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

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    #5462
    itsusuallyjazz
    Registered Users Posts: 72 ✭✭itsusuallyjazz


    Nerves and frustration through the roof now!

    Went sale agreed end Oct and took to 3 weeks ago to get contracts. I signed last week but the vendor has still not provided a close date so my solicitor will not send on the contract or deposit. My solicitor has sent multiple emails and has written to them with no reply. I have sent a message now to the estate agent to ask him to chase them as well, they are supposedly keen to close as they are under pressure to sign for their new house ….. supposedly

    My broker was on yesterday to check the last query from the bank so think ( hope) that is all good

    I am not sure which has me more stressed - waiting for the close date or the fear that the bank will suddenly decide not to allow draw down

    non stop butterflies which is not a nice way to spend all my waking time :o


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    #5463
    DubLad69
    Registered Users Posts: 483 ✭✭DubLad69


    itsusuallyjazz wrote: »

    I am not sure which has me more stressed - waiting for the close date or the fear that the bank will suddenly decide not to allow draw down

    This is my biggest fear, that after going through everything, at the last minute the bank will change their mind.

    Realistically, it won't happen. But it is the reason that I will be stressed until I have my keys in my hand.


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    #5464
    itsusuallyjazz
    Registered Users Posts: 72 ✭✭itsusuallyjazz


    DubLad69 wrote: »
    This is my biggest fear, that after going through everything, at the last minute the bank will change their mind.

    Realistically, it won't happen. But it is the reason that I will be stressed until I have my keys in my hand.

    yeah I hear you ! I miss thinking about anything else and sleeping... I really miss sleeping


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    #5465
    zinfandel
    Registered Users Posts: 234 ✭✭zinfandel


    meijin wrote: »
    well, the latest bid is €562k now https://bidx1.com/en/property-for-sale/37-st-annes-avenue-raheny-dublin-5-50291 (click View Offers), so 515k was still too low :eek:
    thats mad money for a pretty poor of a house in a not so great area


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    #5466
    givyjoe
    Registered Users Posts: 3,287 ✭✭✭givyjoe


    zinfandel wrote: »
    thats mad money for a pretty poor of a house in a not so great area

    Well to be fair, it's on a fairly sizeable plot. Looks like you may be able to squeeze another house on the end. Actually on second look, definitely.


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    #5467
    zinfandel
    Registered Users Posts: 234 ✭✭zinfandel


    givyjoe wrote: »
    Well to be fair, it's on a fairly sizeable plot. Looks like you may be able to squeeze another house on the end. Actually on second look, definitely.

    .. on the chance that planning permission may be approved... pretty risky


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    #5468
    JimmyVik
    Registered Users Posts: 5,367 ✭✭✭JimmyVik


    givyjoe wrote: »
    Well to be fair, it's on a fairly sizeable plot. Looks like you may be able to squeeze another house on the end. Actually on second look, definitely.


    I know people who built a 3-bed house in their garden in Dublin, sold it and only pocketed €70k after build costs and taxes.
    I think it probably knocked €100k off the value of their own house too, that they didnt even think about.


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    #5469
    cnocbui
    Registered Users Posts: 20,047 ✭✭✭✭cnocbui


    meijin wrote: »
    well, the latest bid is €562k now https://bidx1.com/en/property-for-sale/37-st-annes-avenue-raheny-dublin-5-50291 (click View Offers), so 515k was still too low :eek:

    F me. Compare that to this: http://www.harrybrann.com/residential/brochure/78-ard-coillte-ballina-tipperary/4472668

    You can see why there's a push on to leave Dublin by those who can work from home.


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    #5470
    JimmyVik
    Registered Users Posts: 5,367 ✭✭✭JimmyVik


    cnocbui wrote: »
    F me. Compare that to this: http://www.harrybrann.com/residential/brochure/78-ard-coillte-ballina-tipperary/4472668

    You can see why there's a push on to leave Dublin by those who can work from home.


    How much will that cost me ?


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    #5471
    voldejoie
    Registered Users Posts: 225 ✭✭voldejoie


    Had a call with an EA earlier and he was saying that even after the covid restrictions lift, they intend to only facilitate virtual viewings going forward and it's only when you go sale agreed that you'll be invited to an actual physical viewing at the property. Seems like madness to me, virtual viewings have their value but you can only really get a sense of a place when you're actually there and looking around! I think it'll just continue to allow for bidding wars and maybe more and more sales falling through just after the sale agreed stage.


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    #5472
    zinfandel
    Registered Users Posts: 234 ✭✭zinfandel


    voldejoie wrote: »
    Had a call with an EA earlier and he was saying that even after the covid restrictions lift, they intend to only facilitate virtual viewings going forward and it's only when you go sale agreed that you'll be invited to an actual physical viewing at the property. Seems like madness to me, virtual viewings have their value but you can only really get a sense of a place when you're actually there and looking around! I think it'll just continue to allow for bidding wars and maybe more and more sales falling through just after the sale agreed stage.

    Thats ridiculous, how many times have you gone to see a place that looks great in the pictures, but very disappointing when you actually see it in real life. viewings done safely by appointment ( not open ones ) must be one of the safest things to do during covid , especially empty homes .


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    #5473
    givyjoe
    Registered Users Posts: 3,287 ✭✭✭givyjoe


    zinfandel wrote: »
    .. on the chance that planning permission may be approved... pretty risky

    Whatever they do with the extra space, it's still worth a premium. Interesting point about it later knocking value off your house. Just depends how much you 'overpay' for the extra land.


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    #5474
    cnocbui
    Registered Users Posts: 20,047 ✭✭✭✭cnocbui


    JimmyVik wrote: »
    How much will that cost me ?

    Well I don't know the agreed price but it was listed at €465 K http://www.harrybrann.com/residential/ireland/property-for-sale

    Also check out the one for €265,000 on the that page.


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    #5475
    givyjoe
    Registered Users Posts: 3,287 ✭✭✭givyjoe


    voldejoie wrote: »
    Had a call with an EA earlier and he was saying that even after the covid restrictions lift, they intend to only facilitate virtual viewings going forward and it's only when you go sale agreed that you'll be invited to an actual physical viewing at the property. Seems like madness to me, virtual viewings have their value but you can only really get a sense of a place when you're actually there and looking around! I think it'll just continue to allow for bidding wars and maybe more and more sales falling through just after the sale agreed stage.

    That's complete nonsense and id say largely laziness from them. Although they may think the its the virtual viewings are causing the bumps in price. I dont see that being widespread. Hopefully not anyway.


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    #5476
    voldejoie
    Registered Users Posts: 225 ✭✭voldejoie


    zinfandel wrote: »
    Thats ridiculous, how many times have you gone to see a place that looks great in the pictures, but very disappointing when you actually see it in real life. viewings done safely by appointment ( not open ones ) must be one of the safest things to do during covid , especially empty homes .

    It's frustrating to think that it might be the norm, and I have to say I'm kind of hoping that it doesn't end up working out because if it happens across the board it will just drive people bidding mad money on places as an initial screening just to be able to see the property in real life! I understand that EAs have people wasting their time etc but you'd think that having proof of funds would be enough of a first hoop to jump over. And I really feel like it will have a lot of purchasers pulling out once they get in to see the property, and ultimately lead to even more of a waste of time.

    The EA I was talking to said that things have been a lot more efficient on his side with the virtual viewings but it really feels like if it turns into the standard practice, the market as a whole will be a lot worse off.


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    #5477
    voldejoie
    Registered Users Posts: 225 ✭✭voldejoie


    givyjoe wrote: »
    That's complete nonsense and id say largely laziness from them. Although they may think the its the virtual viewings are causing the bumps in price. I dont see that being widespread. Hopefully not anyway.

    Completely agree! Also I'm a prospective FTB and have never been on an actual viewing, so feel like that means it's even harder to get a sense of/experience in what to be looking out for.

    Outside of Dublin btw, I wonder if that factors into it at all.


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    #5478
    DataDude
    Registered Users Posts: 1,183 ✭✭✭DataDude


    voldejoie wrote: »
    It's frustrating to think that it might be the norm, and I have to say I'm kind of hoping that it doesn't end up working out because if it happens across the board it will just drive people bidding mad money on places as an initial screening just to be able to see the property in real life! I understand that EAs have people wasting their time etc but you'd think that having proof of funds would be enough of a first hoop to jump over. And I really feel like it will have a lot of purchasers pulling out once they get in to see the property, and ultimately lead to even more of a waste of time.

    The EA I was talking to said that things have been a lot more efficient on his side with the virtual viewings but it really feels like if it turns into the standard practice, the market as a whole will be a lot worse off.

    They might like the idea of collecting the easy money - I've seen properties go €300k over asking based on a 3 minute YouTube video alone for example...but if they normalize it too much they'll start to realize the very real risk that vendors aren't willing to hand over a €10k commission when selling a house only takes an IPhone and a few emails. I expect things will be back to normal very quickly once it's possible...


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    #5479
    givyjoe
    Registered Users Posts: 3,287 ✭✭✭givyjoe


    voldejoie wrote: »
    Completely agree! Also I'm a prospective FTB and have never been on an actual viewing, so feel like that means it's even harder to get a sense of/experience in what to be looking out for.

    Outside of Dublin btw, I wonder if that factors into it at all.

    Id say, would definitely suit them to be doing less travel/in person viewing. Im assuming where you are requires more travel time for viewings.


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    #5480
    kippy
    Registered Users Posts: 18,571 ✭✭✭✭kippy


    fliball123 wrote: »
    Whats going on is there has been a build up of demand through people holding off for years due to them listening to supposed experts saying we are back in a bubble since 2017 (e.g mcWilliams) which has proven untrue due to lack of easy access to credit then waiting on brexit and then covid kicked in. Lockdown restricted a lot of sales and all of this demand seems to be hitting the market at the same time. Then on the flip side we have an all time low stock of supply add in commencements of new builds being way down last year and the lack of building this year. Add in the strain that lockdown has put on someone who is still living at home or in a house share or a small space, there is no better motivation for you to buy then been stuck there for the guts of a year to make you want your own or a bigger space. With all of this you have a perfect storm for really crazy price rises.

    Indeed - but where is the supply that is required to stabilise things? Absolutely years off by the looks of it.


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    #5481
    Starlord_01
    Registered Users Posts: 443 ✭✭Starlord_01


    Vendors solicitor finally gave our solicitor the go ahead to put a closing date on the contracts - things finally beginning to move!!


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    #5482
    kippy
    Registered Users Posts: 18,571 ✭✭✭✭kippy


    zinfandel wrote: »
    Thats ridiculous, how many times have you gone to see a place that looks great in the pictures, but very disappointing when you actually see it in real life. viewings done safely by appointment ( not open ones ) must be one of the safest things to do during covid , especially empty homes .

    Auctioneers will be able get away with it when buyers are desperate.


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    #5483
    itsusuallyjazz
    Registered Users Posts: 72 ✭✭itsusuallyjazz


    Starlord_01 wrote: »
    Vendors solicitor finally gave our solicitor the go ahead to put a closing date on the contracts - things finally beginning to move!!

    How long have you been waiting for that?


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    #5484
    Cash_Q
    Registered Users Posts: 1,920 ✭✭✭Cash_Q


    cojomo2 wrote:
    Anyone know how long drawdown is taking, from the time the solicitor returns signed loan contracts and requests funds? Thanks

    cojomo2 wrote:
    Thanks. Anyone had recent experience with KBC?

    cojomo2 wrote:
    Thanks, just looking for experience in relation to drawdown time, anyone else!?


    Hiya, going back to end Nov/mid Dec with KBC, our solicitor requested funds on Wed 25th Nov to be issued for the following Fri 4th Dec. He did so with the warning to us that it's standard for it to take an extra week as there are usually hiccups with the final checks. I contacted KBC on the Monday 30th Nov and I was told exactly what was outstanding and how to get it sorted. Application went through final checks Tues 8th Dec, funds issued that afternoon and reached our solicitor the following day. He then transferred funds to the vendors solicitors on the Thurs 10th Dec and we got the keys that day.

    Sorry if that is overly detailed, but anyway our main delay was updating our life cover as they didn't spot that the term and amount corresponded with our previous loan until the last minute.

    PM me if you want the phone number for the drawdown section, the lady I dealt with was amazing, emailed me directly so I could send her the outstanding stuff and I knew exactly how close we were to completion day by day.


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    #5485
    tscul32
    Registered Users Posts: 2,553 ✭✭✭tscul32


    kippy wrote: »
    Auctioneers will be able get away with it when buyers are desperate.

    Would that only be true for first time buyers though. Anyone looking to move is unlikely to be desperate. We're trying to decide ourselves whether to extend or move. Have seen one that we like but I wouldn't dream of even starting any process without seeing it in person. Most EA pics make everything look bigger, although with the one we're looking at it's the opposite, even the bathtub looks like it's only a foot wide. We just cannot get a proper sense of the house even from 30 photos and a video. But we have a house already so not desperate. We'll wait and see if viewings become available again and if it's still for sale.


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    #5486
    Starlord_01
    Registered Users Posts: 443 ✭✭Starlord_01


    itsusuallyjazz wrote: »
    How long have you been waiting for that?

    Sale agreed since November - first proposed date was beginning of February but the vendor is buying a new build so all work has been stopped on that.


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    #5487
    hao123
    Registered Users Posts: 31 ✭hao123


    Starlord_01 wrote: »
    Sale agreed since November - first proposed date was beginning of February but the vendor is buying a new build so all work has been stopped on that.

    This is too long. Our’s was sale agreed in mid Dec (we are the seller), and we were closed and out at end of Feb; we also bought a new build on the other end, moved in at earlier March.


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    #5488
    Starlord_01
    Registered Users Posts: 443 ✭✭Starlord_01


    hao123 wrote: »
    This is too long. Our’s was sale agreed in mid Dec (we are the seller), and we were closed and out at end of Feb; we also bought a new build on the other end, moved in at earlier March.

    Not really much either party can do while the new property isn't finished.


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    #5489
    itsusuallyjazz
    Registered Users Posts: 72 ✭✭itsusuallyjazz


    hao123 wrote: »
    This is too long. Our’s was sale agreed in mid Dec (we are the seller), and we were closed and out at end of Feb; we also bought a new build on the other end, moved in at earlier March.

    Every sale is different. I am sale agreed since 30th Oct and still have no closing date. I have signed but there is a deathly silence from the vendors side


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    #5490
    [Deleted User]
    Posts: 18,749 ✭✭✭✭ [Deleted User]


    Was chatting to my local estate agent this morning, he told me he has 14/15 properties ready to go on market when restrictions lift, he reckons the big ones like DNG probably have 30/40
    This is the Dublin 7 area.

    So, maybe some good news for buyers in a month or two


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    #5491
    Sweet.Science
    Registered Users Posts: 2,848 ✭✭✭Sweet.Science


    bubblypop wrote: »
    Was chatting to my local estate agent this morning, he told me he has 14/15 properties ready to go on market when restrictions lift, he reckons the big ones like DNG probably have 30/40
    This is the Dublin 7 area.

    So, maybe some good news for buyers in a month or two

    Heard an estate agent on the radio say similar


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