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

javaboy

Jafin wrote: »

Hi all, just after a bit of advice. I'm currently sale agreed on an apartment and just got my survey back. Thankfully there is nothing major, mostly just cosmetic stuff needed like the place needing to be painted throughout. The only real issues listed are that the sealant on the shower is poor quality and needs replacing, the bathroom extractor fan should be on a 15 minute delay to avoid condensation build up and that one of the bedroom windows needs to have the hinge and locking mechanism repaired.

Is there any point in presenting this to the estate agent to ask the seller to carry out the repairs or re-negotiate the price? I was lucky enough to get the property under asking so I will have money left over after moving in to carry out any necessary repairs but these issues seem quite minor to the point that I wouldn't mind just getting them done myself after the sale has gone through.

I wouldn't ask them to do anything about these issues. That's a pretty clean survey tbh. Might be worth asking the surveyor if there was significant water damage/leaks due to the sealant issue.

tigger123

Jafin wrote: »

Hi all, just after a bit of advice. I'm currently sale agreed on an apartment and just got my survey back. Thankfully there is nothing major, mostly just cosmetic stuff needed like the place needing to be painted throughout. The only real issues listed are that the sealant on the shower is poor quality and needs replacing, the bathroom extractor fan should be on a 15 minute delay to avoid condensation build up and that one of the bedroom windows needs to have the hinge and locking mechanism repaired.

Is there any point in presenting this to the estate agent to ask the seller to carry out the repairs or re-negotiate the price? I was lucky enough to get the property under asking so I will have money left over after moving in to carry out any necessary repairs but these issues seem quite minor to the point that I wouldn't mind just getting them done myself after the sale has gone through.

I certainly wouldn't. If they're the only issues, as another poster said, that's a pretty excellent survey tbh.

Also, there's always going to be small maintenance costs when you own a property, and that's what these are. Next year it will be three other minor things you have to pay for, and the year after that, etc, etc.

(Just FYI; some bathroom extractor fans can be altered very easily with a switch internally to change the amount of time they run for after you turn off the light; may not even need to be replaced).

Jafin

javaboy wrote: »

I wouldn't ask them to do anything about these issues. That's a pretty clean survey tbh. Might be worth asking the surveyor if there was significant water damage/leaks due to the sealant issue.

tigger123 wrote: »

I certainly wouldn't. If they're the only issues, as another poster said, that's a pretty excellent survey tbh.

Also, there's always going to be small maintenance costs when you own a property, and that's what these are. Next year it will be three other minor things you have to pay for, and the year after that, etc, etc.

(Just FYI; some bathroom extractor fans can be altered very easily with a switch internally to change the amount of time they run for after you turn off the light; may not even need to be replaced).

Thank you both. That's basically what I was thinking but just wanted to make sure. Re: water damage - the survey didn't say there was any water damage, and made a point of saying that no dampness had been detected in any area of the property at all, so I presume that means there's no water damage. If there had been I'm sure he would have mentioned it.

Anyway I'll just get these maintenance things done after the sale has been finalised. Thank you both again.

errlloyd

Going into the solicitor to sign the contract tomorrow. Absolutely delighted.

Does anyone know of what my expectation should be in terms of getting the keys?

cubatahavana

errlloyd wrote: »

Going into the solicitor to sign the contract tomorrow. Absolutely delighted.

Does anyone know of what my expectation should be in terms of getting the keys?

for me it was 4 weeks to have everything finalized.

You sign, your solicitor sends contracts, thn vendors sign and your solicitor gets contracts back. This could be anything from 1 week to months if the vendors delay the signing.
Once everything is signed, you agree a closing date (usually 4weeks, but it can be faster)
Drawdown can take 5 days or so

So basically, it depends on how much of a hurry the vendor is in

Busi_Girl08

Vendor's solicitors have the contracts ready to go, banks holding things up with the title documents. Sounds like it's a universal thing at the moment. Waiting about 6 weeks now. The v solicitors are expecting them soon so fingers crossed!

Turkish1

Aisling(",) wrote: »

KBC requested to see our solicitors fees/stamp duty in accounts before draw down.

Same here with KBC, funds being requisitioned on Thursday.

silver_sky

Hope to be closing soon on a new build purchase. Quick q - should the final valuation only be done after snagging is complete and issues are addressed?

Busi_Girl08

Turkish1 wrote: »

Same here with KBC, funds being requisitioned on Thursday.

Just wondering is thing basically the balance of all funds available? Ie if there is enough in the balance for the balance of the deposit and the solicitor fees stamp duty etc would that suffice, or does there need to be a separate transaction marked out for the latter?

DarraghR

Hi all. I am currently awaiting my full mortgage approval and results of valuation of the property I am buying.

The mortgage advisor I was originally with has left the bank to work somewhere else. She was really nice , friendly and approachable so it was sad to see her go during the process.

Her replacement is quite the opposite. He sounds very unorganized and professional on the phone and has never arranged a phone call to check up or discuss anything. I always have to ask the questions and go chasing him.

The valuation results were received on the banks end over 2 weeks ago but still no information provided to me. Is that not a long time to be waiting?

There was a slight hold up with confirming the full mortgage approval due to increase in value of property but this was cleared up and confirmed by the mortgage advisor.

Is there any kind of rough timeline as to how each stage of the process should take? Would I be mad to get in touch with someone else in the bank for updates? I dont want any hassle from this mortgage advisor and talking to someone else might hurt his pride.

Approval in principal, sale agreed and holding deposit paid 3 weeks ago. Trying to hold off with the structural structural surveyance in case the full approval does not come through.

Busi_Girl08

The mortgage advisor could be waiting for the loan pack to come through? This took a couple of weeks for us (we went through a broker).

I wouldn't hold off too long on the structural survey to be honest, better to work away on the things you can work away on to be prepared and avoid any further hold-ups?

Roberto_gas

Bid on a property for 360k against listed price of 330K in south dublin ! Here is how it went.

1) Told by EA that highest bid is 380K....do you want to bid above ? I said No.
2) Contacted couple of days back saying 380K has been withdrawn so you are in top 3 bidders. Viewed the property. Small and had attic included in the total area.
3) Told during viewing that its fully unfurnished !
4) Withdrew the bid as it was not even worht 330K to start with i would say.


**************************4 Weeks later **********

Property listed again for 345K with different address !
Contacted EA and they said fund who was buying backed out due to 10% stamp duty rule are you interested. I said yes my bid value would be 300K.


Irrespective some dodgy practices there in the market and in no mood to buy anything in near future !

klose

Roberto_gas wrote: »

Bid on a property for 360k against listed price of 330K in south dublin ! Here is how it went.

1) Told by EA that highest bid is 380K....do you want to bid above ? I said No.
2) Contacted couple of days back saying 380K has been withdrawn so you are in top 3 bidders. Viewed the property. Small and had attic included in the total area.
3) Told during viewing that its fully unfurnished !
4) Withdrew the bid as it was not even worht 330K to start with i would say.


**************************4 Weeks later **********

Property listed again for 345K with different address !
Contacted EA and they said fund who was buying backed out due to 10% stamp duty rule are you interested. I said yes my bid value would be 300K.


Irrespective some dodgy practices there in the market and in no mood to buy anything in near future !

There really is no transparency in bidding, all bids really should be logged with relevant AIP info and forwarded to solicitor as part of the purchase to make sure there is nothing funny going on.

Nika Bolokov

I think there is a lot of funny business going on with agents at the moment as they know exactly how high you can bid and can suss out how interested you are and guess how high you'll go. If they guess wrong, they just say oh the other bidder pulled out.

DarraghR

Hi all. I am currently awaiting my full mortgage approval and results of valuation of the property I am buying.

The mortgage advisor I was originally with has left the bank to work somewhere else. She was really nice , friendly and approachable so it was sad to see her go during the process.

Her replacement is quite the opposite. He sounds very unorganized and professional on the phone and has never arranged a phone call to check up or discuss anything. I always have to ask the questions and go chasing him.

The valuation results were received on the banks end over 2 weeks ago but still no information provided to me. Is that not a long time to be waiting?

There was a slight hold up with confirming the full mortgage approval due to increase in value of property but this was cleared up and confirmed by the mortgage advisor.

Is there any kind of rough timeline as to how each stage of the process should take? Would I be mad to get in touch with someone else in the bank for updates? I dont want any hassle from this mortgage advisor and talking to someone else might hurt his pride.

Approval in principal, sale agreed and holding deposit paid 3 weeks ago. Trying to hold off with the structural structural surveyance in case the full approval does not come through.

cubatahavana

silver_sky wrote: »

Hope to be closing soon on a new build purchase. Quick q - should the final valuation only be done after snagging is complete and issues are addressed?

Valuation is independent of snagging. Shouldn’t be affected. Can be done before

Turkish1

Busi_Girl08 wrote: »

Just wondering is thing basically the balance of all funds available? Ie if there is enough in the balance for the balance of the deposit and the solicitor fees stamp duty etc would that suffice, or does there need to be a separate transaction marked out for the latter?

Yes it is to ensure totality of funds available to complete and pay stamp and legal.. ie it was worded as follows:

Balance of funds required to complete the purchase, including associated costs is EUR xxx,xxx. KBC are satisfied with EUR xxx,xxx
evidenced in accounts to date. Solicitor to confirm net sale proceeds of property EUR xxx,xxx and same to be lodged into applicants
bank account.

We were selling a house also so hence the reference to net sale proceeds (after EA fees - they put €10k in for those). The funds required to completed included the stamp and a reasonable level of legal fees

Red Silurian

Ace2007 wrote: »

And if it doesn't sell, in 8 months time people viewing it will be thinking there is something wrong that it's being left that all this time etc. A cash buyer will also know that you won't be able to sell to a decent % of the population and so can lowball the offer.

We just got outbid on a house that we thought was within our budget... Last I checked it went 21k above asking price and still seems to be climbing

The market is shagged at the moment, you'll get your price no matter what, and if you're not happy with the price you don't have to sell. Until the papers are signed nothing is final

CalisGirl

Landlord21 wrote: »

Also, how is this enforced? If I don't sell BUT tenants move out, they are hardly going to re-rent from me as they would've have signed a new lease. Seems a bit of a loophole there.

If I don't sell, I believe I need to inform tenants and can't be seen to tell them im selling purelyto get them out?

It may be worth giving PRTB a call to investigate how to go about this. From their website, https://www.rtb.ie/ending-a-tenancy/how-a-landlord-can-end-a-tenancy/landlords-grounds-for-ending-a-tenancy it seems the key part is you fully *intend* to sell the house, not whether the house is actually sold as you can't be responsible for the market. Cases to this effect appear on a Google search.

You'll need to sign a Statutory Declaration of Intent to sell, witnessed by a notary/solicitor/Commissioner of peace. This gives a pretty good template of Statutory Declaration: https://www.auctioneera.ie/should-i-remove-my-tenants-before-putting-my-property-up-for-sale

PRTB is probably your best bet. You would have registered the tenancy with them anyway prior to giving notice.

some random drunk

Roberto_gas wrote: »

Bid on a property for 360k against listed price of 330K in south dublin ! Here is how it went.

1) Told by EA that highest bid is 380K....do you want to bid above ? I said No.
2) Contacted couple of days back saying 380K has been withdrawn so you are in top 3 bidders. Viewed the property. Small and had attic included in the total area.
3) Told during viewing that its fully unfurnished !
4) Withdrew the bid as it was not even worht 330K to start with i would say.


**************************4 Weeks later **********

Property listed again for 345K with different address !
Contacted EA and they said fund who was buying backed out due to 10% stamp duty rule are you interested. I said yes my bid value would be 300K.


Irrespective some dodgy practices there in the market and in no mood to buy anything in near future !

I'm pretty sure I know the house you're talking about. The ad makes it look a decent size but you are correct the attic space has been included in the advertised floor space which shouldn't be allowed as it doesn't count as living space as far as planning is concerned. That estate is to my knowledge an ex council estate and I was concerned about whether it's a rough area as the surrounding area would have had a bad name when I was growing up.

I googled the address and found recent (this year) news reports of pipe bombs and a teenager nearly kicked to death by a mob in one of the front gardens a few doors down. The price they are looking for is insane. A house there sold in 2017 for 235k according to the PPR, so if you go by the current asking price of 345k that's a 47% increase in just 4 years. This was my f*ck the market, I'm out house! :pac:

Sweet.Science

some random drunk wrote: »

I'm pretty sure I know the house you're talking about. The ad makes it look a decent size but you are correct the attic space has been included in the advertised floor space which shouldn't be allowed as it doesn't count as living space as far as planning is concerned. That estate is to my knowledge an ex council estate and I was concerned about whether it's a rough area as the surrounding area would have had a bad name when I was growing up.

I googled the address and found recent (this year) news reports of pipe bombs and a teenager nearly kicked to death by a mob in one of the front gardens a few doors down. The price they are looking for is insane. A house there sold in 2017 for 235k according to the PPR, so if you go by the current asking price of 345k that's a 47% increase in just 4 years. This was my f*ck the market, I'm out house! :pac:

Ah you can't say all that and not link the property !

ionapaul

Very disappointing few days here; we're selling our property (3-bed in South Dublin) and trading up to a bigger one. We've been sale agreed on a lovely house in Dublin since mid-April, paying a few % over the asking and a very strong price compared to 2019/2020 sales of similar properties (probably 10%-15% higher, such is the market). No contract all this time, despite lots of pushing.

EA came back to us very apologetically, letting us know the sellers of the house think they agreed too quickly to sell back in April (we won the usual bidding war, all fair and square), the market has 'moved on' and they want a good 5%-10% more before they'll consider closing!

We're not going to meet their new requirement and are back to square one, with the added knock on that we will quite likely lose our own buyers as they do not want to wait around for us to find somewhere new and get that process underway. Totally understand this since they've been sale agreed since end of March and being told now that the closing date is open for now due to the circumstance.

Obviously lots of time, effort and money spent along the way too, sigh.

houseyhouse

ionapaul wrote: »

Very disappointing few days here; we're selling our property (3-bed in South Dublin) and trading up to a bigger one. We've been sale agreed on a lovely house in Dublin since mid-April, paying a few % over the asking and a very strong price compared to 2019/2020 sales of similar properties (probably 10%-15% higher, such is the market). No contract all this time, despite lots of pushing.

EA came back to us very apologetically, letting us know the sellers of the house think they agreed too quickly to sell back in April (we won the usual bidding war, all fair and square), the market has 'moved on' and they want a good 5%-10% more before they'll consider closing!

We're not going to meet their new requirement and are back to square one, with the added knock on that we will quite likely lose our own buyers as they do not want to wait around for us to find somewhere new and get that process underway. Totally understand this since they've been sale agreed since end of March and being told now that the closing date is open for now due to the circumstance.

Obviously lots of time, effort and money spent along the way too, sigh.

That's terrible behaviour. I mean I can understand in a way if they need the money and they've seen a neighbour get 10% more or something like that but still it's very bad form.

Red Silurian

ionapaul wrote: »

Very disappointing few days here; we're selling our property (3-bed in South Dublin) and trading up to a bigger one. We've been sale agreed on a lovely house in Dublin since mid-April, paying a few % over the asking and a very strong price compared to 2019/2020 sales of similar properties (probably 10%-15% higher, such is the market). No contract all this time, despite lots of pushing.

EA came back to us very apologetically, letting us know the sellers of the house think they agreed too quickly to sell back in April (we won the usual bidding war, all fair and square), the market has 'moved on' and they want a good 5%-10% more before they'll consider closing!

We're not going to meet their new requirement and are back to square one, with the added knock on that we will quite likely lose our own buyers as they do not want to wait around for us to find somewhere new and get that process underway. Totally understand this since they've been sale agreed since end of March and being told now that the closing date is open for now due to the circumstance.

Obviously lots of time, effort and money spent along the way too, sigh.

At least you already have a house, be glad that you are in a better position than most at this stage of the game

ionapaul

ionapaul wrote: »

Very disappointing few days here; we're selling our property (3-bed in South Dublin) and trading up to a bigger one. We've been sale agreed on a lovely house in Dublin since mid-April, paying a few % over the asking and a very strong price compared to 2019/2020 sales of similar properties (probably 10%-15% higher, such is the market). No contract all this time, despite lots of pushing.

EA came back to us very apologetically, letting us know the sellers of the house think they agreed too quickly to sell back in April (we won the usual bidding war, all fair and square), the market has 'moved on' and they want a good 5%-10% more before they'll consider closing!

We're not going to meet their new requirement and are back to square one, with the added knock on that we will quite likely lose our own buyers as they do not want to wait around for us to find somewhere new and get that process underway. Totally understand this since they've been sale agreed since end of March and being told now that the closing date is open for now due to the circumstance.

Obviously lots of time, effort and money spent along the way too, sigh.

I know that this would make you bitter, and only exacerbates the problem, but have you considered what else there is out there and where the market generally might move? Might paying up the extra be worth avoiding the heartache and time of starting all over on a new property that might not be as desirable, and might have been floated even higher by the rising market?

I am hopefully about to close the deal on a place. But a month or so ago the vendors announced they were withdrawing. Long story short, they are back in and exchanged contracts. But at the time, when I thought it was about going back to the market for more money, I spent a day balancing up the extra cost and resentment, against the extra time, the risk of not finding anywhere else affordable, the whole market continuing to rise etc. I reluctantly concluded that I would meet them at the level they wanted. It didn’t come to that as it wasn’t about money, but the thought process was valid

ionapaul

Deleted User wrote: »

I know that this would make you bitter, and only exacerbates the problem, but have you considered what else there is out there and where the market generally might move? Might paying up the extra be worth avoiding the heartache and time of starting all over on a new property that might not be as desirable, and might have been floated even higher by the rising market?

You definitely have a point and there's little out there for sure, and we're not going to look for extra for our sale as don't believe in changing the terms of a deal like that, so possibly being 100% dispassionate about it rustling up the extra dough might be the easiest option... but we're not going to do it. I honestly would find it hard to live with the decision to enable the behaviour. Maybe I'm being an idiot!

Dodge

Red Silurian wrote: »

At least you already have a house, be glad that you are in a better position than most at this stage of the game

There’s no need for this at all. It’s OK for someone to be pissed off at being messed around without having to feel guilty about owning a house…

ionapaul

ionapaul wrote: »

You definitely have a point and there's little out there for sure, and we're not going to look for extra for our sale as don't believe in changing the terms of a deal like that, so possibly being 100% dispassionate about it rustling up the extra dough might be the easiest option... but we're not going to do it. I honestly would find it hard to live with the decision to enable the behaviour. Maybe I'm being an idiot!

Not an idiot. Just more principled than I was prepared to be

thegreatescape

Got the call from mortgage lender today that funds have been approved and should get my keys early next week, yay! I was just wondering if anyone knew what the story is with setting up electricity, gas etc? I had my final viewing this week and noticed the electricity had been turned off and I'm not sure how to go about getting all this set up when I move in. Any advice would be appreciated.

DarraghR

Me and my fiancee were approved for a loan, house found, deposit paid and valuation completed. One term is that neither of our companies of employment are in any way on the Employment Wage Subsidy Scheme. The government has extended the scheme till December so it is what it is. We are heart broken to say the least but still fighting to try and get passed this before we loose the house we worked so hard to find. As she is the primary income earner and only her company is on the EWSS this has stopped us progressing any further.

Our solicitor suggested looking into a broker as they may be able to pinpoint a bank that will be more lenient with the EWSS. Can anyone recemmond this straghty or have any experience under the same circumstances? Which broker is a good one to try?

Thanks in advance for any help or information that can be given.