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

NearlyForty

Giggles90 wrote: »

Yes it is so nerve wrecking, I wont sleep until it is drawn down..we have submitted up to date payslips for may, just wondering can they come back and look for more documents in the next 2 days

How did you get on in the end? Our solicitor drawing down tomorrow!

NearlyForty

DaraDali wrote: »

What bank are you with and which bank are you getting the mortage from if you dont mind me asking?

Hoping to close in two weeks here and signing contracts on thurs

Sorry for the late reply, we’re getting Mortgage from Haven through our broker
How you getting on?
Our solicitor is drawing down the mortgage tomorrow

Giggles90

NearlyForty wrote: »

How did you get on in the end? Our solicitor drawing down tomorrow!

Mortgage went into the solicitors account today!!!! Its like a weight has been lifted.. sale is closing on friday, hopefully...the couple that were buying the house off have separated! One has signed all contracts but still waiting on the other.. they are using two different solicitors so it's kind of holding things up

DaraDali

NearlyForty wrote: »

Sorry for the late reply, we’re getting Mortgage from Haven through our broker
How you getting on?
Our solicitor is drawing down the mortgage tomorrow

Was just very worried about letters from work etc, ya signed contracts and bank have only asked for a direct debit for the money, bank said we can drawndown after today! hoping to close in the next week. getting very real now

NearlyForty

dowhatyoulove wrote: »

Hope you guys all get on ok - we got a call from the solicitor this morning to say our funds have been transferred. Honestly very relieved this is all over - I’ll never buy a house again!

We did make a complaint which escalated our issue up higher and I’d honestly say it’s probably the only reason why it’s been done.

Keys will be in our hands in a few days - now to pack up the rental

Congrats that’s great news and a relief too! Enjoy

NearlyForty

DaraDali wrote: »

Was just very worried about letters from work etc, ya signed contracts and bank have only asked for a direct debit for the money, bank said we can drawndown after today! hoping to close in the next week. getting very real now

Ah that’s great news! Best of luck next week and enjoy!
I’ll be glad to get this week over with!

It has been so stressful for all

NearlyForty

Giggles90 wrote: »

Excellent news, we are the same, il finally sleep tonight knowing that the mortgage process is over and done with...
Congrats and best of luck for your future in your new house.. were getting the keys this day week..

That’s great! Just saw your other message. Best of luck and enjoy! I’ll be glad to get this week over with.. Many a sleepless night here too worrying about it all
Never buying another house!

Giggles90

NearlyForty wrote: »

That’s great! Just saw your other message. Best of luck and enjoy! I’ll be glad to get this week over with.. Many a sleepless night here too worrying about it all
Never buying another house!

Especially during a pandemic, as if the situation wasnt stressful enough!! Best of luck to you too

NearlyForty

Giggles90 wrote: »

Mortgage went into the solicitors account today!!!! Its like a weight has been lifted.. sale is closing on friday, hopefully...the couple that were buying the house off have separated! One has signed all contracts but still waiting on the other.. they are using two different solicitors so it's kind of holding things up

Oh dear! Hopefully they’ll get it all sorted by Friday
I know, it’s so nerve wrecking! Our bank had an IT glitch yesterday so couldn’t issue out any funds but our solicitor had the intentions of drawing down today, I’ll be so relieved when it’s done. We’re also closing on Friday!

coughdrops

Glad to hear that some of you are almost there! It is such a stressful time.

Did anyone see the article in thejournal.ie yesterday -

'The stress is real. And growing': Wage subsidy recipients with mortgage approval uncertain if they can buy home

https://jrnl.ie/5120028

This made me laugh - they wouldn't entertain talking about our "individual situation" at all, even though we provided everything they mention below.

A spokesperson for Permanent TSB said: “We have a duty of care to our customers to ensure that any lending is affordable for them. In accordance with consumer protection requirements, we are facilitating mortgage-approved customers on the TWSS in drawing down their loans subject to their employers providing assurance on the sustainability of their income when the TWSS comes to an end.

“We are doing everything we can to support our customers at this difficult time and are working with them on a case by case basis to assess their individual situations.”

GavMan

GavMan wrote: »

Anyone changed job after loan offer issued but still able to draw down? I changed job about 6 weeks ago due to personal circumstances and difficulties in my old job. It was more or less unbearable. I got a new job, 10k salary bump. Now BOI need the last months payslip from me and my other half before drawing down.

What are our chances of drawing down now? Anyone been in a similar position in recent weeks? I know it was less than ideal to move job at this point in the process but it truly was having a terrible effect on me and really, at the end of the day, no mortgage or job is worth the kind of stress I was experiencing.

Edit: I searched the thread for recent Covid-19 experiences but didn't manage to see any

For anyone that comes across this post or in a similar situation, the broker informed me that funds are issuing today. Essentially it seems to have gone through a full underwriting process again rather than simply checking you were still being paid but we got there in the end.

Giggles90

So the sellors of the house we are buying, put a special condition in the contract, that the sale closes in 3 weeks or earlier. That 3 week mark was friday the 12th! So we told out landlord wed be moving out that weekend. But the sellers are still in the house and have not even started moving...what rights do buyers have when it comes to the seller not meeting the closing date?

Bluefoam

If the contracts are completed and the money transferred... They have no rights. They should gtfo

cnocbui

Giggles90 wrote: »

So the sellors of the house we are buying, put a special condition in the contract, that the sale closes in 3 weeks or earlier. That 3 week mark was friday the 12th! So we told out landlord wed be moving out that weekend. But the sellers are still in the house and have not even started moving...what rights do buyers have when it comes to the seller not meeting the closing date?

Unfortunately, none. This happened to me; seller claimed wife was seriously ill and they couldn't move. Given previous delays and displays of cute, I didn't believe it but nonetheless was forced to ask our current landlord if we could stay on for a further two weeks, which thankfully they assented to.

Giggles90

cnocbui wrote: »

Unfortunately, none. This happened to me; seller claimed wife was seriously ill and they couldn't move. Given previous delays and displays of cute, I didn't believe it but nonetheless was forced to ask our current landlord if we could stay on for a further two weeks, which thankfully they assented to.

Buyers really are at the mercy of the seller! I just dont understand why they would put in that special condition, if they had no intention of moving by that date

cnocbui

Giggles90 wrote: »

Buyers really are at the mercy of the seller! I just dont understand why they would put in that special condition, if they had no intention of moving by that date

Yes, the playing field is heavily tilted in favour of the property vendor. What's that saying: 'There's nowt so queer as folk'. Why indeed.

Graham

Giggles90 wrote: »

I just dont understand why they would put in that special condition, if they had no intention of moving by that date

Fear the market might turn before the sale closed so they wanted to weed out time-wasters and close quickly just in case.

Giggles90

cnocbui wrote: »

Yes, the playing field is heavily tilted in favour of the property vendor. What's that saying: 'There's nowt so queer as folk'. Why indeed.

No better saying 🀣🀣

Claw Hammer

Giggles90 wrote: »

So the sellors of the house we are buying, put a special condition in the contract, that the sale closes in 3 weeks or earlier. That 3 week mark was friday the 12th! So we told out landlord wed be moving out that weekend. But the sellers are still in the house and have not even started moving...what rights do buyers have when it comes to the seller not meeting the closing date?

A closing date in a house purchase contract is only considered a warranty and not a condition.
Unless there is a clause in the contract making time of the essence and imposing some kind of compensation for non performance, all the buyers can do is issue a 21 day warning letter to the party in default threatening a suit for no-performance.

Having said all that there isn't much a landlord can do if a tenant doesn't move out on the expiry of their notice other than issue a warning letter.

ladystardust

Silly question probably but all funds with my solicitor now and she said we are hoping to close by today or tomorrow. Does this mean we get the keys??? Is that the end? It's just such a long process and so much different terminology.

Claw Hammer

ladystardust wrote: »

Silly question probably but all funds with my solicitor now and she said we are hoping to close by today or tomorrow. Does this mean we get the keys??? Is that the end? It's just such a long process and so much different terminology.

There used to be a big ceremony at closings of handing over the keys. It seems to happen less so nowadays. Now with closings, a further visit to collect the keys is often necessary.

ladystardust

Claw Hammer wrote: »

There used to be a big ceremony at closings of handing over the keys. It seems to happen less so nowadays. Now with closings, a further visit to collect the keys is often necessary.

Ok so I can assume that actually getting the keys is now imminent l? LoL

ladystardust

ladystardust wrote: »

Silly question probably but all funds with my solicitor now and she said we are hoping to close by today or tomorrow. Does this mean we get the keys??? Is that the end? It's just such a long process and so much different terminology.

We got our keys on the day of closing - had to go to the solicitor to sign the deed but then picked up the keys from the estate agent. We arranged each separately but for the same day.

I'm not sure if that's the norm or if it was because of the lockdown. This was at the end of April, so processes may be more streamlined now.

Nijmegen

ladystardust wrote: »

Ok so I can assume that actually getting the keys is now imminent l? LoL

Yeah once the money goes through it is your house so the exchange of keys should happen as quickly as practicable thereafter.

ladystardust

Nijmegen wrote: »

Yeah once the money goes through it is your house so the exchange of keys should happen as quickly as practicable thereafter.

Thank you. It's just so funny to think it will be over! It always seems like theres something else to do and we will never get there. The finish line always feels a million miles off.

Ricosruffneck

Claw Hammer wrote: »

There used to be a big ceremony at closings of handing over the keys. It seems to happen less so nowadays. Now with closings, a further visit to collect the keys is often necessary.

What kind of ceremony, so us Gen x / millennials know what we are missing out on?

Keg party. blessing of the driveway....

Tazium

The local priest around to bless the house, no kidding!

guyfawkes5

ladystardust wrote: »

Silly question probably but all funds with my solicitor now and she said we are hoping to close by today or tomorrow. Does this mean we get the keys??? Is that the end? It's just such a long process and so much different terminology.

From your point of view - yes. Everything that's important, in terms of being able to start moving into the property and the deal being almost irreversibly done, comes on that day.

Your solicitor may continue the paperwork in the background for a few weeks to cap everything off, but this is totally independent of you.

Nijmegen

ladystardust wrote: »

Thank you. It's just so funny to think it will be over! It always seems like theres something else to do and we will never get there. The finish line always feels a million miles off.

Buying a house happens very slowly at first and then all at once.

Of course it's worth saying to you now that it's more like reaching a false peak - you can stop and admire the view, but the work is only beginning! (I had a fellow in a furniture shop say to me the week I bought my first house, "Ahh, now the real financial hemorrhaging begins.")

Savour the moment, take a deep breath and then take it one step at a time!

fifth

Nijmegen wrote: »

Buying a house happens very slowly at first and then all at once.

Of course it's worth saying to you now that it's more like reaching a false peak - you can stop and admire the view, but the work is only beginning! (I had a fellow in a furniture shop say to me the week I bought my first house, "Ahh, now the real financial hemorrhaging begins.")

Savour the moment, take a deep breath and then take it one step at a time!

This sums up the experience so well!

I was delighted to sign contracts two weeks ago after initially getting AIP back in february. (and starting the process before December 2019).

Then I heard nothing for a week. Now all of a sudden this week, I've picked out & bought tiles etc, kitchen designed and ordered, electrician booked in, snag works being remedied, everything needs to be paid for etc etc.