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

cunnifferous

Just wondering what to expect from the mortgage protection insurance. Is it just forms or do they actually want you to do a medical?

houseyhouse

https://www.boards.ie/discussion/comment/118055385#Comment_118055385

I’ve bought twice. First time there was a medical, second time there wasn’t. My impression the second time was that we could be sent for a medical depending on the answers in the forms.

C14N

https://www.boards.ie/discussion/comment/118055385#Comment_118055385

My partner and I went through this recently with 4 different providers (some direct, some with brokers). None of them asked for any medical tests or anything, but they all wanted to get a GP report for her as she had some health issues (I've never had any problems so none asked for anything from me). Unless you have a 100% clear medical history though they will probably want this and it's a slow process so get on it as soon as you can I would say.

Brock Turnpike

Anyone have any experience in taking the approach of matching the highest bid during a bidding war? Seems EA will always ask you to make a higher offer. But if it's down to the final two people bidding, if you simply state that you will match the offer, is there a potential for this to stop the price from spiraling?

JimmyVik

https://www.boards.ie/discussion/comment/118057662#Comment_118057662

Thats what I would do if i was a cash buyer. Or maybe just €1k above it.

Probably good to ask the EA who you are bidding against too. If they wont tell you its a FTb cash bidder, trader upper etc then assume its a co council and just bail out.

Jafin

https://www.boards.ie/discussion/comment/118057662#Comment_118057662

I don't have experience in it myself but if the other person is at their absolute limit and the sellers are willing to accept that offer then yes, it could potentially stop the price going higher. As to which of the two bidders actually "wins" could depend on a number of factors. A cash buyer who isn't in a chain versus someone who is getting a mortgage and/or is in a chain would be the obvious choice as the sale should, in theory, be quicker. If you're going to match the highest offer you will probably need to make a case as to why you're the more attractive buyer.

houseyhouse

https://www.boards.ie/discussion/comment/118057662#Comment_118057662

But the price will keep going up until one of you hits your limit even if only in small increments. The only advantage of matching would be if you had the exact same upper limit. It would also slow the process down which might make you/them think more clearly and carefully about your bids but on the other hand it could irritate the other bidder/the estate agent/ the seller and who knows what the consequences of that could be? You don’t want the estate agent to think you’re a messer - they’ll be advising the seller who to go with and it’s not always as simple as the highest bidder.

C14N

https://www.boards.ie/discussion/comment/118057662#Comment_118057662

I don't really see the point tbh. Turning the perspective around, if I was the highest bidder and someone else "matched", then unless I was already at my limit, I'd just go up a bit higher again, so you aren't really going to do anything to stop the price from going up eventually. Seems like all you're really doing is slowing the process down compared to bidding up, and unless there's some compelling reason for the other seller to pick you (such as you are a 100% cash buyer) then there's no reason to think you'd be likely to be picked being the second person to make the same offer.

JimmyVik

https://www.boards.ie/discussion/comment/118058393#Comment_118058393

I guess if the other bidder was at their limit and you bid €10k more instead of 1k more and get your offer accepted then you just threw away €9k

The Davestator

https://www.boards.ie/discussion/comment/118057793#Comment_118057793

i certainly wouldnt bail of it was the council.

My experience is that the companies who buy houses to let to the council make an offer and that is it. They don't get involved in any more bidding. The problem is, their first bid can be a good bit over asking and scares people away.

Cash_Q

https://www.boards.ie/discussion/comment/118055353#Comment_118055353

Edit to add - the sale falling through is a nightmare for you, sorry to hear it, but the house sounds great !

send me the link in a PM if allowed, I know genuine buyers (family) looking in the area who can move quickly, no chain.. I'm sure that's not why you posted here but maybe a direct approach to your sale will go better.

Tallaght_Sale

https://www.boards.ie/discussion/comment/118061279#Comment_118061279

Thanks tried sending but the profile is set to private

lintdrummer

https://www.boards.ie/discussion/comment/118057662#Comment_118057662

Think it depends on the situation. When we bought our house we made an offer about €5000 above asking. We were first time buyers. We were told about a week later that we had been outbid by someone in a chain to the tune of another €5000 but that if we matched that bid they would go sale agreed with us. So we did and we got the house.

But that was a complex situation. The house had been owned by a young man who passed away suddenly. It was an investment property that had been rented out since the day it was built (the owner's father was the developer who built the estate). There were 4 years of probate before the house came to market. The EA who sold the house was more of a letting agent and not one of the big sales agencies. She didn't seem at all interested in pushing up the price or getting a bidding war going. The family of the deceased just had a figure in mind I'd say and wanted a quick sale so they could tie up all the loose ends surrounding the death and move on with their lives.

So I feel we got very lucky in a way, but you can match an offer if you know you're a cash buyer or a first time buyer and the only other party is in a chain.

arleitiss

Just wondering is it normal for solicitor to send about 19 various pre-contract queries (All related to planning permission and various documents about land registry/permissions from council etc..)? (It's a new build)

How long does it generally take for builders solicitor to supply these? (It sounds like a massive list of various documents)

Blowfish

https://www.boards.ie/discussion/comment/118057662#Comment_118057662

We as FTB were 5k down against a couple in a chain. The EA said the vendor was to make a decision at 12, so we rang up at 11 and said we'd match the bid. It worked out for us and we went sale agreed, but it could have easily ended up with the vendor deciding they'll wait and give the other couple time to counter.

joeguevara

https://www.boards.ie/discussion/comment/117952862#Comment_117952862

Not true.

https://personalbanking.bankofireland.com/app/uploads/BIL_Covid-19_Impact-of-my-Life-Insurance-FAQ.pdf

Should every new build house in an estate get an individual BER certificate? If so, would my solicitor have it? I'm here 2 years and never received one...

https://www.boards.ie/discussion/comment/118062384#Comment_118062384

Would the bank have it? They need it to offer the green rate mortgage on new builds.

https://www.boards.ie/discussion/comment/118063695#Comment_118063695

Such mortgages didn't exist 2 years ago.

Pete123456

https://www.boards.ie/discussion/comment/118062384#Comment_118062384

I suggest asking your solicitor - they should have received it along with homebond etc

MBE220d

https://www.boards.ie/discussion/comment/118062384#Comment_118062384

https://ndber.seai.ie/pass/ber/search.aspx

Stick in your electricity MPRN number and you should get it.

You need a MPRN and an eircode for that. My house didn't have an eircode when I bought it so that won't work. I'll contact them directly and see

diceyreilly

Finally signing the contracts on Tuesday. Does anyone know how long afterwards ill get the key. Or will i at least have a date when i will get the keys.

Want to go shopping on Wednesday for beds, furniture, tv and fridge.

Be nice to know the date.

joeguevara

https://www.boards.ie/discussion/comment/118066298#Comment_118066298

It is usually between 2-4 weeks but an earlier time can be agreed. Really depends on how quick both solicitors are, speed of banks, final dotting i’s and crossingts. Congratulations. Very exciting

diceyreilly

https://www.boards.ie/discussion/comment/118066603#Comment_118066603

Nice one. 4 weeks is time enough. Am paid up rent till the 3rd of December. Be great to get it a few days beforehand.

Thank you, can’t wait.

joeguevara

https://www.boards.ie/discussion/comment/118066636#Comment_118066636

Ah there is a lot of moving parts, buyer, seller, two solicitors, banks and if they are in a chain and need to wait etc.

I’ve think I’ve gone through the process 5 or 6 times and without fail there is some drama on the last day, bank delaying sending funds, or they lost keys. But always worked out.

Sometimes depending on the seller, they may allow you access to measure for furniture, etc. Again sometimes not as it could be an insurance issue.

Cash_Q

https://www.boards.ie/discussion/comment/118061553#Comment_118061553

I found it by checking on your previous thread about the photos. Great house and location, I sent it on

CalisGirl

Finally reached the stage where the solicitor is requesting drawdown (for the second time). Everything that could possibly delay the sale has happened. Is there any tips for ensuring drawdown goes smoothly and there aren't any queries from assessor? My broker hasn't pointed out any issues, but just said to beware that they can happen.

Cash_Q

https://www.boards.ie/discussion/comment/118071565#Comment_118071565

When we were drawing down I asked KBC on Twitter who to contact for updates, they gave a phone number that no-one else had given to date, which was a direct link to the drawdown team. The lady I spoke to was able to tell me precisely where I was in rhe queue and what outstanding items could cause a delay. Once I sent her these items she gave the exact date for drawdown which was accurate in the end.

If you can ask your lender on Twitter for contact details for the drawdown team then it might work out for you as it did for us above.

kwalsh000

We have been searching for approx 3 years (everything from Land to build on) to a house to renovate. Looked in north Dublin and it has gotten to the point we were looking in Kells and Louth.

We found what we thought was our dream house, right price and size...after 4/5 weeks of back and forth we were outbid by the HSE / Govt Body and back to square one. The estate agent was great in fairness though so cant fault them at all.

We have previously dealt with estate agents in Lusk and that area who ignored our emails and calls ot make bids and in some cases never relayed them to the owners (I contacted the owner after the fact for one and he never got our offer and the other was a friends relation who was never informed we were trying to view and bid).

Others were outbid by crazy amounts only to be back on the market a month or 2 later (like 100k over asking price)

Our house was sale agreed for 6 months with a very understanding couple who knew our situation and were willing to take the chance and wait and i feel terrible that we have to pull out now aswell as we can't find anywhere.