Clay Farm, Leopardstown, Dublin 18

Newhomebuyer · 11-10-2020 12:49pm

Tdillers wrote: »

Got a viewing spot first thing Friday morning, has anyone seen the viewing of the map for this launch. Seems to be surrounded by apartments and east village what ever that is going to be. Don’t think I’d like to be over looking them.

I doubt they are going to take one to the actual site. Also they do not have showhouse for all.
Half a million euros and such poor choice of homes. ðŸ˜’

Tdillers · 11-10-2020 2:56pm

So easy village is all apartments? I drove up today and only noticed the big electricity towers and wires which would be an absolute eye sore! Does anyone think these houses will hold their value in years to come? They are finished quite well.

Newhomebuyer · 11-10-2020 5:38pm

Tdillers wrote: »

So easy village is all apartments? I drove up today and only noticed the big electricity towers and wires which would be an absolute eye sore! Does anyone think these houses will hold their value in years to come? They are finished quite well.

Is it possible to drive inside? We could never get past the barricades

Newhomebuyer · 11-10-2020 5:38pm

Tdillers wrote: »

So easy village is all apartments? I drove up today and only noticed the big electricity towers and wires which would be an absolute eye sore! Does anyone think these houses will hold their value in years to come? They are finished quite well.

Is it possible to drive inside? We could never get past the barricades

Newhomebuyer · 11-10-2020 5:40pm

Tdillers wrote: »

So easy village is all apartments? I drove up today and only noticed the big electricity towers and wires which would be an absolute eye sore! Does anyone think these houses will hold their value in years to come? They are finished quite well.

East village is built to rent apartments

Piehead · 11-10-2020 5:41pm

Not sure why these are priced higher that the more mature Glencairn estate up the road? Clay farm is closer to the dodgy part past Dunnes stores and that awful eyesore of the ESB sub station.

Tdillers · 11-10-2020 8:39pm

Does anyone know if the EA issue contracts as soon as you pay your deposit? Do you have to sign these even though you haven’t seen your house at it’s finished product? Seems phase 2 is at least 3-5 months off.

JamieJ · 11-10-2020 8:40pm

The houses in Clay Farm are finished very well and good value per sq meter than other second hand houses for sale in Glencairn and The Gallops in my opinion.

But I do think Phase 2 is let down by being so overlooked by apartments, limited houses with good aspects, living on a building site for so long and closer to ESB station.

I am sorry we didn't get our act together sooner for a Phase 1 house. But maybe my mind will be changed next weekend at the launch.

Newhomebuyer · 11-10-2020 9:48pm

Inspite of all of the above points there is no drop in the interest levels and the number of people who will put in deposits.
I am sure the 3 beds will be gone in a blink of an eye

JDD · 12-10-2020 11:45am

Piehead wrote: »

Not sure why these are priced higher that the more mature Glencairn estate up the road? Clay farm is closer to the dodgy part past Dunnes stores and that awful eyesore of the ESB sub station.

I can understand your confusion Piehead. It's definitely closer to the dodgy end of Ballyogan Road, and that eyesore of an ESB station, and the Glencairn estate is much more widely spaced with lots of trees and front gardens etc.

But the Glencairn houses are 25 years old now. Most of them have a BER rating of D (some are better, if they owners have done some insulation works). I'm in a Clay Farm 3 bed and I tell you what, they are toasty warm - no drafts or anything. And our electricity/gas bill is under half what it used to be. Also, the Glencairn three beds are generally smaller (95sqm-ish) than the smallest of the 3 beds in Clay Farm. Again, you can get 3 beds in Glencairn that are bigger, but that's only if the owners have extended and then those houses are priced accordingly.

In the new phase I'd be trying to buy a house a couple of roads back from the substation. Yes, you'll be able to see it when you leave your house but I wouldn't want to be able to see it from the upstairs windows. Ideally you wouldn't want one of the four beds that are overlooked by the East Village apartments - the roads in Clay Farm are narrow and the apartments would block a lot of light from the front of your house.

Vraj009 · 15-10-2020 11:33am

Since extended help to buy scheme is valid till end of next year, do you all see people will be more mindful about what they are buying and not just buy any house that is available.

Newhomebuyer · 15-10-2020 2:58pm

Vraj009 wrote: »

Since extended help to buy scheme is valid till end of next year, do you all see people will be more mindful about what they are buying and not just buy any house that is available.

True. But constructions are not happening at a pace that buyers will be spoilt for choices. But if that happens. Nothing like it.

Newhomebuyer · 15-10-2020 9:36pm

Good luck to everyone who landed a viewing tomo!!!! Hope you get what you are interested in.

Smouse156 · 16-10-2020 1:00pm

Can people who bought share their experiences of living in the estate? Any issues around social etc? Nice for families?

Newhomebuyer · 16-10-2020 1:14pm

Did anyone get a house. My friend went as the 5th person and barring one all elder homes were taken

Tdillers · 16-10-2020 4:17pm

Does anyone who bought know are you expected to sign contracts straight away even though houses are not finished yet? I secured a fern.

googlewhack · 16-10-2020 5:48pm

No, expectation is to sign within 28 days. All to be taken with a pinch of salt though.

JDD · 19-10-2020 5:08pm

Tdillers - we were told that provision of the white goods - fridge, freezer etc - were dependent on us signing the contract within the 28 days. They are quite strict about that. I ended up delivering the signed contract to the solicitors (Matheson) offices at 5pm on the 28th day!

Of course, you might decide that you want extra time to try and negotiate a particular clause in the contract, and the white goods isn't enough of a carrot to get you to shorten the negotiation time. That's completely up to you.

It's not unusual with new builds, in Ireland anyway, to sign a contract and hand over the 10% deposit without the house being finished. It seems bonkers, I know, to be handing your life savings over to someone without seeing the finished product and/or taking the risk that the builder goes bust in the intervening six months between deposit and closing. But that appears to be the way that new estates work, at least in times when there is a lot of demand.

I live on the estate. If you hunt through my posts I've given more detail on the pros and cons of the estate. To summarise, I really like living here, there's no real social issues apart from the odd group of teenagers in the Ecopark at night (we're not close enough to hear them), there's a really nice sense of community and the houses are well built and sound insulated if a little densely packed in and needs more greenery.

abhishek8720 · 22-10-2020 7:26pm

JDD wrote: »

Tdillers - we were told that provision of the white goods - fridge, freezer etc - were dependent on us signing the contract within the 28 days. They are quite strict about that. I ended up delivering the signed contract to the solicitors (Matheson) offices at 5pm on the 28th day!

Of course, you might decide that you want extra time to try and negotiate a particular clause in the contract, and the white goods isn't enough of a carrot to get you to shorten the negotiation time. That's completely up to you.

It's not unusual with new builds, in Ireland anyway, to sign a contract and hand over the 10% deposit without the house being finished. It seems bonkers, I know, to be handing your life savings over to someone without seeing the finished product and/or taking the risk that the builder goes bust in the intervening six months between deposit and closing. But that appears to be the way that new estates work, at least in times when there is a lot of demand.

I live on the estate. If you hunt through my posts I've given more detail on the pros and cons of the estate. To summarise, I really like living here, there's no real social issues apart from the odd group of teenagers in the Ecopark at night (we're not close enough to hear them), there's a really nice sense of community and the houses are well built and sound insulated if a little densely packed in and needs more greenery.

Okay, I am noob when it comes to first time buying, and was wondering if signing the contract entails the last step i.e drawing down on the mortgage? Or is it just something that legally obliges you to commit to the house sale, and you continue with the other processes involved in the buying process(like conveyancing, valuation etc).

Was curious why it took 28 days from putting the initial deposit(10k) amount to delivering the signed contract, and what really happens between putting the initial deposit and signing of contract?

Newhomebuyer · 22-10-2020 8:32pm

Tdillers wrote: »

Does anyone who bought know are you expected to sign contracts straight away even though houses are not finished yet? I secured a fern.

Apparently the contracts are sent to solicitors today or tomo

Darc19 · 22-10-2020 9:02pm

abhishek8720 wrote: »

Okay, I am noob when it comes to first time buying, and was wondering if signing the contract entails the last step i.e drawing down on the mortgage? Or is it just something that legally obliges you to commit to the house sale, and you continue with the other processes involved in the buying process(like conveyancing, valuation etc).

Was curious why it took 28 days from putting the initial deposit(10k) amount to delivering the signed contract, and what really happens between putting the initial deposit and signing of contract?

The contract is a legally binding promise to buy. The approx date of completion will be in the contract. (can be a couple of weeks or several months)

It's the "closing" that entails the mortgage drawdown

28 days is slow but not overly for the contracts. It may be another 2-3 weeks before you sign it as your solicitor may have queries.

Make sure that if the mortgage is withdrawn by the lender for any reason that the deposit can be returned.

abhishek8720 · 22-10-2020 9:23pm

Darc19 wrote: »

The contract is a legally binding promise to buy. The approx date of completion will be in the contract. (can be a couple of weeks or several months)

It's the "closing" that entails the mortgage drawdown

28 days is slow but not overly for the contracts. It may be another 2-3 weeks before you sign it as your solicitor may have queries.

Make sure that if the mortgage is withdrawn by the lender for any reason that the deposit can be returned.

Thanks, that was helpful. So I am assuming that when you show up with the signed contract you are expected to bring along the remaining of the 10% deposit amount (10%- 10k paid earlier)?

Also if you don't sign the contract within 28 days, do they put a price on white goods for you to pay or just rip it out? I am asking this from a completed apartment's perspective which would have these things installed by the time I view and make a selection.

Newhomebuyer · 23-10-2020 9:36am

abhishek8720 wrote: »

Thanks, that was helpful. So I am assuming that when you show up with the signed contract you are expected to bring along the remaining of the 10% deposit amount (10%- 10k paid earlier)?

Also if you don't sign the contract within 28 days, do they put a price on white goods for you to pay or just rip it out? I am asking this from a completed apartment's perspective which would have these things installed by the time I view and make a selection.

Hi Abhishek, have you booked any apartment in the last phase? Have they given any completion dates?

Kaede · 23-10-2020 9:54am

abhishek8720 wrote: »

Thanks, that was helpful. So I am assuming that when you show up with the signed contract you are expected to bring along the remaining of the 10% deposit amount (10%- 10k paid earlier)?

Also if you don't sign the contract within 28 days, do they put a price on white goods for you to pay or just rip it out? I am asking this from a completed apartment's perspective which would have these things installed by the time I view and make a selection.

Don't worry too much about the 28 days.
My contract was signed later than the 28 days, as my solicitor had queries she wanted to be addressed first, but we got our appliances anyway. Just make sure to mention to your solicitor about it and he/she can ask for an extension if needed.

abhishek8720 · 23-10-2020 10:56am

Kaede wrote: »

Don't worry too much about the 28 days.
My contract was signed later than the 28 days, as my solicitor had queries she wanted to be addressed first, but we got our appliances anyway. Just make sure to mention to your solicitor about it and he/she can ask for an extension if needed.

Thank you, that was helpful!

abhishek8720 · 23-10-2020 10:57am

Newhomebuyer wrote: »

Hi Abhishek, have you booked any apartment in the last phase? Have they given any completion dates?

Hi, I am still in the process of looking around, and clayfarm was one of the developments we had short listed. I will probably be calling Savills soon to check on this.

JDD · 23-10-2020 12:56pm

Okay, this is the process for new builds.

You go to the bank looking for a mortgage. You submit a few initial documents and they will give you an "Approval In Principal" letter. This just enables you to start house hunting. The AIP letter isn't binding on the bank, it just gives you a ballpark for the amount you will get approved for once you have submitted all your documentation.

You decide on Clay Farm. The launch day is a couple of months away. This is when you get your *ss in gear to get your "Letter of Offer" from your chosen bank. Give yourself a bit of time for this, because they ask for a LOT of documents. You get your Letter of Offer, which is valid for six months (AIB do 12 months I think). Be careful - this doesn't mean you can now change jobs or take out a loan. The offer is only valid as long as nothing changes in your circumstances during those 6 months - and they will look for some updated documentation (payslips etc) just before drawdown.

You attend on the launch day, pick you house, and put down a "booking deposit" of €5k-€10k. This is fully refundable up to the day you sign your contracts.

On the launch day, you give Savills the name and address of your solicitors. The contracts are posted out to your solicitors pretty much the next day. Savills don't hang about.

Your solicitors try to amend the pro forma contract sent out. To be honest, unless there are factual mistakes in the contract, it's difficult to get Matheson (Park's solicitors) to change anything.

Once approximately 28 days are up you return the contracts along with the remainder of the 10% deposit (deposit - booking deposit). You are then locked in. It will take anything from three to five months for the house to be completed. Once it is, you contact your Bank, they send out a valuer to make sure it's finished and worth the mortgage, and then you drawdown the full amount of the mortgage and send it on to Park Developments. You get your keys on the same day.

One big issue, is that there is no safety net clause in the pro forma contract that covers you if you have a pay cut or something else happens and the bank decide that you no longer are approved for the full amount of the mortgage. Another risk is that it takes more than six months to finish your house, your letter of offer expires, and you have to apply all over again for a new mortgage. The bank's lending criteria may have changed in the meantime and there's no guarantee that you'd get the same level of approval.

Park are aware of this, and so far they have made sure that every house is ready for closing well in advance of the six month deadline from putting down the booking deposit. It's up to you to make sure nothing changes in your financial status for those 3-5 months. It's a risk.

Perhaps some buyers were able to get that clause into the contract, but we weren't. I don't know if Park would be more amenable to it now, given the precarious nature of the economy and people's employment, but I'd nearly say that unless you are in the public service or in a REALLY secure job, I would be making every effort to get that clause into the contract - and it may be worth giving up the white goods so that you can try and negotiate it further. Nobody wants to be left in a situation where you have paid €40,000 deposit, got a paycut and then can't drawdown the mortgage. You can't get that €40,000 back.

abhishek8720 · 23-10-2020 1:23pm

JDD wrote: »

Okay, this is the process for new builds.

You go to the bank looking for a mortgage. You submit a few initial documents and they will give you an "Approval In Principal" letter. This just enables you to start house hunting. The AIP letter isn't binding on the bank, it just gives you a ballpark for the amount you will get approved for once you have submitted all your documentation.

You decide on Clay Farm. The launch day is a couple of months away. This is when you get your *ss in gear to get your "Letter of Offer" from your chosen bank. Give yourself a bit of time for this, because they ask for a LOT of documents. You get your Letter of Offer, which is valid for six months (AIB do 12 months I think). Be careful - this doesn't mean you can now change jobs or take out a loan. The offer is only valid as long as nothing changes in your circumstances during those 6 months - and they will look for some updated documentation (payslips etc) just before drawdown.

You attend on the launch day, pick you house, and put down a "booking deposit" of €5k-€10k. This is fully refundable up to the day you sign your contracts.

On the launch day, you give Savills the name and address of your solicitors. The contracts are posted out to your solicitors pretty much the next day. Savills don't hang about.

Your solicitors try to amend the pro forma contract sent out. To be honest, unless there are factual mistakes in the contract, it's difficult to get Matheson (Park's solicitors) to change anything.

Once approximately 28 days are up you return the contracts along with the remainder of the 10% deposit (deposit - booking deposit). You are then locked in. It will take anything from three to five months for the house to be completed. Once it is, you contact your Bank, they send out a valuer to make sure it's finished and worth the mortgage, and then you drawdown the full amount of the mortgage and send it on to Park Developments. You get your keys on the same day.

One big issue, is that there is no safety net clause in the pro forma contract that covers you if you have a pay cut or something else happens and the bank decide that you no longer are approved for the full amount of the mortgage. Another risk is that it takes more than six months to finish your house, your letter of offer expires, and you have to apply all over again for a new mortgage. The bank's lending criteria may have changed in the meantime and there's no guarantee that you'd get the same level of approval.

Park are aware of this, and so far they have made sure that every house is ready for closing well in advance of the six month deadline from putting down the booking deposit. It's up to you to make sure nothing changes in your financial status for those 3-5 months. It's a risk.

Perhaps some buyers were able to get that clause into the contract, but we weren't. I don't know if Park would be more amenable to it now, given the precarious nature of the economy and people's employment, but I'd nearly say that unless you are in the public service or in a REALLY secure job, I would be making every effort to get that clause into the contract - and it may be worth giving up the white goods so that you can try and negotiate it further. Nobody wants to be left in a situation where you have paid €40,000 deposit, got a paycut and then can't drawdown the mortgage. You can't get that €40,000 back.

Thank you, this is exactly what I was looking for.

My situation is a bit tricky; I am looking to buy an apartment with them, and I know that some of them are ready to move in, while some are in development. I have an approval in principle letter to hand, the only problem is my HTB benefit is only 12.5(I moved to Ireland only in 2018). If I wait until January to file my returns, I can get the full HTB benefit of 30k(between my wife and myself). Given the market, if I wait until January, my choice will diminish, while my HTB would increase. Which is why I was trying to find the most optimum way out of this situation.

JDD · 23-10-2020 1:31pm

Oh, that is a difficult one.

On balance, I'd take the risk and wait until you had the full HTB. Apartments don't sell as quickly as the houses do, but I suppose it all depends on what supply of apartments will be built in Phase 2, as your safety net. As far as I'm aware, all the East village apartments have been sold to a professional landlord, and some at least of the West Village apartments have been allocated for social housing. So you'd be left with what has yet to be sold in Phase 1, and I'm not sure whether there's a bottleneck of demand for those, or whether they're just slowly and steadily selling.

Actually, there are more apartments being built in Phase 1, closer to the Gallops Luas stop? Presumably they would go on sale at some point in the next few months. I'd hold out for those (assuming they won't increase in price), and wait for your full HTB.

abhishek8720 · 23-10-2020 2:15pm

Yeah, I guess I will wait until the full HTB and then shift gears.

18 grand is a lot of money to throw away to save a month.

Darc19 · 23-10-2020 9:01pm

The market is soft enough, and with lockdown and Christmas, you can be fairly certain Park will give leniency on closing dates.

Excellent explanation above by JDD on the process.

A good solicitor is worth it for a first purchase. I'd heartily recommend <SNIP> for a truly decent firm that will give you general advice too.

twoeyes · 24-10-2020 12:56pm

JDD wrote: »

Perhaps some buyers were able to get that clause into the contract, but we weren't. I don't know if Park would be more amenable to it now, given the precarious nature of the economy and people's employment, but I'd nearly say that unless you are in the public service or in a REALLY secure job, I would be making every effort to get that clause into the contract - and it may be worth giving up the white goods so that you can try and negotiate it further. Nobody wants to be left in a situation where you have paid €40,000 deposit, got a paycut and then can't drawdown the mortgage. You can't get that €40,000 back.

Thank you, this is super useful. I am wondering if Park is not willing to budge on this, do I even have a choice in the Dublin market? We are in fairly stable jobs but who has seen the future. With no prior home buying experience, we are clueless how much leverage we have and if delaying the contract to get the clause in will lead us to losing the white goods as well.

Newhomebuyer · 24-10-2020 8:09pm

Hi I know this might not be the correct forum but did any one owning the Clayfarm houses appoint an interior designer to get their houses done?

JamieJ · 25-10-2020 3:01pm

Hi all, anyone know the current status of the latest release? Did all of 3 and 4 beds sell out yet?

decorfali9 · 25-10-2020 5:06pm

JamieJ wrote: »

Hi all, anyone know the current status of the latest release? Did all of 3 and 4 beds sell out yet?

The 3 beds were gone on the first date of the launch. We were lucky enough to secure the last Fern and our appointment was only early afternoon. The Elders were gone even earlier than that. There should be some 4 beds left. AFAIK they still recently had some available from the previous release they did a few months ago.

decorfali9 · 25-10-2020 5:38pm

Has anyone got word of contracts served to their solicitors? The EA suggested this would happen in about a week, which would've been around last Friday.

Newhomebuyer · 26-10-2020 9:45am

decorfali9 wrote: »

Has anyone got word of contracts served to their solicitors? The EA suggested this would happen in about a week, which would've been around last Friday.

They were apparently given out on Friday but our solicitors have not received it yet.

Leonardohann · 27-10-2020 3:12pm

Newhomebuyer wrote: »

Hi I know this might not be the correct forum but did any one owning the Clayfarm houses appoint an interior designer to get their houses done?

Did you find anyone? I might be looking for one as well

Leonardohann · 27-10-2020 3:13pm

Newhomebuyer wrote: »

They were apparently given out on Friday.

Is that for the houses? Heard that the contract will be delayed for a month as the 3 beds are not expected to complete until Mar/Apr 2021?

Newhomebuyer · 27-10-2020 6:58pm

Leonardohann wrote: »

Did you find anyone? I might be looking for one as well

Nope. Nobody responded

Newhomebuyer · 27-10-2020 6:59pm

Leonardohann wrote: »

Is that for the houses? Heard that the contract will be delayed for a month as the 3 beds are not expected to complete until Mar/Apr 2021?

The elders from 19-23 seemed incomplete but the rest of the houses seemed fine

Newhomebuyer · 27-10-2020 7:28pm

Leonardohann wrote: »

Is that for the houses? Heard that the contract will be delayed for a month as the 3 beds are not expected to complete until Mar/Apr 2021?

Did the EA say that?

Leonardohann · 28-10-2020 9:50am

Newhomebuyer wrote: »

Did the EA say that?

Yes for the ones having late completion

Newhomebuyer · 28-10-2020 2:13pm

Hi the contracts are sent to the solicitor as confirmed by ea

JDD · 02-11-2020 11:03am

Leonardohann wrote: »

Yes for the ones having late completion

If that's the case I would ask your bank not to issue the Letter of Offer until as close as possible to signing the contracts. You don't want to get your Letter of Offer today, and then not sign your contracts until December, and have your Letter of Offer expire at the end of April, just when you are so close to getting the keys. Bank of Ireland did that for us and I think most banks will do it as long as it is only 3 or 4 weeks delay.

Always add six weeks onto any date that a developer says the house will be ready. Park are pretty good at delivering to the plan, but there are some things - such as the ESB coming to link up electricity - that are out of their hands. Our house was four weeks late and that's pretty good on the scale of things. I think the phase before us was two months late because of ESB delays.

Leonardohann · 03-11-2020 8:49pm

JDD wrote: »

If that's the case I would ask your bank not to issue the Letter of Offer until as close as possible to signing the contracts. You don't want to get your Letter of Offer today, and then not sign your contracts until December, and have your Letter of Offer expire at the end of April, just when you are so close to getting the keys. Bank of Ireland did that for us and I think most banks will do it as long as it is only 3 or 4 weeks delay.

Always add six weeks onto any date that a developer says the house will be ready. Park are pretty good at delivering to the plan, but there are some things - such as the ESB coming to link up electricity - that are out of their hands. Our house was four weeks late and that's pretty good on the scale of things. I think the phase before us was two months late because of ESB delays.

Thanks, appreciate it

decorfali9 · 04-11-2020 6:30pm

Hi all. Anyone's solicitors got their contracts? We too were told ours were sent last Friday but they haven't reached our solicitor yet. We would've expected them after 3 working days.

Darc19 · 04-11-2020 10:17pm

decorfali9 wrote: »

Hi all. Anyone's solicitors got their contracts? We too were told ours were sent last Friday but they haven't reached our solicitor yet. We would've expected them after 3 working days.

Post is slow at the moment. Add about 3 days.

Newhomebuyer · 05-11-2020 6:12am

decorfali9 wrote: »

Hi all. Anyone's solicitors got their contracts? We too were told ours were sent last Friday but they haven't reached our solicitor yet. We would've expected them after 3 working days.

Yes.

Leonardohann · 05-11-2020 10:14am

Hi all,

Has the cheque amount been withdrawn from the account? Not withdrawn from mine yet - anyone else in similar situation?

Clay Farm, Leopardstown, Dublin 18

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