Auctioneer pricing a house to sell and mortgage questions

cobweb

I am sitting tenant in a nice 3 bed built 1969/71 in nice part of North Kildare. The landlord is looking to sell the house and he will be geting an auctioneer to come in and value it.

I would be interested in buyin it, have first refusal but there are areas that need to be fixed like mad plumbing coming straight up out of floor about a foot from the wall etc, would stuff like that be considered?

So as the question says what do they look at when pricing a house to be sold? Also do they price to the market or for landlord?


Mortgage questions

I would be a first time buyer and want to know what do I need to be eligable for a mortgage.

How difficult in the current climate would it be for me to get one?

Would the rent I pay at the moment be take into account as mortgage repayments would be less? I pay 1050 pm

My job at the moment is temp but I am waiting to be made permanent

thanks for your help

Rory1

cobweb wrote: »

I am sitting tenant in a nice 3 bed built 1969/71 in nice part of North Kildare. The landlord is looking to sell the house and he will be geting an auctioneer to come in and value it.

I would be interested in buyin it, have first refusal but there are areas that need to be fixed like mad plumbing coming straight up out of floor about a foot from the wall etc, would stuff like that be considered?

So as the question says what do they look at when pricing a house to be sold? Also do they price to the market or for landlord?


Mortgage questions

I would be a first time buyer and want to know what do I need to be eligable for a mortgage.

How difficult in the current climate would it be for me to get one?

Would the rent I pay at the moment be take into account as mortgage repayments would be less? I pay 1050 pm

My job at the moment is temp but I am waiting to be made permanent

thanks for your help

If the house is "prices to sell" then the estate agenet is CLAIMING the asking price is low relative to other similar house, the owner is looking for quick sale.

The word on the street is that only banks lending at moment are Bank of Ireland and AIB and criteria have got much more difficult. A temp job is a negative. Are you sure mortgage repayments would be less than rent?

jdivision

The estate agent may well probably pitch over the real value initially in order to secure the job.

cobweb

thanks

am hoping repayments less then rent

OMD

Just remember to include other things when working out your figures

• Legal Fees
• Life assurance
• Furniture
• House & Contents Insurance
• Necessary repairs
• General Maintanance
• Rise in interest rates- Realistically we are looking at 3% rise in rates in next couple of years.

A temp job is a massive negative. You will also need a deposit of about 10% of purchase price.

cobweb

thanks folks

3 yrs temp in this job hoping to be made permanent this year but wont know for another few months

so only 10% deposit I thought it would be 20%