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

Its not a hard thing to do to prove your broadband speed though. And its very important to most buyers nowadays. Hell its why a lot of them are moving. Because they have been told they are allowed to work from home.

I didn't know English insurers could do mortgage protection for Irish buyers. Are they more lenient than Irish ones? Was there a broker in particular you were planning to deal with?

The valuation itself only takes an hour or two to do. In terms of how long they take to book an appointment it'll probably be down to the bank and how busy they are. In our case they came to look at the place 6 days after I called them, and I received the actual report about 2 weeks later after that. This was with AIB during the summer.

We've gotten great news from AIB today that my partner got her mortgage protection insurance waived 😀 We're very surprised but very happy, we had been looking forward to the new house for months and thought it was done and we'd lose it at the last minute. Hopefully no more hiccups before closing date now.

For future reference, because nobody else anywhere seemed to post about their experiences of receiving a waiver, in our case we had an exception on the 3.5x limit (our mortgage was 4.5x of our combined incomes at the time of applicatoin), and I earn about 35% more than my partner does in gross income. Our LTV was around 79%, it may have been more difficult if it was at 90%. My partner has a death in service benefit to the value of approximately 22% of the mortgage. Apparently they factor in ability to repay on a single income also, and in my case my current rent + regular monthly savings are a little bit higher than the monthly mortgage repayments, even after we get out of the 5 year fixed rate. We also have no other debts, and no kids or dependents. The mortgage was for 35 years, and it was with AIB.

Ah congrats. Waiting on AIB to ok qualification of title for the second time ourselves. I'm feeling hopeful as we are looking for a relatively small mortgauge so fingers crossed. I spoke to a UK broker about it while waiting for our Irish one and they said that they can insure but i didn't need to go ahead with it. I had heard online that the UK is easier for some conditions.

My solicitor requested it from the vendors solicitor who provided it. This was after the contract was signed. The bank required a copy of it as well prior to drawdown. I'd let your broker know what the solicitor has said and that you'll forward it once available.

Also, make sure you specifically tell your solicitor they you need a copy and request that it's forwarded to you when available. My solicitor didn't do this until drawdown was requested - don't think he knew it was needed - and it's slowing down the process.

Hi all. We've been sale agreed since July (selling our home). Things have been moving slowly, mostly down to the pace the banks are running at, so I'm told.

Our closing date (which is next week) was set by the buyer's solicitor 6 weeks ago when contracts were signed by both parties subject to loan approval. The same day, buyers got letter of loan approval. In the intervening time we have heard basically nothing. Our solicitor has been calling and emailing the buyer's guy and getting no response. I reached out to the EA to ask buyer what's going on. Last night buyer's solicitor emailed mine a one liner to say that he's waiting to hear from his client.

I called EA again today and said we need to know what's happening and that she needs to put pressure on the buyer to kick his solicitor into action. She later called to say buyer wasn't aware his solicitor was waiting on him for anything. As far as he's concerned they're just waiting for draw down.

So I'm quite disheartened now as we really don't know what is going on. Our solicitor reckons that there's no chance of it all wrapping up by closing date. Too much to be organised between solicitors and no contact from their side means it won't all get done in time. We don't even know if the draw down has been requested yet.

Apparently buyer's solicitor is a regular in court so house sales are low on his priority list. Baffles me that one individual being nonchalant and frankly unprofessional can interfere with the lives of other's in such a negative way. We had to move out of our home to relocate and are now paying rent in our new location on top of the mortgage.

I don’t think it’s that simple. I think you have to serve them with a notice to complete (think that’s the name of it) and they then have 28 days to get everything in order before you can back out. Obviously your solicitor would know all that better than me but just wanted to point out that you can’t just decide to keep their money the day after things were due to close.

I was on the other side of this situation last year. We were supposed to close on our house at the end of March 2020 but with Covid everything got delayed, banks freaked out, wasn’t clear if the valuation could be done etc etc. Luckily our incomes were secure and it worked out in the end but the whole thing took an extra 6 weeks.

I have just made an offer on a house with tenants in situ for the last 4 months. The offer is conditional on vacant possession. The tenants know the owner is selling and that they have to leave with one months notice which has been given. They rented the property in knowledge of this. The tenancy is registered with the RTB, according to the owner. I have AIP, however, the bank, I presume, will expect it to be vacant when they do their valuation. Does anyone have experience of banks doing their valuation with tenants in situ and as a consequence being refused the loan? Also, does anyone have experience of tenants not moving out, when asked, in the first 6 months - even though they have no part 4 rights?

I sort of know how you feel. We seem to be on the opposite side of this right now. The seller's solicitor are just impossible to reach all week. Our own solicitor has been making attempts since Tuesday. On Wednesday the EA said that if our own solicitor contacted them requesting a note they should be able to setup a final closing date, and that their solicitor should contact ours "soon". The same day our own said he emailed 2 different solicitors at the same firm so we should expect a reply by Thursday. Our own solicitor tried calling today but only got to receptionist and still no reply.

Probably not as bad as your case but still a bit frustrating not knowing our own closing date, and they've been dragging their feet on this for months (we also went sale agreed in July). In some way that was lucky for us because we had delays on our own end, but the closing date is fast approaching now. The EA has said they expected it would be in November so we're about 6 weeks out at most, and our lease is up at the end of November so we really will need to serve notice to the landlord soon. Can't get insurance policies finalised and in place until we have it either, which has to be signed over to the bank too, and still have to arrange packing and moving out in that time.

Good morning everyone. I received my loan offer about 3 weeks ago now, I've my mortgage and home insurance lined up and done the surveying and valuation with no issues or roadblocks so far. I haven't heard anything in about 3 weeks at this stage, is that normal? I'm basically just waiting for my solicitor to inform me what to do next at this stage, my understanding was I should sign the loan offer relatively soon after receiving it, or is there more to it? Thanks, kind of going a little crazy :)

My friend is bidding on a nice little house in Skerries and was the top bidder for the last 3 weeks and about €25k under the asking price.

The agent range her Friday to tell her that the asking price was bid Friday and the vendor was about to close today Monday. Did they want to bid over the asking price. So they decided not to and said they would have to fall out of the bidding.

Agent called back today and said the higher bidder dropped out and would they like to bid their original bid for the property.

Not the first time of heard of that agent doing that.

Methinks games are being played here.

No that shouldn't be an issue, if you are on any meds just have the name of them handy when filling out the form \ on the call.

I don't really get the strategy either. When I went to view an apartment a few months ago (which I subsequently bought) there was already an offer on it 20k under asking. I put in a bid 5k higher, original bidder came back and bid 2k higher, so then I upped my offer another 2k. EA didn't hear back from the original bidder after a week so called me and said the seller was willing to go sale agreed at 7k under asking (my bid at that point was 11k under asking) if I was comfortable with that. At that point I had already been house hunting for a year and a half so I just bit the bullet and went with the 7k under asking, going sale agreed that day. I'm sure I could have tried to get them to meet me in the middle but I didn't want to risk losing it, and I was honestly willing to go up to asking if it came to that so I still considered myself getting a good deal at 7k under asking.

IMO the strategy that the EA/seller employed there is a much better strategy than making up an offer to try and put pressure on a potential buyer.

Surely it is as simple as they just haven't been given a date in their own purchase contract for whatever reason, and therefore can't risk giving you a date until that is done. That's what 'working out some stuff in their own contract' sounds like to me; it's just not at the signing stage yet!