Thoughts on best way to bid for a house I really want?

zweton

https://www.boards.ie/discussion/comment/120670214#Comment_120670214

genuine question but if your paying something and genuinely trying they cant repossess?

Dav010

https://www.boards.ie/discussion/comment/120703332#Comment_120703332

Ignore it, it’s rubbish.

https://www.irishexaminer.com/news/arid-41088487.html

RichardAnd

https://www.boards.ie/discussion/comment/120692067#Comment_120692067

This is personal experience, but I have a friend who got into a bidding war a few years ago. What happened was that he would make an offer, and it would remain the highest offer for a about a week before the other bidder would make a counter offer about 500-1000 euro over his offer. This happened for about a month, driving the price up by about 20k on a 300k house.  

My friend was getting rather fed up, so he did something interesting. Rather than making a large offer to blow the other bidder out of the water, he told the EA that he would match the counter bid. This flabbergasted the EA, who naturally pushed for a higher offer, but my friend stuck to his guns. After a few days of hearing nothing, he was told that the buyer had accepted his offer.

I strongly suspect that there was no other interested party in this case, and that the EA was lying to accrue a higher selling price. When the bluff was called, he folded and took the offer. Of course, this isn't true in most cases, but it serves as an example of the sickening behaviour that exists in the property market. Don't be afraid to call an EA out if you feel that they acting the maggot, and remember that they are not your friend.

DownByTheGarden

https://www.boards.ie/discussion/comment/120703832#Comment_120703832

I dont think you have read your own link there.

DownByTheGarden

https://www.boards.ie/discussion/comment/120703332#Comment_120703332

Yes, if you are making any effort at all and engaging with lenders your house will not be repossessed in Ireland.

RichardAnd

https://www.boards.ie/discussion/comment/120704069#Comment_120704069

I have family who have paid a pittance of their mortgage for the last 20 years and still maintain ownership of their houses. I don't wish to see any family members lose their home, but they're taking the p**s...

DownByTheGarden

https://www.boards.ie/discussion/comment/120704119#Comment_120704119

Also the reason why we had suych high interest rates and shortage of houses the last few years.

In Ireland you dont have to pay your mortage (well you have to make some sort of attempt, but not much). And you also dont need to pay rent either if you dont feel like it. When you get booted out after a few years of not paying your rent you just move on to the next victim/landlord and do the same thing again for a few years.

Dav010

https://www.boards.ie/discussion/comment/120704061#Comment_120704061

I did, you said no bank is “ever” going to get a repossession where an owner is paying a contribution towards the mortgage, I linked to an article where a lender secured a repossession order even though the borrower was paying.

The court is going to take different circumstances into account for each application by the lender, but you are wrong to say no bank will ever get granted an repossession order.

DownByTheGarden

https://www.boards.ie/discussion/comment/120704575#Comment_120704575

Read the rest of your article, without leaving bits out.

Let me put it aother way. Do you yourself think that in Ireland it is likely that a home gets repossessed if the owner is making an effort to pay the mortgage and actually engages with the lender and turns up in court when required?

Dav010

https://www.boards.ie/discussion/comment/120704615#Comment_120704615

Ok, I don’t want to turn this into a to and fro where you start arguing about what if this happened or that happened. The article says the owner was contributing towards the mortgage, yet still a repossession order was granted, so you are wrong when you say no bank will ever get a repossession if the owner is contributing.

The court will decide the case on its merits, even if the owner is paying.

DownByTheGarden

https://www.boards.ie/discussion/comment/120704660#Comment_120704660

I think people can make up their own minds what the chances of playing ball and getting repossessed.

As we can see from your efforts to ride around the issue at hand instead of properly refute the claim, you havent even convinced yourself of your position :)

Ill leave it at that.

Dav010

https://www.boards.ie/discussion/comment/120704671#Comment_120704671

I literally posted an article where the lenders were granted repossession orders, even though the owners were contributing to the lenders, how could that possibly be construed as riding around the issue of what you posted:

“And no bank is ever going to get a repossession in this country off anyone even attempting to pay the mortgage.”

Christ, I am annoyed with myself for engaging with you on this, even though I pointed you to clear situations where orders were secured even though payments were made, you still argue that you are right.

DownByTheGarden

https://www.boards.ie/discussion/comment/120704870#Comment_120704870

You are not getting it at all are you and still not even reading the full text of your own article. If you wont answer anything else about out, tell me one thing. Was there anything else special about the people who repossession orders were granted against? Maybe the fact they didnt even turn up to court. So clearly they werent engaging. At fist I was very surprised you missed that in the article you posted, but refused to read. But why should I be surprised. You arent interested in the actual situation. You just want so badly to be right and it kills you when you arent.

Here i'll quote it for you so you cant ignore it.

"The key component of both of these was the person wasn’t present in the court,” he said.

or what about this part you missed too.

"However, in 2021, 80% of the repossession proceedings resolved did not result in a possession order." 20% probably made no attempt to engage or even turn up in court.

Its basically a shock article you posted. Nobody oweing just €11k on their mortgage gets repossessed unless they have been very, very bad wouldnt you say? How can you read that and think

Lets just agree to disagree.

I can do that and you can do that.

Im sure the vast majority of people reading the thread can look up themselves how likely it is that they'll

Dav010

https://www.boards.ie/discussion/comment/120706073#Comment_120706073

Ouch, you really are frustrating.

If there are any circumstances under which a lender is granted repossession whilst a tenant continues to contribute towards the mortgage, it immediately negates your statement that no bank will ever secure a repossession if they are attempting to pay their mortgage.

Surely you can understand that.

newmember2

https://www.boards.ie/discussion/comment/120706155#Comment_120706155

He qualified that statement in a subsequent post...

https://www.boards.ie/discussion/comment/120704069#Comment_120704069

...but what any of this has to do with the OP is anyone's guess...as per usual some posters would rather try and score points rather than address the OP.

DownByTheGarden

https://www.boards.ie/discussion/comment/120706155#Comment_120706155

Have you read the post you linked yet?

I'll ask you again.

Was there anything you might think contributed to the people in your article getting repossessed over and above being in arrears?

Come on. Answer the question. I even quoted it for you above, but you wont even read it in that post never mind in the article you posted.

Look, if you want to carry on with your head in the sand and try to tell us all that its easy to repossess a house in Ireland if the owner i trying to pay and engaging, then i'll bow out here and let you carry on. But you are literally the only one in the country who doesnt understand this. If you wont help yourself, i cant help you and its not worth arguing with you.

I was only trying to answer this poster. And I think ive answered.

https://www.boards.ie/discussion/comment/120703332#Comment_120703332

Dav010

https://www.boards.ie/discussion/comment/120706196#Comment_120706196

I’m not sure why he posted his first statement either, it had nothing to do with the op. I pointed out, and stand by the contention that the poster was wrong in his initial statement, if he wants to qualify it further and correct him/herself, then why keep arguing that the first statement is correct?

It isn’t about point scoring, another poster asked if his first statement was correct, I replied it wasn’t, and it isn’t.

newmember2

https://www.boards.ie/discussion/comment/120706223#Comment_120706223

The other poster's question was...

https://www.boards.ie/discussion/comment/120703332#Comment_120703332

Appearing in court would come under 'genuinely trying', although as you say, each case is judged individually.

Calahonda52

https://www.boards.ie/discussion/comment/120688075#Comment_120688075

I agree.

Recently sold a house, asking 950

When it got to a million, we said okay.

EA said I think there is more in it: it stopped at 1.150

I then went and offered the ask on a smaller gaff, showed the EA the bank balance, went sale agreed that afternoon.

I made it clear this was a one time offer

Set a limit and offer it and then leave it at that

Dav010

https://www.boards.ie/discussion/comment/120706256#Comment_120706256

Which is exactly my point, each case is judged individually, so saying no court will ever grant repossession if the owner is contributing to the mortgage clearly is wrong, that is what I replied to, that was before the poster qualified their statement, yet still, as is his/her norm, he/she argued that what they posted initially was correct.

C3PO

Final update from me - house is now at 20% above asking so needless to say I’m out! Not really surprised, it was a great house in a good location right in the middle of a vibrant town! The best tactics in the world wouldn’t have made any difference on this one! 😀

arctictree

https://www.boards.ie/discussion/comment/120706496#Comment_120706496

Expect a call in a few days from the EA explaining that the other buyer is no longer interested and you can have the house at your last offer....

newmember2

https://www.boards.ie/discussion/comment/120707239#Comment_120707239

I wouldn't hold my breath.

o1s1n

https://www.boards.ie/discussion/comment/120707239#Comment_120707239

As deduced by artictree bidding on a whopping three properties in their lifetime. 😂

https://www.boards.ie/discussion/comment/120706496#Comment_120706496

Sorry to hear that and even worse to hear, but you might have to get used to it at the moment!

I viewed 50 properties when I was buying my current house a couple of years ago and probably bid on about ten of them and lost out. Just the name of the game at the moment, you'll find something eventually!

DownByTheGarden

https://www.boards.ie/discussion/comment/120706496#Comment_120706496

Buyers do drop out. So it might come back.

I was talking to a neighbor yesterday whos third sale just fell through on her house in the last 6 months. The first one was that the buyers couldnt get the mortgage. The second one never gave a reason. The last one said they need fibre and if she could get it installed then they would go ahead. Eir, vodafone etc told her she couldnt get it even though every other house around has it. It has to be fibre according to the buyer.

herbalplants

https://www.boards.ie/discussion/comment/120710267#Comment_120710267

Gosh the last bidder should have asked about the fiber thing before putting bids... That is so sloppy.

DownByTheGarden

https://www.boards.ie/discussion/comment/120710340#Comment_120710340

I think they only thought of it once they were looking at services to the house and checked with the suppliers. The owner didnt know she couldnt get fibre either until then. And its a bit weird because everyone else has fibre and there is a fibre reel on the pole across the road.

Toots

Something similar happened my cousin - she moved in to a house and there's a fibre reel on the pole at the end of her driveway but she's not able to connect because apparently all the ports are full. But yet according to the NBI their road is complete in terms of fibre coverage. She asked a few other houses on the road and some are connected but others are like her and won't ever be able to connect unless someone else disconnects. Luckily she doesn't work from home and is able to make do with mobile broadband, but when she was buying the house she'd put the eircode into the Fibre rollout bit on the NBI website and it said the property had fibre, so from the point of view of a potential buyer, the house looked to have fibre.

Like the person you mentioned, it was just before contracts were signed and she was going about getting utilities set up that she discovered she couldn't connect to fibre. It didn't matter to her, as I said, because she works "in-office" and also her kids have all moved out so her and the husband were the only ones living there and they wouldn't really need the fibre. They loved the house, so they went ahead with the purchase, but after moving in one of the neighbours mentioned that the house had been sale agreed before and it all fell through, so I wouldn't be surprised if that was the issue.

DownByTheGarden

Fibre is a huge thing for buyers now. I wouldnt have bought our house if there wasnt fibre tbh. But I never actually checked apart from entering the eircode so im lucky i didnt get stuck like above when it actually cane to getting it connected.

I think that person is doing the right thing asking to see fibre actually installed before buying to be sure.

Toots

I actually had the opposite with my house, we saw it online and liked it but when I put the eircode it said no fibre - it seemed like it stopped just up the road. I was looking at a different house with the same EA but decided not to bid on it and he mentioned this house and asked would I be interested. I explained that I’d seen it online but the lack of fibre was a dealbreaker. A week or so later he rang me back and asked me to double check with Openeir because there was a reel just outside the house and the only person connected to it was the property opposite. I contacted OpenEir and sure enough, there was availability for a fibre connection to my place, the map just hadn’t been updated.