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

tallaghtjoe

We went sale agreed in late February but only now we are near finishing the sale. Buyers have signed contract, we will be signing tomorrow, and date agreed to close is next Friday. After the long wait, it all seems a bit rushed now, but we are very happy its coming to a close. A valuation was done in March where a picture was taken outside of house and he didnt come in to house because of C19. I was expecting a further valuation to be done, but this doesnt appear to be the case. Also, at what stage is a survey carried out? We were also expecting the buyers to arrange this, but so far we have heard nothing. Obviously this suits us, but if something goes wrong or needs fixing, are they entitled to come back to us after the close of the sale to pay?

Smouse156

Conrad83 wrote: »

We have tried and basically got laughed at by the EA a couple of weeks back. He said of the 7 or 8 new developments in Dublin and surrounding areas, Meath, Kildare etc he is managing there will be no price reductions as demand is still very high. He said if new builds are forced to drop prices they just wont build cos they will lose money.

He said he is seeing a reduction in some 2nd hand properties in Dublin due to them already being overpriced or the seller being in a chain and already being sale agreed on their new home so forced to drop price for quick sale!

EAs are out and out liars. They work for the seller. It’s equivalent of asking the seller if he will drop the price. The standard answer is no, Always! I rang Daneswell, EA said no price drops and I told him two sold below asking price listed on the PPR in April. He had no answer. Check the register is the best bet and you will see for yourself. Some places such as Albany are happy to wait years to sell their overpriced houses. Others will drop the prices.

Given the job losses, exemptions removed for most and mortgage approval gone, what we will see is a short term spike in those trying to buy before their mortgage approval (Especially those with exemptions) runs out before the fundamental falls happen. Anything over 500k will struggle badly, anything below that will hold or drop slightly by this time next year.

PommieBast

tallaghtjoe wrote: »

Also, at what stage is a survey carried out? We were also expecting the buyers to arrange this, but so far we have heard nothing. Obviously this suits us, but if something goes wrong or needs fixing, are they entitled to come back to us after the close of the sale to pay?

Buyer exchanged contracts without doing survey?? :eek:

paulie13

tallaghtjoe wrote: »

We went sale agreed in late February but only now we are near finishing the sale. Buyers have signed contract, we will be signing tomorrow, and date agreed to close is next Friday. After the long wait, it all seems a bit rushed now, but we are very happy its coming to a close. A valuation was done in March where a picture was taken outside of house and he didnt come in to house because of C19. I was expecting a further valuation to be done, but this doesnt appear to be the case. Also, at what stage is a survey carried out? We were also expecting the buyers to arrange this, but so far we have heard nothing. Obviously this suits us, but if something goes wrong or needs fixing, are they entitled to come back to us after the close of the sale to pay?

I would think it'll be them that loses out - they seem extraordinarily naive. I can't believe their own solicitor didn't flag this for them.

connollyj

Went sale agreed on Monday (I'm with Ulster Bank).
Sent an email straight away to UB/Mortgage Advisor to arrange bank valuation.

Called her same day, left a voicemail, managed to call her on Tuesday with an answer stating she'd be replying by EOD.
Called Yesterday, called today, no answer. This is blocking the initial part of the sale, it'll take further problems I suspect arranging the date of the valuation with the vendor etc. So off to a bad start here.

I've called Ulster bank today, and they transferred me from an automated machine to a call center somewhere.
This person at the call center transferred me to NatWest Bank in the UK (?!?!?!?), whom prompted hung up on me.

I then called again, went through automated and remote call center hoops, and was transferred to the mortgage department.
This department was only for existing mortgages and seemed quite confused as to why I was calling them, which I'm not surprised by.

I tweeted Ulster bank in desperation only to be tweeted back they can't help me and to contact the mortgages team (tried that, it didn't go great, the first time I was transferred to another bank in a different country!).

They tweeted again asking for more details, I've provided them, they said they've asked my advisor to take a look. I presume this means they just sent them an email.

Sorry for the long winded message here, this is quite frustrating. The process will already take a very long time without these un-needed and time consuming delays. Any tips here guys?

Update: Tweet seems to have worked, got a call back today. Apparently the request has already been sent Tuesday for the valuation, my understanding based on the brief call Tuesday was that the email was to be reviewed and replied to and hopefully with some info/detail on the valuation. However I had no confirmation any action was actually taken, regardless atleast this seems to be moving forward now.

Nika Bolokov

Selling at the moment.

Target market is first time buyers in Dublin.

Loads of people turning up to view but are more considered when making offers.

Some lowballing, being turned down then upping the bid by 20% when told there is interest.

Strange times.

tallaghtjoe

PommieBast wrote: »

Buyer exchanged contracts without doing survey?? :eek:

So far, yes this is the case. Can they still look to get a survey done? It is them who want to close the sale so quickly, so im not expecting them to arrange in in the week.

brisan

Gavin shels wrote: »

Has anyone noticed (Dublin 12 and Dublin 7 in our case) a lot of properties you're viewing are rental properties? Seems a lot of landlords seem to be selling up.

My nephew is looking to buy at the moment and he has noticed a few ex rentals on the market.
He does not mind if it needs a bit of work as myself and the brothers can do a lot of the work for him
However no matter how much we tell him to hold off he is intent on pushing ahead.
But yes a lot of rental properties on the market.
It will be interesting to see how many tenants have frozen their payments during lockdown and how they intend to pay the arrears if at all
It could place smaller landlords in a tricky situation

PommieBast

tallaghtjoe wrote: »

So far, yes this is the case. Can they still look to get a survey done? It is them who want to close the sale so quickly, so im not expecting them to arrange in in the week.

Nothing stopping them having a survey done, but since they have already signed it basically makes no difference from your perspective.

brisan

hi! wrote: »

Interesting! Thanks for the reply. Would be too trustful of EA tbh they’re not going to say if things are slowing. We’re not in too much of a rush so willing to wait and see what happens in the market

If an EAs lips are moving you can be fairly sure they are lying
Only problem is they can lie electronically now

Graham

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Pay particular attention to the section that begins "Bashing of particular demographics....".

Do not reply to this post.

lcarrol3

hi! wrote: »

Interesting! Any idea which developments are struggling? We’re looking in Leixlip/Celbridge/Maynooth ideally. Have registered interest in a good few developments but they are pricy. We’ve got AIP from three banks so far and HTB (and a reasonable deposit) however will still struggle to reach the cost of new build. We could prob afford a second hand home but they all seem to need a bit of work so I now have my heart set on a new build. Spoke to the banks and they said we’d of 100% of gotten an exemption if it wasn’t Covid times. We’re prob just going to get paperwork in order and full aproval and wait and see. We then may try negotiate.
Where have you been looking?

So far I've seen Shackleton Park in Lucan struggling to sell and heard from a friend that the new builds in Kilcock have now dropped over 10,000 off the asking. Shackleton prices dropped recently too.

You sound like you're in the exact same boat as us! It is so frustrating, we had an exception and when we went for reapproval in May we lost it due to COVID. So frustrating. If its any help, PTSB and KBC have told us it'll be no problem to sort and exception once they're back!

At the moment we're really hoping to buy in the new phase of Parkside in Balgriffin, but like that waiting to see what happens with prices or exceptions. Interestingly, the agent phoned me the other day basically trying to get an exception over the line with a friend who works in a bank - seems they were panicking a little bit on the phone and there wasn't a huge amount of interest (he said we're one of "one or two" registered for the new development.

Dylan94

lcarrol3 wrote: »

So far I've seen Shackleton Park in Lucan struggling to sell and heard from a friend that the new builds in Kilcock have now dropped over 10,000 off the asking. Shackleton prices dropped recently too.

You sound like you're in the exact same boat as us! It is so frustrating, we had an exception and when we went for reapproval in May we lost it due to COVID. So frustrating. If its any help, PTSB and KBC have told us it'll be no problem to sort and exception once they're back!

At the moment we're really hoping to buy in the new phase of Parkside in Balgriffin, but like that waiting to see what happens with prices or exceptions. Interestingly, the agent phoned me the other day basically trying to get an exception over the line with a friend who works in a bank - seems they were panicking a little bit on the phone and there wasn't a huge amount of interest (he said we're one of "one or two" registered for the new development.

I would imagine shackelton would be struggling to sell because its in Adamstown. The whole place just feels too crowded and its not a place that feels like a home when you drive in. I think its its also over priced for the area.

brisan

lcarrol3 wrote: »

So far I've seen Shackleton Park in Lucan struggling to sell and heard from a friend that the new builds in Kilcock have now dropped over 10,000 off the asking. Shackleton prices dropped recently too.

You sound like you're in the exact same boat as us! It is so frustrating, we had an exception and when we went for reapproval in May we lost it due to COVID. So frustrating. If its any help, PTSB and KBC have told us it'll be no problem to sort and exception once they're back!

At the moment we're really hoping to buy in the new phase of Parkside in Balgriffin, but like that waiting to see what happens with prices or exceptions. Interestingly, the agent phoned me the other day basically trying to get an exception over the line with a friend who works in a bank - seems they were panicking a little bit on the phone and there wasn't a huge amount of interest (he said we're one of "one or two" registered for the new development.

Have you any idea of the prices for Parkside ??

lcarrol3

brisan wrote: »

Have you any idea of the prices for Parkside ??

Nothing yet Brisan. I have been harassing the agent for a few months now and the only indication they could give me was "late 300s for the three beds". I will say we were told they were launching at latest this week or next and still haven't got a date. Seems they're kicking the can down the road a bit on them.

Are you looking to buy in the development too?

lcarrol3

Dylan94 wrote: »

I would imagine shackelton would be struggling to sell because its in Adamstown. The whole place just feels too crowded and its not a place that feels like a home when you drive in. I think its its also over priced for the area.

Completely agree. I just noted that Gandon Park and Halwell etc sold much quicker.

brisan

lcarrol3 wrote: »

Nothing yet Brisan. I have been harassing the agent for a few months now and the only indication they could give me was "late 300s for the three beds". I will say we were told they were launching at latest this week or next and still haven't got a date. Seems they're kicking the can down the road a bit on them.

Are you looking to buy in the development too?

No we all grew up in the parish and married and 3 of us still live close by
My nephew is looking to buy nearby as both he and his partner need DART for work
Although its a bit of a trot to the DART from there
He is looking at a house though not an apartment
We are trying to advise him but he seems strong willed,bit like hid dad
We tried to get him to look at this house a 5 minute walk to the dart and in showhouse condition but only 1 bathroom
https://www.myhome.ie/residential/brochure/29-carndonagh-drive-donaghmede-dublin-13/4433866

hi!

lcarrol3 wrote: »

So far I've seen Shackleton Park in Lucan struggling to sell and heard from a friend that the new builds in Kilcock have now dropped over 10,000 off the asking. Shackleton prices dropped recently too.

You sound like you're in the exact same boat as us! It is so frustrating, we had an exception and when we went for reapproval in May we lost it due to COVID. So frustrating. If its any help, PTSB and KBC have told us it'll be no problem to sort and exception once they're back!

At the moment we're really hoping to buy in the new phase of Parkside in Balgriffin, but like that waiting to see what happens with prices or exceptions. Interestingly, the agent phoned me the other day basically trying to get an exception over the line with a friend who works in a bank - seems they were panicking a little bit on the phone and there wasn't a huge amount of interest (he said we're one of "one or two" registered for the new development.

Yes I’ve seen that now with Shackleton after researching but like others have said defo seems overpriced. That’s very frustrating with your exemption! I’d imagine a lot of people are in the same position.
Oh wow that sound promising for you! Best of luck

lcarrol3

brisan wrote: »

No we all grew up in the parish and married and 3 of us still live close by
My nephew is looking to buy nearby as both he and his partner need DART for work
Although its a bit of a trot to the DART from there
He is looking at a house though not an apartment
We are trying to advise him but he seems strong willed,bit like hid dad
We tried to get him to look at this house a 5 minute walk to the dart and in showhouse condition but only 1 bathroom
https://www.myhome.ie/residential/brochure/29-carndonagh-drive-donaghmede-dublin-13/4433866

Sounds much like ourselves! I've grown up in Donaghmede as did my dad. I know for us the new builds will (hopefully) seem like good value when you look at square footage etc compared to the surrounding estates. Then again, maybe I'm a bit strong willed too... wishing him all the best in his search!

TomTanks

The whole process is nuts, I'm the one buying and I'm the one kept out of the loop.

Weeks on end your wondering is this the week.

From EA to solicitors it's like your wasting their time. They are getting the money anyway and seem happy to sit back and let you stress and chase. EA's talk ****e and solicitors blame someone else for delays. You can believe nobody.

At this stage it seems like it's never ending. And there's SFA I can do about it!

brisan

lcarrol3 wrote: »

Sounds much like ourselves! I've grown up in Donaghmede as did my dad. I know for us the new builds will (hopefully) seem like good value when you look at square footage etc compared to the surrounding estates. Then again, maybe I'm a bit strong willed too... wishing him all the best in his search!

I probably know your DAD :):)

PommieBast

TomTanks wrote: »

From EA to solicitors it's like your wasting their time. They are getting the money anyway and seem happy to sit back and let you stress and chase. EA's talk ****e and solicitors blame someone else for delays. You can believe nobody.

Having been through the process my opinion of solicitors has actually gone up. They take their time but in hindsight the digging mine did for that house I was sale agreed on in Inchicore was worth the delay.



System as a whole is rotten though.

Matinclunn

Hi we sold our property 3 weeks ago, anyone know how long it usually takes an EA to forward the remainder of the booking deposit on to a seller. The outstanding mortgage has been paid, and we paid our solicitor. Just waiting on remainder of the original booking deposit minus EA fees. First time selling a house so not sure of timescales.

PommieBast

Matinclunn wrote: »

Hi we sold our property 3 weeks ago, anyone know how long it usually takes an EA to forward the remainder of the booking deposit on to a seller. The outstanding mortgage has been paid, and we paid our solicitor. Just waiting on remainder of the original booking deposit minus EA fees. First time selling a house so not sure of timescales.

I think your solicitor should have a word with the EA. That should speed things up a lot.

Matinclunn

PommieBast wrote: »

I think your solicitor should have a word with the EA. That should speed things up a lot.

We Rang EA on the Monday of last week he said he was to busy to deal with it.
We followed up with him on Wednesday, and he said that he had misplaced his check book in the office. So I gave him our bank account details so he could transfer the the balance, but no luck yet.

Claw Hammer

Matinclunn wrote: »

We Rang EA on the Monday of last week he said he was to busy to deal with it.
We followed up with him on Wednesday, and he said that he had misplaced his check book in the office. So I gave him our bank account details so he could transfer the the balance, but no luck yet.

Contact the PSRA.

Conrad83

Fyi AIB are still currently giving exceptions. We have just been approved this week. We didnt go through a Broker. Went directly to AIB. From what I have heard Brokers have said no banks are giving exceptions which is obviously not true. So for anyone looking for one and not affected by Covid maybe give them a try!

Dunston

lcarrol3 wrote: »

Nothing yet Brisan. I have been harassing the agent for a few months now and the only indication they could give me was "late 300s for the three beds". I will say we were told they were launching at latest this week or next and still haven't got a date. Seems they're kicking the can down the road a bit on them.

Are you looking to buy in the development too?

Would be interested to hear your thoughts on what advantages Parkside would have over the new development beside the Coast at Baldoyle named Bay View? Both are meant to be late 300s for 3 beds so similarly priced. I've no ties to the area but hadn't considered Parkside over Bay View due to proximity to the dart station and the coast.

hi!

Conrad83 wrote: »

Fyi AIB are still currently giving exceptions. We have just been approved this week. We didnt go through a Broker. Went directly to AIB. From what I have heard Brokers have said no banks are giving exceptions which is obviously not true. So for anyone looking for one and not affected by Covid maybe give them a try!

Interesting. I got AIP with them last week via the online portal- asked via the portal re an exemption (wasn’t talking on the phone to anyone) and they said no to exemptions. We haven’t been affected by covid

Conrad83

hi! wrote: »

Interesting. I got AIP with them last week via the online portal- asked via the portal re an exemption (wasn’t talking on the phone to anyone) and they said no to exemptions. We haven’t been affected by covid

We were surprised ourselves they told us 2 weeks ago they were still granting exceptions up to €750k. The advisor did tell us they were expecting them to be paused soon though.

I dont know if it made a difference to our case but we have both banked with AIB for 15 odd years and I had been approved a single mortgage exception with them 3 years ago