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

Brock Turnpike

https://www.boards.ie/discussion/comment/117871244#Comment_117871244

Where did I say I wanted to access to any PII of other bidders? The system is terrible - it should be regulated so only legitimate bids are registered and put on properties, rather than being in a position where (it seems) estate agents can just make up bids to try drive up the price

JimmyVik

https://www.boards.ie/discussion/comment/117871130#Comment_117871130

I guess thats the EAs job though, but it is funny when their clothes fall off.

This EA that my friends are dealing with are ones ive never heard of before.

Maybe they are big locally, but they arent national for sure.

Brock Turnpike

https://www.boards.ie/discussion/comment/117871772#Comment_117871772

The estate agents job isn't too make up bids though. Which appears to be happening.

ec18

https://www.boards.ie/discussion/comment/117871817#Comment_117871817

You've no proof of that. If I'm reading your original post correctly, you went to view a house a twice (?). At the second viewing you were told that there was an offer at 25K below asking. Bidding ensued, now you're more or less out of the running as the bidding has kept going up with more bidders?

Doesn't sound terribly fishy.

'We are now at a point where we are fully stretched budget wise. EA says there are multiple bidders and seems to be playing them all against each other to drive up the price.

It's honestly ridiculous the lack of transparency.'

I'm not sure what you want?

It seems to me that there are people who seem shocked that multiple people could be interesting in the same property.

If you like it someone else will as well? You want access to what? a list of peoples names and bids? What does transparency mean? or is just something to shout cause other people do.

Brock Turnpike

https://www.boards.ie/discussion/comment/117871843#Comment_117871843

What's with the tone there, keyboard warrior?

Why are you jumping to conclusions? Where have I have said that I don't expect other people to bid on a property?

JimmyVik

https://www.boards.ie/discussion/comment/117871817#Comment_117871817

Oh I have no doubt its happening. Im still waiting to hear if the lower bid of that couple I know gets accepted :)

But I dont think its illegal for EAs to throw in fake bids. They do it in auction rooms all the time for other stuff besides houses.

Mad_maxx

Trying to buy a property at auction today and broadband connection completely crashed, missed out on value, didn't have a max bid set

cnocbui

It's been near 9 and a half months, but finally the buyers have signed the contracts.

https://www.boards.ie/discussion/comment/117872198#Comment_117872198

If they do that it bloody should be illegal!!!!!

mcsean2163

https://www.boards.ie/discussion/comment/117871130#Comment_117871130

Isn't there a register of bidders that can be requested?

ec18

https://www.boards.ie/discussion/comment/117871970#Comment_117871970

Apologies, but I've read so many posts on this thread and others that all go, 'the estate agent is making up bids to drive up the price and now I can't afford the house'

You implied that you don't believe that the other bidders are real and seem convinced that the agent in question has made stuff up to drive you out of the bidding or get the price higher, to what end?

there's a supply shortage lots of people looking and some of them will have significant deposits. But everyone blames estate agents and making up bids for missing out on a certain house.

Jmc25

https://www.boards.ie/discussion/comment/117872765#Comment_117872765

I honestly think in the current market there's little to be gained by making up bids.

I'm sure there are cowboy agents that do it but in general I'd say the worst that happens in reality is accepting bids from people the agent knows aren't serious/don't have financing in order to get bidding started or maximise price.

In that scenario, it's very much a case of the agent hasn't actually done anything directly dishonest. And that very much seems to be how estate agents work in general - for example as a vendor they basically don't ask you any info about your property so that when potential buyers ask about anything that might be a sticking point in the sale, they genuinely don't know so don't have to lie.

Pistachios & cream

https://www.boards.ie/discussion/comment/117866609#Comment_117866609

Also 12 weeks here. Sellers live in england so house was empty. Their solicitor was the main issue it took so long. Our solicitor is family and have pushed for things as quickly as possible but there's only so much he can do. Turned our the sellers hadn't the property properly registered in their name so that caused the longest delay. I really do think that its mainly solicitors who hold up the process. If you have one thats reactive rather than proactive it can take ages. Our mortgage is with BOI and they have been very straightforward and quick

Emma2019

I would definitely request updates of bids in writing. If they were making up bids they won't want it put in writing and it's a reasonable ask.

You can also get a friend to ring and enquire as to what the current bidding is at

FouxDaFaFa

Got the keys today. Very happy to be through the process. Thanks to everyone on this thread, I found it really useful. Best of luck to everyone looking and going through the process of closing a sale.

Ferris_Bueller

Is there anywhere it is possible to see what price houses have sold for in the past year or two? I'm probably a couple of years away from buying a house but would like to be able to have a look what houses in certain areas have gone for in the last year or two, particularly new builds.

edit: there seems to be the property price register, but wondering is there anything like a daft.ie which would show photos or locations of the houses for example?

Ilongga

https://www.boards.ie/discussion/comment/117881926#Comment_117881926

Property Price Register will show the actual price the house in a specific area sold for. Once the property is sold their ad is taken offline from daft and myhome. But what I found lately is, if you note the property address and Google it, the ad still comes up especially for properties where online brochure was created for them by Estate Agents.

CAMAC

I may have just confused myself, but can anyone explain who we pay our deposit to? So we’ve signed contracts on a 2nd hand, we payed a holding deposit to the EA initially on going sale agreed. Then on signing contracts we sent 10% minus this holding deposit to our solicitor to send to vendor’s solicitor. BUT our deposit is actually about 18% in it’s entirety so where does the remaining deposit go? It’s in a savings account and not the current account of direct debit mandate is coming from, should it be transferred to our current account and the bank just takes it out?

Jafin

https://www.boards.ie/discussion/comment/117883840#Comment_117883840

Just send what you're required to first and keep the rest until near closing. I paid more than 10% myself so the way it worked is that the estate agent asked for a booking deposit of 5k. A while later my solicitor requested the remaining amount to bring it up to 10% (so €6,300 as the 10% deposit was €11,300 in total) and then on the week of closing my solicitor requested the rest of the money to make up my portion of what I was paying. You never send any money to the bank, all of it (except the initial booking deposit with the EA) goes through your solicitor.

CAMAC

https://www.boards.ie/discussion/comment/117883858#Comment_117883858

Brilliant, thanks for that clarification. This is exactly what I had hoped would happen. Was concerned that maybe in our first transfer to our solicitor we were meant to send the full amount and he had just taken a default 10% minus holding. Phew

Lord Spence

Hi All, just found this thread and probably in the nick of time, we are in the middle of looking for a new house and have mortgage approval in principal from PTSB, The issue is we have to sell our house at the same time and we cant sell before buying as we would have no where to live in between. Just wondering has anyone been in this position and any advice, we are going to view a house tomorrow so I think I will be a regular here for the next few months, dreading it but excited at the same time.

Emma2019

This is par for the course. It's called being in a chain, there have been recent threads on it if you scroll down or search.

You basically have to find a buyer who is willing to wait until you've sorted out everything with your other purchase and then the two sales close on the same day and you move out that day. Generally it's easier if you can store your stuff for a few days and stay with family/hotel to avoid any complications as a result of delays with either sale.

First step is to request your deeds from the bank as that can take up to two months. Also it is unlikely you will be accepted as a bidder on a house until you are sale agreed for your property so get talking to an estate agent straight away too.

Chain sales can be frustrating and take a long time.

https://www.boards.ie/discussion/comment/117884483#Comment_117884483

Lord Spence

https://www.boards.ie/discussion/comment/117884807#Comment_117884807

Thanks, yes I have been speaking to an EA and they are the same EA as the house we are looking at tomorrow. Its an awkward situation as obviously we don't want to go sale agreed on our house unless we have another house sorted it seems a catch 22, there doesnt seem like a lot of houses either that we would be interested so supply of what we are looking for is quiet small. I will check out the other threads to thanks.

Ilongga

https://www.boards.ie/discussion/comment/117884483#Comment_117884483

I’m in the exact situation. Was hesitant to sell as we are not certain if there would be a suitable property to buy after our house is sold. However we found out easily that no one will take our bid upon knowing that we are in a chain and that our property is not even in the market yet. So we got the house ready, engaged our solicitor, requested the title deeds and put our house up for sale. While the bidding ensues on our house, we are also actively bidding on properties we like. We aggressively bid on the property we liked most and the vendor accepted our offer on the same day we accepted the highest offer for our house. We got lucky with that one. But for other properties, they advised us that we should be on advanced stage of our house sale before we start bidding.

JimmyVik

https://www.boards.ie/discussion/comment/117885045#Comment_117885045

If they suggest you selling first and then renting while you are waiting to get a bid accepted dont do it.

Imagine you sold your house and started renting until you get another and then one of you got made redundant. You wont get a mortgage for at least 6 months after getting another job probably a year if you have to do probation. House prices keep rising and you are stuck with no house and the market has run away on you.

Lord Spence

https://www.boards.ie/discussion/comment/117885238#Comment_117885238

Yes agree, I have kids and the school is very close to where we live, not a hope I would rent.

Would it be cheeky on a buyers behalf to ask a seller to remove an old, disconnected, fuel tank before closing? Or is it the buyers problem?

ec18

https://www.boards.ie/discussion/comment/117885510#Comment_117885510

ask, worse they do is say no.

LBF21

topical discussion earlier regarding selling house before purchasing another as we're finding trading up a nightmare. Thought we had the perfect house last week only to find out that a first time buyer had offered 5k more and it was accepted and the vendor wasn't interested in a counter offer. All very frustrating after viewing house twice bidding a few times and then a first time buyer does us at the last minute. I wouldn't mind but I reckon we could sell our own house in a matter of weeks.

Lord Spence

https://www.boards.ie/discussion/comment/117885897#Comment_117885897

Yeah I'm trying to prepare myself for the pain