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

what,s the procedure when buying a house

Options
  • 21-05-2015 6:41pm
    #1
    irishivan
    Registered Users Posts: 20 ✭


    hi all,

    ok heres our situation, we,re looking at buying a house to renovate as cash buyers.
    the house in question is a repossession & was on the market at €100000 & is currently bid at €140000 and rising
    we have €45k in the bank cash & have our flat on the market in UK at £330 sterling.
    what I want to know is if we bid on this house & win what,s the procedure of sale. do we need to have the flat sold before our offer is accepted or will the deposit be acceptable until completion? or will a letter from our solicitor showing proof our UK flat is on the market & the equity in it will cover the bill?

    any advice would be great.
    thanks
    ivan


Comments

  • Options
    #2
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,416 Mod ✭✭✭✭Gumbo


    Deposit will secure the house but you will need to close within a specified timeframe.

    You are in a chain and the estate agent may accept an offer from somebody that is not even if it's slightly lower than your offer.

    You would be classed as a riskier sale.


  • Options
    #3
    irishivan
    Registered Users Posts: 20 ✭irishivan


    cheers for the reply.
    I know its a broad question but what would a specific time frame be? as the house is now owned by the receivers & they generally take their time completing. is it at the estates discretion to judge who is a risky buyer or the sellers?


  • Options
    #4
    Gumbo
    Moderators, Society & Culture Moderators Posts: 39,416 Mod ✭✭✭✭Gumbo


    irishivan wrote: »
    cheers for the reply.
    I know its a broad question but what would a specific time frame be? as the house is now owned by the receivers & they generally take their time completing. is it at the estates discretion to judge who is a risky buyer or the sellers?

    Took us 2 months recently but we stalled them for a week or two waiting for stuff. Ours was a forced sale too by the previous owner just on the verge of receivership.


Advertisement