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

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    #9152
    LunaLoo
    Registered Users Posts: 122 ✭✭LunaLoo


    https://www.boards.ie/discussion/comment/119199929#Comment_119199929

    Could u ask movers what dates they have available and tell your solicitor that has to be the closing date no ifs and buts about it. That's what my parents had to do as buyer wanted a week later but they insisted it being the date the movers were available



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    #9153
    Tar.Aldarion
    Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 60,092 Mod ✭✭✭✭Tar.Aldarion


    Waiting on BOI to give the yes/no on an exception for a month now,was told it would take 2 or 3 days haha.



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    #9154
    Markitron
    Registered Users Posts: 3,157 ✭✭✭Markitron


    https://www.boards.ie/discussion/comment/119200257#Comment_119200257

    They are really annoying to deal with. You have to go sale agreed before you can even ask them for the exemption and then they leave you hanging. I lost a house last year after the vendor got tired of waiting.



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    #9155
    Tar.Aldarion
    Moderators, Science, Health & Environment Moderators, Social & Fun Moderators, Society & Culture Moderators Posts: 60,092 Mod ✭✭✭✭Tar.Aldarion


    Yup same as me, sale agreed over a month ago.



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    #9156
    misterreginald96
    Registered Users Posts: 21 ✭misterreginald96


    Hi,

    Has anyone had any experience in buying a house where the title is a registry of deeds? I can't find much information on line. Solicitor says it will take longer to investigate, but is this something to be worried about?


    Thanks all!



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    #9157
    Plasandrunt
    Registered Users Posts: 858 ✭✭✭Plasandrunt


    Decided to sell up my mortgage free apartment and rent for a little bit. I'm willing to sit on the cash for a few years and hope prices come down but if i see houses I like in the meantime I'll apply for small mortgage and potentially buy.

    I actually have the title deeds to my place here, this will speed things up a bit faster.



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    #9158
    yew_tree
    Registered Users Posts: 538 ✭✭✭yew_tree


    Typically how low should you bid under the asking price? I’ve heard anything between 5-15% ?



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    #9159
    TheGunns
    Registered Users Posts: 1,570 ✭✭✭TheGunns


    https://www.boards.ie/discussion/comment/119206381#Comment_119206381

    My experience of late is struggling to get a reply offering under asking



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    #9160
    TheRona
    Registered Users Posts: 1,831 ✭✭✭TheRona


    https://www.boards.ie/discussion/comment/119206381#Comment_119206381

    It depends on what you think it is worth/what it will go for, and whether you think low-balling might offend the vendor. I offered €20k over asking when first placing an offer on the house we eventually went Sale Agreed on. I was involved in a few bidding wars where people were going up in €1k increments at €70k below what it eventually went for. Painful.



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    #9161
    AySeeDoubleYeh
    Registered Users Posts: 132 ✭✭AySeeDoubleYeh


    yeah, most houses i've looked at (in Dublin) end up selling 10-20% over asking. The sellers know this, which means many are refusing to engage with bids below asking.



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    #9162
    Icantthinkof1
    Registered Users Posts: 410 ✭✭Icantthinkof1


    If it were me I would leave the underbidding to someone else unless there is or has been no interest in the house you are planning to bid on?



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    #9163
    Expateire
    Registered Users Posts: 5 ✭Expateire


    https://www.boards.ie/discussion/comment/119206381#Comment_119206381

    No such thing as under bidding at the moment or even over the last 18 months as far as I can tell, at least from my own personal experience down here in the Sunny SE.

    Even if there is under bidding going on, I've been tracking the sold prices on property price register and a large proportion (majority) of properties go for well over asking in the end anyhow.



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    #9164
    GoldFour4
    Moderators, Sports Moderators Posts: 4,983 Mod ✭✭✭✭GoldFour4


    We underbid on a few houses 18 months ago and it was an absolutely pointless endeavour I must say. Doesn’t seem worth it initially in current market unless the place has been for sale a while with no interest.



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    #9165
    iColdFusion
    Registered Users Posts: 995 ✭✭✭iColdFusion


    https://www.boards.ie/discussion/comment/119207145#Comment_119207145

    Yeah to be honest if it's a house you can move into in a decent location you need to be the first person in to view and go like 10k over asking with the first bid these days in the hopes it will kill off other bidders early days or at least reduce the field of competition.

    You might get away with an under asking bid for something needing alot work or out in the sticks though.



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    #9166
    Bluefox21
    Registered Users Posts: 321 ✭✭Bluefox21


    Just my own opinion of course but I would say time to go in hard to scare off bidders is passing.

    Average rate in US now approaching 6%. I think supply dynamic here means we won't see a sharp drop but I can definitely see prices stagnating around these levels.

    If you are in the process now, I would confirm with your mortgage in principle up to what date they will honour the rate quoted. This time 6 months avg rates will be 1% higher (already priced in re financial markets)



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    #9167
    EvoEvo
    Registered Users Posts: 36 ✭EvoEvo


    Hi Guys, quick question about the mortgage protection,

    What about the question " Is this policy written in Trust?"


    I see a lot of mixed opinions on this..I`m buying a second hand apartment (just me), in my name...So should I say no ? Thank you



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    #9168
    ELM327
    Registered Users Posts: 21,922 ✭✭✭✭ELM327


    Just came here to update the thread, as I've been saying for what feels like forever "when we get our house", for some hope to those that are still in the process.

    We got hit with every delay in the book. It was over one year since our approval letter to move in date. We're finally in our new house... which we underbid on and was accepted at 10k below asking. Finally moved in a couple of weeks ago and the relief is palpable



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    #9169
    pleh
    Registered Users Posts: 90 ✭✭pleh


    Congrats, it must be a great relief, best of luck in your new home



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    #9170
    Barnaboy
    Registered Users Posts: 1,772 ✭✭✭Barnaboy


    https://www.boards.ie/discussion/comment/119215041#Comment_119215041

    Congratulations, delighted for you. Best of luck in your new home.We have made the mistake of buying a probate property. The waiting is horrible. Feels like nothing happening for an eternity.

    Had great plans for renovating our new home over the summer. More likely to be doing it over the winter now.



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    #9171
    odyssey06
    Registered Users Posts: 29,367 ✭✭✭✭odyssey06


    https://www.boards.ie/discussion/comment/119214914#Comment_119214914

    Based on this you would say No.

    Who shouldn’t write life insurance in trust?

    While it’s thought that most people don’t write a policy in trust because they don’t know about, it or believe it’ll be too much hassle, there are cases where the option wouldn’t be suitable.

    • Holders of joint life insurance policies
    • Holders of life insurance that needs to be assigned against a loan
    • Holders of policies which include Serious Illness benefits

    https://onequote.ie/writing-life-insurance-in-trust/

    "To follow knowledge like a sinking star..." (Tennyson's Ulysses)



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    #9172
    Glaceon
    Registered Users Posts: 2,085 ✭✭✭Glaceon


    Managed to get our mortgage drawn down on the very last day! The letter of offer expired last Tuesday and the bank initially wanted us to reapply but the solicitor got it over the line that day. The house isn’t fully ready yet but has been snagged and the snag report is with the builder. It means we’ll need to make mortgage payments as well as rent for a short while, but we can manage that for now. Hopefully we should have the issues resolved in the next few weeks.

    The worst issue found was in the front parking spaces - they filled up during heavy rains due to no drainage. I’d say that might be an awkward one to resolve as it would probably need the space to be dug up again to install drainage.



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    #9173
    wanderer 22
    Registered Users, Subscribers Posts: 2,142 ✭✭✭wanderer 22


    At sale agreed stage ourselves. Our mortgage protection has gone to underwriting with Irish life - can anyone give an indication of how long this might take? Cheers



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    #9174
    joeguevara
    Registered Users Posts: 8,054 ✭✭✭joeguevara


    Sorry for not updating, house sale went through without a hitch. Only annoying thing was they wanted a complete removal of everything without much time.

    but now on holidays before a move to Bermuda. Hope all is well with everyone’s buy/sale.



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    #9175
    Glaceon
    Registered Users Posts: 2,085 ✭✭✭Glaceon


    https://www.boards.ie/discussion/comment/119225163#Comment_119225163

    For me it was about three days. They added a loading for my wife due to a potential health issue but other than that it was fine.



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    #9176
    Gant21
    Registered Users Posts: 1,261 ✭✭✭Gant21


    https://www.boards.ie/discussion/comment/119224944#Comment_119224944

    That could be a big snag.



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    #9177
    cave_dweller
    Registered Users Posts: 160 ✭✭cave_dweller


    Looking for some advice. I went sale agreed on a lovely house in late April. A few weeks prior to that, I’d changed jobs and of course I had a probation period. Prior to taking the job, I’d spoken to the mortgage broker who told me it would be ok as long as the move made sense, i.e. same industry, similar position etc. I mainly took the job as my salary increased by 20K per annum and I don't believe that good of an opportunity was likely to crop up again anytime soon. 

    Due to the job change, the broker told me the bank (BOI) were reviewing the file and would likely issue a new AIP. That only came through on June 6 (requested it end of April). Since then, no word. Is this normal? My solicitor has been on to me that the seller’s solicitor is putting pressure on them to move things along and could I send them the loan offer by email. But I don’t have the loan offer… what should I do here? As far as I understood, the valuation has to be done and then the loan offer issued, I don’t know if I can speed this up? I’ve tried to contact my broker since Friday and no word from them. Bidding on houses was super stressful and I thought the worst was behind me but now it seems even worse as I can't get any timelines from the broker/bank and the estate agent + solicitor is messaging me every few days for updates I don't have. Any advice appreciated.



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    #9178
    wanderer 22
    Registered Users, Subscribers Posts: 2,142 ✭✭✭wanderer 22


    https://www.boards.ie/discussion/comment/119225163#Comment_119225163

    Mortgage protection sorted and loan offer issued today - hopefully on the final stretch...



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    #9179
    Man with a plan
    Registered Users Posts: 47 ✭Man with a plan


    I am currently purchasing and sale agreed and have everything in place ready to go. However I got the house valued nearly 4 weeks ago and I'm still waiting for the bank to send out the mortgage pack to Solicitor. I was was told by the broker this normally only takes a week or so and broker has been "chasing" them but still waiting.

    Is this normal ? or does anyone know if there is currently a delay with the banks ?

    Thanks.



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    #9180
    yer man!
    Registered Users Posts: 1,652 ✭✭✭yer man!


    https://www.boards.ie/discussion/comment/119229122#Comment_119229122

    When my bank was getting slow with things like valuation and loan offer, I literally called them twice a day for a week until it got sorted. I found it helped put on a bit of pressure.



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    #9181
    Ilongga
    Registered Users Posts: 55 ✭✭Ilongga


    https://www.boards.ie/discussion/comment/119229122#Comment_119229122

    Sorry to hear about the stress and well done on getting a higher paid job! There is no reason for the bank not to issue a Loan Offer. In fact your position is now improved so getting a loan offer should be easier. Put a pressure to your broker. Most of them have networks inside the Bank which they can lean on to speed things up. Your probation will only affect your drawdown. But hopefully your are out of probation when you’re closing the sale. Even if you are not they can make an exemption if your job change is on same industry and line of work. This happened to us. My husband changed work but it was ignored by the Bank as it was same industry but with promotion and higher pay.



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