How much would you offer for this property?

lisasimps

subway wrote: »

http://planning.corkcity.ie/InternetEnquiry/rpt_QueryBySurForRecLoc.asp
just put the road in and you can see plenty of info there.
as this doesnt have PP you would need to get it checked out by someone with more than just access to the public database.
dont buy anything with dodgy title etcst make sure they make sense to you

Thanks for that, if I did proceed i'd get a solicitor involved anyway.

What questions should I be asking when I go to view it?

iguana

Ortiz wrote: »

Fair enough. It would have some degree of rental value though wouldn't it? I'd say you could rent it out for €300 - €400. So that must mean it has some capital value also. €70k is def way out but if you could buy it at €30k and rent it for €400 p/m would you?

No because it probably doesn't have legal status as a stand alone property. If I was buying a house like the one it is an extension of, I might be tempted to pay something extra for the house with the granny flat than one without. Though even that could be a liability if it was badly converted.

Ortiz

Ya that's fair enough.

OP it really does sound like you're taking some advice on board. Just make sure you cover all the bases. Issues like title and pp will need to be looked into. If you seek all advice and still want to buy the property put in a cheeky offer and see what reaction you get.

Another thing to check out is the roof. It's hard to see but it looks like a flat roof - As far as I know these types of roofs tend to have a lot of issues about 15 years after construction.

The more I look at the property the less I think it's worth tbh

subway

lisasimps wrote: »

What questions should I be asking when I go to view it?

start off with planning permission, boundaries, build date and go from there
bring these with you maybe?

image from bing showing boundaries


image from planning permission site showing nothing for the property

lisasimps

Wow Subway thanks for doing that, your very good!

Ive saved them to my desktop and i'll print them off when I go view it!

Cheers!

wannabecraig

After all you've heard here you're still thinking of going to view this? Insane is not the word. I wish you luck in life.

dory

OP, I know people are calling you all sorts, but during 'the boom' it was actually quite common to build a house in one's garden. Even in housing estates where they were all squished together anyway. I can't find it right now but there's someone selling their garden in the Shamrock Lawn area of Douglas/Grange at the moment. From what I remember it cost a pretty penny. Maybe you could look into what happened in those cases regarding who owns the land etc.
But that said, I've never seen one attached to the original house. From all you've described it sounds likes it may be what you're looking for. I'm the same, I have no interest in ever having a big mortgage, and I could happily live in a box.

But also, I wouldn't knock the advice here. This is fast becoming my favourite forum on boards. These people know their stuff!

lisasimps

dory wrote: »

OP, I know people are calling you all sorts, but during 'the boom' it was actually quite common to build a house in one's garden. Even in housing estates where they were all squished together anyway. I can't find it right now but there's someone selling their garden in the Shamrock Lawn area of Douglas/Grange at the moment. From what I remember it cost a pretty penny. Maybe you could look into what happened in those cases regarding who owns the land etc.
But that said, I've never seen one attached to the original house. From all you've described it sounds likes it may be what you're looking for. I'm the same, I have no interest in ever having a big mortgage, and I could happily live in a box.

But also, I wouldn't knock the advice here. This is fast becoming my favourite forum on boards. These people know their stuff!

Thanks a mill Dory, i'll look into that!!

Im taking all the (constructive) advice here on board, and I feel much more informed now so im grateful for all those who took the effort to give me an intelligent responce.

The one liners that are just a dig just roll off my back!

But your right about it being what im looking for!!
It has all the qualities I need and would want, at a (hopefully) very affordable price! If I could own it outright legally (gotta look into all that) then the property would make me very happy, whether it was a celtic tiger chancer that built it or not

the_syco

lisasimps wrote: »

although with regards to the esb, i'd guess it is independent because i just had a look and theres a meter box on the side of the property

That's the usual location for the ESB of the entire house...

Deleted User wrote: »

It's possible that the house was designed to have a garage attached, so could have had a doorway through to it. The house beside it also has a single story attachment, but not possible to see what it is in the photo.

The house to the left is a single story house, with a decent sized roof on top of it. See: http://www.bing.com/maps/?v=2&cp=snf823g8tjj5&scene=53809942&lvl=2&sty=b The house in the middle of the page is the house that you talk about, with the apartment to it's right the one the OP is looking at.

Ortiz wrote: »

Another thing to check out is the roof. It's hard to see but it looks like a flat roof - As far as I know these types of roofs tend to have a lot of issues about 15 years after construction.

THIS CAN BE A BIG ISSUE. The garage in my parents house was converted, and although it does keep the heat in, the roof has cracked a few times in the past with the snow, and drips have come in.

=-=

By the way, regarding subways post, what's the legality of selling something that doesn't have correct planning permission?

the_syco

the_syco wrote: »

That's the usual location for the ESB of the entire house...


The house to the left is a single story house, with a decent sized roof on top of it. See: http://www.bing.com/maps/?v=2&cp=snf823g8tjj5&scene=53809942&lvl=2&sty=b The house in the middle of the page is the house that you talk about, with the apartment to it's right the one the OP is looking at.
=-=

By the way, regarding subways post, what's the legality of selling something that doesn't have correct planning permission?

Thanks about the comment about the neighbours house, just couldn't see it on the original advert. I just guessed that it was a row of semis.

The planning issue could be a major problem, does the extension comply with fire regulations, can it be legally separated from the original property.

The owners may need to apply for retention if no permission was granted in the first place, but I do see that the extension is nine years old so may now be exempt (time to report unauthorised developments having expired), you need legal advice on that.

Gone West

OP is not looking for advice, OP is looking for validation.

Any real advice that was given was replied to with "yeah I know Im mad, BUT..."

Sound Bite

OP, yes I think you're mad but if you're serious about pursuing this my advise to you is.....

(1) Seek approval of loan facility. It is extremely unlike that you will be able to get mortgage approval as many banks will only let once the value of the property is over a certain level. This is to give themselves protection from a further drop in prices. Again, while not wanting to appear negative, it is unlikely you will be approved for a loan either as you are only recently self employed & the only security you would appear have to offer would be the property itself which could not be considered suitable by the majority of bank's IMO. If you cannot raise the finance, then you cannot go any further.

(2) Talk to a solicitor now. Given the downturn in their industry, many will happily give you an initial consultuation without charge as it gives them the opportunity for future business. Be prepared & get the most of of this meeting, bring pictures, maps, references to planning etc in order to maximise the info. you can get from the solicitor for free.

(3) Try telling the seller that while you are interested but that before you could make him any offer, you would need to have a structural survey carried out on the property. Ask him to cover the cost of same. As it is unlikely that he will have any other real interest, he may be willing to do so. Tell him this is non negotiatable & that without it he'll have no offer at all.

(4) Bring someone else, preferably someone with more knowledge of property, building, construction etc than youself (no offence). It would also help if this person what a straight taker & good negotiation skills. This will give the vendor the impression you are serious and it is also important that you have someone else see the property & give an independent assessment of it. Your own opinion may be biased given it suits your needs for now.

You must also do you really want to give up your potential First time buyers status for this. When you eventually buyer your family home, you will have to pay tax & banks charge a higher rate for borrowers other than First Time Buyers?

Finally, would you consider buying a mobile home instead? If you take a look online, there are plenty of luxury ones, significantly cheaper, more comfortable & spacious etc than what you are considering buying.

lisasimps

Sound Bite wrote: »

OP, yes I think you're mad but if you're serious about pursuing this my advise to you is.....

(1) Seek approval of loan facility. It is extremely unlike that you will be able to get mortgage approval as many banks will only let once the value of the property is over a certain level. This is to give themselves protection from a further drop in prices. Again, while not wanting to appear negative, it is unlikely you will be approved for a loan either as you are only recently self employed & the only security you would appear have to offer would be the property itself which could not be considered suitable by the majority of bank's IMO. If you cannot raise the finance, then you cannot go any further.

(2) Talk to a solicitor now. Given the downturn in their industry, many will happily give you an initial consultuation without charge as it gives them the opportunity for future business. Be prepared & get the most of of this meeting, bring pictures, maps, references to planning etc in order to maximise the info. you can get from the solicitor for free.

(3) Try telling the seller that while you are interested but that before you could make him any offer, you would need to have a structural survey carried out on the property. Ask him to cover the cost of same. As it is unlikely that he will have any other real interest, he may be willing to do so. Tell him this is non negotiatable & that without it he'll have no offer at all.

(4) Bring someone else, preferably someone with more knowledge of property, building, construction etc than youself (no offence). It would also help if this person what a straight taker & good negotiation skills. This will give the vendor the impression you are serious and it is also important that you have someone else see the property & give an independent assessment of it. Your own opinion may be biased given it suits your needs for now.

You must also do you really want to give up your potential First time buyers status for this. When you eventually buyer your family home, you will have to pay tax & banks charge a higher rate for borrowers other than First Time Buyers?

Finally, would you consider buying a mobile home instead? If you take a look online, there are plenty of luxury ones, significantly cheaper, more comfortable & spacious etc than what you are considering buying.

Great advice, thanks a million, if I do go ahead i'll be following all those steps, but i've been forced to take off my rose tinted glasses by all the advice here! I'll still go view it, but I won't be so keen to jump in head first now!

Regarding the mobile home, I wouldnt have any land to put it on or secure garden for the dogs, but interesting idea!

jmayo

lisasimps wrote: »

...
Your all being very helpful suggesting other properties for sale etc. but to be honest I wouldnt be able to afford them, and this place took my fancy because I thought i could get it for 45-50,ooo. But now that people are saying its worth less, it makes it more appealing!!!!!

Im taking everyones advice on board though, dont think im one of those posters who looks for advice even though they are not going to take it!!

Oh dear God please do not pay anything like 45-50 for it.
It is not worth anything near that.
There is a reason why people value it at best 20, although I would value it at less.
It is tiny, acess is cr**, you cannot extend, you are tied to another house in a bad way.

I have never seen anything like this being sold as separate entity, because to me this is just a garage conversion type job that is usually used by member of family in attached house or rented as bedsit for student(s).
And down the road that will most likely be only rental market you might get to rent it.

You may have major issues regarding sewage, water connection, ESB.
If next door ever start doing work on their house and you are connected through them then your property (:D) suffers big time.
I would bet you are connected to the same mains water link and are just an offshoot off the house.

Title can be a sticky one, becasue they have to subdivide the existing plot.
It would be very important to get the exact measurements to the inch (especially since inches would matter in this case), otherwise you could discover you only own half of your driveway and you are held to hostage someday.

Also someone can correct me on this, but I didn't think you need planning permission if it was under 40 sq meters ?

If they say it is under that size, then the measurements would need to be checked to ensure it was REALLY under that, otherwise it was in contravention of planning regs.

Anyway my advice once again is forget it.
It is can of worms and sooner or later you will find out you are living in a sardine can that you are stuck paying a mortgage on.

Ortiz wrote: »

Ya that's fair enough.

OP it really does sound like you're taking some advice on board. Just make sure you cover all the bases. Issues like title and pp will need to be looked into. If you seek all advice and still want to buy the property put in a cheeky offer and see what reaction you get.

Another thing to check out is the roof. It's hard to see but it looks like a flat roof - As far as I know these types of roofs tend to have a lot of issues about 15 years after construction.

The more I look at the property the less I think it's worth tbh

My parents have two flat roof sections on old house and both had to have the felt roof replaced, one after about 20 years and the other after about 15.
It is a cost that OP will have down the road.

The_Conductor

Guys- how many times do I have to issue blanket warnings to posters in this forum.

If you disagree with what someone else posts- refute it factually- or use the report post function to bring it to the attention of moderators. Do not personalise your posts.

Regards,

SMcCarrick

Ortiz

OP take a look:

http://examiner.ie/ireland/room-for-improvement-on-price-of-euro70k-little-house-130088.html

The_Conductor

Ortiz wrote: »

OP take a look:

http://examiner.ie/ireland/room-for-improvement-on-price-of-euro70k-little-house-130088.html

Nice find Ortiz!

lisasimps

ha ha that was quick, I wonder did that piece come out of the interest in this thread???

If there is more interest in it, there's going to be less of a chance of them accepting a rock bottom offer?

iguana

jmayo wrote: »

Also someone can correct me on this, but I didn't think you need planning permission if it was under 40 sq meters ?

As long as there was an existing garage that was converted it doesn't need planning permission as an extension. There must also be no other extension to the property as the 40sq m is all that's allowed in total.

However any sub-division of the property, including "granny-flats" requires permission. This "property" has no right to exist even as an addition to the main house. The owners certainly have no right to sell it.

The_Conductor

iguana wrote: »

As long as there was an existing garage that was converted it doesn't need planning permission as an extension. There must also be no other extension to the property as the 40sq m is all that's allowed in total.

However any sub-division of the property, including "granny-flats" requires permission. This "property" has no right to exist even as an addition to the main house. The owners certainly have no right to sell it.

The original owners who subdivided the property- subsequently sold the main residence, keeping this unit as a rental property- so I don't know where anyone would stand with it (from a planning perspective). I would be highly worried about the rights the owner of the main residence may try to assert on this development.

iguana

smccarrick wrote: »

The original owners who subdivided the property- subsequently sold the main residence, keeping this unit as a rental property- so I don't know where anyone would stand with it (from a planning perspective). I would be highly worried about the rights the owner of the main residence may try to assert on this development.

What an utter mess!:eek:

oceanclub

lisasimps wrote: »

ha ha that was quick, I wonder did that piece come out of the interest in this thread???

If there is more interest in it, there's going to be less of a chance of them accepting a rock bottom offer?

Of the asking price, Mr Sullivan says the property will probably sell "for a bit less than that".

Even the auctioneer thinks the price is ludicrous. Says it all really.

P.

imitation

Ortiz wrote: »

OP take a look:

http://examiner.ie/ireland/room-for-improvement-on-price-of-euro70k-little-house-130088.html

I was looking at that today, I wonder was the columnist surfing boards.ie.

Gone West

Yeah, lots of LAZY journos read boards, and rehash stuff here as news.
"mews" indeed. Its worth maybe 35k at a push if the location was indeed decent.

Some fools still don´t like renting and will buy these days.
House prices have a long way to go yet.

Sound Bite

OP, Did you go look at this yet? Still thinking of buying?

beeno67

jmayo wrote: »

Oh dear God please do not pay anything like 45-50 for it.

It is tiny, acess is cr**, you cannot extend, you are tied to another house in a bad way.

.

The access is another point (along with the multitude of other problems). The sellers are including the sofa. Why? Because they will find it next to impossible to get the sofa out. You will need to buy a flat screen TV as there is no way you will get another TV down that alley:).

lisasimps

there's no couch?

Access would have to be through the next door property / their garden and through the fence which can be opened.

Im probably going to rent for 6 months and then see if it's still available, and have another think then.

Thanks for the advice everyone.

dory

It seems to be all the rage in Cork to sell your garden. Another one here, minus the finished product (the actual house) but still with a nice big price tag.

http://www.daft.ie/searchsale.daft?id=515588

Sorry to bump the thread, I just thought it was interesting.

The_Conductor

dory wrote: »

It seems to be all the rage in Cork to sell your garden. Another one here, minus the finished product (the actual house) but still with a nice big price tag.

http://www.daft.ie/searchsale.daft?id=515588

Sorry to bump the thread, I just thought it was interesting.

I had a good laugh when I saw the name of the agent who placed the add.......