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

Fair enough. A difference of opinion on the meaning of the word reasonable. I was thinking if it's reasonable at price X then there's a little bit of head room before you'd rule it out. Steal->Bargain->Reasonable->Reluctant->Through Gritted Teeth->No Way 😄

I'd be wary of buying into the idea that's always being peddled here that the market is unsustainable. Maybe the price rises will slow down but I don't see a single event that crashes prices any time soon like a Lehmann Brothers type thing or a dot com bubble burst. There's no runaway credit. There is a huge amount of legitimate demand and there's low supply. I don't see any of that changing dramatically any time soon. If anything, there's a chance the CB will cave to pressure and up the LTI limit to 4.5 which will only drive prices higher.

Psychology can play a part either way. You're using words like "calm" to describe one approach and words like "desperately" to describe another approach. I could rephrase it as "naively sit back and wait for the right property at the right price or shrewdly secure a property now before prices get any higher".

Got a phone call this morning from the bank informing me that they had officially transferred the funds to my solicitor and that they should be with her tomorrow. All going well I should get the keys to my first apartment either tomorrow or Friday. It's been almost two years since I first stepped foot into a bank to enquire about a mortgage and there have been a lot of ups and downs along the way since then, but I got there in the end. Best of luck to everyone going through this frustrating process. It will be worth it in the end.

Cheers. I'll watch that later.

I'd accept that interest rate changes might play havoc with REITs involvement here which might very well impact apartment hunting in particular but at the moment, However I think the CB rules, supply, and demand are much bigger factors in controlling prices than interest rates. For so many FTBs out there, their mortgage payment is going to be significantly less than their rent. In my own case, the interest rate would have to be 4% just to cost the same as my rent was before buying. Similar sized properties, same area.

Also, you're assuming interest rates will rise. By how much? And when? Before/after supply is fixed? Will it be enough to offset the equity you might have built up in the meantime? What about all those additional FTBs who can now compete with you since prices dropped?

If prices for a 2 bed apt drop below 200k, that's into the territory of middle class parents buying their college kids a place to live rather than funding their rent. Something to bear in mind.

No idea.

I figured maybe they lost their only bidder at €545 (my friend) and went back to the person who bid next highest in reality. Just happened to be the same couple and the agent never copped on.

She decided to play along anyway - put in a bid of €456K and said not to bother ringing her back if it went above that. Agent still doesnt realize its the other half of the couple who bid up to €540k a few days before.

It will be interesting to see what happens.

We just got valuation on my late Da's house and tbh, they are having a laugh.

It's 90k more than a similar in every regard nearby house (approx 900 sq ft,3 bed/1 bath kitch/diner plus living room semi-D, built early 90s, urgent need of modernisation & insulation, windows/boiler shagged originals, Elderly person lived there for decades etc) sold for in Dec 2020, and only 20 k less than a far larger house 1100 sq ft, fully kitted out and decorated, attached garage, 2 bath/3 bed/kitchdiner/dining room/living room sold for in July.

I'd be furious if I found out I'd bought a smaller house that needs a good 20+k work done on it for 20k less than a bigger house in turnkey condition.

Realistically hse is worth 170-190k, with current price inflation raise that to 200-210k - but 250k? No way.

it's one less link though. perhaps the vendor has had sales fall through due to finance not being in place

4 months and a day after going sale agreed, after no less than 7 different closing dates in the last month, and with one mortgage payment out of the way, we finally got our keys to our dream home yesterday (my fiance's birthday to boot!). I wouldn't wish the stress we went through in the last week on anyone, but we're finally in!

I'll document the key dates in our process over the next few days but thanks a mill to everyone who advised me on this forum, this place is great for advise and info just for a place for someone to rant!

Now back to chasing down Thorntons and Harvey Norman!

You can if it's the deeds! We were waiting nearly 2 months for the contracts because of them.

Are you stuck in a chain? I’m a FTB and ready to move in tomorrow, but the woman I’m buying from is unable to find another place apparently, but I have no idea how hard she’s looking or what her search entails. It’s so frustrating.

I went sale agreed on May 17th and there is still no sign of contracts.

Almost there myself, looking towards a closing date next week if we get a couple of things sorted by this Friday! I cycled by the new house yesterday and it's empty and ready for us to move in, vendor had moved out - so close to closing I almost wanted to just Jimmy the door open and plonk myself down on the living room floor :D

whats the status on drawdowns - is it still taking 5 days or are there delays?

sorry to hear that. was the contract signed?