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

Financesetc.

fisgon wrote: »

I recently found a place I liked and was lucky enough to win a short bidding war. I paid a €5000 deposit to hold the place a month ago.

Since then I have been sorting out things my end - house insurance, mortgage protection etc. The mortgage is approved and ready to go. The thing is that there doesn't seem to be anything happening on the vendor's side - my solicitor is still waiting for contracts to be sent to him, he says.

I am a first time buyer, so this is all new to me, though I am told that this kind of delay is perfectly normal, though I haven't been told why! Anyway, I am anxious to get into the new place before Christmas, am wondering if that is going to happen at this stage.

The EA says that the sale is actually pretty straightforward, but for whatever reason things seem to move at a snail's pace. I have read somewhere that Ireland is the slowest country in the EU for the whole process of buying or selling a house.

Id wait untill after Christmas, don't pin your hopes on trying to get in before Christmas it will only stress you out, take the time to get things organised with all your personal belingings and furniture, bills postal address etc Enjoy your last days in your current living quarters, after all you may be spending the rest of your life in the new home. There will be many more christmases to come.. Take this time to spend your last Christmas in your current home as it will be your last in your current home, cherish the time as you may have built up some fond memories there. And in the new year you can more into your new home. New year, new home, new life, new memories.

cnocbui

Most likely delay is probably the seller running around like a startled rabbit, trying to sort out where they are going to go.

brisan

cnocbui wrote: »

Most likely delay is probably the seller running around like a startled rabbit, trying to sort out where they are going to go.

Many a vendors solicitor has been told to delay things till the vendor has his ducks in a row
Same applies to buyers solicitors as well

fisgon

Queenio wrote: »

Anyway, I am anxious to get into the new place before Christmas, am wondering if that is going to happen at this stage.

You will but not necessarily this Christmas. Jokes aside we just bought a house. Prepare for infuriating delays. Vendors solicitors held us up no end despite both sides wanting a quick sale. The house was vacant and on the market for a year. It took July 12th booking deposit to Oct 15th to get the keys. I had really wanted to get in by end of August as I was due a baby. Not a hope. Covid has made the process so much worse. So all you can do is keep pressure on everyone and chase them endlessly to do the jobs they are paid to do. Can you tell I'm still a bit bitter?!

Best of luck

Funnily enough, I just heard from my solicitor this morning - he has received the contracts and things are finally moving. Might make Christmas yet...

dev_ire

This house and many others are vacant, I am starting to think everyone involved in property sales in Ireland has risen up to meet the average 8-12 weeks regardless of whether it is easy/straightforward or not. Not some conspiracy just they all have too much on as is nice background work to keep tipping away at regardless of people waiting as they get paid the same whether it takes 2 weeks or 14 weeks (assuming no extra work needed for longer turnaround)

beanyb

dev_ire wrote: »

This house and many others are vacant, I am starting to think everyone involved in property sales in Ireland has risen up to meet the average 8-12 weeks regardless of whether it is easy/straightforward or not. Not some conspiracy just they all have too much on as is nice background work to keep tipping away at regardless of people waiting as they get paid the same whether it takes 2 weeks or 14 weeks (assuming no extra work needed for longer turnaround)

There is definitely a vested interest on all sides to drag things out. Easier to justify high fees when it seems like it's a complicated process, so there is zero incentive to modernise things and speed them up. My purchase has been going on since March and though it is more complicated than the average and covid has contributed, every single step takes everyone involved a week or two to process, adding further delays to the already existing delays!

dev_ire

beanyb wrote: »

There is definitely a vested interest on all sides to drag things out. Easier to justify high fees when it seems like it's a complicated process, so there is zero incentive to modernise things and speed them up. My purchase has been going on since March and though it is more complicated than the average and covid has contributed, every single step takes everyone involved a week or two to process, adding further delays to the already existing delays!

The strange thing is most other industries the quicker option would not be seen as bad. If a mechanic only takes 30 mins you still pay them their worth and same with accountants etc. Legal seems to be the few where they do seem to stretch it out for whatever reason, obviously there are times where it can be complicated but most of the time it is very very straight forward.

Claw Hammer

dev_ire wrote: »

The strange thing is most other industries the quicker option would not be seen as bad. If a mechanic only takes 30 mins you still pay them their worth and same with accountants etc. Legal seems to be the few where they do seem to stretch it out for whatever reason, obviously there are times where it can be complicated but most of the time it is very very straight forward.

People who have never done a job often think it is straightforward. It is about 30 hours work at a minimum with all kinds of information and documents to be sourced. It can get complicated when there are planning and title issues. Solicitors who get things wrong get sued. All possibilities have to be checked out and excluded. It is a buyer beware transaction so there is no going back when things go wrong.

dev_ire

Claw Hammer wrote: »

People who have never done a job often think it is straightforward. It is about 30 hours work at a minimum with all kinds of information and documents to be sourced. It can get complicated when there are planning and title issues. Solicitors who get things wrong get sued. All possibilities have to be checked out and excluded. It is a buyer beware transaction so there is no going back when things go wrong.

Yes of course there are exceptions, but most of the time it is very checklist style boilerplate stuff. Still it takes weeks to do even if you have insurances, surveys, letter of offer, all bank documents in place and land is freehold and property is vacant and no chain which is just complacency at that stage.

Basically they have no incentive to do it quicker or modernise.

Also I don't think it is easy, as I said if a mechanic or accountant etc does a job quickly but correctly most people would still be happy to pay them "properly".

Claw Hammer

dev_ire wrote: »

Yes of course there are exceptions, but most of the time it is very checklist style boilerplate stuff. Still it takes weeks to do even if you have insurances, surveys, letter of offer, all bank documents in place and land is freehold and property is vacant and no chain which is just complacency at that stage.

Basically they have no incentive to do it quicker or modernise.

Also I don't think it is easy, as I said if a mechanic or accountant etc does a job quickly but correctly most people would still be happy to pay them "properly".

there are 2 solicitors. A mechanic does not have to operate with another mechanic in an adversarial process. Neither does an accountant for the most part.
Letters have to be written and replies awaited and items queried. It means the work can't be done in one block but has to be interwoven with other work. It will generally not be the highest priority work on hand. Litigation which has tight deadlines will always come first. The problem with conveyancing in Ireland is that there are complicated processes attached to it. LPT, NPPR, planning issues etc as well as onerous title investigation requirements. Rights of way and other issues have to be checked out. The Registry of Deeds system began in 1707 and is still not phased out despite land registration beginning in the 1890s and provision for compulsory registration being made in 1964.
Legislative change is what is needed rather than condemning solicitors.

Cash_Q

ANYBODY out there had probate granted in Dublin recently? Ringing the office the recording states 8-10 weeks, we are into week 11 now. Solicitors say there have been no queries raised and it should be any day now but finding it hard to believe. Very conscious of banks winding down ahead of Christmas so really stressing out that it comes through soon before all the delays with Christmas closures etc. PM me please if you prefer not to post.

Cash_Q

ANYBODY out there had probate granted in Dublin recently? Ringing the office the recording states 8-10 weeks, we are into week 11 now. Solicitors say there have been no queries raised and it should be any day now but finding it hard to believe. Very conscious of banks winding down ahead of Christmas so really stressing out that it comes through soon before all the delays with Christmas closures etc. PM me please if you prefer not to post.

Littleredcar

When my solicitor said probate would be 10-14 days it was 11 days they are fairly accurate with their projections . I got mine two weeks ago it took roughly 10 weeks

Cash_Q

Littleredcar wrote:

When my solicitor said probate would be 10-14 days it was 11 days they are fairly accurate with their projections . I got mine two weeks ago it took roughly 10 weeks

Thanks so much for that! Where you say days above twice did you mean to say weeks?
Was this in Dublin? Thanks you're giving a sleepless lady a bit of hope here!

Littleredcar

No I meant days what happened was solicitor had another applicant lodged 10 days in advance of mine so was fairly confident. I’m in dublin

Cash_Q

Littleredcar wrote:

No I meant days what happened was solicitor had another applicant lodged 10 days in advance of mine so was fairly confident. I’m in dublin

Ah I think I follow, so your solicitors other client got their probate through and he could then tell you it would be another 10-14 days, and it was 11 days? Great to hear thank you and congrats on your new home

Gaeilgeoir_Dub

I feel your pain Cash_Q, when we went sale agreed back in August we were told by the EA that probate was lodged and would be issued soon. We naively believed it would be well sorted by the time we were ready to close. Our solicitor told us there were no more queries on the probate and it was expected in 4-5 weeks, it will be 5 weeks on Thursday. I don't believe though with the move to 8-10 weeks we'll see it this side of Christmas!

Cash_Q

Gaeilgeoir_Dub wrote:

I feel your pain Cash_Q, when we went sale agreed back in August we were told by the EA that probate was lodged and would be issued soon. We naively believed it would be well sorted by the time we were ready to close. Our solicitor told us there were no more queries on the probate and it was expected in 4-5 weeks, it will be 5 weeks on Thursday. I don't believe though with the move to 8-10 weeks we'll see it this side of Christmas!

We were sale agreed the beginning of August and this arose mid September and were told 4-6 weeks, then 6-8 weeks, now 8-10 weeks. The fact we have surpassed that now has me worried but we are being told "any day now" by the solicitors.. poster above is giving me a glimmer of hope though!

Starlord_01

Valuation done yesterday, hopefully have loan offer from the bank next week.

Solicitor already has the contracts sent by the vendor since last week.

What's next?

Cash_Q

Starlord_01 wrote:

What's next?

Organise a structural survey and don't sign contracts until you've read the report.

Starlord_01

Cash_Q wrote: »

Organise a structural survey and don't sign contracts until you've read the report.

Already done by a family friend, he told us to proceed.

thebiggestjim

Starlord_01 wrote: »

Valuation done yesterday, hopefully have loan offer from the bank next week.

Solicitor already has the contracts sent by the vendor since last week.

What's next?

Life Insurance

then House Insurance

squareboy007

Gaeilgeoir_Dub wrote: »

I feel your pain Cash_Q, when we went sale agreed back in August we were told by the EA that probate was lodged and would be issued soon. We naively believed it would be well sorted by the time we were ready to close. Our solicitor told us there were no more queries on the probate and it was expected in 4-5 weeks, it will be 5 weeks on Thursday. I don't believe though with the move to 8-10 weeks we'll see it this side of Christmas!

Probate on our house just got issued yesterday. It took 11 weeks and one day from the date the application was submitted.

Cash_Q

squareboy007 wrote:

Probate on our house just got issued yesterday. It took 11 weeks and one day from the date the application was submitted.

Fantastic news! Onwards and upwards!

Gaeilgeoir_Dub

squareboy007 wrote: »

Probate on our house just got issued yesterday. It took 11 weeks and one day from the date the application was submitted.

Congrats! We're signing contracts this week which is exciting but the champagne will really be opened when the probate is finally issued.

So many people said to me how lucky we were that it was a probate sale, no occupants so quick move in etc. I actually wouldn't mind too much if we knew when it would happen it's the uncertainty that kills me. But I think I'll just assume 11 weeks now and settle in for Christmas in our current accomodation.

Financesetc.

In the process of buying a home.
1. Home advertised as a 5 bed, one room converted to a 5th bedroom, exempt from planning permission.
2. Had an engineer's survey carried out and he list as a 5 bed.
3. Had a valuer from the bank carry out a valuation on the property ( not sure if it was a drive by or on site valuation).
4. Bank were happy with the valuation and have issued loan pack to solicitor.
5. I got a copy of the valuation recently and i spotted that he has it down as a 4 bed instead of a 5 bed.
6. I have taken out home insurance on it as a 5 bed because it is.

My questions are why would he list it as 4 as opposed to 5, was it a flyby valuation, would I have got a better valuation and hence a better LTV rate had it be listed as 5 bed as opposed to 4.
Was it malicious or incompetence on the valuers part.
I have had to loan approved so i dont want there to be any issues so i didnt query it.
I can always get it revaluated in 3 years when i switch my mortgage provider and ensure the valuer lists it as a 5bed.
Let me know what you think, thanks guys/girls.

brisan

Financesetc. wrote: »

In the process of buying a home.
1. Home advertised as a 5 bed, one room converted to a 5th bedroom, exempt from planning permission.
2. Had an engineer's survey carried out and he list as a 5 bed.
3. Had a valuer from the bank carry out a valuation on the property ( not sure if it was a drive by or on site valuation).
4. Bank were happy with the valuation and have issued loan pack to solicitor.
5. I got a copy of the valuation recently and i spotted that he has it down as a 4 bed instead of a 5 bed.
6. I have taken out home insurance on it as a 5 bed because it is.

My questions are why would he list it as 4 as opposed to 5, was it a flyby valuation, would I have got a better valuation and hence a better LTV rate had it be listed as 5 bed as opposed to 4.
Was it malicious or incompetence on the valuers part.
I have had to loan approved so i dont want there to be any issues so i didnt query it.
I can always get it revaluated in 3 years when i switch my mortgage provider and ensure the valuer lists it as a 5bed.
Let me know what you think, thanks guys/girls.

What room did they convert to a bedroom
If the house was built as a 4 bedroom house and no room was added ,then it is still a 4 bedroom house

Financesetc.

brisan wrote: »

What room did they convert to a bedroom
If the house was built as a 4 bedroom house and no room was added ,then it is still a 4 bedroom house

Attic, full stairs installed.

Starlord_01

Financesetc. wrote: »

Attic, full stairs installed.

https://www.irishtimes.com/life-and-style/homes-and-property/do-i-need-planning-permission-to-convert-our-attic-1.3660304

Financesetc.

Starlord_01 wrote: »

https://www.irishtimes.com/life-and-style/homes-and-property/do-i-need-planning-permission-to-convert-our-attic-1.3660304

Quote from your link. Thanks
""If the works are largely internal and do not interfere with the overall external appearance of the house, apart from the provision of Velux-style roof lights within the rear roof slope which constitutes exempted development, this does not require planning permission.""