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

8-10

bulmersgal wrote: »

My solicitor has reviewed the contracts and sent over her amendments to other solicitor as they have no closing date and she wants to out in subject to me getting loan from bank. I have loan offer and see no reason why I wouldn't but handy to have just in case.

Starting to feel real now will feel more real when I pay the rest of the 10% deposit. Hopefully find out soon when I'm moving as that's the most annoying part

I'm at the same stage. The other solicitor also omitted a loan clause which they have done to everyone else in the development too. Getting it in there before I sign.

bulmersgal

8-10 wrote: »

I'm at the same stage. The other solicitor also omitted a loan clause which they have done to everyone else in the development too. Getting it in there before I sign.

Yeah my solicitor said the law society recommend this clause so I would like it in. I'm hoping to close asap just waiting to hear from them when. Not sure when there new house will be ready so just to wait and see for now.

I've order my sofa as that takes 10 weeks so should have keys before then. When are you expecting to move in

Cutie_mcfruity

Hi. We’ve been told by UB that we need one payslip showing my partner isn’t on the wage subsidy scheme. He’s asked his work to take him off it but they said they can’t just take one employee off it, that it has to be everyone on it or none.. this seems like a cop out to me and I’m asking my partner to fight this. He wants solid factual information regarding this before he asks again. Anyone have any idea on this as we’re finding the revenue info hard to navigate.

guyfawkes5

Unfortunately your partner's employer is right, the subsidy isn't a per employee thing.

To get the subsidy, they would've had to have shown the government that they had a big drop in revenue due to Covid-19. The fact the company is precarious financially is what's upsetting the bank, and why it's impossible to take just one person off the subsidy.

8-10

bulmersgal wrote: »

Yeah my solicitor said the law society recommend this clause so I would like it in. I'm hoping to close asap just waiting to hear from them when. Not sure when there new house will be ready so just to wait and see for now.

I've order my sofa as that takes 10 weeks so should have keys before then. When are you expecting to move in

Likely more than 6 months for me unfortunately. Gives more time to plan and save though so Im fine with it. Lots of stuff to order with long lead time so taking time to go through every detail

Anonposter2020

Cutie_mcfruity wrote: »

Hi. We’ve been told by UB that we need one payslip showing my partner isn’t on the wage subsidy scheme. He’s asked his work to take him off it but they said they can’t just take one employee off it, that it has to be everyone on it or none.. this seems like a cop out to me and I’m asking my partner to fight this. He wants solid factual information regarding this before he asks again. Anyone have any idea on this as we’re finding the revenue info hard to navigate.

Not a cop out unfortunately, we tried to fight it too but had to wait until company was in a position to take ALL employees off covid payment.

coughdrops

coughdrops wrote: »

Short answer: Yes, unfortunately.

We had signed/returned our docs, other side signed, deposit paid, PTSB then said no before drawdown because my company gets the Covid top up (I am still on my full salary amount, so no change to our income).

Our broker has been great, and we're looking at other options now, but it has been so stressful. Sellers have agreed to wait to see how we get on, which is lovely of them!

Two months on from when PTSB wouldn't let us drawdown, we got our funds from KBC and finally got our keys yesterday. So relieved it is over.

I am still on the Covid payment/top-up - KBC were fine about it.

My top tips!
- make sure the clause that states 《the contract is dependent on bank issuing the money》 is in your contract. Our deposit had been paid in full, all contracts signed, and literally about to drawdown when the PTSB requirements changed. Thankfully we got our dep back.

- our broker was brilliant. I really recommend having one. He dealt with everything. We had no delays with paperwork or anything like that. I don't think we'd have managed dealing with all this ourselves. Happy to recommend via PM. Best few hundred quid we spent. A broker should be able to tell you which banks won't even entertain Covid payments, saving you the hassle.

It has been incredibly stressful, but we're delighted with our new place. We didn't realise how tense we were until it was over, I am exhausted!

Best of luck to the rest of you. This thread is a great resource. Thank you to everyone who helped me. I'll probably still lurk to see how you get on

LoonyLovegood

Viewed a property Thursday and fell in love, had a couple more to see that day and after the last one emailed the estate agent to put in a bid. Got a phone call ten minutes later saying the seller had accepted my bid, they'd told him to cancel any other viewings and take mine (hallelujah!!). Booking deposit is in, and it's officially sale agreed. I am so excited.

Cutie_mcfruity

coughdrops wrote: »

Two months on from when PTSB wouldn't let us drawdown, we got our funds from KBC and finally got our keys yesterday. So relieved it is over.

I am still on the Covid payment/top-up - KBC were fine about it.

My top tips!
- make sure the clause that states 《the contract is dependent on bank issuing the money》 is in your contract. Our deposit had been paid in full, all contracts signed, and literally about to drawdown when the PTSB requirements changed. Thankfully we got our dep back.

- our broker was brilliant. I really recommend having one. He dealt with everything. We had no delays with paperwork or anything like that. I don't think we'd have managed dealing with all this ourselves. Happy to recommend via PM. Best few hundred quid we spent. A broker should be able to tell you which banks won't even entertain Covid payments, saving you the hassle.

It has been incredibly stressful, but we're delighted with our new place. We didn't realise how tense we were until it was over, I am exhausted!

Best of luck to the rest of you. This thread is a great resource. Thank you to everyone who helped me. I'll probably still lurk to see how you get on

Hi! That’s great news! We have gone to a broker that supposedly has contacted all the banks and they’ve all came back saying he’d need to be off the subsidy. But if you could send me on the name of your broker I might give them a call. I’m really up the walls with it at this stage. Wouldn’t be so bad if the subsidy does end in August but I’m expecting the announcement next week to extend it.

4 of us now living in a one bedroom apartment....

mycro2013

Apologies if this is the wrong location.Presently bidding on a property as a first time buyer. The property is a few thousand over the asking price. Myself and another person are bidding on the property. The other person has put a bid of 500 euro more that mine. The auctioneer is pushing me for another bid as he stated that he is" afraid that he'll lose the other bidder".

I've stated that i wish to get a second viewing as the original viewing was a group viewing but auctioneer is having none of it. Is this common practice or is the auctioneer over stepping the mark.

Graham

mycro2013 wrote: »

The auctioneer is pushing me for another bid as he stated that he is" afraid that he'll lose the other bidder".

It depends on how keen you are to secure the house.

I'd certainly consider telling the EA you'll wait for the other bidder to drop out rather than pushing the price up unnecessarily.

WeeCuppaCha

mycro2013 wrote: »

The auctioneer is pushing me for another bid as he stated that he is" afraid that he'll lose the other bidder".

I've stated that i wish to get a second viewing as the original viewing was a group viewing but auctioneer is having none of it. Is this common practice or is the auctioneer over stepping the mark.

If he is afraid the other bidder will fall by the wayside, he is essentially asking you to bid against yourself. It’s a nonsense. Should the other bidder drop out, your last bid would already be on the table. You need to decide if you want the house enough to match the current bid and go from there.

I would also insist that I am permitted a second viewing before offering another cent. Take it or leave it would be my mantra on this.

Pivot Eoin

Looking for people's opinions here.

Viewed a house yesterday, just new onto the market this week. Absolutely loved it, but the house is asking 545k and we only have 500k currently. We're in the queue for an exemption but not sure how long that will take - in usual circumstances we easily qualify for an exemption.

We can bid and see current bids on the house online. It probably needs a little more work on the face of things after viewing, so not sure on the best strategy to bid with. I don't want to be a time-waster.

House is currently occupied and they need to go sale agreed on a new place, so I would imagine at least a 3-4 month closing time (Maybe Im wrong?)

Do we bid as if we have an exemption to compete in and around the asking price and hope it comes through in next 2/3 months or do we just play with the money we have now and hope for a drop? Or do we bid up to get the property but then try to reduce the price at snag time (there will be snags, 1 quite significant one they told us about).

thanks

AlmightyCushion

Pivot Eoin wrote: »

Looking for people's opinions here.

Viewed a house yesterday, just new onto the market this week. Absolutely loved it, but the house is asking 545k and we only have 500k currently. We're in the queue for an exemption but not sure how long that will take - in usual circumstances we easily qualify for an exemption.

We can bid and see current bids on the house online. It probably needs a little more work on the face of things after viewing, so not sure on the best strategy to bid with. I don't want to be a time-waster.

House is currently occupied and they need to go sale agreed on a new place, so I would imagine at least a 3-4 month closing time (Maybe Im wrong?)

Do we bid as if we have an exemption to compete in and around the asking price and hope it comes through in next 2/3 months or do we just play with the money we have now and hope for a drop? Or do we bid up to get the property but then try to reduce the price at snag time (there will be snags, 1 quite significant one they told us about).

thanks

If they told you about a significant snag, then surely they are expecting your bids to have included knowing about that. Don't bid with money you don't have as you will just end up pushing the price up for someone else.

pinkwink3

Pivot Eoin wrote: »

Looking for people's opinions here.

Viewed a house yesterday, just new onto the market this week. Absolutely loved it, but the house is asking 545k and we only have 500k currently. We're in the queue for an exemption but not sure how long that will take - in usual circumstances we easily qualify for an exemption.

We can bid and see current bids on the house online. It probably needs a little more work on the face of things after viewing, so not sure on the best strategy to bid with. I don't want to be a time-waster.

House is currently occupied and they need to go sale agreed on a new place, so I would imagine at least a 3-4 month closing time (Maybe Im wrong?)

Do we bid as if we have an exemption to compete in and around the asking price and hope it comes through in next 2/3 months or do we just play with the money we have now and hope for a drop? Or do we bid up to get the property but then try to reduce the price at snag time (there will be snags, 1 quite significant one they told us about).

thanks

My husband and I were in a similar situation to you, would easily have gotten an exemption in normal circumstances. Loved a house we viewed, but were approx €40K short. We couldn't wait for guarantee of exemption, as it could easily be the new year before any come available again, and the house would more than likely be gone by then. We asked both sets of parents for gifts, to make up the difference, and made our offer and got our forever home! Ideally we will pay our parents back over the coming 10 years or so, but they willingly gave the money as gifts.

guyfawkes5

Pivot Eoin wrote: »

Looking for people's opinions here.

Viewed a house yesterday, just new onto the market this week. Absolutely loved it, but the house is asking 545k and we only have 500k currently. We're in the queue for an exemption but not sure how long that will take - in usual circumstances we easily qualify for an exemption.

We can bid and see current bids on the house online. It probably needs a little more work on the face of things after viewing, so not sure on the best strategy to bid with. I don't want to be a time-waster.

House is currently occupied and they need to go sale agreed on a new place, so I would imagine at least a 3-4 month closing time (Maybe Im wrong?)

Do we bid as if we have an exemption to compete in and around the asking price and hope it comes through in next 2/3 months or do we just play with the money we have now and hope for a drop? Or do we bid up to get the property but then try to reduce the price at snag time (there will be snags, 1 quite significant one they told us about).

thanks

A closing time of around six months is not usual, although it wouldn't be advised to count on that as it can close faster with motivated parties.

If you bid for an amount you can't fulfill, this can be very dangerous as if your bid accepted the seller will look for solicitor's details from you and your solicitor in turn will look for your bank to contact them to begin the conveyancing process. Eventually, and early on, someone in that chain will realise the bid is higher than your approved amount and things can fall apart. Your bank will obviously refuse to entertain this and your solicitor will be none too pleased to be working on something that is duplicitous and extremely susceptible to collapse.

Basically speaking, even if you keep the seller in the dark that you can't fulfill the sale agreed price, there are other parties in process that will have a huge problem with this.

Frankly, it's a ****ty thing to do and you're better off just making a bid within your means rather than starting an elaborate purchase process that has costs for you and is very liable to collapse.

Pivot Eoin

pinkwink3 wrote: »

My husband and I were in a similar situation to you, would easily have gotten an exemption in normal circumstances. Loved a house we viewed, but were approx €40K short. We couldn't wait for guarantee of exemption, as it could easily be the new year before any come available again, and the house would more than likely be gone by then. We asked both sets of parents for gifts, to make up the difference, and made our offer and got our forever home! Ideally we will pay our parents back over the coming 10 years or so, but they willingly gave the money as gifts.

To be honest this would be an ideal scenario, but I just don't think the folks have it. Neither of us come from any kind of money unfortunately, and that kind just wouldn't be readily available.

Yes, your scenario sounds pretty much identical to ours. We reckon we're about 40k off being able to go Sale Agreed. The house is worth it in comparison to the others in the area, no question.

Going to call the broker on Monday and basically just see what he can do for us, if they can pull any strings, factor in bonuses etc. or anything like that.

Eoin

guyfawkes5

Bonuses might be a goer, although from what I've heard you usually have to demonstrate a history of them and some banks won't consider them at all.

pinkwink3

Pivot Eoin wrote: »

To be honest this would be an ideal scenario, but I just don't think the folks have it. Neither of us come from any kind of money unfortunately, and that kind just wouldn't be readily available.

Yes, your scenario sounds pretty much identical to ours. We reckon we're about 40k off being able to go Sale Agreed. The house is worth it in comparison to the others in the area, no question.

Going to call the broker on Monday and basically just see what he can do for us, if they can pull any strings, factor in bonuses etc. or anything like that.

Eoin

My parents wouldn't have money either, my dad's answer when we asked was that his money is standing in a field in the form of bullocks! Luckily my mam has a secret savings account that she's been keeping for inheritance for my siblings and I, so I've taken my inheritance early.

We were the same, the house was well worth the extra money compared to anything else we had seen.

Definitely worth contacting broker, I'll keep fingers crossed for you. Could be worth contacting EA too to see if he could give you a ballpark figure of what they're hoping for given the snag you mentioned?

Arlenelily

Cutie_mcfruity wrote: »

Hi! That’s great news! We have gone to a broker that supposedly has contacted all the banks and they’ve all came back saying he’d need to be off the subsidy. But if you could send me on the name of your broker I might give them a call. I’m really up the walls with it at this stage. Wouldn’t be so bad if the subsidy does end in August but I’m expecting the announcement next week to extend it.

4 of us now living in a one bedroom apartment....

We got a mortgage with ICS! We had contracts signed with AIB and then they pulled our mortgage (partner on wage subsidy scheme, full income and bonuses) just before drawdown! We got approval woth KBC and ICS After, and went with ICS as better rates. Best of luck!

Alrigghtythen

Pivot Eoin wrote: »

Looking for people's opinions here.

Viewed a house yesterday, just new onto the market this week. Absolutely loved it, but the house is asking 545k and we only have 500k currently. We're in the queue for an exemption but not sure how long that will take - in usual circumstances we easily qualify for an exemption.

We can bid and see current bids on the house online. It probably needs a little more work on the face of things after viewing, so not sure on the best strategy to bid with. I don't want to be a time-waster.

House is currently occupied and they need to go sale agreed on a new place, so I would imagine at least a 3-4 month closing time (Maybe Im wrong?)

Do we bid as if we have an exemption to compete in and around the asking price and hope it comes through in next 2/3 months or do we just play with the money we have now and hope for a drop? Or do we bid up to get the property but then try to reduce the price at snag time (there will be snags, 1 quite significant one they told us about).

thanks

5 months since I went sale agreed. Still no closing date in sight. 2 motivated parties: vendor and buyer. Not in a chain. 1 unmotivated solicitor. I think I'll have to ask the bank for an extension on my mortgage approval.

guyfawkes5

Alrigghtythen wrote: »

5 months since I went sale agreed. Still no closing date in sight. 2 motivated parties: vendor and buyer. Not in a chain. 1 unmotivated solicitor.

I'm the exact same - apparently the seller picked a part time solicitor. Letters received with dates from three weeks ago, and we all know An Post isn't that slow, repeatedly and all. Lord save me.

kippy

guyfawkes5 wrote: »

I'm the exact same - apparently the seller picked a part time solicitor. Letters received with dates from three weeks ago, and we all know An Post isn't that slow, repeatedly and all. Lord save me.

My general experience with solicitors is woeful. You get the odd proactive and communicative one but generally the profession and the processes and procedures involved need a complete overhaul. Conveyance in the majority of instances should be a relatively straightforward process but no. Not here.

Millionaire only not

A joke listening to some of the posts buying houses for 400/500 and short 50 k! Asking parents that reared and put u through education and ye can’t stand on your own 2 feet .
taking there savings or mocking a few cattle they have in a field. Ffs
If u can find 400k I’ll find another 50k without scalding someone else .

Duke of Url

Second snag next week. Would love the keys soon.

Paris123

Would the EA allow you to match a bid that's currently in for a house?
We are chain free so would be able to move fast.

Any advice is welcomed.

LoonyLovegood

Paris123 wrote: »

Would the EA allow you to match a bid that's currently in for a house?
We are chain free so would be able to move fast.

Any advice is welcomed.

You can ask, but the seller doesn't have to accept it if it's sale agreed.

Nalz

Starting the first steps to selling my 4 bed 3 bath cul de sac in Clonee / Clonsilla area next week. Got it valued this week. Received a fair and expected valuation, well expected 10k or so more but happy enough.

Excited about it all. Hoping to move down home closer to family. Will miss the neighbours in Dublin though if I do manage to sale, and being close to amenities!

Time to dust off the wellies!

Paris123

Thank you for the reply,

Would you know, If we decide to match the bid and the EA accepts it, is it the vendor or the EA who decides who they sell to i.e. us or the other bidder?

Again any advice for us first time buyers is welcomed :-)

Graham

Vendor ultimately makes the decision after considering any advice from the EA.