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Close now or wait for next year

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  • 20-12-2016 3:05pm
    #1
    ironmonkey
    Registered Users Posts: 158 ✭✭


    Hi all we are selling and have a good offer not great but good. Is it the collective wisdom that we should settle now or wait until the first time buyer terms change in January. The down side of this is that there may be houses held back for January and therefore more competition.


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    #2
    morrga
    Registered Users Posts: 553 ✭✭✭morrga


    ironmonkey wrote: »
    Hi all we are selling and have a good offer not great but good. Is it the collective wisdom that we should settle now or wait until the first time buyer terms change in January. The down side of this is that there may be houses held back for January and therefore more competition.

    What first time buyers terms are changing that will impact on your sale?


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    #3
    [Deleted User]
    Posts: 24,714 ✭ [Deleted User]


    morrga wrote: »
    What first time buyers terms are changing that will impact on your sale?

    Exemptions to deposit and ltv rules will likely be more plentiful at the start of the year as most if not all are probably used up by now.


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    #4
    astrofool
    Registered Users Posts: 16,683 ✭✭✭✭astrofool


    morrga wrote: »
    What first time buyers terms are changing that will impact on your sale?

    Deposit rules are now 10% for any houses, not just €200k and below.

    Depends on how long your house has been on far, if it's been a long time, probably better to close and get things going, if it's less than a couple of months, you could probably afford to wait (presuming you haven't gone sale agreed and you're waiting for a gazumper?).


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    #5
    ironmonkey
    Registered Users Posts: 158 ✭✭ironmonkey


    We haven't gone sale agreed. We have an offer which we have rejected. The market has been very quiet in the last month. I'm just wondering if it's common for there to be a bit of a surge of interest in January. Our house is a well presented semi d nothing special but attractive in its way and reasonably priced. Just seeing if anyone here has more insight than I do at this time.


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    #6
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    December and January are traditionally quiet months. Daylight hours are short, weather is bad, people such as solicitors and architects are on holidays. The banks are busy with the Christmas and sales rush so the market only picks up in the Spring. If the market falls, you purchaser will pull out. If it rises you will lose out.


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