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

Stark · 13-12-2021 6:14pm

https://www.boards.ie/discussion/comment/118315424#Comment_118315424

Seems about right. I paid 576 (including VAT) for a 100m2 3 bed terraced. (That was with Property health check. Would recommend, they were easy to deal with and very thorough).

LeeroyJ. · 13-12-2021 6:22pm

https://www.boards.ie/discussion/comment/118316183#Comment_118316183

Can Vouch for Property health check, i paid around 700 euro and my solicitor said the survey was very thorough and helpful for conveyancing.

Jem123 · 13-12-2021 7:48pm

https://www.boards.ie/discussion/comment/118315197#Comment_118315197

My mortgage is gone to final checks today. Supposed to be closing this Friday. I was told it should only take a day but not confident after reading this thread

soc · 13-12-2021 10:21pm

https://www.boards.ie/discussion/comment/118314427#Comment_118314427

We gave in all our loan condition documents in branch on Mon Nov 15. Mortgage was in final checks around Fri Nov 19/Mon Nov 22... and we received confirmation from PTSB on Wed Nov 24 that final checks concluded and funds would be released to us in 3 days time. Funds cleared into our solicitor account Mon Nov 29. Because all our documents were provided and nothing was missing, there was no delay in process for us.

So for us drawdown from PTSB went as smooth as it could have gone.

Getting an amended Loan Offer letter was the biggest delay for us...

johnpackt · 14-12-2021 12:48am

https://www.boards.ie/discussion/comment/118315424#Comment_118315424

It costed us 375. The report was good(don't have benchmark to compare as this is the first property we are buying). He allowed us to stay during the survey. We asked good amount of questions and he did answer all of those.

johnpackt · 14-12-2021 12:53am

https://www.boards.ie/discussion/comment/118315639#Comment_118315639

In our case we exchanged the numbers with the seller of the house(We meat them for discussion related to sale of some household items). We both want to close as early as possible. This has helped us a lot in the process.(which is yet to complete 🥲) Whenever there is a long delay at least we/they know the reason. Also, this has helped us to push our solicitors because we know what is happening on the other side.

jood22 · 14-12-2021 1:17am

https://www.boards.ie/discussion/comment/118315639#Comment_118315639

We had exact same issue and found going to estate agent more effective

The Davestator · 14-12-2021 11:07am

Got the keys last Wednesday and been busy moving since. Used Finance Ireland and was very happy with them and the solicitor said they were the best he has dealt with over the years.

Went Sale agreed on 1st July and keys on 8th December. We had previously sold so were ready to go, but the chain went on and in up the line!

If you are getting close to closing, line up the broadband, Sky, Bins, changing addresses etc in plenty of time as sometimes this can take time.

Delighted to get in before Christmas and be in the home that ticked most of our wish list.

cnocbui · 15-12-2021 11:25am

I have been sale agreed since January, and the buyer is still lobbing 'one more week' excuses that whiz by. Are there any other ways to list a property on a no sale no fee basis, like auctioneera.ie?

Time to put it on the market.

JimmyVik · 15-12-2021 3:44pm

https://www.boards.ie/discussion/comment/118324281#Comment_118324281

Most estate agents do no sale no fee. You will have to pay marketing costs up front though.

I would have though delays of maybe 3 to 6 months might be possible but nearly a year is not on. Pull the plug and start again.

cnocbui · 15-12-2021 5:36pm

Most EA's charge a % of the sale price. The reason I am interested in auctionera is they have a no sale no fee option for €2K and no marketing costs. An EA is going to cost you multiples of that.

Yes, a year is not on but I'm not pulling the plug on effort already spent, I just want to put it on the market to add to my options. Supposedly the last thing needed by the bank is a cert of identity from the buyers engineer. Why the F they wouldn't be providing that as a matter of course, is beyond me. If they are in the business they should know what they should be doing and what's needed.

It's a commercial/business loan, not residential.

Hontou · 15-12-2021 9:38pm

We are sale agreed 3 months now. No chain. Contracts ready and signed on my side (purchaser) but not releasing them to the vendors solicitor until their tenant moves out. Bought knowing the tenant was there but that they had received their notice and we would be buying subject to vacant possession. They are due to move out after Christmas. I'm worried the condition of the house won't be as good as when I viewed it or worse the tenants will overhold. If the tenants overhold then I'll walk away. If they move out and leave the place in poor condition, can I ask the vendor to ensure it is in at least the condition it was in when I viewed it? Also, what level of legal fees would I have to pay if I walk away because I can't get vacant possession. I have already paid for a survey.

Emma2019 · 16-12-2021 8:28am

Your solicitor usually wont charge you if you use them for your next purchase. Or theyll only charge a nominal fee.

Survey costs and valuation cost is sunk.

I don't think a tenant will do too much damage in a few months unless they're really trying to. If they do, you can ask the vendor to remedy it but they're under no obligation. If they refuse your only option is to pull out of the sale.

Shelga · 16-12-2021 12:18pm

Anyone else find it irritating that basically nothing happens with a sale from early December to early/mid January? Like KBC stopping drawdowns for weeks on end- why?

Jafin · 16-12-2021 3:32pm

https://www.boards.ie/discussion/comment/118330119#Comment_118330119

Presumably because they have to get their end of year stuff done and then the banks are closed for the winter holidays. I'm fairly sure all the banks/lending institutions do this.

LeeroyJ. · 20-12-2021 2:41pm

Transfered over the Stamp duty, fees and LPT today. Hoping i get they keys pre Xmas now.

diceyreilly · 20-12-2021 4:32pm

https://www.boards.ie/discussion/comment/118351599#Comment_118351599

When i did that had the keys the next day.

JimmyVik · 21-12-2021 1:52pm

Ive a mate asking me to help him move. I dont want do do that, he will need a few trucks and im not going to be the sap lifting stuff while he point :)

Anyone got any recommendations for reasonably priced moving companies who they have used that could move a 5 bed house worth of stuff for him. Its about 20km, Dublin to Dublin.

If you have a pm would be much appreciated. Save my back :)

arleitiss · 27-12-2021 10:33pm

I am moving into my new house hopefully in March.

Just wondering - will it have no electricity until I sign up for provider or how does that work? (It's a brand new build)

Don't really want to move out of my current accommodation into uninhabitable property.

I visited site two weeks ago and it had diesel generator inside (So I guess there is no electricity).

Pete123456 · 28-12-2021 2:01am

https://www.boards.ie/discussion/comment/118379659#Comment_118379659

The builder will have set up an account and will give you the details and meter reading on handover. You just give these details to whichever provider you want to go with and they’ll set up an account. Don’t worry - there will be electricity and you will have a few days grace to get set up with an account

bleaks · 28-12-2021 6:37pm

https://www.boards.ie/discussion/comment/118317986#Comment_118317986

If this was in Dublin can you PM me the company please?

johnpackt · 29-12-2021 5:44am

https://www.boards.ie/discussion/comment/118382696#Comment_118382696

PM Sent.

31-12-2021 10:40am

Two months delay to our new build due to Irish Water. I heard stories like this over a year ago, but thought it would have been sorted by now.

House ready, sitting waiting for them.

Ciara26 · 01-01-2022 3:48pm

https://www.boards.ie/discussion/comment/118379659#Comment_118379659

Have you signed contracts etc? Asking as my new build is meant to be ready in March but I’m getting no info from anyone.

random_banter · 02-01-2022 2:18pm

We signed on the 16th December and the contracts were sent by post to be signed by the Vendor the week before Christmas Day … as offices are closed we don’t know if the vendor has signed yet but getting increasingly hopeful that we may actually soon have our own home!

Mortgage is ready to go, just need the close date to give to the mortgage protection company so they can issue and we can provide that to the bank.

Has anyone ever done a last minute inspection prior to close? The property has been lying vacant for some time now and its been 6 months trying to get this across the line. It’s not an unreasonable request, is it?

Jmc25 · 02-01-2022 3:30pm

https://www.boards.ie/discussion/comment/118405118#Comment_118405118

Yeah a last minute closing inspection is standard enough. Once contracts are signed you can't really pull out of the sale but if you spot something at that closing inspection your solicitor can delay releasing the funds which might be enough of a pain in the arse for the vendor to just fix it.

random_banter · 02-01-2022 5:56pm

https://www.boards.ie/discussion/comment/118405463#Comment_118405463

Thanks - That’s what we thought alright. Really just want to make sure no trees have crashed through the roof or it hasn’t been trashed by squatters, etc etc!

Ilongga · 03-01-2022 11:03am

https://www.boards.ie/discussion/comment/118405118#Comment_118405118

Absolutely a reasonable ask. We moved into a vacant property first week of December. It was unoccupied for a long time. We needed to check if heating is working as we need to line up a plumber if needed. There were also issues which the vendor agreed to address before closing and we needed to check if indeed they did. Also we needed to decide what furnitures will fit as we need to dispose of those that won’t. The EA had no problem arranging a property inspection for us… I also provided house access to our ( previous house) buyer when they asked.

TheMilkyPirate · 05-01-2022 1:47am

Viewing a house tomorrow evening. Needs a bit of work - flooring, painting, new windows + doors, interior doors, fittings, new bathroom and that's all we know from pictures. It's up for 220k would it be pointless to bid 205k in this day and age? We are one of the first to view it as far as I know and no bids yet.

holliehobbie · 05-01-2022 1:52am

https://www.boards.ie/discussion/comment/118419439#Comment_118419439

Don’t worry. If it’s in Dublin some vulture fund or other will pop up and offer far more than you can, and then lease it back to the council who will then be responsible for all the repairs etc. and will hand it back to the vulture fund after a couple of decades. Complete madness.

TheMilkyPirate · 05-01-2022 2:00am

https://www.boards.ie/discussion/comment/118419450#Comment_118419450

Far from Dublin thankfully!

holliehobbie · 05-01-2022 2:04am

https://www.boards.ie/discussion/comment/118419463#Comment_118419463

That’s good. Maybe go with your lower offer and see what happens? You can always go up a bit!

FromADistance · 05-01-2022 11:41am

https://www.boards.ie/discussion/comment/118419439#Comment_118419439

I would say this might be a strategy worth considering if the property was on the market for over 6 months but given what you've described & with prices increasing across the board, I doubt it would fly. If you really want to persue, have a second person lined up to make 'enquires' and possibly view on your behalf. Don't rush in with a bid. The place could be a crock of shite anyhow so don't let the heart rule the head whatever you do.

random_banter · 05-01-2022 2:14pm

https://www.boards.ie/discussion/comment/118419439#Comment_118419439

I would go in with the offer you feel is appropriate, and if it's not accepted or you are outbid, go up to where you're able/happy with. If it goes to what feels like 'stupid' money to you, that's probably a sign that it's time to walk away. We were in that position ourselves last year with a house we really loved, and while we kept bidding up, eventually we knew it had gotten 'stupid' and the gut feeling was that it was no longer exciting, it was terrifying.

We walked away. And now we are agreed on a house that's actually a much better fit for us so it ended well.

iColdFusion · 05-01-2022 2:43pm

https://www.boards.ie/discussion/comment/118419439#Comment_118419439

Go in with the lower offer but make it clear to the estate agent that you have done all your research regarding how much all the remedial works will cost, inflation in material and labour costs etc and you are very interested in the property as your home not just throwing low ball bids at various houses because you have some spare cash.

Chances are the next bidder will bid asking price anyway so you can decide from there, I really think some people have no idea how much it will cost them to fix up a house to a good modern standard these days and are getting themselves into trouble during bidding as they can't even imagine you could spend 100k fixing up a house.

TheMilkyPirate · 05-01-2022 4:42pm

Thanks for the replies and advice we really appreciate it! We'll go in with the lower offer and see how it goes.

miamee · 05-01-2022 5:19pm

https://www.boards.ie/discussion/comment/118422064#Comment_118422064

Nothing to lose! We viewed a house we really liked (also well outside Dublin) in November and knew it had been on the market since at least August. Lovely house, no obvious reason that it hadn't sold except that the asking price for the area was a bit high (IMO). Asked at the viewing if there had been many offers yet and was surprised to find that they'd only had one which was €29k below the asking price and had been turned down. We submitted a bid for €19k below asking and it was accepted almost straight away. We thought there would be a bit of back and forth about the price. It was a little bit more than we'd intended to spend but in much better condition than most other houses we'd seen in that price range, very well looked after with only cosmetic changes to be made. So worth submitting the offer, you can always come back with a higher one if it's turned down.

07-01-2022 5:15pm

Woohoo!! Finally received our letter of offer from AIB, after waiting 2 long months.

Just need to get the valuation done and a few other things and hopefully it'll be plain sailing.

Baby due in 5 weeks but don't want the pressure of moving that soon. Be great to tie it in with husband's parents leave and being off then.

D n G · 07-01-2022 6:33pm

Survey done, valuation done, bank done, our house sale agreed, sale agreed on our new house, contracts just about to be signed. Solicitor just rang and said that our vendors solicitor emailed her, this evening, requesting all their paperwork back and she thinks they are pulling out. We rang the estate agent we were dealing with who appeared to have no knowledge of this and was going to ring his clients to find out what was going on. Our solicitor was ringing the vendors solicitor and had to leave a message. From all speed ahead to a sudden stop! We're both stressed to high doh.

bleaks · 07-01-2022 6:58pm

https://www.boards.ie/discussion/comment/118434404#Comment_118434404

Congrats! Anyone know if AIB are offering exemptions at the moment?

07-01-2022 7:11pm

https://www.boards.ie/discussion/comment/118434894#Comment_118434894

Oh no, how stressful. Hopefully it isn't the case. To get this far and for them to pull out, very unfair!

Pussyhands · 07-01-2022 10:31pm

So are things still crazy in the market? I decided to let me mortgage approval run out after just 2 months without having physically viewed anywhere as things were so crazy.

Still a couple of ok properties advertised at ok prices but everything was going 10%+ over advertised last year.

Emma2019 · 08-01-2022 1:37am

Depends where you're looking. My hot take is that asking prices have increased so while things may not go 10% over, you're still paying 10% more.

This went for 337k recently.

https://davidross.ie/property/171-brandon-road-drimnagh-dublin-12/

diceyreilly · 09-01-2022 12:18am

https://www.boards.ie/discussion/comment/118435067#Comment_118435067

From what i heard the earlier in the year the more chance you have of getting one so ask on Monday.

random_banter · 09-01-2022 6:18pm

https://www.boards.ie/discussion/comment/118434894#Comment_118434894

Oh no, that would be an absolute let down. I was really on edge before contracts were signed by both parties, it seems that it’s quite common at the moment (our vendor kept threatening to put the property back on the market because they know they could get more of it as each month went by, even though they were the ones causing the problems and we were just asking simple questions). It’s a really horrible market out there.

Fingers crossed it’s a misunderstanding.

random_banter · 09-01-2022 6:24pm

It looks like we will draw down at the end of this coming week. I can barely believe it. This market has been so hostile. Don’t think I’ll believe it was possible until the keys are in our hands!

All required documents have gone to the underwriters, mortgage protection, deed of assignment of life, house insurance proof, etc.

Our latest approval/letter of offer was in October. I half expected the bank to ask for another proof that salary hasn’t changed etc. But how late in the day can they ask for that? The mortgage advisor says that’s all that’s needed for now (it’s BOI). Just want to make sure I’m not rushing to request last minute proofs.

We’re doing a pre drawdown inspection 48 hours before the date. The house isn’t habitable right now so I’m not sure there’s anything else I need to arrange (other than bracing myself for the stress of a renovation on a minuscule budget 😂).

random_banter · 09-01-2022 6:24pm

Donie75 · 10-01-2022 1:19pm

I’m currently selling my PRR and I also have my old apartment on the market (accidental landlord). The apartment has been on the market since September with no offers but there are apparently still 2 people interested. I’m going to drop the price by €10-15k to see if I can get it moving. I put my PPR on the market in November. There was a flurry of viewings and an asking price offer. The offer fell through and viewings have gone very quiet since mid December. I’m hoping things will take off again soon.

shesty · 10-01-2022 1:30pm

We moved on December 8th.Sold and bought on the same day.I feel like I lost 10 years of my life due to stress over PTSB in the week beforehand, they were appalling to deal with.We missed our agreed drawdown date and pushed into the next week.Our solicitor had us warned, had everything lined up well on time, and they were still a nightmare.Found ourselves in a position where our buyer's money landed for our house before our money landed for our new house.It was complete "Computer says no" stuff, just requesting a new document and then saying "we need 5 working days to approve it" and refusing to engage with us until those 5 days were up.Completely frustrating and we will be leaving them as soon as our initial fixed rate term comes to an end.

Ilongga · 10-01-2022 2:12pm

Our mortgage is with PTSB and we bought and sold on the same day last 3 Dec. Our solicitor advised us that drawdown date is just a guide and nothing is set in stone until everything is cleared with the Bank. The Bank is not involved in scheduling the closing date. They have their own SLA which is five days from when you have all the pre funding prerequisites submitted. Sometimes 2 days if you have a very good broker who has good network inside the Bank. So the onus is on the customers to consider the Bank SLA. There is no guarantee until the Bank confirms all documents are in place and you are queued for funding… So while we planned to close both purchase and sale in 3 Dec, the money has already been released by PTSB on 1 Dec and was with our solicitors account waiting to be transferred to vendors solicitors as soon as all final legal steps are complete. In my insistence, I asked for a trustee agreement such that we transfer the money to vendor’s sol on 2 Dec so that the money is there on trust and can be released until final legal searches are completed in the morning of 3 Dec… so even if the Bank has issued the funds already, the solicitor needs to ensure that it can get to the vendors solicitor on closing day. So proactiveness on the part of solicitor is also key.

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

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