint but it makes sense to me anyway.

    Well its all perspective people will put a value on a home sometimes an EA will come in and say lets bring it down a bit to get interest and hopefully a bidding war to drive the price back up. If this doesn't work then the seller will not be happy to sell. The last time an EA suggested this to me I said make sure you tell anyone interested in buying that the seller will only consider prices over what I wanted and I got above what I wanted in the end after a bidding war so their strategy worked, but I understand where you are coming from.


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    #3764
    Cian59
    Registered Users Posts: 119 ✭✭Cian59


    Spooch wrote: »
    Yes it was with Auctioneera. The agent tried to blame the lockdown however we viewed the property pre lockdown, and there was even another open viewing a week before bidding ended.

    What's really annoying me is they've since relisted the house for exact same price I offered. I'll keep an eye on it to see what it eventually goes for but I've washed my hands of the whole thing now.

    That's ridiculous. It kinda makes a mockery of the whole system of setting deadlines once it's hit asking price. Why relist it at the same asking


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    #3765
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    Cian59 wrote: »
    That's ridiculous. It kinda makes a mockery of the whole system of setting deadlines once it's hit asking price. Why relist it at the same asking

    Well that's the sellers right and nothing you, I or anyone else can force them to sell at a price they don't want to sell at.


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    #3766
    Claw Hammer
    Registered Users Posts: 6,160 ✭✭✭Claw Hammer


    Cian59 wrote: »
    That's ridiculous. It kinda makes a mockery of the whole system of setting deadlines once it's hit asking price. Why relist it at the same asking

    It is not a supermarket. The asking price is just one tool in the marketing strategy.


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    #3767
    hi!
    Registered Users Posts: 130 ✭✭hi!


    Spooch wrote: »
    Bid on a house 2 weeks ago at asking price. Bidding ended last night and we were the only offer. Vendor pulled the listing today after contacting him, he had hoped more offers would go in. Had the cheek to ask us to offer 20k more and he might consider. Absolutley gutted tbh. Told him to stuff it.

    That’s so annoying! I’ve bid on a house at asking price but estate agent has said they’re looking for at least 30k more- which I won’t be offering. Haven’t heard anything back about my bid yet. I think something similar is going to happen to me. And yes I know lockdown may be effecting things but it was up 3 weeks before that and had other viewings with no other offers. I think the market may be slowing in my area but sellers are in denial.


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    #3768
    squareboy007
    Registered Users Posts: 108 ✭✭squareboy007


    Dolbhad wrote: »
    Probate in Dublin probate office is about 8 weeks at moment. However if they raise queries, it delays things as information is gotten and submitted back in for review. The probate office in Dublin if you ring have a message set up every week to let people know what week they are dealing with and the time it takes. If you know when the sellers solicitor put in grant of probate, ring the office tomorrow and see if they are dealing with that week yet. Than take 8 weeks from it.

    Thanks a million.

    I just rang the probate office and the message says 8 weeks processing time.

    8 weeks was last Friday so fingers crossed.


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    #3769
    narodvale
    Registered Users Posts: 56 ✭✭narodvale


    Has anyone drawn down a mortgage with KBC recently?

    We submitted our application early last week, and then as luck would have it found a house we love that’s within your budget. I’d love to start firing bids in left right and centre and start the dance.

    Can anyone advise how long it has take to get AIP, move to a loan offer, and finally draw down?


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    #3770
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    narodvale wrote: »
    Has anyone drawn down a mortgage with KBC recently?

    We submitted our application early last week, and then as luck would have it found a house we love that’s within your budget. I’d love to start firing bids in left right and centre and start the dance.

    Can anyone advise how long it has take to get AIP, move to a loan offer, and finally draw down?

    AIP one week give or take, loan offer 12 days I think it was for us with KBC


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    #3771
    fliball123
    Registered Users Posts: 7,445 ✭✭✭fliball123


    hi! wrote: »
    That’s so annoying! I’ve bid on a house at asking price but estate agent has said they’re looking for at least 30k more- which I won’t be offering. Haven’t heard anything back about my bid yet. I think something similar is going to happen to me. And yes I know lockdown may be effecting things but it was up 3 weeks before that and had other viewings with no other offers. I think the market may be slowing in my area but sellers are in denial.

    You may be right but what I can see is the property available on my home seems to be dwindling we could have less than 16k properties available by the end of the week. we had about 22k available at the start of the year. The existing selection of property is awful very few up there at a good standard and in desirable areas to live in


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    #3772
    Sarn
    Registered Users Posts: 3,059 ✭✭✭Sarn


    narodvale wrote: »
    Has anyone drawn down a mortgage with KBC recently?

    We submitted our application early last week, and then as luck would have it found a house we love that’s within your budget. I’d love to start firing bids in left right and centre and start the dance.

    Can anyone advise how long it has take to get AIP, move to a loan offer, and finally draw down?

    It took five months for us from application to drawdown with KBC.


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    #3773
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    Whatdoyoumean wrote: »
    Does anybody have any experience waiting on funds to be cleared? Our solicitor transferred the funds to the vendors solicitor at the end of last week, they have received them but waiting for them to be cleared.

    What does this mean in practice and how long does this generally take?

    If they used a cheque 5 working days from the time the cheque was lodged
    If electronic transfer 24 hrs should be the max
    Do not think many solicitors use cheques any more


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    #3774
    narodvale
    Registered Users Posts: 56 ✭✭narodvale


    Sarn wrote: »
    It took five months for us from application to drawdown with KBC.

    Thanks for advising Sarn.

    Did your application hit any issues or complications that might explain the difference in time from above?


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    #3775
    brisan
    Registered Users Posts: 2,242 ✭✭✭brisan


    Cian59 wrote: »
    Was this with Auctioneera? I've heard a few times now of sellers pulling properties despite achieving asking price. Wonder if they are encouraging low asking prices to drive up interest

    I have seen the opposite with Auctioneera
    Ridiculous asking prices and houses sitting for months with no bids
    One example
    House in D5 on at 395k
    No bids
    6 months later on at 365
    Sold 3 months later for 329k


    https://www.auctioneera.ie/property/88-grange-abbey-crescent-donaghmede-dublin-d13-k6f5
    https://www.auctioneera.ie/property/73-belmayne-avenue-parkside-balgriffin-dublin-d13-h2wn

    Those 2 properties are there at least 6 months and no bids
    Their valuation strategy seems to be all over the place


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    #3776
    Sarn
    Registered Users Posts: 3,059 ✭✭✭Sarn


    narodvale wrote: »
    Thanks for advising Sarn.

    Did your application hit any issues or complications that might explain the difference in time from above?

    We were switching mortgage and looking for just under twice our gross income, both in permanent jobs unaffected by COVID. Clean accounts, good savings record.

    It took about ten days to receive a response for every query initially which resulted in it taking about 3 months to get AIP. We would receive piecemeal queries and be asked for the same documents again (e.g. could you explain this transaction...10 days...could you explain this other transaction...10 days). We were also asked to have a payslip without parents leave on it before they would give us AIP, this was almost two months into the process, even though we were well within affordability for a 35% LTV mortgage. This pushed it out by about a month and meant we had to use annual leave instead.

    The thing that annoyed me most was new requests coming out of the blue. We had anticipated the majority of the unasked queries and had provided documentation, explanation etc. in advance. But a couple of new requests required documentation from our mortgage provider which took a couple of weeks to get. If we had been asked in advance rather than bit by bit it could have been completed much sooner.

    The other downside of the delay was that we were paying a high variable rate as we came off our low fixed rate during the process.

    Thankfully it’s all done and dusted.


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    #3777
    Cash_Q
    Registered Users Posts: 1,920 ✭✭✭Cash_Q


    narodvale wrote:
    Has anyone drawn down a mortgage with KBC recently?

    Not at drawdown stage yet, but initial enquiries made late May/June, application submitted 8th July, AIP 31st July, Loan Offer 4th September. We are awaiting grant of probate before we request to drawdown.


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    #3778
    Cash_Q
    Registered Users Posts: 1,920 ✭✭✭Cash_Q


    squareboy007 wrote:
    8 weeks was last Friday so fingers crossed.


    Fingers crossed that means this week for you..as far as we know we are 7 weeks yesterday.. it is so nerve wracking even though contracts and loan offer are signed, just can't wait to get the keys.


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    #3779
    Canyon86
    Registered Users Posts: 1,223 ✭✭✭Canyon86


    I was due to get the keys this friday the 6th
    however i have been informed that the sellers have not yet signed the contracts as the house they are buying there is an issue with the other contract, relating to pre inspection,

    As a buyer what can I do here? I want the house but i feel like im being taken advantage of, I have all my approval etc sorted


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    #3780
    cnocbui
    Registered Users Posts: 19,689 ✭✭✭✭cnocbui


    Nothing you can do but hope and wait. They don't have to sign the contract.


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    #3781
    cubatahavana
    Registered Users Posts: 990 ✭✭✭cubatahavana


    cnocbui wrote: »
    Nothing you can do but hope and wait. They don't have to sign the contract.

    Out of curiosity, have many people gone through sellers or buyers not signing at the last minute (or not returning contracts)?


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