Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Can I bypass the builder and go straight to the bank?

Options
  • 11-12-2009 2:24am
    #1
    niallo27
    Registered Users Posts: 16,024 ✭✭✭✭


    Hi all, i was looking at a house recently, it was priced at 700 grand, now the builder is local and his business had gone under, he says he wont take under 300 grand for it, i think he might go for 250, now the question is can i bypass him altogether and go straight to the bank with an offer.

    I was just looking for some advice on how to find out what bank he is dealing with as well. Its a huge house in a nice area and i know he is under pressure and i have no sympathy for these builders so i was just looking for some advice on my next step to take.
    Thanks


Comments

  • Options
    #2
    Senna
    Registered Users Posts: 8,800 ✭✭✭Senna


    niallo27 wrote: »
    i think he might go for 250

    If you think he'll go for 250k then why dont you offer him it??


  • Options
    #3
    niallo27
    Registered Users Posts: 16,024 ✭✭✭✭niallo27


    Senna wrote: »
    If you think he'll go for 250k then why dont you offer him it??

    Yes but if i could go to the bank and offer 200 they might take it, i not really sure how it works, can i approach the banks


  • Options
    #4
    pebbles21
    Registered Users Posts: 1,817 ✭✭✭pebbles21


    niallo27 wrote: »
    Yes but if i could go to the bank and offer 200 they might take it, i not really sure how it works, can i approach the banks


    Do you want a big cherry on top of the house aswell?


  • Options
    #5
    niallo27
    Registered Users Posts: 16,024 ✭✭✭✭niallo27


    pebbles21 wrote: »
    Do you want a big cherry on top of the house aswell?

    who rattled your cage


  • Options
    #6
    mrgaa1
    Closed Accounts Posts: 759 ✭✭✭mrgaa1


    pebbles21 wrote: »
    Do you want a big cherry on top of the house aswell?
    well said. The question is who is selling the house - the builder or the bank? Whoever is selling is the person who is dealing with it.

    I have yet to hear anyone going into a supermarket, seeing the prices of the goods and then offering a price. I haven't seen it at a petrol station for fuel, or for home heating oil.


  • Advertisement
  • Options
    #7
    funnyname
    Registered Users Posts: 1,754 ✭✭✭funnyname


    niallo27 wrote: »
    Yes but if i could go to the bank and offer 200 they might take it, i not really sure how it works, can i approach the banks

    I just spoke to the builder this morning and we done a deal, €275k cash but it doesn't include the cherry on top, I'm moving in on Monday.


  • Options
    #8
    martian1980
    Registered Users Posts: 370 ✭✭martian1980


    mrgaa1 wrote: »
    well said. The question is who is selling the house - the builder or the bank? Whoever is selling is the person who is dealing with it.

    I have yet to hear anyone going into a supermarket, seeing the prices of the goods and then offering a price. I haven't seen it at a petrol station for fuel, or for home heating oil.

    Aren't analogies just great! What about someone selling a car? Is it acceptable to make an offer for that?


  • Options
    #9
    whizzbang
    Registered Users Posts: 1,366 ✭✭✭whizzbang


    mrgaa1 wrote: »
    well said. The question is who is selling the house - the builder or the bank? Whoever is selling is the person who is dealing with it.

    I have yet to hear anyone going into a supermarket, seeing the prices of the goods and then offering a price. I haven't seen it at a petrol station for fuel, or for home heating oil.

    You don't see it, but people do it. I hope you haggle for your car insurance!


  • Options
    #10
    niallo27
    Registered Users Posts: 16,024 ✭✭✭✭niallo27


    mrgaa1 wrote: »
    well said. The question is who is selling the house - the builder or the bank? Whoever is selling is the person who is dealing with it.

    I have yet to hear anyone going into a supermarket, seeing the prices of the goods and then offering a price. I haven't seen it at a petrol station for fuel, or for home heating oil.


    The EA is selling the house but i went to the builder and i know he is gone bust, so i just want to know can i go to the bank and make them an offer.
    Why are people so bitter on here, people moan and moan about paying too much for houses and when someone try's to save a few quid,ye have a pop at them too


  • Options
    #11
    Hootanany
    Registered Users Posts: 5,477 ✭✭✭Hootanany


    dont pay in cash nooo noo


  • Advertisement
  • Options
    #12
    kippy
    Registered Users Posts: 18,583 ✭✭✭✭kippy


    funnyname wrote: »
    I'm moving in on Monday.
    As in this coming monday?
    Three days (over the weekend by the way when the legal profession and the various offices you need to deal with for this transaction are closed?

    You'd be very very daft to complete this sale for cash in the time frame you've just given. A good solicitor will take a while to ensure all the deeds are correct and all the legalaties of the house/land are in order.
    Dont jump into this because you think its a good deal, you could get badly stung........


  • Options
    #13
    niallo27
    Registered Users Posts: 16,024 ✭✭✭✭niallo27


    funnyname wrote: »
    I just spoke to the builder this morning and we done a deal, €275k cash but it doesn't include the cherry on top, I'm moving in on Monday.


    I dont know what he is on about here.


  • Options
    #14
    eth0_
    Registered Users Posts: 10,846 ✭✭✭✭eth0_


    Hootanany wrote: »
    dont pay in cash nooo noo

    You do realise when someone buys a house 'for cash' they don't actually mean they're going to fill a wheelbarrow full of wads of euro's and wheel it into the builder's office, right?

    It means they have the money available to them right now, as opposed to have to wait for a mortgage to come through, or the sale of their existing property.


  • Options
    #15
    stepbar
    Closed Accounts Posts: 6,123 ✭✭✭stepbar


    niallo27 wrote: »
    The EA is selling the house but i went to the builder and i know he is gone bust, so i just want to know can i go to the bank and make them an offer.
    Why are people so bitter on here, people moan and moan about paying too much for houses and when someone try's to save a few quid,ye have a pop at them too

    How do you know there's any debt secured against the house? Just because he's gone bust doesn't necessarily mean he offered the house to the bank as security in the good days. If it's his family home then the Family Home Protection Act comes in here and believe me banks are very reluctant to start repossing the family home unless they have no other option and often times won't take them as security.

    Make the guy an offer and leave it at that. I can't understand for the life of me why people get so emotional about a property. If he doesn't accept move on to the next property you like!


Advertisement