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

We've made a decent but if progress but still have an unanswered query on the purchase contract.

There isn't a clause to protect us should the bank decide at last minute not to issue funds. If that happened we would be open to losing full deposit and being sued.

Solicitor said we could take gamble if we were confident in bank. We've spoken to bank and they seem to be ready to go but we're very unsure if we want to take risk. (Bank is kbc so who knows what could happen)

The purchasers of our house are desperate to get in so really don't want to cause more delays.

Has anyone had any experience with bank not issuing funds after loan offer? Our circumstances haven't changed apart from a promotion and pay increase. Also we're only requesting a bit more than half of what we were originally approved for so it isn't a high risk offer

All contracts now signed. Closure is, hopefully, Thursday next week. Keeping every finger and toe crossed that all goes smoothly and we finally move after the letdown in January.

You cannot 100% guarantee the bank will release funds come closing, even with loan offer issued. It was common practice, particularly with COVID, for the bank to request additional documentation even after loan offer was issued come sale closure or renewal of lapsed loan offer. Who knows what circumstances lie ahead in the coming weeks or months as you wait to close on the sale. Any unexpected additional delays on sale closure which happens from time to time can also increase the risk of a loan offer lapsing, in between your personal circumstances changing (for the worse) and bank refusing to issue funds. It's rare but not impossible. I would thread very carefully, speaking from experience. Our bank refused on closing week to issue funds due my partner being temporarily laid off expectantly. Luckily we had the protection of our deposit in our contracts.

Interested in peoples' thoughts on this one... Viewed a property yesterday, it's been on the market for at least a month; was up at 495, dropped to 475 on 16th June.

I phoned up on Mon/Tue this week to book a viewing, was told by the office that there was one offer at 435. At the viewing yesterday, the agent said 'we have an offer of 475, it came in just as we were dropping the price'. When myself and another person at the viewing said that that didn't match what the office had told us, the agent said 'oh, I must just have forgotten to register the bid yet'.

I've always been very sceptical of the 'fake bid' conspiracy theory, but something about this one seems a bit iffy to me... I'm considering phoning the office again on Monday to see what they say the current highest bid is, and if that matches what the agent said.

Went sale agreed in April on the house we are buying but then we heard nothing for weeks and weeks. Eventually we were told it was due to title issues.

The vendors have said we can move in and rent it for a nominal fee on a letting contract drawn up by our solicitor once he's seen the contract they are drawing up for the sale, based on the title documents they CAN find currently.

The vendors assure us that they can find the relevant documents and will be applying to register title. They think this might take 6 or 12 months at which point our letting agreement can terminate and the purchase proceed.

However, our solicitor has said he cannot guarantee that the search won't uncover other issues, nor can he guarantee that title application will be accepted if they can't locate everything.

So, we rent for a year but if it goes tits up we would have to move out.

Himself is also not keen on the arrangement because it's like putting our plans for the house on hold for a year and he really doesn't want to move again. But ...we are under huge pressure to move because our house buyers have been waiting for months now.

Please can you folks offer some thoughts ?

Frustrating and stressful it is. I'm from Britain and moving to Ireland. We've been over again this week trying to sort things out but I'd say we are no further forward at the point. ( writing this on the ferry home )

Contracts signed and exchanged, moving date tomorrow. House is 99% packed up and ready to go. I'm sure I'm forgetting something.

Did you tell the neighbours you secretly hated all along what you really think of them? 😄

It think the main things that can get forgotten are like moving your car ownership address, income tax address, telling work your new address, etc, the things that you aren't actually immediately changing like utility companies that can get forgotten until its time to tax the car.

Congrats and the very best of luck to you.

All going smoothly I hope to be in your position Thursday. Movers will be in on Wednesday and we're tagging where things are going in the new house. We also have stuff coming in our car and trying to remember everything is painful on the brain. The movers are holding our stuff for an extra day as we are moving to Donegal. They apparently set out at about 6 in the morning so we would not have the keys by the time they reach there. I'm so not unpacking for a few days after we get there!

If you were waiting 12 months and housing prices continued to creep up I would be worried that the vendors might decide their house is worth more? For me it would come down to how much trust I had in the vendors. It would also be a headache having to reapply for a mortgage if you are using one. However if you feel you otherwise would be renting for another year anyway you'd only just have the hassle of moving. The only pro's I could see though is that you get to find out if it is the house you truly want and figure out what you ultimately want to do with it.

Worst case scenario stuff here. Moving date today, our buyers are waiting on their house sale going through first. Apparently their solicitors only requested the mortgage drawn down this morning so their bank didn't release the funds until 4pm. Highly unlikely at this stage that our purchase is going through today. So movers have been sitting with the vans packed since 11am this morning. £95/hr. No storage space available overnight, fully booked for the rest of the week. Wtf do we do? Our movers are trying to sort something out for us but for the love of sweet mother fcukers, what the actual fcuk were the buyer's buyer's solicitors thinking?

I'm purchasing a house. Got the house valued last week in May. Broker advised it normally takes about a week for the bank to send mortgage pack after that. Its almost 5 weeks now !!! and we're just told everyday by the broker they are doing all they can to chase this up with the bank. I understand the banks are busy at the moment but 5 weeks and no end in sight is crazy :(

My loan pack which was just issued took a month, so 5 weeks isn't crazy.