Question about buying property.

bobbiw

If I was interested in buying a property that was a childhood home or a relatives home how would I go about it.

Not for residential or investment but because I wanted it how would I do it.

I dont live in Ireland anymore and I cant just walk up and say "I want this house here is twice its value in a check"

Anyone have any ideas, should I get a solicitor or heavens forbid one of the idiot estate agents to look into it (I doubt they have the ability or ingenuity)

irlrobins

I'm assuming the property is not currently on the market. In that case you have two options.

You could write to the current occupant and say that you're looking to purchase the property and are they interested in selling?

Or you could engage an estate agent to pretty much do the same thing.

Either way, the occupant will either come back to you with "No, not selling" or possible "Have you a price in mind".

If the property is not on the market though, you might not have much success.

mathie

bobbiw wrote: »

If I was interested in buying a property that was a childhood home or a relatives home how would I go about it.

Not for residential or investment but because I wanted it how would I do it.

I dont live in Ireland anymore and I cant just walk up and say "I want this house here is twice its value in a check"

Anyone have any ideas, should I get a solicitor or heavens forbid one of the idiot estate agents to look into it (I doubt they have the ability or ingenuity)

Is the property in Ireland?

The_Conductor

You really need to give us a bit more information to work on here......

Is the property occupied or unoccupied- and what are the rights the occupant (if any) have to the property. Who is the owner- and are they likely to accede to your offer to purchase the property. Why would you suggest offering them a cheque for twice the value of the property- thats quite bizarre.

There are hundreds of under and unemployed conveyancing solicitors the length and breadth of the country who would be thrilled to talk to you......

bobbiw

smccarrick wrote: »

You really need to give us a bit more information to work on here......

Is the property occupied or unoccupied- and what are the rights the occupant (if any) have to the property. Who is the owner- and are they likely to accede to your offer to purchase the property. Why would you suggest offering them a cheque for twice the value of the property- thats quite bizarre.

There are hundreds of under and unemployed conveyancing solicitors the length and breadth of the country who would be thrilled to talk to you......

Its a childhood home in Ireland, South Dublin, I would like to buy it, I admit I wouldnt pay twice its price, but I wondered how you would go about it. I dont think I would look at it now because its probobly around 500k and I think its worth a quarter of that, so I would wait for a few years.

The_Conductor

bobbiw wrote: »

Its a childhood home in Ireland, South Dublin, I would like to buy it, I admit I wouldnt pay twice its price, but I wondered how you would go about it. I dont think I would look at it now because its probobly around 500k and I think its worth a quarter of that, so I would wait for a few years.

There is inherent value associated with certain areas, and certain property types. Aka- the bulk of the property falls are focused in commuter towns and areas which have had massive development over the past few years without commensurate investment in facilities and amenities. The bulk of the falls will also tend to be focused on apartments and managed units. Yes- there will be falls in South Dublin- but to expect house prices in South Dublin to fall to 1/4 of where they are today- is clearly wishful thinking. That is not to say some prices won't- only its far likely to be somewhere like Adamstown with 22,000 new dwellings, or Clonee- where parents are having to resort to all sorts of underhand methods to get school places- than any mature area of South Dublin.

bobbiw

smccarrick wrote: »

There is inherent value associated with certain areas, and certain property types. Aka- the bulk of the property falls are focused in commuter towns and areas which have had massive development over the past few years without commensurate investment in facilities and amenities. The bulk of the falls will also tend to be focused on apartments and managed units. Yes- there will be falls in South Dublin- but to expect house prices in South Dublin to fall to 1/4 of where they are today- is clearly wishful thinking. That is not to say some prices won't- only its far likely to be somewhere like Adamstown with 22,000 new dwellings, or Clonee- where parents are having to resort to all sorts of underhand methods to get school places- than any mature area of South Dublin.

I guess you are right. My father sold it in the late 80s for 70k Pounds and now its probobly 600k, still almost 1000% in 20 years is a lot.

Decent appreciation of around 5% a year would put is less than 150k.

I do realise if it dropped to that then well, Ireland would effectively have to be bankrupt, I dont see that happening.

But the goverment scares me.