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

JimmyVik

AhhHere wrote: »

Yes but I'd like to know the amount. Know any tools?

Visualping and changetower.

GoldFour4

Emailed about a property that went up around 11 this morning. Agent came back and already an offer €5k over asking. Property in North Dublin. The sooner in person viewings get back the better.

Nika Bolokov

A 4 bed detached house in poor condition in a very unfashionable west Dublin suburb with a busy flyover adjacent the back garden has just come on the market asking nearly 700k.

With renovation costs you wont be left with much change out of one million euro for the house. Nothing like that price was ever achieved anywhere locally for any house.

Unless its going to be knocked down, for me thats my canary in the coalmine moment for this property cycle.

Busi_Girl08

Got a call from an EA this morning about a house we bid on, we're one of the higher bidders (but not the highest), EA has invited us to view the house on Monday. He said he didn't expect the price to change much more before the viewings.

Sweet.Science

malistheman wrote: »

Emailed about a property that went up around 11 this morning. Agent came back and already an offer €5k over asking. Property in North Dublin. The sooner in person viewings get back the better.

You think that would make a difference ? Not many at all coming back on the market after being sale agreed

House on PPR in December at 330k

Same road current bid 385k

Reins

Sweet.Science wrote: »

You think that would make a difference ? Not many at all coming back on the market after being sale agreed

House on PPR in December at 330k

Same road current bid 385k

Estate agent told me that there's a lot coming back from sales falling through.

Markitron

Nika Bolokov wrote: »

A 4 bed detached house in poor condition in a very unfashionable west Dublin suburb with a busy flyover adjacent the back garden has just come on the market asking nearly 700k.

With renovation costs you wont be left with much change out of one million euro for the house. Nothing like that price was ever achieved anywhere locally for any house.

Unless its going to be knocked down, for me thats my canary in the coalmine moment for this property cycle.

I have mentioned this at least 5 times before, but the derelict terraced corpo house in Edenmore going for over 400K was mine.

Like imagine if prices did normalise somewhat in a year and you found yourself paying a 1600 quid mortgage on a corpo house in Edenmore that you had to take 50k home improvement loan out for just to make it habitable. Bout 2200 quid a month on a corpo gaff in Edenmore. I'd kill myself.

Sweet.Science

Reins wrote: »

Estate agent told me that there's a lot coming back from sales falling through.

Hopefully that's the case. It's so easy at the moment to keep making offers even though you may not be interested . All from the comfort of your phone. One person might be increasing the price of 5 houses

Nika Bolokov

Markitron wrote: »

I have mentioned this at least 5 times before, but the derelict terraced corpo house in Edenmore going for over 400K was mine.

This thing looks like a storage building built in the 50's in the yard of a hospital in Cavan or Offaly.

Markitron

Nika Bolokov wrote: »

This thing looks like a storage building built in the 50's in the yard of a hospital in Cavan or Offaly.

The one in Edenmore looks like it would need about 20k worth of work to get it up to the standard of a heroin den.

cupcaketown

Currently in process of trying to buy in south dublin! Finding it a very stressful process, first time buyer and have spent a few years saving. First started looking in Feb 20 before Covid hit, currently getting outbid at least 30 - 50k each time. Incredibly frustrating, appreciate I am looking for something thats move in ready but every house just seems to go wayyy over asking.

0gac3yjefb5sv7

Markitron wrote: »

I have mentioned this at least 5 times before, but the derelict terraced corpo house in Edenmore going for over 400K was mine.

Like imagine if prices did normalise somewhat in a year and you found yourself paying a 1600 quid mortgage on a corpo house in Edenmore that you had to take 50k home improvement loan out for just to make it habitable. Bout 2200 quid a month on a corpo gaff in Edenmore. I'd kill myself.

Is there a link to it?

Sweet.Science

Markitron wrote: »

I have mentioned this at least 5 times before, but the derelict terraced corpo house in Edenmore going for over 400K was mine.

Like imagine if prices did normalise somewhat in a year and you found yourself paying a 1600 quid mortgage on a corpo house in Edenmore that you had to take 50k home improvement loan out for just to make it habitable. Bout 2200 quid a month on a corpo gaff in Edenmore. I'd kill myself.

https://www.myhome.ie/residential/brochure/10-glenfarne-road-raheny-dublin/4481898

If it's this one it's not an ex corpo house or corpo estate

Granted sale agreed at 400k is madness

AhhHere

cupcaketown wrote: »

Currently in process of trying to buy in south dublin! Finding it a very stressful process, first time buyer and have spent a few years saving. First started looking in Feb 20 before Covid hit, currently getting outbid at least 30 - 50k each time. Incredibly frustrating, appreciate I am looking for something thats move in ready but every house just seems to go wayyy over asking.

Mind asking what price range you're looking in?

Bubonic

I'm trying to buy at the moment and have a house to sell. The estate agent is putting me under a lot of pressure to sign the contract to buy. Whats the normal process here? Do I not wait until I have a buyer for my house? What if there is a delay and my mortgage approval expires after I have signed the contract? Do I get the deposit back?

dkav9

currently looking around the 300k mark in Dublin. What should I expect the bids to go to above this? Should I set my search to houses with AP around 250?

I'm currently looking at old council houses that need a bit of work because a house I enquired about that was in very good shape had already been bid about 80k above asking after a couple of days!!

Baby01032012

Nika Bolokov wrote: »

A 4 bed detached house in poor condition in a very unfashionable west Dublin suburb with a busy flyover adjacent the back garden has just come on the market asking nearly 700k.

With renovation costs you wont be left with much change out of one million euro for the house. Nothing like that price was ever achieved anywhere locally for any house.

Unless its going to be knocked down, for me thats my canary in the coalmine moment for this property cycle.

17 Newlands road by any chance? Decent house 150 Sq metres and some garden but yeah at 645k it’s at the wrong price point for that area.

dkav9

dkav9 wrote: »

currently looking around the 300k mark in Dublin. What should I expect the bids to go to above this? Should I set my search to houses with AP around 250?

I'm currently looking at old council houses that need a bit of work because a house I enquired about that was in very good shape had already been bid about 80k above asking after a couple of days!!

Similar boat. Seems to be nothing between say 290 and 330. Everything either dirt for below or overpriced to 300, or else bumped up to 340 etc to make 350 bidding.

Cash_Q

Bubonic wrote:

The estate agent is putting me under a lot of pressure to sign the contract to buy. Whats the normal process here?

Be advised by your own solicitor on this and noone else, certainly not an EA.

scamalert

Bubonic wrote: »

I'm trying to buy at the moment and have a house to sell. The estate agent is putting me under a lot of pressure to sign the contract to buy. Whats the normal process here? Do I not wait until I have a buyer for my house? What if there is a delay and my mortgage approval expires after I have signed the contract? Do I get the deposit back?

signing to buy is not a binding contract as i understand in Ireland so until you sign last paper where cash is transferred it just counts as verbal contract, from one point you can dictate when you estimate you want to close on the house so your solicitor will work depending on your timeline.
that said im not 100% on it just what ive read.


And def dont get pushed by ea, if your lookin for other places etc weight your options before committing.

Baby01032012

scamalert wrote: »

signing to buy is not a binding contract as i understand in Ireland so until you sign last paper where cash is transferred it just counts as verbal contract, from one point you can dictate when you estimate you want to close on the house so your solicitor will work depending on your timeline.
that said im not 100% on it just what ive read.


And def dont get pushed by ea, if your lookin for other places etc weight your options before committing.

Appropriate user name scamalert given you’ve given completely wrong advise.

If they sign contracts and pay the balance of their 10% deposit this is non refundable. If they pull out after signing they loose this.

Bubonic

Baby01032012 wrote: »

Appropriate user name scamalert given you’ve given completely wrong advise.

If they sign contracts and pay the balance of their 10% deposit this is non refundable. If they pull out after signing they loose this.

Well that settles that so, thanks for the responses

scamalert

Baby01032012 wrote: »

Appropriate user name scamalert given you’ve given completely wrong advise.

If they sign contracts and pay the balance of their 10% deposit this is non refundable. If they pull out after signing they loose this.

as said not 100%, but myself went sale agreed and buyer paid think it was 1-2% to my EA to initiate paperwork, which i guess is kept to cover their fees when close happens, and is in no way binding.

Nika Bolokov

Baby01032012 wrote: »

17 Newlands road by any chance? Decent house 150 Sq metres and some garden but yeah at 645k it’s at the wrong price point for that area.

Thats the one. It might have been in that price range had the broader area developed differently since the 50's when that house was built, but today, that price is crazy given the amount of work needed and the location.

Pussyhands

Looking and there's absolutely nothing popping up in the areas I am looking in in my price range. zzzzz

Baby01032012

Baby01032012 wrote: »

Appropriate user name scamalert given you’ve given completely wrong advise.

If they sign contracts and pay the balance of their 10% deposit this is non refundable. If they pull out after signing they loose this.

To caveat that it is quite common for the buyers solicitor to ask for a clause to be inserted stating that if the financing falls through that the deposit will be refunded.

Not all vendors will allow this, for example i seen that the developer of clay farm will not allow this.
The developer of the new build we are purchasing off did allow it to be inserted.

Sweet.Science

Pussyhands wrote: »

Looking and there's absolutely nothing popping up in the areas I am looking in in my price range. zzzzz

Same . Worst the supply has ever been in my times looking

Prices must have increased by over 10% from q4 2020 to q1 2021

Is it solely down to lack of supply and people bidding on houses that they normally would pass on just to get something ?

Bubonic

cisk wrote: »

To caveat that it is quite common for the buyers solicitor to ask for a clause to be inserted stating that if the financing falls through that the deposit will be refunded.

Not all vendors will allow this, for example i seen that the developer of clay farm will not allow this.
The developer of the new build we are purchasing off did allow it to be inserted.

I spoke to them and that's actually what they suggested, so I'll talk to my solicitor on Monday and see what they think.

klose

Sweet.Science wrote: »

Same . Worst the supply has ever been in my times looking

Prices must have increased by over 10% from q4 2020 to q1 2021

Is it solely down to lack of supply and people bidding on houses that they normally would pass on just to get something ?

In my opinion (along with the supply & demand aspect which is most certainly an issue) it's that people are bidding on houses to go sale agreed to simply be allowed view them in which case they decide wether they actually want it, if they don't want it they go to the next highest bidder and so on, but the prices have already been set sky high due to blind bidding. EAs are laughing, they must be hoping there restrictions never lift.

But to be fair, an estate agent we contacted about a new property about replied to us no viewings are allowed with current restrictions, when we asked to be kept in the loop about any bids that we would like to keep up to date with and we are very interested in it he rang us and said he would get us in as not to be bidding blindly.

In my area for example there's always plenty of average homes for sale in two particularly large housing estates, these are still only selling for asking or slightly above so it shows not everyone here atleast is just buying up anything on offer.

Sweet.Science

klose wrote: »

In my opinion (along with the supply & demand aspect which is most certainly an issue) it's that people are bidding on houses to go sale agreed to simply be allowed view them in which case they decide wether they actually want it, if they don't want it they go to the next highest bidder and so on, but the prices have already been set sky high due to blind bidding. EAs are laughing, they must be hoping there restrictions never lift.

But to be fair, an estate agent we contacted about a new property about replied to us no viewings are allowed with current restrictions, when we asked to be kept in the loop about any bids that we would like to keep up to date with and we are very interested in it he rang us and said he would get us in as not to be bidding blindly.

In my area for example there's always plenty of average homes for sale in two particularly large housing estates, these are still only selling for asking or slightly above so it shows not everyone here atleast is just buying up anything on offer.

Initially I thought the same . These houses haven't come back on the market since going sale agreed though