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
Hi all! We have been experiencing an issue on site where threads have been missing the latest postings. The platform host Vanilla are working on this issue. A workaround that has been used by some is to navigate back from 1 to 10+ pages to re-sync the thread and this will then show the latest posts. Thanks, Mike.
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Buying a property from a bank

  • 10-12-2017 9:58pm
    #1
    lucinovzr
    Registered Users Posts: 8 ✭


    Hi guys,
    Im currently a homeowner interested in a derelict property that is next to me.
    After a bit of digging I have found out it belongs to ulster bank (but recently promontoria Aran took interest in the property) according to the folio. ?

    With regards to looking to possibly open up a purchase what would be my next step??
    Anybody any experience with similar situation.
    I'm also a bit wary with the recent change in the folio as stated above as the property itself hasn't been lived in circa15 years and is virtually uninhabitable.

    Thanks


Comments

  • #2
    LondonR
    Registered Users Posts: 8 ✭LondonR


    Hi I'm in a similar(ish) situation and would love a bit of advice.

    I've put in an offer on a house that is under the recievership of Promontoria Oyster (reciever for Ulster Bank Ireland). I put in an offer with the auctioneer 17 days ago and I still haven't heard anything. The auctioneer, who seems to be incapable of returning my phone calls, told me 11 days ago that the banks meet on a Friday at 12:00 to approve these offers. It would appear that they didn't get around to discussing my property at the last two meetings as I haven't heard anything back.

    I'm not a very patient person, and I believe that 'the banks' are not thing....there's me, who talks to the auctioneer Robert, who talks to a person in Promontoria Oyster, who talks to a person in the bank. I see it as just four individuals.

    If I get a contact in Promontoria Oyster and call them myself to try and push things along is this a bad idea?
    Is the auctioneer legally obliged to give me a contact for the 'seller' (in this case reciever Promontoria Oyster) if I ask them?

    I've considered putting a time limit on my bid to try and push things along, but I don't want to cut off my nose to spite my face.

    Advice would be massively appreciated!


  • #3
    Metric Tensor
    Registered Users, Registered Users 2 Posts: 3,725 ✭✭✭Metric Tensor


    The person who makes these decisions in the "bank" couldn't give a sh!t. They get paid at the end of the week regardless of whether you buy the house or not. If you pull out your bid the only people hurt are you and possibly the auctioneer if he's on a cut.

    Keep the pressure on the auctioneer but when you are buying a house in this way it will be slow and painful and it will just get worse if your offer is accepted because paperwork will be missing and incorrect. If you're not a patient person the only people who will suffer are you and your family!


  • #4
    ryanglynn86
    Registered Users Posts: 10 ✭ryanglynn86


    Hi,

    I've been looking for some advice as I am in a similar situation to the above. We had an offer accepted on a property last October. We thought we were dealing with a private seller but it turns out there is a VF involved. We were informed the VF had verbally approved the property to be sold at the price we agreed with the seller. The next step would be for the VF to send out the paperwork/official letter agreeing to the sale. It's now July and we've been waiting for almost 9 months for this piece of paper.

    Our lives are on hold until this gets sorted and it's causing us a lot of stress (we are relocating West from Dublin, so kids' schools, our employment etc is all up in the air).

    Does anybody have any advice for us? Is there a way to force the VF to move quicker? Are we better just to drop the whole thing at this stage?

    Any help much appreciated.


  • #5
    sydthebeat
    Subscribers Posts: 41,863 ✭✭✭✭sydthebeat


    ryanglynn86 wrote: »
    Hi,

    I've been looking for some advice as I am in a similar situation to the above. We had an offer accepted on a property last October. We thought we were dealing with a private seller but it turns out there is a VF involved. We were informed the VF had verbally approved the property to be sold at the price we agreed with the seller. The next step would be for the VF to send out the paperwork/official letter agreeing to the sale. It's now July and we've been waiting for almost 9 months for this piece of paper.

    Our lives are on hold until this gets sorted and it's causing us a lot of stress (we are relocating West from Dublin, so kids' schools, our employment etc is all up in the air).

    Does anybody have any advice for us? Is there a way to force the VF to move quicker? Are we better just to drop the whole thing at this stage?

    Any help much appreciated.

    do you have a solicitor working for you?? if so, they should have all the answers


  • #6
    ryanglynn86
    Registered Users Posts: 10 ✭ryanglynn86


    Yes, he says there's not much we can do - sit and wait or pull out. I guess I'm looking for a second opinion, or some first hand experience.


  • Advertisement
  • #7
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    in this scenario the purchasers solicitor is likely to be every bit as much in the dark.

    If there's an agent involved, it might be worth following up with them (frequently).


  • #8
    ryanglynn86
    Registered Users Posts: 10 ✭ryanglynn86


    Graham wrote: »
    in this scenario the purchasers solicitor is likely to be every bit as much in the dark.

    If there's an agent involved, it might be worth following up with them (frequently).

    The agent seems to be just as in the dark as the rest of us. And he's also since retired and his license has expired, just to complicate matters further


  • #9
    sydthebeat
    Subscribers Posts: 41,863 ✭✭✭✭sydthebeat


    ryanglynn86 wrote: »
    Yes, he says there's not much we can do - sit and wait or pull out. I guess I'm looking for a second opinion, or some first hand experience.

    i wonder has your solicitor requested other documentation that the vendor isnt willing to provide.

    its not at all unusual for a bank or VF not to provide certifications etc on the property .... and if your solicitor has requested these, they may be just ignoring the request.

    youre solicitor should have the ability to make direct contact with the solicitors acting for the vendor.... so they should know what the hold up is.


  • #10
    ryanglynn86
    Registered Users Posts: 10 ✭ryanglynn86


    sydthebeat wrote: »
    i wonder has your solicitor requested other documentation that the vendor isnt willing to provide.

    its not at all unusual for a bank or VF not to provide certifications etc on the property .... and if your solicitor has requested these, they may be just ignoring the request.

    youre solicitor should have the ability to make direct contact with the solicitors acting for the vendor.... so they should know what the hold up is.

    Yea we've conducted our own searches and surveys and contracts have been drawn up between the solicitors.

    I'm told we are literally waiting for somebody in the VF to pick up the piece of paperwork approving the sale, sign it, and send it out.


Advertisement