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

brianc27

my solicitor has requested 10% deposit (minus estate agent fee), so i have sent that on, the mortgage draft from the bank will be less then the purchase price, ill be making up the rest myself, i take it this is just another transfer to my solicitor just before i draw down? i thought i would have sent everything i had over in one go but he only asked for 10% of the purchase price

Emma2019

brianc27 wrote: »

my solicitor has requested 10% deposit (minus estate agent fee), so i have sent that on, the mortgage draft from the bank will be less then the purchase price, ill be making up the rest myself, i take it this is just another transfer to my solicitor just before i draw down? i thought i would have sent everything i had over in one go but he only asked for 10% of the purchase price

Only 10% gets sent to the vendor as a deposit. Balance of funds gets send at drawdown so you'll give it to your solicitor a few days before you close

brianc27

Emma2019 wrote: »

Only 10% gets sent to the vendor as a deposit. Balance of funds gets send at drawdown so you'll give it to your solicitor a few days before you close

cheers, thought as much but there so much stuff involved with this i kept thinking i overlooked something somewhere

standardg60

Deleted User wrote: »

Irish banks are truly awful. I’m sale agreed, mortgage all agreed and loan docs signed, but having to work through an issue with lost planning documents from 40 years ago. Should be okay but the bank is engaging with my solicitor by post (at the same time as not being available to call). Not email. Postal mail. In the 21st century

It is insane. Archaic banking practices and technology in this country.

Years ago i was waiting on approval for a transfer on a joint mortgage into my own name. Felt i was getting the run around from my local branch so rang the head office and asked to speak to the person who's desk it was on. It was done there and then.
The palpable disgust of the people who i'd gone over to get the job done only added to my delight.
There is still a dreadful culture of bankers here feeling that because they are giving you a loan they also get to treat you with contempt.

zuhuraswa

Is anyone else experiencing delays with their own solicitor or has changed a solicitor mid-sale? My solicitor has seriously delayed all steps of the way of a very straightforward sale to date. She continually doesn't provide complete documentation required to close the sale to the vendor's solicitor and literally drip-feeds every information to me.

On the day I signed the contracts is the first day I met her and she was delayed in picking her child from the crèche and so we rushed through all the contract and back loan offer within 10 minutes. Needless to say, there were errors made due to the rush and I ended up having to go back to her office and re-signing them again the next week.

I have been in constant contact with both the vendor and the EA who are eager to have the contracts signed and to date, the contracts aren't signed due to delays by my solicitor, despite me having them signed nearly 4 weeks ago.

I am really losing confidence in her at this point, just not sure what to do now.

Emma2019

Is she a partner in the firm or could you request another solicitor from that firm?

I think changing solicitors mid sale is awkward but I've no experience myself.

Sounds awful to deal with!

Sweet.Science

How long with you expect the initial draft contract to arrive from the vendors solicitor ?

FrankN1

I know it's been asked already but has anyone had any luck drawing down while on probation that's not in the public sector? I've heard a few cases of it and the company wants me to check if there's any banks that may do this.

houseyhouse

FrankN1 wrote: »

I know it's been asked already but has anyone had any luck drawing down while on probation that's not in the public sector? I've heard a few cases of it and the company wants me to check if there's any banks that may do this.

I haven't. I drew down on probation but was public sector. Many banks wouldn't consider me because of that. I'd suggest contacting a mortgage broker - they should know if there's any that will consider you. Depending on how long your probation is, it could take you that long to get through the application process, finding a house, the contracts phase etc. anyway. It seems like everything is taking a long time these days.

Emma2019

Sweet.Science wrote: »

How long with you expect the initial draft contract to arrive from the vendors solicitor ?

Depends on if they requested deeds before listing the house. If they didn't then theyll be waiting for the deeds for 6-8 weeks before they can think of sending over contracts.

Cash_Q

zuhuraswa wrote:

I am really losing confidence in her at this point, just not sure what to do now.

I would phone and/or email the office every day. Squeaky wheel gets the oil and all that. You will be paying thousands for her service, don't feel bad for putting pressure on to get the job done. You say you have already signed, maybe get the vendors to ask their solicitor to chase it up and ask why contracts haven't been returned.

Cash_Q

zuhuraswa wrote:

I am really losing confidence in her at this point, just not sure what to do now.

I would phone and/or email the office every day. Squeaky wheel gets the oil and all that. You will be paying thousands for her service, don't feel bad for putting pressure on to get the job done. You say you have already signed, maybe get the vendors to ask their solicitor to chase it up and ask why contracts haven't been returned.

Queasy Tadpole

Anyone have recent timelines for cash buyers? Like one side completely ready to go, 8 weeks?

Purchase of the dream home about to fall through because the planning documents for a small extension 30 years ago have been lost by the county council. If built today it wouldn't even need planning permission (< 40sq m, back of house, lower than house).

Bank have confirmation form the valuer that this doesn't affect the value, and that it is structurally sound. But absent the ability to get a certification of compliance against planning documents, the bank wants a retrospective opinion on building regulation compliance. The surveyors involved dont want to give this - I think that they just see it as a farce.

So at a complete impasse, with the vendors saying they'll pull out this week if not concluded. And the bank wanting an opinion on 30 year old building regulations, despite confirmation of valuation, which I cant get. Because of some sloppy administrator in the county council planning department in 1991

At my wits end here

houseyhouse

Deleted User wrote: »

Purchase of the dream home about to fall through because the planning documents for a small extension 30 years ago have been lost by the county council. If built today it wouldn't even need planning permission (< 40sq m, back of house, lower than house).

Bank have confirmation form the valuer that this doesn't affect the value, and that it is structurally sound. But absent the ability to get a certification of compliance against planning documents, the bank wants a retrospective opinion on building regulation compliance. The surveyors involved dont want to give this - I think that they just see it as a farce.

So at a complete impasse, with the vendors saying they'll pull out this week if not concluded. And the bank wanting an opinion on 30 year old building regulations, despite confirmation of valuation, which I cant get. Because of some sloppy administrator in the county council planning department in 1991

At my wits end here

I know of a house that sold last year with a similar problem. There was a small extension at the back which got retention permission in 1994 during a previous sale (would be exempt under current regs). Current purchaser's bank wanted proof that the extension complied with building regs. In the end the vendor wrote a letter stating when they believed the extension had been built and that they believed it complied with the building regs at the time it was built. It was particularly an issue in this case because there were a lot of changes to building regs in 1993 so the extension was built before those changes but only got the retention permission afterwards. Anyway, it all went through ok in the end. It was a box ticking exercise for the purchaser's bank.

Re. the vendor pulling out, they are going to have the same problem with anybody getting a mortgage so unless they have a cash buyer in the wings, they'd be foolish to do that. Has your solicitor explained the problem to theirs? I would see if the bank would be happy with a letter like I described above and if the vendors would be willing to provide one.

Good luck!

Emma2019

My vendor got a guy in a few weeks ago say that an extension which doesn't need planning permission meets building regs. It was built about 30 years ago. The cert they got at the time had only covered planning permission and my solicitor said that wasn't sufficient.

Architect came out and had the letter to that effect with our solicitor in about 2 days.

I would just get a different architect out tbh. PM me if you're in Dublin and want the one my vendors used.

brianc27

Deleted User wrote: »

Purchase of the dream home about to fall through because the planning documents for a small extension 30 years ago have been lost by the county council. If built today it wouldn't even need planning permission (< 40sq m, back of house, lower than house).

Bank have confirmation form the valuer that this doesn't affect the value, and that it is structurally sound. But absent the ability to get a certification of compliance against planning documents, the bank wants a retrospective opinion on building regulation compliance. The surveyors involved dont want to give this - I think that they just see it as a farce.

So at a complete impasse, with the vendors saying they'll pull out this week if not concluded. And the bank wanting an opinion on 30 year old building regulations, despite confirmation of valuation, which I cant get. Because of some sloppy administrator in the county council planning department in 1991

At my wits end here

seems like you just need an opinion of compliance cert, anyone that does surveys should be able to get this done, vendor should really get it sorted, but if all else fails you could offer to pay yourself, but should be down to the vendor to sort this

Gru

Deleted User wrote: »

Purchase of the dream home about to fall through because the planning documents for a small extension 30 years ago have been lost by the county council. If built today it wouldn't even need planning permission (< 40sq m, back of house, lower than house).

Bank have confirmation form the valuer that this doesn't affect the value, and that it is structurally sound. But absent the ability to get a certification of compliance against planning documents, the bank wants a retrospective opinion on building regulation compliance. The surveyors involved dont want to give this - I think that they just see it as a farce.

So at a complete impasse, with the vendors saying they'll pull out this week if not concluded. And the bank wanting an opinion on 30 year old building regulations, despite confirmation of valuation, which I cant get. Because of some sloppy administrator in the county council planning department in 1991

At my wits end here

Have your solicitors mentioned qualification on title? we had to do one for a missing/lost cert an engineering company wouldn't replace so we gathered up all the evidence we could get together about the work done sent it to the bank and the bank granted it and we eventually bought it...it might be something you have to resolve at cost to yourself in the future or you could have problems if you ever try to sell, but if it's the "Dream house" is it worth it?


echoing what has been said by houseyhouse if they sellers want to pull out they'll need either a cash buyer or a not so diligent bank/solicitor buying it from them so either way they'll have issues,

McGrath5

Well after putting a deposit down in December we are finally getting the keys to our new house tomorrow, couldn't be more delighted and thanks everyone here for the advice along the way.

Aisling(",)

Due to be getting the keys on Friday.
Got a call from our solicitor to say there's been a delay with the vendors purchase so now it'll be Monday or Tuesday.
I've a bed being delivered to the house next Wednesday.
Getting very stressed.

EO2019

When the bank ask for proof of funds for drawdown and you are receiving a gift does this have to be in your account? We have our full 20% survey valuation done and we have all our furniture as second hand buyers. Our solicitors fees are €5k including stamp duty and we are receiving this as a gift from my parents.

Do they have to put this in my account or can they just pay the solicitor?

Emma2019

Emma2019 wrote: »

My vendor got a guy in a few weeks ago say that an extension which doesn't need planning permission meets building regs

Why is this even a thing? Surely people fired up any old sh/te over the years once they didn't need planning permission?

I'd have thought that if a house was extended, and planning wasn't needed, then the bank wouldn't care. But if it was an extension that would have needed permission, then (and only then) they would care about it?

Seems so needlessly frustrating.

brianc27

EO2019 wrote: »

When the bank ask for proof of funds for drawdown and you are receiving a gift does this have to be in your account? We have our full 20% survey valuation done and we have all our furniture as second hand buyers. Our solicitors fees are €5k including stamp duty and we are receiving this as a gift from my parents.

Do they have to put this in my account or can they just pay the solicitor?

When you say proof of funds at drawdown, would all your funds not be gone by that stage, I haven't drawn down yet, I've just gotten loan offer letter and my savings are massively depleted from transferring 10% to solicitor and setting some aside to pay solicitor and stamp duty

CalisGirl

FrankN1 wrote: »

I know it's been asked already but has anyone had any luck drawing down while on probation that's not in the public sector? I've heard a few cases of it and the company wants me to check if there's any banks that may do this.

Haven and Finance Ireland are flexible on probation. They'll look at how stable your industry is and how much experience you have (I e. your enployability). Software Engineering, nursing staff in private nursing homes and frontline HSE workers are ok according to my broker. Not sure about other industries. AIB will accept an application while you're on probation but they won't allow drawdown.

Emma2019

EO2019 wrote: »

Do they have to put this in my account or can they just pay the solicitor?

Yes, you've to show you've enough in your accounts to pay stamp duty and solicitors fees etc when you're submitting drawdown docs so theyll have to transfer in advance. Or they can buy your furniture after the fact.

brianc27

Emma2019 wrote: »

Yes, you've to show you've enough in your accounts to pay stamp duty and solicitors fees etc when you're submitting drawdown docs so theyll have to transfer in advance. Or they can buy your furniture after the fact.

What bank is this with, I was told by my broker all I needed to show at draw down was a most recent pay slip

Busi_Girl08

How much notice do you typically get of your closing date? Or is it a how long is a piece of string kind of question?

Emma2019

brianc27 wrote: »

What bank is this with, I was told by my broker all I needed to show at draw down was a most recent pay slip

PTSB. For drawdown I'd to show 1 month statement from salary mandated account, one months bank payslips and evidence of funds. But as far as I know from mates who have bought and the first time buyer groups on FB, this is standard. They need to know you haven't spent all the money before they agree to lend to you.

Busi_Girl08 wrote: »

How much notice do you typically get of your closing date? Or is it a how long is a piece of string kind of question?

Very much a piece of string and depends on if they're in a chain and have they sorted our their contracts and deeds etc. I ended up just giving notice on my rented house based on a ballpark estimate of closing and making arrangements to stay somewhere if I didn't get keys in time.

zuhuraswa

brianc27 wrote: »

When you say proof of funds at drawdown, would all your funds not be gone by that stage, I haven't drawn down yet, I've just gotten loan offer letter and my savings are massively depleted from transferring 10% to solicitor and setting some aside to pay solicitor and stamp duty

This is what I don't get either when people are saying showing proof of funds at drawdown. Surely at drawdown 10% is already with the solicitor (actually solicitor transfers it to vendors' solicitor way before that after signing contract)? In my case, I would also transferred the property tax/stamp duty etc to the solicitor too and sorted out insurances etc as they were drawdown pre-conditions, so I don't get when people say this too.

EO2019

The bank want to see that you have the funds prior to drawdown before they release the money. They will take into consideration payments already made such as deposit. It’s the balance of funds they want to see in your bank.