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

givyjoe

givyjoe wrote: »

Dear god, if you don't understand by now. I give up. Best of luck with your search.

The search is done, thanks. I won the bidding war and we draw down this week.

givyjoe

[Deleted User] wrote: »

The search is done, thanks. I won the bidding war and we draw down this week.

So why are you here wasting everyones time picking pointless arguments?

J0hnick

Has anyone here dealt with Finance Ireland ?, any idea how long it takes them to draw down funds ?. All paperwork and contracts for the sale of my property were signed a month ago, yet they still haven't released the funds to the purchaser.

tobsey

givyjoe wrote: »

why would or should I give a hoot what suits the seller?! Or the EA, or the agent?! Are you new to the process of buying a house? because none of the above are in any way concerned what's preferable for you. I'd wager you haven't been involved in any, or many bidding wars judging from the above, but your last sentence makes absolutely zero sense, what is calling to register an interest BUT engaging?!

If you had been involved in any bidding wars, you'd at least have some idea why this would be preferable for an individual. As I said, in most cases it's not practical as the agent won't call you back. However, if the agent knows you from a half dozen or so previous bidding wars, they're likely to be far more amenable to the above, knowing you're a genuine buyer who might help them get a deal done, precisely this scenario Ivr had in the last week "seller will accept this price, it's at X now, are you interested..".

I’m in the process of buying and selling. My house had a bidding war on it so I’m glad the agent did whatever it took and got me the best price, around 15% over asking. I lost one bidding war and won the second one, it took 20% over asking to win that. So I’ve seen it from both sides. You said you wanted to sit back and wait until there was one bidder left and then decide if you want to bid higher. I said that agents are less likely to deal with people in that situation. There are people posting here about all these things they want to see to make buying easier for them. I just made the point that that are two parties to every transaction, and I’m not sure why things should be done to help one side over the other. If someone out there was willing to pay 15% over asking to buy my house then that’s what it’s worth. How we end up there isn’t too important for me, that’s what I paid the agent for.

o1s1n

standardg60 wrote: »

Many congrats.

Was hardly the one with the 'offer the asking' EA was it?

You're not going to believe this but It was!!

We didn't quite get it for asking, they countered with an offer a little higher (which was still a great price) and we absolutely leapt on it.

standardg60

o1s1n wrote: »

You're not going to believe this but It was!!

We didn't quite get it for asking, they countered with an offer a little higher (which was still a great price) and we absolutely leapt on it.

Ah you see, he had your name on it. Good things happen to good people, delighted for you!

Ace2007

tobsey wrote: »

I’m in the process of buying and selling. My house had a bidding war on it so I’m glad the agent did whatever it took and got me the best price, around 15% over asking. I lost one bidding war and won the second one, it took 20% over asking to win that. So I’ve seen it from both sides. You said you wanted to sit back and wait until there was one bidder left and then decide if you want to bid higher. I said that agents are less likely to deal with people in that situation. There are people posting here about all these things they want to see to make buying easier for them. I just made the point that that are two parties to every transaction, and I’m not sure why things should be done to help one side over the other. If someone out there was willing to pay 15% over asking to buy my house then that’s what it’s worth. How we end up there isn’t too important for me, that’s what I paid the agent for.

But you don't actually know if the agent got you the best price, he got you 15% over, perhaps another agent would have gotten you 20% more.

And this idea that it was the agent isn't really relevant, as its the fact there were multiple bidders that got the price up , unless the EA was saying there were bidders when there wasn't - which isn't very ethical etc - and is one of the reason why a more transparent system should exist.

Would it bother you for instance if the property price register didn't exist, and you had no idea what house prices were going for?

99nsr125

Red Silurian wrote: »

I've never heard of a lower bid being accepted but I have heard of vendors not wanting to sell to investors or councils under any circumstances. Some vendors are selling a family home after the death of a parent and want to see it taken care of, just as their parents would have. They might also still know a lot of their old neighbours so would take that into consideration.

I know a lady who sold a house near us to the council and one of the first things they did was rip out the 6 month old kitchen to put a new one in, such a small thing but it gave the impression that the council don't care about what some sellers consider to be sentimental value

Obviously if they are selling to somebody they know the situation improves even more for them

Not an investor, it was wanted as a family home

I'm suspicious of agent now

99nsr125

Dodge wrote: »

Happens quite a lot from talking to friends and family in the market at the moment

A cash buyer might get it ahead of a first time buyer. A first time buyer might get it ahead of someone in a chain. We made an offer at an asking price but it wasn’t even considered as we were waiting to sell our house

Money isn’t the only consideration when selling a house. Speed and security come into play, particularly if you’ve previously gone sale agreed and it fell through

Well, we're not in a chain.
Funds in place

All good on our end, funds, solicitor, surveyor and so on.

random_banter

Hey everyone, welcome back. I've missed the outlet to read and take part in discussions on the current state of buying and selling!

Well after our last huge disappointment and getting the run around from a seller, we've found another one we're quite serious about. We are first bidders but have heard nothing back or an acknowledgement yet - I'm guessing it's alright to follow up 24 hours later seeking at least an acknowledgement?

I have a feeling this one could be one of those 20% over houses given the current climate. But sure if you're not in, you can't win.

cintec

Could have used some advice the last few days but the good news is myself and the vendor have signed the contracts and will close the sale at the end of the month. Finally I can celebrate and get organised.

Retr0gamer

Anyone know how long the HTB process takes. My application has been in pending for a while now and just wondering what other peoples experience was?

HerrKapitan

https://boards.ie/discussion/comment/117613773#Comment_117613773

It was about 4-5 weeks for us, early in the year.

Alwandy

Hi,

So as I mentioned before my build got extended so my letter of offer will expire. Now, the builder said they're happy to do subject to financing clause as they understand and talking to my bank they are happy to reissue another offer in December to give me room in case build gets delayed again. Problem is that my solicitor is profusely refusing to let me sign the contract as she says she cannot do that for legal reasons. Is this correct? Am I not able to sign it until I have a new valid letter of offer? Or can I just overstep and tell them just to do it?

Thanks,

Littleredcar

Advice needed

accepted an offer from a pension fund for Dublin house in October partly because offering quick sale .

issue with porch not having planning

contracts still not signed other side came back on on Feb and said they needed retention planning but would pay . I agreed on the grounds it would be quick .

still not applied for meanwhile everything I’m bidding on is increasing in price

should I go back to the market

silver_sky

I'd go back to the market unless anything is signed, or you've agreed something far in excess of what you'd get.

ms vieria

Got keys last week to our house - stressful as all have said but a very quick turn around. 8 weeks from bid to closing.

No chain which obviously sped things up. Paid a bit more than some said here for the solicitor but she was available at all times and quick to get back to us.

Helped to keep us calm when we weren't sure if things would happen.

PikaTuam

Hi all, first time posting here but we had our bid accepted hoping to draw down soon. First time buyers(myself and wife) so it's great to finally get things moving forward.

We had to pay slightly above what we wanted but it's a seller's market and the vendor wasn't in a rush as he wasn't in a chain. He was holding out for the right offer. The location is good for us and we can grow into the place over time doing work as we go along. Central to town, good condition but needs modernising, detached with a decent amount of space in the garden and area is quiet.

As I said before, I’ve left the market for a while. But had to laugh today. An EA rang me up. A house I’d bid on that was priced at 290, (fair price given the area, ppr history, other recent sales etc) went sale agreed at 365 after a crazy bidding war. The buyer now hasn’t been able to complete it, back on the market at 345. Safe to say I ran a mile.

klose

Does the sale price go on the property register website regardless or is it a choice of the buyer?

random_banter

Great to see posters here getting through the buying process with keys in hand!

We are now bidding on what we think is our dream family home. And willing to go the extra mile for it - that's kind of how we know it's the one for us! Trying not to lose the head but the bidding process is so stressful, it's hard to know what's the right bid increment to put in, when, and how long to leave in between bids when there's other bids involved. Don't want to drive the price up early on in the selling process either. Every sale is different so you can't really predict what strategy will work.

https://boards.ie/discussion/comment/117614758#Comment_117614758

fine_12345

I'm interested to get other people's takes on this, from those that are house hunting. I've read about house inflation supposedly hitting around 10% this year and seems to have been basically flat last year. However, it looks more like inflation is up to almost 25% from Jan 2020 mainly in the last month? I was generally of the impression that supply will not really recover significantly for at least a year and prices should continue to rise by a few percent until then. But it seems to have gone to the moon. I'm also only looking at the second-hand market when the inflation figures include all property, which may account for the difference.

brianc27

got word from bank yesterday that funds will be released within 48hrs, so solicitor should have it by monday, hopefully only a few more days before i can get the keys then, huge relief to get that done and dusted, my house buying experience has been fairly straight forward (once i went sale agreed), took about 12 weeks to get to this point, not in a chain but still fairly stressful experience, first time buyer so had no real idea what i was doing, the last week has been particularly stressful waiting for the bank to release funds, took about a week and a half to get confirmation, had myself convinced id made a bollix of something and the bank werent happy

brianc27

https://boards.ie/discussion/comment/117619616#Comment_117619616

theres no right or wrong way of bidding on a house but personally i found only bidding on 1k increments and not stalling between bids worked for me, i replied straight away to the estate agent with another 1k bid, while the other bidders would take hours to get back, i knew my limit and wanted the house so didnt see any point stalling, i feel this helped me win out in the end

https://boards.ie/discussion/comment/117622499#Comment_117622499

I’m waiting a week so far from the point that everything was ready, solicitor requested release of funds and final checks being done by the bank. I’m told it could be another few days. The banking system in Ireland is just so so slow…..final checks for a routine transaction, no chain, within all parameters, everything in place, shouldn’t take 10 days. Shambolic. This process has left me with even less respect for the Irish banks than I thought was possible. So much faster in the UK.

Alwandy

https://boards.ie/discussion/comment/117619951#Comment_117619951

Sorry, you just quoted my message :D Anything you said?

Emma2019

https://boards.ie/discussion/comment/117618830#Comment_117618830

They all go up.

Someone said ages ago on this thread that council sales don't but there wasn't really any evidence for that as there's no set time for them to appear.

A friend went sale agreed in Jan but I don't think her sale will show up until late November at the earliest at this stage. Mine was 4 months from sale agreed to appearing on the register.

Emma2019

https://boards.ie/discussion/comment/117622594#Comment_117622594

I think it also helps if your broker and solicitor front load everything. Mine had everything in as soon as it was ready so when I requested funds it was only a day or two wait.

Wouldnt mind hearing how long it took people who bought maybe 2 years ago because by all accounts the mortgage departments of all the banks are overrun at the mo.

https://boards.ie/discussion/comment/117622627#Comment_117622627

No, just can’t work this bloody site on the iPhone. Sorry