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

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    #5882
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


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

    Yep aware of that.


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    #5883
    cnocbui
    Registered Users Posts: 20,047 ✭✭✭✭cnocbui


    cintec wrote: »
    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.

    I doubt it's the buyer, who's a CPA.


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    #5884
    TetrisLover
    Registered Users Posts: 8 ✭TetrisLover


    Decided not to check daft for couple of months. There was an apartment in poor condition I saw on daft only a couple of weeks ago which I enquired about but it was already sale agreed. I now see the apartment being rented out for just under 1700...

    It's very disheartening.


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    #5885
    theflash
    Registered Users Posts: 55 ✭✭theflash


    Sale agreed for the 3rd time, first 2 fell through. Didn't sell my place quick enough for the 1st, 2nd one the seller couldn't find a place.
    Was thinking threes a charm, then mortgage approval with kbc lapsed before contracts signed. Had to reapply.
    KBC are now looking at going straight to loan offer (because we're sale agreed and my place is sale agreed) which I never heard of.
    Anyone ever go down this route?


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    #5886
    DeWanderer
    Registered Users Posts: 57 ✭✭DeWanderer


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

    I agree, a lot of people seem to be waiting for more property to come on the market, but a lot of these properties will have their owners needing to buy too, which unfortunately won't lead to much of a net increase in property availability.

    Also, there are a lot of people currently renting who want to buy and are waiting till lockdown levels are lowered. Meaning that we will probably end up with less availability on the market.

    The fact that new builds are way behind target is the big problem, and the construction industry will take a long time to catch up.


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    #5887
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    Been sale agreed for over 2 months and just been told that BOI have put a hold on exemptions, which they told me I qualified for. Now the sale is probably gonna fall through as I start again with another lender. FML.


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    #5888
    errlloyd
    Registered Users Posts: 12,609 ✭✭✭✭errlloyd


    Markitron wrote: »
    Been sale agreed for over 2 months and just been told that BOI have put a hold on exemptions, which they told me I qualified for. Now the sale is probably gonna fall through as I start again with another lender. FML.

    Feck, I am in the exact same boat. Every week being told "no exemptions this week, try back next week".

    So I guess I'll get the bad news.


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    #5889
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    errlloyd wrote: »
    Feck, I am in the exact same boat. Every week being told "no exemptions this week, try back next week".

    So I guess I'll get the bad news.

    Yea its ****e, especially with the way BOI work when they will only consider you for an exemption AFTER you go sale agreed on a house.


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    #5890
    DataDude
    Registered Users Posts: 1,182 ✭✭✭DataDude


    Markitron wrote: »
    Been sale agreed for over 2 months and just been told that BOI have put a hold on exemptions, which they told me I qualified for. Now the sale is probably gonna fall through as I start again with another lender. FML.

    I'm really sorry to hear that, that sounds awful. Thanks for sharing though, we're in a somewhat similar boat being told "we can't give you the exemption now but don't worry, you'll get it 100%".

    Promises aren't worth anything. But not sure what you can do these days with the apparent approach of only offering exemptions after going sale agreed?
    Probably too late for you now, but for what it's worth, I do know someone who got an exemption in advance by going direct with PTSB.


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    #5891
    ec18
    Registered Users Posts: 2,713 ✭✭✭ec18


    Markitron wrote: »
    Yea its ****e, especially with the way BOI work when they will only consider you for an exemption AFTER you go sale agreed on a house.

    well like all mortgages are only actually approved after you go sale agreed?


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    #5892
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    ec18 wrote: »
    well like all mortgages are only actually approved after you go sale agreed?

    No, other places will tell you that you have an exemption from the AIP stage, or maybe just after. If BOI had said no exemption from the get go I would have gone with another lender or not gone sale agreed on the house.
    DataDude wrote: »
    I'm really sorry to hear that, that sounds awful. Thanks for sharing though, we're in a somewhat similar boat being told "we can't give you the exemption now but don't worry, you'll get it 100%".

    Yea its the stringing you along that's the worst, they should just say no and be done with it.


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    #5893
    Milena009
    Registered Users Posts: 133 ✭✭Milena009


    Markitron wrote: »
    No, other places will tell you that you have an exemption from the AIP stage, or maybe just after. If BOI had said no exemption from the get go I would have gone with another lender or not gone sale agreed on the house.

    KBC told us you need a specific address after AIP for exception but that was back in Feb
    We didn't end up needing one so don't know how it actually works with them


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    #5894
    errlloyd
    Registered Users Posts: 12,609 ✭✭✭✭errlloyd


    Markitron wrote: »
    Yea its ****e, especially with the way BOI work when they will only consider you for an exemption AFTER you go sale agreed on a house.

    Yeah. This is proper crap.


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    #5895
    Podge10
    Registered Users Posts: 12 ✭Podge10


    Just on the an estate agent there. They are really frustrated at this stage regarding viewings. They’re hoping to hear by the end of the week regarding viewings from Monday. Communication and clarity on all of this seems to be really poor. Given it’s Thursday afternoon already it’s not looking good. Next stop May?


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    #5896
    Jasna1982
    Registered Users Posts: 277 ✭✭Jasna1982


    Markitron wrote: »
    Been sale agreed for over 2 months and just been told that BOI have put a hold on exemptions, which they told me I qualified for. Now the sale is probably gonna fall through as I start again with another lender. FML.

    Damn, that’s really **** to hear. I’m just starting the application process with BoI and my advisor told me yesterday an exemption shouldn’t be a problem if I go sake agreed. Guess that’s not true anymore.

    Can you get AIP from several banks at a time? Or do you have to choose one you want to go with?

    Use my Tesla referral link for free charging credits: https://www.tesla.com/referral/jasna121868



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    #5897
    Stark
    Registered Users Posts: 20,976 ✭✭✭✭Stark


    Jasna1982 wrote: »
    Can you get AIP from several banks at a time? Or do you have to choose one you want to go with?

    I think it can lead to awkward questions as it shows up in your credit report. Having a "yeah sorry, I was playing the field but your rates are the best and it's you I want to commit to I swear" conversation with a mortgage advisor at the moment after credit check showed up AIP from another bank.

    If you want to do it by the book, you can go through a broker.


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    #5898
    Sweet.Science
    Registered Users Posts: 2,848 ✭✭✭Sweet.Science


    I've never seen prices like they are at the moment

    Scary


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    #5899
    soc
    Registered Users Posts: 488 ✭✭soc


    Jasna1982 wrote: »
    Can you get AIP from several banks at a time? Or do you have to choose one you want to go with?

    Yes. We had 3 x AIP: Kbc, Ptsb, EBS.
    Each offered us different AIP amounts and interest rates.
    So we could pick and choose who we wanted to go with.
    We applied directly to each bank and did NOT use a Broker.


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    #5900
    byron55
    Registered Users Posts: 19 ✭byron55


    Jasna1982 wrote: »
    Damn, that’s really **** to hear. I’m just starting the application process with BoI and my advisor told me yesterday an exemption shouldn’t be a problem if I go sake agreed. Guess that’s not true anymore.

    Can you get AIP from several banks at a time? Or do you have to choose one you want to go with?
    We have AIP with BOI and PTSB currently - neither asked about whether we applied elsewhere (though I did admit it in a survey BOI sent me after we got AIP). I think it's a good thing to do as each bank is different. Our AIP lasts 12m with BOI but just 6m with PTSB, so it's a little extra security.


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    #5901
    ec18
    Registered Users Posts: 2,713 ✭✭✭ec18


    Markitron wrote: »
    No, other places will tell you that you have an exemption from the AIP stage, or maybe just after. If BOI had said no exemption from the get go I would have gone with another lender or not gone sale agreed on the house.

    They will tell that you may have an exemption but anyone who tells you that you have an exemption before you've gotten to the offer letter/drawdown stage and the underwriters have gone over it which needs an actual address or sale agreed was over selling......


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    #5902
    Swampy
    Registered Users Posts: 2,104 ✭✭✭Swampy


    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.

    No direct experience but can't see banks taking them into consideration as they are unvested. Once vested you still need to sell them and pay the income tax on them.


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    #5903
    Busi_Girl08
    Registered Users Posts: 17,903 ✭✭✭✭Busi_Girl08


    In the middle of our first bidding war (house is up 15k over asking since yesterday afternoon), all by email, the EA seems to be coming back at half-day intervals with an update, can't get him on the phone so email seems to be the only way to reach him. Is this normal? This is in independent estate agent, so no bidding portals. Should I be more aggressive in contacting?

    We're reaching our limit as there will be a bit to be done in the house, it's rented at the moment (according to the EA the landlord has a good relationship with the tenants and he expects them to be out within the next month or so), hoping that might put other bidders off to give us more of a chance.


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    #5904
    extrafluff
    Registered Users Posts: 123 ✭✭extrafluff


    Hi all.
    Thought we were close to completing our purchase but our solicitor has said that the vendors want us to sign the contracts but they want to put in a clause to state that they can pull out of the sale if they don't find anywhere.
    Even though the estate agent was adamant they had somewhere to go even if they didn't find a house.
    Is this normal? Solicitor was hoping to get us in next week to sign the contracts. And now we're feeling a bit lost and disheartened.

    Any advise?
    Thanks.


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    #5905
    soc
    Registered Users Posts: 488 ✭✭soc


    extrafluff wrote: »
    Hi all.
    Thought we were close to completing our purchase but our solicitor has said that the vendors want us to sign the contracts but they want to put in a clause to state that they can pull out of the sale if they don't find anywhere.
    Even though the estate agent was adamant they had somewhere to go even if they didn't find a house.
    Is this normal? Solicitor was hoping to get us in next week to sign the contracts. And now we're feeling a bit lost and disheartened.

    Any advise?
    Thanks.

    That's outrageous! They want you to be on the hook for a contract that they can get out of? I wouldn't even entertain that.


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    #5906
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Starting to think it’s hitting peak madness and should plateau out soon. One bad example in an area im looking.

    Under bidded on a house that was 325. “Investor” came in, offered 10k over us at asking. Game over. Sale agreed. Only two bidders since October. House in poor condition but good potential. (I say “investor” because I actually know of the person who bid)

    Terraced house, nearly 100m sq appears on daft recently. 350k. Fair price. Lovely house, location, well done up.

    Sale of the first house around the corner falls through. Agent sets the house at 350k. Size, location, condition, garden all significantly worse then the second house. But listed at 350 anyway because ‘that’s what the demand in the area is’.

    Disheartened but I can see some easing in a month or two with less ridiculousness going on when people can actually see inside a house before bidding up.


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    #5907
    Padre_Pio
    Registered Users Posts: 5,131 ✭✭✭Padre_Pio


    Deleted User wrote: »
    Disheartened but I can see some easing in a month or two with less ridiculousness going on when people can actually see inside a house before bidding up.

    Honestly I'd love to see the look on the faces of people who bought without even seeing the property.
    Some awful looking places around that are sale agreed at mad money.

    Property went up for sale near us recently and it's sold within a few weeks. Pictures on daft were lovely, but the as failed to mention the house was 10 metres from a busy national road.

    I really hope the buyer had the good sense to see this, but you'd wonder.


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    #5908
    Corkgirl20
    Registered Users Posts: 196 ✭✭Corkgirl20


    Hello,
    Looking to buy a new build with Sherryfitz, received an email about reserving a home , there’s a good few new builds coming up in this phase.I booked the appointment which is through zoom. It says provide a copy of funds, solicitor name and 5k to book house on the day.

    This is all new to me. Does anyone have experience of this? Is it a private zoom with just myself and the agent ?
    Thanks


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    #5909
    awec
    Administrators Posts: 53,752 Admin ✭✭✭✭✭awec


    extrafluff wrote: »
    Hi all.
    Thought we were close to completing our purchase but our solicitor has said that the vendors want us to sign the contracts but they want to put in a clause to state that they can pull out of the sale if they don't find anywhere.
    Even though the estate agent was adamant they had somewhere to go even if they didn't find a house.
    Is this normal? Solicitor was hoping to get us in next week to sign the contracts. And now we're feeling a bit lost and disheartened.

    Any advise?
    Thanks.

    Tell them to take a hike.


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    #5910
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    Padre_Pio wrote: »
    Honestly I'd love to see the look on the faces of people who bought without even seeing the property.
    Some awful looking places around that are sale agreed at mad money.

    Property went up for sale near us recently and it's sold within a few weeks. Pictures on daft were lovely, but the as failed to mention the house was 10 metres from a busy national road.

    I really hope the buyer had the good sense to see this, but you'd wonder.

    I’d hope no one bought without seeing anyway. There’s definitely going to be people who overpaid 50k due to the viewing and bidding process. Was it worth it for them? Maybe it was.

    Whether or not asking prices continue to rise remains to be seen, but I do think (or hope) that bidding settles down soon enough and sale prices start to come back towards the asking.


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    #5911
    DataDude
    Registered Users Posts: 1,182 ✭✭✭DataDude


    extrafluff wrote: »
    Hi all.
    Thought we were close to completing our purchase but our solicitor has said that the vendors want us to sign the contracts but they want to put in a clause to state that they can pull out of the sale if they don't find anywhere.
    Even though the estate agent was adamant they had somewhere to go even if they didn't find a house.
    Is this normal? Solicitor was hoping to get us in next week to sign the contracts. And now we're feeling a bit lost and disheartened.

    Any advise?
    Thanks.

    Avoid at all costs. They can close at a time of their choice, lead you on as long as they want, pull out if they want.

    They can watch the market over time - if it goes up, they'll pull out of the sale. If it goes down, you're forced to close. In stock market terms its a free put option for them on the house. Disaster.


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