Can I bid?????

Kinetic^

Just wondering about my situation.

GF and I, put our place up for sale last week. Now there's a few places that we've looked at and are interested in. Can we bid on them???

quazzy

Keyser Soze 5 wrote:

Just wondering about my situation.

GF and I, put our place up for sale last week. Now there's a few places that we've looked at and are interested in. Can we bid on them???

I don't see why not...

The only problem you might find is that your bid is accepted and you have to then sell your own property which may take longer then expected.

I think a lot of property sellers prefer quick sales with 1st time buyers as there is no strings with them.

But if you like a place then bid away.

Good luck with it,

Regards

Q

The_Conductor

If you are interested- it might be an idea to get soundings from the seller as to their intended timescale for closing the sale and then try to coordinate this with your own property. Apart from anything else, this will negate the need for bridging finance and considerably simplify matters if you can simply move from one house straight into another.

Kinetic^

smccarrick wrote:

If you are interested- it might be an idea to get soundings from the seller as to their intended timescale for closing the sale and then try to coordinate this with your own property. Apart from anything else, this will negate the need for bridging finance and considerably simplify matters if you can simply move from one house straight into another.

Thanks smccarrick, just tried to bid and they wouldn't let me because I'm not sale agreed.....should've kept my mouth shut.....after losing out on 2 properties in 1 day now :mad:

Kinetic^

quazzy wrote:

I think a lot of property sellers prefer quick sales with 1st time buyers as there is no strings with them.

Cheers Quazzy, my property is aimed at these type of buyers so we're expecting a quick sale *fingers crossed*

The good thing about our situation is that we have the option to move back to our parent's homes if there is a gap in our residential status.

The_Conductor

Thats tough.
Once you have a few viewings done on your own place- you will no doubt get offers- which will put you in the position you need to be in.
Note: Sale agreed means absolutely nothing. Until contracts have been exchanged anything at all is liable to happen.

Kinetic^

smccarrick wrote:

Thats tough.
Once you have a few viewings done on your own place- you will no doubt get offers- which will put you in the position you need to be in.
Note: Sale agreed means absolutely nothing. Until contracts have been exchanged anything at all is liable to happen.

Yeah I know SA means nothing, will just put us in a position as to what we can spend. We've a good idea already and even if our place went for 5k less it wouldn't affect us that much as we've allowed for that sort of variance.


There's another thing, €4k for solicitors fees for buying and sellling - that includes VAT, outlay, the whole lot....really good price I thought. Originally we got charged €1.5k for buying. I haven't come across anybody as cheap as them.

quazzy

Keyser Soze 5 wrote:

Cheers Quazzy, my property is aimed at these type of buyers so we're expecting a quick sale *fingers crossed*

The good thing about our situation is that we have the option to move back to our parent's homes if there is a gap in our residential status.

Thats a great fallback plan. But with all the SSIA's comin out and millions of 1st time buyers you should have your place sold lickidy split.

Keep us posted.

Q

samo

Keyser Soze 5 wrote:

Thanks smccarrick, just tried to bid and they wouldn't let me because I'm not sale agreed.....should've kept my mouth shut.....after losing out on 2 properties in 1 day now :mad:

Your as well being upfront in some ways.

We recently put a deposit on a new house thats nearly ready to go (we were told they wanted contracts signed and back within 14 days which was next to impossible as our house was only literally just on the market) Auctioneers kind fought our corner a little bit becuase we were honest that our house wasnt sale agreed rather than messing them around and saying it was.

On the flip side, it meant I had to stress to the agent selling that they MUST make sure that any bidders for our house provided them copy of Approval in principle or that they checked with the estate agents involved if they were saying they were sale agreed, for precislely that reason that they werent telling half truths. I'd have gone mad if they hadnt and I think they knew better than to not keep me informed as to the position of a buyer.

To alot of vendors you being in a hassle free position eg sale agreed and contracts exchanged with a FTB with approval in place or someone trading up and selling to a FTB etc might be more important if they risk losing their own secured place than the final bid.

Good luck with it anyhow...stressful times, I'm waiting for my buyers to sign contracts now and when that happens will rest a little easier!!

PoolDude

Which agents refused the bid - seems that there are different rules across the board depending on the agency. Your bid is technically as good as any other and I don't think it can be refused, I think they have to notify the seller of all bids, so if they wanted to accept it, they would know the situation up front.

Kinetic^

PoolDude wrote:

Which agents refused the bid - seems that there are different rules across the board depending on the agency. Your bid is technically as good as any other and I don't think it can be refused, I think they have to notify the seller of all bids, so if they wanted to accept it, they would know the situation up front.

I won't name names but it was part of a property partnership. It went for 360k and we'd allowed for 381k so they effectively lost out on 21k and the estate agent lost some commission.

lomb

thats mad! the agent is legally bound to convey all offers regardless of anything to the vendor. personally if i was the vendor id have no problem with your offer if u agreed to sign contracts within 14 days and produced 10% as well as agreeing on a closing date within 4-6 weeks of full contract exchange with a 10% interest rate for late closing.
estate agents in ireland are cowboys:mad:

Kinetic^

Apologies, I followed this up and the reason I got was that the vendor didn't want more money as they needed to move quickly and couldn't wait for my place to sell.

lomb

Keyser Soze 5 wrote:

Apologies, I followed this up and the reason I got was that the vendor didn't want more money as they needed to move quickly and couldn't wait for my place to sell.

fair enough as long as the vendor knew about your offer u cant really blame the usual suspect the agents.

Kinetic^

lomb wrote:

fair enough as long as the vendor knew about your offer u cant really blame the usual suspect the agents.

Yeah but do they know about it??? I'm not bothered anymore, just going to concentrate on selling our own.

Another thing, I called DNG about a place and ask while talking to them asked them what % they charged for selling and the woman said .75%. So a guy called out and we asked him about fees and he said 1%, i said we were told .75% and he agreed to do it for what I was told. Now here comes the part where I and not the estate agent gets smart.....I told him I want it in writing yesterday and I'm waiting on it in the post. He can do all the viewings in the world but until I get that in writing I'm accepting no bid as I don't want him holding my money, only for him to tell me he's charging 1%. I think everyone selling should get the % on paper before doing anything. I've paid his advertising of €200, is there anything else he's likely to charge me for??

lomb

good point, u cant say if the vendor knew for sure or not. i know agents are in a major rush to close the sale. whether the house sells for 20 more doesnt really effect their commision.
to be very honest with u recently, i bought a property for about 15-25% (very hard to say due to it being an unusual commercial unit) below market value due to the vendors agents incompetence or lack of care and the vendor either not caring or not knowing (probably not caring) and requirement for a fast sale.
i noted he wasnt so much representing the vendor in 'negotiations' but himself.
but i know one thing for sure, the thought of 'MONEY NOW' to a vendor or an agent is enough to get anyone salivating even though it takes months for them to get the money. human nature is great when u understand it:D incidentally the agent gets his commision UP FRONT(5-10 grand from seller), next the vendors solicitor gets paid the 10% which he sits on at 2.5% no doubt for a few months, and only finally does the poor seller get a penny. funny isnt it how its set up?
good luck with your sale,dng will probably honour it, ul pay vat on the commision +outlays like myhome and advertising/sign etc.

The_Conductor

I was quoted .75% by Gunne Residential, along with fees of 600 for advertising hoarding ( x 2) local advertising, national advertising and a Myhome.ie listing.

Kinetic^

smccarrick wrote:

I was quoted .75% by Gunne Residential, along with fees of 600 for advertising hoarding ( x 2) local advertising, national advertising and a Myhome.ie listing.

Well we paid €200 advertising up front, like I said earlier, I'm not doing anything until I get that letter about his fees.

mad m

Keyser Soze 5 wrote:

Well we paid €200 advertising up front, like I said earlier, I'm not doing anything until I get that letter about his fees.

Your doing well with €200,I've to pay €340+vat with 0.80% of value of house if they sell it....But Im dropping estate agents now,so I'll get stung with advertising fees.

Kinetic^

mad m wrote:

Your doing well with €200,I've to pay €340+vat with 0.80% of value of house if they sell it....But Im dropping estate agents now,so I'll get stung with advertising fees.

Well this is the thing, I'm still not 100% sure that I'm going to get a good deal. I'll let you know when/if I receive a letter stating fees and I'll let you lot decide for yourselves.

mad m

Well your solictors fees seem ok to me,we were quoted today for buying at €2300.They originally told us it was €1250 fees(buying&selling) plus the extras. But got them down to €995 for buying and €995 for selling,we said we were returning customers ,you never know till you ask!

So I guess it should be more or less the same,maybe a little less so around same as your price.