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

We are Sale Agreed since mid January, and also approved with BOI. Everything is moving smoothly enough, we were the same and had hoped to get in ahead of the interest rate hike, but we have realised this week that its just not going to happen. We got our revised letter from the bank with the actual selling price, the valuation was done the week after sale agreed. Our solicitor advised waiting until she received the contract to arrange the survey so that the surveyor could review the documents received, the lang reg plan and any issues she wanted them to check out. I anticipated that the land reg map would likely only be a copy coming from the sellers solicitor so had ordered it myself and sent on to our surveyor. I had also reviewed and copied the old planning file in the council to save a bit of time. The sellers solicitor moved pretty quickly and got the contracts to our solicitor mid last week, and in fairness our solicitor reviewed immediately and sent a list of queries for our surveyor to check out. Our survey is happening today or tomorrow with a 1 weeks lead time to received the full report so we should have it by the end of next week, and hopefully sooner. We have MP lined up, just need to insert the start date, same for home insurance. But even with all of this, we are just not going to get in ahead of the 21st. You have to have all documents to BoI by 14th for their review, which only leaves a week. And if anything comes up in the survey and there is a need to go back to the seller, or do further research, it just doesnt leave any time unfortunately.

Also be aware that the bank will be incredibly busy with lots of people in the same position. For the last hike I couldnt get hold our our mortgage advisor for days with a query, so I am expecting the same this time. It is incredibly frustrating for sure, but we also want to give our solicitor time to review the survey report in full, and ensure that there are no issues in the contract etc. We checked with our solicitor and she said she was happy to go as quickly as possibly, but that it was unrealistic to think we could draw down by then. We also met the EA and seller at the house last week and the seller wants more time in order to move out, so we really we are caught. We are now hoping to be in by Easter, and continue to save ever penny while we wait.

Sorry its not more positive, just giving your our situation

Thanks. I know it’s not really realistic at this point. Our mortgage advisor is off today 😣. Wanted to see if Coujf progress stuff a bit more. My husband just got approximate costs from solicitor and they are nearly double what approximate costs were. What kind of prices are you being quoted?

Hi folks

moving to loan offer stage on a new build development…

one of the steps is that we have a bank evaluation completed

however the estate is not yet completed, completion is expected April May.

i understand a final evaluation is completed before draw down however how do we get past this part ? Seems like a catch 22 given we can’t evaluate it until it’s built/completed

The valuer does a drive by and certifies that the house spec advertised is in line with similiar property sales in the area for the price. A second valuation will be required for drawdown. The valuer that did mine reused the same template for drawdown as for the loan offer stage when the ground works were only being done (same photo of foundation with no finished house!) and the bank didn't even query it so long as they signed off that it was worth what was being asked.

You'll do two evaluations.

First is a preliminary one to move you to the next stage.

Second is just before drawdown to confirm the house is completed to spec. It's just a drive by. Chances are the same estate agent is doing a few houses in the estate and just copy-pastes the form. Easy 150 euro.

Interesting, thanks.

We are Sale Agreed, and just got a call from our Surveyor that there are planning irregularities with the house. Basically it was built in the 40s (exempt development by the council) and a comprehensive extension built in the early 70s, by a previous owner. The extension drawings, as granted planning permission, had a dining room (pitched roof extension) and flat roof garage beside it, but that whole section is now a pitched roof and is a larger room. There is also a porch at the rear of the house, which isnt on the drawings. There are also sheds not on the drawings. And some of the windows/doors are not where they are shown.

Now the drawing are from the early 70s is incredibly basic, hand drawn by the applicant himself (not the current owner).

The Sellers Solicitor has already sent the Contract and it included the planning permission for the extension, and also a Letter from an architect in the mid 80s (when the current owner purchased the house) certifying that it was largely compliant.

Surveyor is now saying it is likely retention is needed here. The house has been for sale for over a year, the previous buyers pulled out and I am starting to wonder if this is why. Surely if the seller knew this would be an issue he would have gone and got it sorted at this stage?

Will the seller argue that the compliant letter supplied with the contact is sufficient here? I know that if our solicitor cant confirm it is compliant it will affect our mortgage.

It is utterly frustrating and disappointing, I am really hoping there is a solution to this. We are not in a chain, but equally we dont want to wait months and months either.

Anyone else been in a similar situation?

I recently bought a house that was advertised as "attic conversion ready".

Finally got the builder in to do the conversion and he told me the ceiling height is too low to be considered a bedroom. It's going to be about 10cm lower than the minimum, so cannot be considered a habitable room. I'm fuming about this. Fair enough that it won't affect day to day living, but I can't advertise this as a bedroom if I ever go to sell the house.

Unfortunately estate agents get away with saying what they like to sell a house. The ad for the house we bought said the windows were pvc when they were clearly aluminium (obviously I could see this when I viewed it) but still, frustrating. The buyer has to do their own fact checking basically and use their surveyor and solicitor to the max to check things out, as these are the ones that are working for the buyer and paid by the buyer. Estate agents paid by the seller to sell.

As you say, won't affect daily living and most people can see if an attic conversion is advertised as an "office" that it is pretty much a bedroom if willing to use it in that way.

Ceiling height is just one factor. Another is means of access- if it’s a Stira only job then it will be classed as storage. Any stairs will need to meet regs also.

If we were living in a more normal rental situation, I'd be with you and say 'hand in your notice now'. But if you hand in your notice and, God forbid, there is some major delay, how long might you have to live with family? How difficult would it be to find another equivalent rental? Plus, if things did drag on / fall through and you started another rental, how long would it be before you could hand in your notice?

Yeah, he's a decent lad so I might try have a chat with him and see what he thinks. Stil leaning towards giving notice but I'll see how that goes.