Currently buying/selling a house? How is it going? READ MOD NOTE POST #1

Canyon86

cnocbui wrote: »

Nothing you can do but hope and wait. They don't have to sign the contract.

very frustrating process,

chicorytip

Whatdoyoumean wrote: »

Does anybody have any experience waiting on funds to be cleared? Our solicitor transferred the funds to the vendors solicitor at the end of last week, they have received them but waiting for them to be cleared.

What does this mean in practice and how long does this generally take?

Yes, in my case (selling). Contracts signed but a two week delay in clearing funds due to the purchaser paying with a cheque drawn on the wrong account, an account not in her own name but that of her husband. So, the money has to be re-lodged. Seven working days is the average clearing time and cheques, apparently, are still the most common payment method used for property transactions.

ElitesTeam

So I am going to complete my purchase on the 25th of this month. Got my balance and the LPT is €300. I checked revenue and its €495 a year. I would have thought the seller would have to it for this year or at least the majority?

brisan

ElitesTeam wrote: »

So I am going to complete my purchase on the 25th of this month. Got my balance and the LPT is €300. I checked revenue and its €495 a year. I would have thought the seller would have to it for this year or at least the majority?

https://www.revenue.ie/en/property/local-property-tax/is-your-property-liable-lpt/what-are-the-key-dates-for-lpt.aspx

All depends who owns the property on the 1st November
I am surprised your solicitor has not flagged this

Canyon86

Sellers are signing the final contract tomorrow, I will get a date for the keys then shortly

Im massively excited!!

cubatahavana

Congrats!!!!

Glory83

So a new update my solicitor promised to refund me back 50% of the advanced payment that I had paid him to work on my potential house purchase that fell through. However, I haven't heard from him in 2 weeks now despite the reminders. And yes no refund yet. Called him today and my call went to his answer machine. But sure no call back yet. A reminder to be cautious about 56 Castlewood in Little Island and do not waste your money if they are not willing to furnish a certified copy of the instrument document of the title.

brisan

missmed wrote: »

We’ve gone sale agreed on a house just over a month at this stage. During bidding it appeared that the seller was in a huge rush to sell as quickly as possible. We expected the sale to move fast based on their urgency and we’re ready to go. Ever since the vendors solicitor keeps saying he'll issue contacts next week and it still hasnt happened. They don’t have their paperwork ready and there are some issues involved that we weren’t aware of. We bid considering we would be in the house soon enough but now we don’t think that’s the case. Can we renegotiate down just a little bit considering the unexpected delays or would that put us in a vulnerable position? We would be matching the offer before us.

It’s up to you but to me it would be bad form
A deal is a deal
You agreed the price
How would you feel if the vendor came back looking for more
If you find issues with the property during a survey fair enough but otherwise no

squareboy007

Cash_Q wrote: »

That's really helpful, thank you!

For what its worth for anyone reading, here is our timeline for both sale/purchase as second time buyers

Sale:
House on market 2nd July
Sale agreed 5th August
Contracts signed our end 25th September
Keys handed over and sale closed 13th October (original closing date of 2nd October delayed by slow drawdown of funds, buyer financed by PTSB)

Purchase:
House on market 10th July
Sale agreed 30th July
Contracts signed our end 25th September, their end somewhere between 2nd and 13th October
Awaiting grant of probate...

We had the advantage of buying through the same estate agent that was selling our house so they accepted our offer before we had accepted one on our own house.

Rang the probate office again this morning. Message updated to say 8 to 10 weeks

Sweet.Science

Signed for our sale yesterday . Closing in 3 weeks. Am i missing anything i needed to sort beforehand

* Pay LPT for 2021
* Notify electricity co, broadband, bins , home insurance , mortgage protection

Im sure there is more

brisan

Sweet.Science wrote: »

Signed for our sale yesterday . Closing in 3 weeks. Am i missing anything i needed to sort beforehand

* Pay LPT for 2021
* Notify electricity co, broadband, bins , home insurance , mortgage protection

Im sure there is more

Seemingly LPT is pro rata so you won’t have to pay the full amount
Check with your solicitor before you pay it

Sweet.Science

brisan wrote: »

Seemingly LPT is pro rata so you won’t have to pay the full amount
Check with your solicitor before you pay it

Apparently i do. As i was the owner on Nov 1st. He says it was in the contract to be reimbursed by the buyer though

cubatahavana

Sweet.Science wrote: »

Signed for our sale yesterday . Closing in 3 weeks. Am i missing anything i needed to sort beforehand

* Pay LPT for 2021
* Notify electricity co, broadband, bins , home insurance , mortgage protection

Im sure there is more

Interested on this too.

Sesame

cubatahavana wrote: »

Interested on this too.

Me too, but presumably none of those things can be done until completion? I'd love to get the electricity signed over and broadband setup but still awaiting completion

Cash_Q

squareboy007 wrote:

Rang the probate office again this morning. Message updated to say 8 to 10 weeks

Ah crap. Thanks for sharing

cubatahavana

Went to see new build today after signing contracts. Was told to expect to move in by 5th of december. It's getting near!

kravmaga

ElitesTeam wrote: »

So I am going to complete my purchase on the 25th of this month. Got my balance and the LPT is €300. I checked revenue and its €495 a year. I would have thought the seller would have to it for this year or at least the majority?

Good point to make, I rang Revenue today on this very matter as Im Sale Agreed on a property I own, I got my LPT for 2021. Revenue stated that whoever is in the property on 1st November has to pay for the next years LPT.

So as Im not Sold yet I have to pay the LPT for 2021 for the property I am selling.

I hope this helps and clarifies the matter, your seller should have paid the LPT on the property you are buying.

CarMc

Sweet.Science wrote: »

Signed for our sale yesterday . Closing in 3 weeks. Am i missing anything i needed to sort beforehand

* Pay LPT for 2021
* Notify electricity co, broadband, bins , home insurance , mortgage protection

Im sure there is more

Not sure if new build or second hand?

For drawdown you just have to have home insurance & mortgage protection in place, get it activated a day or two before so if it's delayed it's still in place on drawdown day.

For electricity & gas you take a meter reading when you move in and then sign up with a provider and submit the reading. You will need the MPRN & GPRN numbers of the property, you have to call Gas Networks Ireland and ESB Networks to get this.

Same with bins - call them to set up an account. I just moved recently and waited until I moved in to sign up with bin company and it took over a week for them to set up account and deliver the bins so if you can get that in place asap as the bins fill up quickly when you first move in!

For broadband - depending on area it's quick. I rang Sky for home move but they couldn't find the broadband line in the house. Spent 4 days with them trying and finally rang Virgin and had broadband kit delivered the next day.

Starlord_01

Sale Agreed

Went sale agreed yesterday, paid the booking deposit this morning, appointed the solicitor and informed the bank.

How long should we expect the process to take from here on?

Starlord_01

Starlord_01 wrote: »

Sale Agreed

Went sale agreed yesterday, paid the booking deposit this morning, appointed the solicitor and informed the bank.

How long should we expect the process to take from here on?

Congrats! I'm in the same boat as you and went sale agreed last week.

I think the whole process depends on many different factors and there's no real set time frame. Have a good chat with the estate agent about where the sellers are at and how long they think it might take, and talk to your solicitor. They'll give you the best answers.

mimimcmc

Starlord_01 wrote: »

Sale Agreed

Went sale agreed yesterday, paid the booking deposit this morning, appointed the solicitor and informed the bank.

How long should we expect the process to take from here on?

Ridgerun wrote: »

Congrats! I'm in the same boat as you and went sale agreed last week.

I think the whole process depends on many different factors and there's no real set time frame. Have a good chat with your estate agent about where the sellers are at and how long they think it might take, and talk to your solicitor. They'll give you the best answers.

Exactly, so many factors, at best you're looking at 6-8 weeks but considering 8 weeks is christmas time, I can't imagine you being in by then. Look to January, all going well.

Have been sale agreed ourselves for 15 weeks now, but there was an issue with the engineers report and the sellers are struggling to get builder in - they said it would be 4 weeks, now we're told 6. I can't imagine we'll be in by Christmas so hoping January

Draco

Draco wrote: »

Finally signing for both tomorrow. It's been a painful process with huge delays caused by the bank waiting for responses from them. Everyone is highly strung and stressed.

Well that was a nope. Signed for the house I'm buying, only signed for the apartment I'm selling yesterday. Looking at closing the apartment on the 16th and the house the same week.

At least I'm nearly there.

Starlord_01

Ridgerun wrote: »

Congrats! I'm in the same boat as you and went sale agreed last week.

I think the whole process depends on many different factors and there's no real set time frame. Have a good chat with your estate agent about where the sellers are at and how long they think it might take, and talk to your solicitor. They'll give you the best answers.

Congrats to you too - heart in mouth paying the booking deposit this morning.

mimimcmc wrote: »

Exactly, so many factors, at best you're looking at 6-8 weeks but considering 8 weeks is christmas time, I can't imagine you being in by then. Look to January, all going well.

Have been sale agreed ourselves for 15 weeks now, but there was an issue with the engineers report and the sellers are struggling to get builder in - they said it would be 4 weeks, now we're told 6. I can't imagine we'll be in by Christmas so hoping January

8-10 weeks would probably suit perfectly, don't want to rush into it either.

Oh no that sounds like nightmare Hopefully you can get things sorted.

cubatahavana

Starlord_01 wrote: »

Sale Agreed

Went sale agreed yesterday, paid the booking deposit this morning, appointed the solicitor and informed the bank.

How long should we expect the process to take from here on?

Forever!

optogirl

Feeling very deflated about the whole thing - getting outbid everywhere. Resigned to now having to move, with the kids, into a kip and do it up (very slowly because all of our savings from the past 10 years will be gone on deposit)

Sweet.Science

optogirl wrote: »

Feeling very deflated about the whole thing - getting outbid everywhere. Resigned to now having to move, with the kids, into a kip and do it up (very slowly because all of our savings from the past 10 years will be gone on deposit)

Can i just ask where about you're looking. Found it easier this time round (than 4 years ago) . Sale agreed for 10k under asking. Probably all depends on location

optogirl

Sweet.Science wrote: »

Can i just ask where about you're looking. Found it easier this time round (than 4 years ago) . Sale agreed for 10k under asking. Probably all depends on location

Dublin 7 is preference (kids in school here, family & babysitters on tap nearby)

Sweet.Science

optogirl wrote: »

Dublin 7 is preference (kids in school here, family & babysitters on tap nearby)

Ah ok . Went to school there myself actually . Really exploded in demand the last 5 years or so. You never know you might be in the right place at the right time when another house comes along.

I moved again because the cost of renovating was so high . Just something to keep in mind .

optogirl

optogirl wrote: »

Dublin 7 is preference (kids in school here, family & babysitters on tap nearby)

I think you have to be willing to do the work, Dublin 7 in particular is old stock, anything already modernised can charge a premium.
I'm looking in the area myself, the small houses I want are too small & expensive, the bigger family homes need work & are expensive!

Claw Hammer

brisan wrote: »

https://www.revenue.ie/en/property/local-property-tax/is-your-property-liable-lpt/what-are-the-key-dates-for-lpt.aspx

All depends who owns the property on the 1st November
I am surprised your solicitor has not flagged this

As far as the Revenue are concerned the owner on 1st November is the liable person. LPT is also a charge on the property and the purchasers solicitor will always demand to see all the receipts for LTP before closing. Almost invariably, the solicitor for the vendor will insert a clause in the contracts apportion the liability pro rata for the year according to who was in possession during the year.
The purchaser could refuse to accept the clause but most won't as a few hundred euro is not worth breaking the deal over.