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Next steps in buying

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  • 01-02-2019 9:12am
    #1
    mkdon
    Registered Users Posts: 419 ✭✭


    hi

    I have now been confirmed as the highest bidder on a house and have reached a deal

    now what are next steps....


    I am a little confused as interested in another house in same estate that requires less work to be done....

    how can I delay process and when can I pull out if needs be not that I plan to...


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    #2
    PixelTrawler
    Registered Users Posts: 2,299 ✭✭✭PixelTrawler


    Youll put down a fully refundable delosit. You can pull out anytime you wish right up to the minute you are due to sign the contracts and get the keys. As can the seller.

    You can also put down multiple deposits on multiple houses.

    You can delay simply by being slow to respond. The seller might give up on you.

    Its not a nice process buying a house.


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    #3
    theteal
    Registered Users Posts: 7,593 ✭✭✭theteal


    You can pull out anytime you like before you sign the contract.

    Not sure of the Irish process, I think it's normal to pay some form of refundable deposit initially.

    Over here in the UK, you'd now be sale agreed so get yourself a solicitor, no money changes hands (apart from surveys./searches etc) until contract is signed.


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    #4
    mkdon
    Registered Users Posts: 419 ✭✭mkdon


    PixelTrawler wrote: »
    Youll put down a fully refundable delosit. You can pull out anytime you wish right up to the minute you are due to sign the contracts and get the keys. As can the seller.

    You can also put down multiple deposits on multiple houses

    thanks for that but what time frame are we talking that I have to play with here....if pay the deposit today for instance ...

    could I delay it 2 or 3 months before signing contracts....

    I need get a quantity surveyor and valuation from bank right? in that order.....


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    #5
    theteal
    Registered Users Posts: 7,593 ✭✭✭theteal


    mkdon wrote: »
    thanks for that but what time frame are we talking that I have to play with here....if pay the deposit today for instance ...

    could I delay it 2 or 3 months before signing contracts....

    I need get a quantity surveyor and valuation from bank right? in that order.....

    A normal purchase wouldn't be far off taking 2-3 months, you'd not need to do much stalling. Contract signing is right at the end.


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    #6
    PixelTrawler
    Registered Users Posts: 2,299 ✭✭✭PixelTrawler


    mkdon wrote: »
    thanks for that but what time frame are we talking that I have to play with here....if pay the deposit today for instance ...

    could I delay it 2 or 3 months before signing contracts....

    I need get a quantity surveyor and valuation from bank right? in that order.....

    Oh 2-3 months would be fairly normal anyway. Even if you were trying your fastest. Took us roughly 14 weeks from sale agreed to getting the keys.

    Definitely get an engineer to assess the property and a valuation is only a quick visit by an estate agent to verify the price isnt out of whack. An engineer will cost 400 euro ish (well it did in 2013). Youll lose that money if you walk away or the seller does. But I wouldn’t buy without it.

    Oh something you may not realise, you will sign the contracts first, and then the seller does. Even then they can walk. Its not complete til all signatures are there.


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