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House hunting Douglas.

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    #32
    CHealy
    Registered Users Posts: 1,800 ✭✭✭CHealy


    Lekrub wrote: »
    Nice one, I'm more or less in the same situation. Just got to the sale agreed stage. Did you get an pre sale inspection? (not the valuation for the bank).

    I got an engineer to check the house over. I mainly wanted to find out for subsidence since I heard so much about it and even saw some ads on daft saying their houses were already underpinned.

    He done the inspection and sent a long report but it basically says he can only vouch for visual aspects and yea everything is fine. He didn't check the gas boiler or heating system, or electrics, or drains, or much else. And as far as subsidence goes he can't help you should insurance companies.

    I feel like a car get's a more thorough check than a house. Any of these jump up for you?

    Ya we are after getting three engineers out, its an old house built in the 40's so I wanted to be triple sure but these house are better built than the ones today. Cost me an arm but for piece of mind it was well worth it because they all came back to me with pretty much the same report and all is ok. But as you said, they didnt go in there with diggers to check drains or anything so thats always a risk after the buy.


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    #33
    Lekrub
    Closed Accounts Posts: 418 ✭✭Lekrub


    CHealy wrote: »
    Ya we are after getting three engineers out, its an old house built in the 40's so I wanted to be triple sure but these house are better built than the ones today. Cost me an arm but for piece of mind it was well worth it because they all came back to me with pretty much the same report and all is ok. But as you said, they didnt go in there with diggers to check drains or anything so thats always a risk after the buy.

    I'd imagine, I was a bit sickened paying the fee when the likes of the heating system/boiler wasnt included but small money vs the house cost so well worth it. Good to hear someone else's feedback. Best of luck with the house.

    If it's use to anyone too, I checked and a couple of companies including Allianz for subsidence cover and they wouldn't cover anywhere in Cork city or close surrounds cos of flooding and subsidence issues. FDB and aviva do no bother though. I'm sure a local broker would do a decent job of this too.


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    #34
    liamjames1
    Registered Users Posts: 63 ✭✭liamjames1


    liamjames1 wrote: »
    Just for interest I am putting this up here.

    http://www.daft.ie/cork/houses-for-sale/frankfield/185-west-avenue-park-gate-frankfield-cork-1416670/

    A similar property (I can't see the difference from what is available) a couple of doors down closed on the property price register for €320k and another one for €300k in the last 2 months so wondering why this has gone up for €240k.

    I will update this after it closes to see actual selling price just for our reference.


    Sale agreed at €325. Shock horror :mad:


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    #35
    Lekrub
    Closed Accounts Posts: 418 ✭✭Lekrub


    liamjames1 wrote: »
    Sale agreed at €325. Shock horror :mad:

    €240 -> €325? That's crazy.


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    #36
    theboringfox
    Registered Users Posts: 544 ✭✭✭theboringfox


    liamjames1 wrote: »
    Sale agreed at €325. Shock horror :mad:

    It's funny how the market finds its price. Still seems odd to set the price that low so I'd still wonder that maybe it was not as good as those others. I get concept of setting low asking but that seems too low...though it seems to have worked


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    #37
    liamjames1
    Registered Users Posts: 63 ✭✭liamjames1


    theboringfox wrote: »
    It's funny how the market finds its price. Still seems odd to set the price that low so I'd still wonder that maybe it was not as good as those others. I get concept of setting low asking but that seems too low...though it seems to have worked

    Like most markets there will always be some buyers slightly better educated than others which drags prices to market rate at that point in time.

    Just find it ridiculous that a company would consistently price properties so far below market and waste people's time to get the 2/3 real contenders in the door.


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    #38
    Ludo
    Registered Users Posts: 5,015 ✭✭✭Ludo


    liamjames1 wrote: »
    Just find it ridiculous that a company would consistently price properties so far below market and waste people's time to get the 2/3 real contenders in the door.


    Looks like they are doing a pretty good job to me to be honest. Their job involves getting best price for seller which they seem to be doing. I really don't see the issue.


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    #39
    Balmed Out
    Registered Users Posts: 4,716 ✭✭✭Balmed Out


    liamjames1 wrote: »
    Like most markets there will always be some buyers slightly better educated than others which drags prices to market rate at that point in time.

    Just find it ridiculous that a company would consistently price properties so far below market and waste people's time to get the 2/3 real contenders in the door.

    The more bids, the more emotive, the more emotions the more people are willing to bid. Just set your max tell the estate agent you're interested and to come back to you with final bids.
    What put me off a few times until I decided to do the same myself is to come in at the very end when bidding is creeping up and bid a good bit more in the hope of scaring the others off.


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    #40
    Mumha
    Registered Users Posts: 1,245 ✭✭✭Mumha


    Lekrub wrote: »
    €240 -> €325? That's crazy.

    I would suggest it was ridiculous to put it on at 240K, it was worth way more than that. We bought my MIL's house in the Lough for 240K, and we are going to have to spend 50/60 upgrading it.


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    #41
    Dbu
    Registered Users Posts: 1,089 ✭✭✭Dbu


    Thats a crazy price for a house, that in my opinion is not even in Douglas. Its a fair walk from Douglas village to there.


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    #42
    CZ 453
    Registered Users Posts: 1,731 ✭✭✭CZ 453


    Only seen this thread now. Lived in Shamrock Lawn for about 3 years. Nice area.

    The parking around the school is a nightmare as is the morning traffic. Our place was robbed(burgled) there as was our neighbours and many other houses on the same night.


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    #43
    D'Agger
    Registered Users Posts: 13,385 ✭✭✭✭D'Agger


    liamjames1 wrote: »
    Like most markets there will always be some buyers slightly better educated than others which drags prices to market rate at that point in time.

    Just find it ridiculous that a company would consistently price properties so far below market and waste people's time to get the 2/3 real contenders in the door.
    Ludo wrote: »
    Looks like they are doing a pretty good job to me to be honest. Their job involves getting best price for seller which they seem to be doing. I really don't see the issue.

    Cork, for property agents, is like Florida for Tony Montana in Scarface right now.

    For example - Jacobs Island, an apartment went up recently for 185k, which is well below market but it drummed up huge interest. Went down there to see it and knew that you'd have to throw your full spend at it the next day based on their tactic of having the place mobbed. Rang up and sure enough, the current offer was 235k the next day.

    They're doing their job but again, we're seeing another property bubble which is growing based off of pure and utter greed. People want the max they can get for their property sale and given the lack of supply in Cork they're able to with property agents all too willing to push that agenda in order to secure bonus & commission.


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    #44
    grogi
    Registered Users Posts: 8,615 ✭✭✭grogi


    D'Agger wrote: »
    They're doing their job but again, we're seeing another property bubble which is growing based off of pure and utter greed. People want the max they can get for their property sale and given the lack of supply in Cork they're able to with property agents all too willing to push that agenda in order to secure bonus & commission.

    I want to see how you don't want to get what your property is worth...


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    #45
    D'Agger
    Registered Users Posts: 13,385 ✭✭✭✭D'Agger


    grogi wrote: »
    I want to see how you don't want to get what your property is worth...
    I'm saying what the property is worth is being driven upwards repeatedly which is creating a crazy market in Cork right now. I'm not saying people should sell for less - the lack of supply in relation to demand is causing this imo


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    #46
    theboringfox
    Registered Users Posts: 544 ✭✭✭theboringfox


    grogi wrote: »
    I want to see how you don't want to get what your property is worth...

    Yep. Agent's job is to maximise price. Prospective purchasing party can buy or walk away. The CB rules mean likelihood of bubble much lower. Saying that I would be slow to borrow up to 3.5x. We went to 2.0x excluding any bonuses. I am in a plain 1000sq ft 3 bed semi. Could have bought much nicer home but chose not to. That may not be the right decision. I am just a conservative person. The old rules in our parents time were 2x first salary plus 1x second salary. So we are still above that. Rules pushed up when rates of borrowing fell.

    Agent does his job to maximise price and people need to assess own affordability. I am a little fearful that people are treating maximum permitted loan amounts by LTV and income multiples as a guideline on how much to borrow. As in if Central Bank says I can borrow this much then it is all good!


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    #47
    Lekrub
    Closed Accounts Posts: 418 ✭✭Lekrub


    Did anyone view this property in Donnybrook? I viewed it and it's very nice. 'd be interested to find out what the final sale price was. It went quickly, after 1 week I think.

    http://www.daft.ie/cork/houses-for-sale/donnybrook/13-daneswood-montpellier-road-donnybrook-cork-1450719/


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    #48
    run_Forrest_run
    Registered Users Posts: 6,433 ✭✭✭run_Forrest_run


    Lekrub wrote: »
    Did anyone view this property in Donnybrook? I viewed it and it's very nice. 'd be interested to find out what the final sale price was. It went quickly, after 1 week I think.

    http://www.daft.ie/cork/houses-for-sale/donnybrook/13-daneswood-montpellier-road-donnybrook-cork-1450719/

    says Sale Agreed so the sale may not have gone through yet. You can however always consult the Property Price Register for all sale prices.


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    #49
    Lekrub
    Closed Accounts Posts: 418 ✭✭Lekrub


    run_Forrest_run wrote: »
    says Sale Agreed so the sale may not have gone through yet. You can however always consult the Property Price Register for all sale prices.

    Thanks but property price register isnt usually updated to around 6 months after the keys are exchanged, (I think).


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    #50
    Malari
    Registered Users Posts: 18,150 ✭✭✭✭Malari


    Lekrub wrote: »
    Thanks but property price register isnt usually updated to around 6 months after the keys are exchanged, (I think).

    In my experience it's a lot quicker than that - maybe a few weeks.


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    #51
    grogi
    Registered Users Posts: 8,615 ✭✭✭grogi


    Malari wrote: »
    In my experience it's a lot quicker than that - maybe a few weeks.

    Yes, few weeks from Sold, not Sale Agreed.


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    #52
    Malari
    Registered Users Posts: 18,150 ✭✭✭✭Malari


    grogi wrote: »
    Yes, few weeks from Sold, not Sale Agreed.

    Sure, a few weeks from exchange of keys, in other words the sell date, generally.


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