Buying a house 2013!

claregal

I went to Sale Agreed on a house in Ennis on the 29th May and got the keys on August 14th which wasn't too bad, the only thing is that I had to keep on top of our solicitor as I wasn't getting updates regarding progress, once I dropped an email once or twice a week and followed up with a phone call the process moved along at an acceptable pace (even though I felt like a pest!).

quad_red

After going sale agreed in early May, the process still drags on. We signed the contracts at the end of July and stilll are waiting for them to wrap things up on their side.

One broken target date after another.

gmisk

I know how you feel believe me....sale agreed end of feb......beyond frustrating.....

highgiant1985

Latest: viewing property today which I really like with intention on making a bid :P. I'm just trying to work out what to bid now!

Got mortage approval previously for similar property but that house I was looking at then fell through so have to restart that process again but have been told no problem with getting approval again for this house I'm after (have a 20% deposit and its borrowing 2.5 times my annual salary assuming price as per full asking).

spaceHopper

highgiant1985 wrote: »

Latest: viewing property today which I really like with intention on making a bid :P. I'm just trying to work out what to bid now!

Got mortage approval previously for similar property but that house I was looking at then fell through so have to restart that process again but have been told no problem with getting approval again for this house I'm after (have a 20% deposit and its borrowing 2.5 times my annual salary assuming price as per full asking).

You're buying a home not investing in property so forget about price increases.

Work out what asking - 20 K to asking + 20K in 2 or 5k steps would cost you in mortgage payments.

Check the Price register and see what similar house sold for.

If it's more than 30 years old expect to insulate, rewire, heating upgrades and replaster it.

Once you've all those figures you'll know what it's worth to you.

Play on the fact that,
1) Winter is coming and it's harder to sell houses in winter.

2) You are ready and willing to close quickly but understand if the seller needs time to find somewhere.

Good luck

quad_red

Finally got confirmation the contracts are signed and being returned. We're under huge pressure in our current rental accommodation and the landlord has (with some considerable negotiation) agreed to let us stay til the 15th of September.

Which gives us three weeks. And this was great news. Until our solicitor just informed us she'll be on leave for the first two weeks of September without cover.

I could f**king scream. Two working days before she goes on leave, she tells us this.

Why why why would she leave it this late?

darklighter

quad_red wrote: »

Finally got confirmation the contracts are signed and being returned. We're under huge pressure in our current rental accommodation and the landlord has (with some considerable negotiation) agreed to let us stay til the 15th of September.

Which gives us three weeks. And this was great news. Until our solicitor just informed us she'll be on leave for the first two weeks of September without cover.

I could f**king scream. Two working days before she goes on leave, she tells us this.

Why why why would she leave it this late?

At least yours told you she was going.

Mine never bothered to say she was swanning off & the sellers are getting itchy feet :mad:

Dortilolma

Yieks - I'm really sorry to hear so many of you have been sale agreed since February and are still waiting on contracts. I was getting antsy after 6 weeks! I feel like such a lightweight!

We're past the 8 week mark of Sale Agreed and closing date hasn't been firmly set but thankfully things seem to be moving along - contracts signed on our end, solicitor has sent off for the loan cheque. I know there is still tonnes that could go wrong to delay the whole thing but fingers crossed we'll be closing soon!

Sunny Dayz

"Think" we should be signing the contracts today. Our solicitor is waiting on the vendors solicitor for ONE thing and then we should be ok. Glued to the mobile here waiting for the call...

*sigh*

cursai

Does a first time buyer buying a second hand house pay Stamp Duty?

gmisk

Yep

cursai

gmisk wrote: »

Yep

Groan. I'm assuming that the land registry fees did in fact change last year too. From €375 to €600 for me.


Just found it. Assuming its accurate. http://www.landregistry.ie/eng/Legal_Professional_Customers/Fees/Summary_of_Land_Registry_Fees_Order_2012.html

david_1888

Hi folks

We are due to ask our solicitor to request draw down of funds from bank in the next day or two, all paperwork etc is in order..

Two questions,

Will/Can the bank ask for anymore paperwork from us or can they pull out for any reason or is it a done deal at this stage?

Roughly how long will it take from the day of the draw down request to the solicitor having the bank draft?

killers1

david_1888 wrote: »

Hi folks

We are due to ask our solicitor to request draw down of funds from bank in the next day or two, all paperwork etc is in order..

Two questions,

Will/Can the bank ask for anymore paperwork from us or can they pull out for any reason or is it a done deal at this stage?

Roughly how long will it take from the day of the draw down request to the solicitor having the bank draft?

That depends on which bank you're borrowing from and whether the only item o/s for cheque issue is your solicitors request for funds. If all other conditions are satisfied the bank will not be looking for any further documentation from you..

quad_red

Folks, we're totally exasperated here.

We're due to close at the end of next week. Our solicitor announced at the last minute last week that she's going on two holidays til the day before the scheduled closing date.

The sellers solicitor and EA have confirmed that the sellers have signed everything they need to (they're abroad) and we're good to go.

But, as with every stage of this process, the sellers solicitor refuses to answer calls/phone messages/emails from our side unless constantly badgered. Our solicitor attempted to confirm the 13th before going on leave with numerous calls, messages and finally an email asking for urgent confirmation (which we were cc'ed on).

Still nothing. We need to know the the closing is locked in to book a moving van etc.

WTF do I do with this guy? He's basically belligerently negligent. I can't call him cos I learned earlier in this thread that a buyer contacting a sellers solicitor directly is a no no.

But we need confirmation or something to go on.

What do I do?

cursai

quad_red wrote: »

Folks, we're totally exasperated here.

We're due to close at the end of next week. Our solicitor announced at the last minute last week that she's going on two holidays til the day before the scheduled closing date.

The sellers solicitor and EA have confirmed that the sellers have signed everything they need to (they're abroad) and we're good to go.

But, as with every stage of this process, the sellers solicitor refuses to answer calls/phone messages/emails from our side unless constantly badgered. Our solicitor attempted to confirm the 13th before going on leave with numerous calls, messages and finally an email asking for urgent confirmation (which we were cc'ed on).

Still nothing. We need to know the the closing is locked in to book a moving van etc.

WTF do I do with this guy? He's basically belligerently negligent. I can't call him cos I learned earlier in this thread that a buyer contacting a sellers solicitor directly is a no no.

But we need confirmation or something to go on.

What do I do?

Wow. How long has the process been?

Dortilolma

quad_red wrote: »

One broken target date after another.

I think this sums up buying a house pretty nicely.

I'm rather fond of our solicitor partly because she won't give us target dates unless she is confident they can be met. It's frustrating at times but I appreciate it when dates given by banks and EA's fly by.

quad_red

cursai wrote: »

Wow. How long has the process been?

Since early May.

It's the uncertainty that's killing us. Three times we've had suggested closing dates. We are promised more information closer to them. Nothing happens. We politely request an update. Ignored. We again ask for an update. Nothing. We have to get insistent, calling them numerous times, emails etc.

Finally, just before the date, they admit that it was never on the cards, that they're missing something and they just ignored all the communications.

So for next week - they proposed that date two weeks agao and said they would confirm it last week. Of course, they never bothered. if we don't get onto them and plague them, there will be no response if something is wrong. They will just let the date come and go.

Or, it could actually happen.

But we have to make ****ing plans.

Dortilolma

quad_red wrote: »

Since early May.

It's the uncertainty that's killing us. Three times we've had suggested closing dates. We are promised more information closer to them. Nothing happens. We politely request an update. Ignored. We again ask for an update. Nothing. We have to get insistent, calling them numerous times, emails etc.

Finally, just before the date, they admit that it was never on the cards, that they're missing something and they just ignored all the communications.

So for next week - they proposed that date two weeks agao and said they would confirm it last week. Of course, they never bothered. if we don't get onto them and plague them, there will be no response if something is wrong. They will just let the date come and go.

Or, it could actually happen.

But we have to make ****ing plans.

That sounds like a nightmare - the lack of communication is one of the most frustrating things about the whole process. It makes it impossible to make plans or decisions around your move.

Best of luck and I hope you do close next Friday! We're hoping for the same closing day!

cursai

quad_red wrote: »

Since early May.

It's the uncertainty that's killing us. Three times we've had suggested closing dates. We are promised more information closer to them. Nothing happens. We politely request an update. Ignored. We again ask for an update. Nothing. We have to get insistent, calling them numerous times, emails etc.

Finally, just before the date, they admit that it was never on the cards, that they're missing something and they just ignored all the communications.

So for next week - they proposed that date two weeks agao and said they would confirm it last week. Of course, they never bothered. if we don't get onto them and plague them, there will be no response if something is wrong. They will just let the date come and go.

Or, it could actually happen.

But we have to make ****ing plans.

You could threaten to pull out. I dont think your deposit would be forfeited if you can prove they are being obstructive. Wonder if you could contact the actual owner of the house. Though i have a feeling theres something else holding the sale back on their side. Has your solicitor found any problems with the deeds etc...

Bigcheeze

quad_red wrote: »

WTF do I do with this guy? He's basically belligerently negligent. I can't call him cos I learned earlier in this thread that a buyer contacting a sellers solicitor directly is a no no.

But we need confirmation or something to go on.

What do I do?

This is where a good EA can be useful. The sellers may not know there's any problem but the EA can guide them to put pressure on the solicitor.

When buying in the past, the EA intervened at our request and the seller drove down to his solicitor and didn't leave until the contracts were sorted. The seller assumed it was our side dragging their heals.

Galmay

Hi,

Wondering if anyone has any advice. I'm quite familiar with the do's and don'ts of buying a second-hand property, having been looking for quite a while. However, I know there are a few developers still trying to flog new builds in estates that were finished a couple of years ago.

The advertised prices are still quite high, and no sales have been made in the past 9 months or so, possibly longer. They have sale prices, as opposed to asking prices, does anyone know if they are open to offers? If that is something people do?

My offer would be considerably less than the advertised price but quite fair I believe. My second question refers to VAT. Does the advertised price include VAT at 13.5%? And if I made an offer would it be presumed to be inclusive of VAT?

Thanks guys, and if ye have any other bits of info that might be useful when considering buying a new build it would be much appreciated!

Sunny Dayz

woohoo, meeting the solicitor this evening. He needs us to sign stuff! I know we are FINALLY going to sign the contract but not sure what else has to be signed, maybe for mortgage drawdown? Went sale agreed start of May

quad_red

Sunny Dayz wrote: »

woohoo, meeting the solicitor this evening. He needs us to sign stuff! I know we are FINALLY going to sign the contract but not sure what else has to be signed, maybe for mortgage drawdown? Went sale agreed start of May

Don't get too excited! We went sale agreed in early May and signed contracts at the end of July.

We're still in limbo.

Forest Demon

So many sellers at the moment are advertising their houses for sale and then only starting the process of negotiating the negative equity or remortgage for selling their properties with the banks. Even messier situations with investors who are in trouble and are trying to sell up. The banks are taking ages to deal with it.

Its a nightmare for buyers at the moment. Everything is no problems until sale agreed and then its painful trying to close the sale. It seems that most who are selling are in distressed situtations.

gmisk

Forest Demon wrote: »

So many sellers at the moment are advertising their houses for sale and then only starting the process of negotiating the negative equity or remortgage for selling their properties. Even messier situations with investors who are in trouble and are trying to sell up.

Its a nightmare for buyers at the moment. Everything is no problems until sale agreed and then its painful trying to close the sale.

Agree 100%

Sunny Dayz

gmisk wrote: »

Agree 100%

+1

Sunny Dayz

quad_red wrote: »

Don't get too excited! We went sale agreed in early May and signed contracts at the end of July.

We're still in limbo.

Aw thanks, way to bring a girl down...

quad_red

Sunny Dayz wrote: »

Aw thanks, way to bring a girl down...

Keep expectations low, avoid (some) frustration and disappointment.

mel.b

quad_red wrote: »

We're due to close at the end of next week

Dortilolma wrote: »

Best of luck and I hope you do close next Friday! We're hoping for the same closing day!

Good luck and fingers crossed for successful closings Friday next week. I'm due to close on Thurs...my vendor was too superstitious to close on Friday (the 13th!)

I've also been sale agreed since the start of May.