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

crumble_15 · 07-01-2021 9:07pm

We went sake agreed on a property and paid our deposit on Monday. The EA sent a receipt showing they received the funds but the property still hasn’t been registered as ‘sale agreed’ yet. We queried this with the EA and he said the property is technically sale agreed but they are waiting for the vendors to confirm it’s in order? Vendors have been a nightmare from the start - very very slow with everything - worried this is a bad sign...we are arranging a survey too and are now presuming that they’ll be hold this up aswell - has anyone else had this happen?

Cash_Q · 07-01-2021 9:27pm

jokettle wrote:

We applied for Mortgage Protection also through our broker, and that application went in on Monday evening. We both have minor medical issues that we described honestly and in detail on the application. I'm wondering how long it might take for them to decide if they need a letter from our GP before we get the policy sorted. Anyone been through this recently?.

I have asthma and an underactive thyroid. Both disclosed in initial call to insurer which required additional questionnaires to be completed. Nothing needed from GP and no delay. Hope that helps.

crumble_15 wrote:

We went sake agreed on a property and paid our deposit on Monday. The EA sent a receipt showing they received the funds but the property still hasnâ€™t been registered as â€˜sale agreedâ€™ yet. We queried this with the EA and he said the property is technically sale agreed but they are waiting for the vendors to confirm itâ€™s in order? Vendors have been a nightmare from the start - very very slow with everything - worried this is a bad sign...we are arranging a survey too and are now presuming that theyâ€™ll be hold this up aswell - has anyone else had this happen?

The house we bought was sale agreed at the start of August and the EA issued a Sales Advice notice to our solicitors once the booking deposit was received. The ad on Daft and the sign outside the house never changed to Sale Agreed even once we had the keys. I think for some EAs they do this to keep people enquiring about the house who they can then refer on to other properties they have listed.

Not sure why they would hold up having a survey done, surely they want the sale to proceed? If they're buying time for some reason then you're better off knowing what that reason is even just for peace of mind.

klose · 07-01-2021 10:04pm

It will certainly be an interesting few months ahead with house sales, viewings etc. I cant imagine many people will be going sale agreed on a house they can only view virtually Imo. How many mortgages close to closing out are at risk with a lot more people on the covid payment?

Flyin Irishman · 07-01-2021 10:41pm

Anybody have any idea what the story is with getting a surveyor in to check out a house if we've already gone sale agreed? Still waiting on contracts/deeds etc from the vendor's solicitor so we haven't been able to schedule the surveyor yet, now I'm not sure if the surveyor is likely to be willing (or allowed?) to carry out the inspection

Cash_Q · 07-01-2021 11:06pm

Flyin Irishman wrote:

Anybody have any idea what the story is with getting a surveyor in to check out a house if we've already gone sale agreed? Still waiting on contracts/deeds etc from the vendor's solicitor so we haven't been able to schedule the surveyor yet, now I'm not sure if the surveyor is likely to be willing (or allowed?) to carry out the inspection

You wouldn't need to have contracts or deeds in order to schedule the surveyor. I'd get onto them tomorrow and ask if they're still allowed to proceed and if so then get onto EA so you can book the survey. You want to know of any major issues before contracts as something could come up that's a deal breaker (hopefully not)

mrbrightside11 · 08-01-2021 12:30am

Estate Agent called and cancelled the two viewings we had booked for Saturday due to the new restrictions. So frustrating. Looks like everything will be stalled until end of January at the earliest.

Markitron · 08-01-2021 9:47am

Foxx92 wrote: »

Nope, shouldnt be an issue where the savings are

Nice one thanks

Flyin Irishman · 08-01-2021 10:32am

Cash_Q wrote: »

You wouldn't need to have contracts or deeds in order to schedule the surveyor. I'd get onto them tomorrow and ask if they're still allowed to proceed and if so then get onto EA so you can book the survey. You want to know of any major issues before contracts as something could come up that's a deal breaker (hopefully not)

I was under the impression that our solicitor would need these in order to get the maps/plans that the surveyor would need to verify the land boundary etc.?

mimimcmc · 08-01-2021 11:30am

Baby01032012 wrote: »

Guidelines resulting from the stricter level 5 introduced yesterday means all viewings must now be virtual.

Only when contracts are ready to be issued can a buyer physically view a property. Contracts nowadays are issued at the end of the sale process when deeds have been received and all requisitions and enquiries on title have been raised by the buyers solicitor.

Whether agents will strictly follow this I don’t know. I think this will further delay properties being put to market. It will be a very slow first quarter or six months.

That is just horrendous, how is anyone gonna find a home this month!

We have a viewing today but I'd say it'll be the only one going ahead

0gac3yjefb5sv7 · 08-01-2021 11:32am

Are viewings going to be cancelled from tomorrow? Had one EA suggest it

Milena009 · 08-01-2021 11:39am

MattS1 wrote: »

Are viewings going to be cancelled from tomorrow? Had one EA suggest it

Ours was cancelled for tomorrow, yup.
Other one offered virtual, but we didnt go for it.

Busi_Girl08 · 08-01-2021 11:51am

Another silly question, sorry!

When you guys say virtual tour do you mean the virtual viewings that are available on the likes of daft made with a 360 camera, or are some EAs offering a more detailed virtual tour via zoom or something?

random_banter · 08-01-2021 11:54am

Milena009 wrote: »

Ours was cancelled for tomorrow, yup.
Other one offered virtual, but we didn't go for it.

Jesus. Reading all of these above I am feeling even more pessimistic about our chances of finding a home any time soon. We're already quite delayed because of covid and the competition due to lack of supply has been outrageous. Before Christmas we were viewing places where the first viewer was throwing in bids above asking. Madness and desperation out there.

The majority of the chat in this thread indicates people feel prices will only rise too due to the lack of supply and big demand. Very disheartened.

(Searching in Dublin, which we can't leave due to work reasons).

givyjoe · 08-01-2021 12:23pm

Milena009 wrote: »

Ours was cancelled for tomorrow, yup.
Other one offered virtual, but we didnt go for it.

Same, had two with same EA/area in Lucan for tomorrow. Looks like we'll be on to our third AIP by the time the viewings start again.:(

Markitron · 08-01-2021 12:27pm

givyjoe wrote: »

Same, had two with same EA/area in Lucan for tomorrow. Looks like we'll be on to our third AIP by the time the viewings start again.:(

How much of a pain is it to renew AIP and is the renewal for the full 6 months? I just got AIP for the first time from BOI but it is highly unlikely that I will be able to use it before it runs out.

Cash_Q · 08-01-2021 3:43pm

Flyin Irishman wrote:

I was under the impression that our solicitor would need these in order to get the maps/plans that the surveyor would need to verify the land boundary etc.?

I would have thought the surveyor would be checking the interior and exterior for any issues with construction, drainage etc and boundaries are to be checked by solicitor using the maps but I suppose you could ask your surveyor to check the boundaries. Both houses I bought were in housing estates in Dublin so boundaries weren't really a concern

Eds · 08-01-2021 5:08pm

jokettle wrote: »

We should be closing on our house soon (went sale agreed on August 1st....it's been a bit of a slog!) and I have a question about this last stage.
Contracts are signed on both sides, bank has confirmed they can release the funds despite a qualification on the title, most recent payslips are with the broker. We applied for Mortgage Protection also through our broker, and that application went in on Monday evening. We both have minor medical issues that we described honestly and in detail on the application. I'm wondering how long it might take for them to decide if they need a letter from our GP before we get the policy sorted. Anyone been through this recently? We're applying to Royal London.
I know it's like asking how long is a piece of string, but it's difficult not to get fixated on these small things when you're so close to the finish line.

Just been through this with RL. I have a minor life long condition and had a consult in the last year both of which I noted full details. They needed a GP cert completed but were very quick to let me know that. What was not so quick (understandably) was getting the GP to complete and return it.

stampydmonkey · 08-01-2021 10:23pm

Got confirmation from one of the DNG offices today that they were deemed essential. We are sale agreed so we were looking for access for contractors to get quotes for renovations. They said they could accommodate this over the next few weeks

SeanJ09 · 08-01-2021 10:38pm

Baby01032012 wrote: »

Guidelines resulting from the stricter level 5 introduced yesterday means all viewings must now be virtual.

Only when contracts are ready to be issued can a buyer physically view a property. Contracts nowadays are issued at the end of the sale process when deeds have been received and all requisitions and enquiries on title have been raised by the buyers solicitor.

Whether agents will strictly follow this I don’t know. I think this will further delay properties being put to market. It will be a very slow first quarter or six months.

Is this actually the case ? I have two property viewings arranged for tomorrow (both I'm Dublin) and both have been confirmed as going ahead tomorrow by the agent. Should this not be happening under L5 restrictions?

Mic 1972 · 08-01-2021 10:52pm

Why would this delay properties from being put on the market?
prices are at an all time high, the highest since 2009. Supply is very small.
This is an excellent time to sell

whiskeyman · 08-01-2021 10:57pm

SeanJ09 wrote: »

Is this actually the case ? I have two property viewings arranged for tomorrow (both I'm Dublin) and both have been confirmed as going ahead tomorrow by the agent. Should this not be happening under L5 restrictions?

They are guidelines.
Seems some EA adhering to them.
Others not.

I guess may depend on the vendors also.

givyjoe · 08-01-2021 11:12pm

Markitron wrote: »

How much of a pain is it to renew AIP and is the renewal for the full 6 months? I just got AIP for the first time from BOI but it is highly unlikely that I will be able to use it before it runs out.

My broker told me they look for updated salary cert/payslips after 4 months
, they didn't or she didn't ask first time around. Haven't got to the 4 months stage yet this time (with BOI both times). It was pretty much the same documents again, payslips, bank statements etc.

antimatterx · 10-01-2021 9:51pm

What salary does a single person need to buy a 1 bed apartment? Also, do you need the full 20% for a 1 bed as a FTB?

accensi0n · 10-01-2021 11:18pm

antimatterx wrote: »

What salary does a single person need to buy a 1 bed apartment? Also, do you need the full 20% for a 1 bed as a FTB?

1. Depends, 0 if they can buy entirely with cash.
(3.5x - 4x) + deposit, x being salary, depends on deposit size.

2. Never heard of 1 beds requiring more than 10% unless it was btl.

Graham · 10-01-2021 11:53pm

accensi0n wrote: »

Never heard of 1 beds requiring more than 10% unless it was btl.

Max LTV of 80% is quite common (or certainly was) for studio/one bedroom apartments.

accensi0n · 11-01-2021 12:03am

Graham wrote: »

Max LTV of 80% is quite common (or certainly was) for studio/one bedroom apartments.

Cheers, wasn't a aware, did a cursory google but didn't find much.

I've just looked again there and most lenders say up to 90% alright which leaves it open, and an EBS blog where they explicitly state only 75% for 1 bed apartment.

markodaly · 11-01-2021 2:00am

Looking at some new builds at the moment.
What is the deal with the developers asking price and prices registered on the Property Price register?

There seems to be a difference of about 10% from what some new builds I am looking at being the asking price to what the actual price is in the register.

Is that something to do with the HTB (help to buy), or simply the developer selling at less than asking?

danspam · 11-01-2021 2:27am

The property price register price does not include 13.5% VAT. Factor that in and you should get the asking price.

11-01-2021 2:30am

SeanJ09 wrote: »

Is this actually the case ? I have two property viewings arranged for tomorrow (both I'm Dublin) and both have been confirmed as going ahead tomorrow by the agent. Should this not be happening under L5 restrictions?

Did a viewing last friday on location fyi

Dick Turnip · 12-01-2021 11:24am

Reading the last few pages, I realise now how lucky I got in going sale agreed before Christmas, looks everything is on hold really at the moment.

Quick summary of my timeline -

Got AIP in August
Got AIP on LTI exemption in November
Viewed house (in Dublin) twice in November
Put in 1st offer in mid-Dec
Final offer accepted a week before Christmas
Paid deposit and managed to get surveyor and valuation done the days before Christmas
Submitted remaining paperwork to broker last week (recent payslip, bank statements etc)
Have agreed a date in mid-Feb to close and get keys

No hiccups so far, hopefully runs smoothly the next 4/5 weeks!

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

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