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

JimmyVik

matchthis wrote: »

I sold my first house without estate agent. Just put the word out with friends and family I was looking to move. Friend of a friend bought it in the end after about two weeks. Was just a case of giving them my solicitors details. Didn’t use online, sometimes family and friends like to live close to each other so putting the word out can have a big effect. Selling again and everyone is telling me about houses near them that are for sale

I bought a house not too long ago and before I even had moved into it the estate agent was on to me with substantially higher offer than what I had just paid. I took a chance and asked for more and they agreed. So bought and sold within a couple of months and hadnt actually even moved in yet.

Milena009

Aisling(",) wrote: »

Does anyone know how long it usually takes for a solicitor to receive contracts after going sale agreed?
I'm over two weeks sale agreed and my solicitor has heard nothing so far.
I know all sales are different but I'm excited/impatient and just wondering if there is a standard timeframe.

First of all, congratulations! One step (super important) down!
I am at similar stage and impatiently waiting 😅
In the meantime, I am sorting out loan offer from KBC and getting quotes for life insurance/ home cover as we have valuation and surveyor done 🎉

For me it's been three weeks today but given Easter, I expect some delay on top of your Covid delay

liam7831

Ladybird25 wrote: »

Does anyone here has experience buying a place directly from seller? For what I can see in daft and myhome everything seems to be through a EA and that seems to increase the price a bit so I was wondering if selling directly is not common practice in Ireland?

I am really not up for much bidding anymore, it just too crazy at the moment.

Most sellers will want a few bidders so EA is most sensible option i guess.

yew_tree

Anyone heard stories that a flood of properties will go on the market once restrictions ease?
It’s very frustrating for buyers right now.

Hontou

yew_tree wrote: »

Anyone heard stories that a flood of properties will go on the market once restrictions ease?
It’s very frustrating for buyers right now.

I am a landlord waiting to sell a house but can't until ease of Covid restrictions allow the notice period to resume for the existing tenants. My estate agent tells me there are a lot of people in this situation waiting to sell. If that is true, then many properties will come onto the market between 6-8 months (notice periods) after level 5 lockdown ends.

Ladybird25

matchthis wrote: »

I sold my first house without estate agent. Just put the word out with friends and family I was looking to move. Friend of a friend bought it in the end after about two weeks. Was just a case of giving them my solicitors details. Didn’t use online, sometimes family and friends like to live close to each other so putting the word out can have a big effect. Selling again and everyone is telling me about houses near them that are for sale

Thanks, we were just talking to a neighbour about it (we are currently renting) and he actually mentioned a house like this. Hopefully this is a new opportunity for us!

yew_tree

Hontou wrote: »

I am a landlord waiting to sell a house but can't until ease of Covid restrictions allow the notice period to resume for the existing tenants. My estate agent tells me there are a lot of people in this situation waiting to sell. If that is true, then many properties will come onto the market between 6-8 months (notice periods) after level 5 lockdown ends.

Had not thought of that. I’ve never seen so few properties listed for sale. Even here in rural south Mayo.

Draco

cintec wrote: »

Has anyone got experience with RSU stock as additional income, AIB and PTSB won't consider them as part of the 3.5x or in consideration of an exemption. As I make an additional 30k each year from the RSU stocks I thought they would at least be considered.

KBC didn't for me either. Wanted them cashed in before considering part of the deposit even.

klose

Has anyone had experience buying an F rated BER home? Looking at one for ourselves, needless to say a low mortgage but a very nice settled area close to town.

I assume the likes of getting the house insulated, double glazed windows and a new heating system would go a long way to bulking that up? Anything else?

klose

Hontou wrote: »

I am a landlord waiting to sell a house but can't until ease of Covid restrictions allow the notice period to resume for the existing tenants. My estate agent tells me there are a lot of people in this situation waiting to sell. If that is true, then many properties will come onto the market between 6-8 months (notice periods) after level 5 lockdown ends.

We lost out on the purchases of a home for this reason (seller was planning on moving into her rented accommodation after we purchased her home) but fell through as she could not get tenants out due to covid. We have first refusal when the house goes back up as agreed with all parties, so we are looking at 6 to 8 months once level 5 lifts like you say?

The_Conductor

klose wrote: »

We lost out on the purchases of a home for this reason (seller was planning on moving into her rented accommodation after we purchased her home) but fell through as she could not get tenants out due to covid. We have first refusal when the house goes back up as agreed with all parties, so we are looking at 6 to 8 months once level 5 lifts like you say?

I personally know of 8-10 people in precisely this position within a mile of where I live. Was chatting to a local estate agent about it- he reckons there could be a sizeable number of properties hitting the market in 2022 in this position (along with another sizeable chunk of Fair Deal properties- of which there are circa 6.5k sitting vacant with deceased owners in the last 16 months which have been untouched by the HSE.

The market could look very interesting in 2022- however, the condition of the properties on it could be pretty awful.

fliball123

The_Conductor wrote: »

I personally know of 8-10 people in precisely this position within a mile of where I live. Was chatting to a local estate agent about it- he reckons there could be a sizeable number of properties hitting the market in 2022 in this position (along with another sizeable chunk of Fair Deal properties- of which there are circa 6.5k sitting vacant with deceased owners in the last 16 months which have been untouched by the HSE.

The market could look very interesting in 2022- however, the condition of the properties on it could be pretty awful.

Can people not see that this is like a game of musical chairs and the people who are putting property they own or the property renting out, up for sale will need a place to buy or the occupants will need a place to rent as well. the only way of getting the amount of property for sale up is by building. So while you may have more houses on stream you will have the same with demand.Plus people who have been told they cant buy while on PUP or their company getting any kind of state support for paying their wage (this has been for the last year). Cant see the issue being resolved any time soon

JohnnyChimpo

klose wrote: »

Has anyone had experience buying an F rated BER home? Looking at one for ourselves, needless to say a low mortgage but a very nice settled area close to town.

I assume the likes of getting the house insulated, double glazed windows and a new heating system would go a long way to bulking that up? Anything else?

BER by itself doesnt exactly tell you much without the full report (and even then...)

But yeah, new boiler, double glazing, dry-lining certain external walls if they're just single block or poured concrete, external wrap insulation if youre really committed.

But also very low-effort changes like switching to all LED lighting, and adding or beefing up attic insulation, can have a big impact

Busi_Girl08

Saw a house that went on the market yesterday evening and contacted the EA straight away, rang the EA this morning to follow up and the property went sale agreed to a family member at €25k over asking price this morning.

JimmyVik

klose wrote: »

Has anyone had experience buying an F rated BER home? Looking at one for ourselves, needless to say a low mortgage but a very nice settled area close to town.

I assume the likes of getting the house insulated, double glazed windows and a new heating system would go a long way to bulking that up? Anything else?

Pay no attention to the BER at all.
Let others do that.
Simple answer is that You could get that F up to a high C, which is perfectly fine for 10K or less.
Let other bidders get scared by the BER, and you just swoop in with your knowledge that it isnt as big a deal as 99% of buyers think it is.

JimmyVik

fliball123 wrote: »

Can people not see that this is like a game of musical chairs and the people who are putting property they own or the property renting out, up for sale will need a place to buy or the occupants will need a place to rent as well. the only way of getting the amount of property for sale up is by building. So while you may have more houses on stream you will have the same with demand.Plus people who have been told they cant buy while on PUP or their company getting any kind of state support for paying their wage (this has been for the last year). Cant see the issue being resolved any time soon

I think that most people are in a panic because they might not get a mortgage in the next few years if one of them loses their jobs.
The economy could actually get worse over the next few years and then a lot of people currently approved for a mortgage will not be approved for many years again if the fall off their approval.


I personally would wait, but I understand why some people are worried if they dont make a move to buy now that they may not get the chance in the next 5 years or so. Striking while the iron is hot so to speak.

JimmyVik

I think i posted here last week or the week before about a friend putting their house on the market without advertising it and that i was interested to see how it went. She thought she would get about €350k so asked for €325k.
A week in and its already bid up to €395k and she says she is going to accept if no new offers by the weekend.
That is staggering. The house is filthy. She hasnt even staged it for sale and the estate agent just made phone calls to get bidders. There isnt even a sign on the house and yet its going to be a done deal within a week or two of her telling the EA to sell it quietly.

cintec

Draco wrote: »

KBC didn't for me either. Wanted them cashed in before considering part of the deposit even.

Yes seems because the number of shares is guaranteed but the share price is not then the banks wont look at them.

Brock Turnpike

Apologies if this has been asked recently but I'd there any clear detail on when the restrictions will ease enough to allow viewings to resume?

I honestly don't understand why they won't allow individual viewings.

JimmyVik

Brock Turnpike wrote: »

Apologies if this has been asked recently but I'd there any clear detail on when the restrictions will ease enough to allow viewings to resume?

I honestly don't understand why they won't allow individual viewings.

From what im told, they are allowing viewings no problem if the house is unoccupied by leaving the keys in the door by "accident"


Where houses are occupied though its harder.

Markitron

Brock Turnpike wrote: »

Apologies if this has been asked recently but I'd there any clear detail on when the restrictions will ease enough to allow viewings to resume?

I honestly don't understand why they won't allow individual viewings.

A few people here have reported that estate agents are saying its the 12th

Busi_Girl08

Was on the phone to 2 EAs this morning and neither of them have heard anything about restrictions lifting except for vague rumours floating around. It looks like this is going to drag on another while

DataDude

Markitron wrote: »

A few people here have reported that estate agents are saying its the 12th

I had been hearing the same about the 12th from a few EA's. Said this in passing to a Sherry Fitz agent yday (who was showing me a vacant house). They advised that the Sherry Fitz official line is no viewings until May at the earliest .

givyjoe

DataDude wrote: »

I had been hearing the same about the 12th from a few EA's. Said this in passing to a Sherry Fitz agent yday (who was showing me a vacant house). They advised that the Sherry Fitz official line is no viewings until May at the earliest .

Easier for them to do so. Why would they bother when they can just show it to more people online with far lass effort. I've had the same from REMAX/Team Lorraine.. :mad: Dont seem overly pushed with showing properties in person.

DataDude

DataDude wrote: »

I had been hearing the same about the 12th from a few EA's. Said this in passing to a Sherry Fitz agent yday (who was showing me a vacant house). They advised that the Sherry Fitz official line is no viewings until May at the earliest .

Lol!
The agent was showing you a house when they said this!
Shows how trustworthy they are

DataDude

givyjoe wrote: »

Easier for them to do so. Why would they bother when they can just show it to more people online with far lass effort. I've had the same from REMAX/Team Lorraine.. :mad: Dont seem overly pushed with showing properties in person.

I'm not sure the EA's are having the time of their lives that people think. At the end of the day, they're a volume business and volumes are at historically low levels. Prices being up 5/6% won't cover their loss of volume. I've also heard a few saying that sale agreed's falling through have spiked on virtual bidding. They'd definitely prefer something to go through 10% below asking than fall through twice and then go through 10% above asking given the extra time it demands from them.

I know a few EA's and they are despondent at the minute. Using annual leave etc. as nothing to be done with so few properties on the market. I get the strong vibe that at least some want a return to business as usual as much as everyone else.

cnocbui

Irish banks are something else. Almost as slow as civil servants in the passport office.

I am selling a property and the buyer has been trying to get a loan for 3.25 months so far. They have had verbal approval but they are still working away at it.

Finding it a bit demoralising buying atm. Waiting for anything to crop up on the market but simply isn't happening in Cork atm. Waiting for the eventual flood of property onto the market but have a feeling that prices are gonna be driven up for a while regardless. Lack of viewings opening up doesn't help either.

JimmyVik

Deleted User wrote: »

Finding it a bit demoralising buying atm. Waiting for anything to crop up on the market but simply isn't happening in Cork atm. Waiting for the eventual flood of property onto the market but have a feeling that prices are gonna be driven up for a while regardless. Lack of viewings opening up doesn't help either.

Only problem is there are probably a lot of people waiting the same as you are and then it will be a stampede

cintec

cnocbui wrote: »

Irish banks are something else. Almost as slow as civil servants in the passport office.

I am selling a property and the buyer has been trying to get a loan for 3.25 months so far. They have had verbal approval but they are still working away at it.

It might not be the bank, the buyer could be slow to respond to requests for documents/information.

Do people bid when they only have a verbal agreement with the banks?
I have been waiting for the banks to finish my application before bidding.