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

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  • Registered Users Posts: 492 ✭✭Aph2016


    Two weeks I think. Why are your buyers only starting the process now? Time wasters.



  • Registered Users Posts: 312 ✭✭MrsBean


    After getting the property survey back we have the wind taken out of our sails a bit, everything else trucking along nicely - got the loan offer yesterday too but we were too bummed out about the survey to celebrate! Finding the survey report a bit difficult to interpret, on first read seems all seems atrocious, second read less so etc.. language open to interpretation and probably a bit of arse covering going on.


    One question I have is, where the surveyor has suggested further inspection is required, on two specific issues he had said it should be arranged by the vendor. Would that be the norm? Do we ask the EA to sort that or go through solicitor? The main issue seems to be placement of a velux window in an attic conversion which may need to be removed if can't get exception.


    Other main issue is kitchen extension roof 'needs to be replaced' but no indication of how urgently. We intend to knock and extend anyway in a few years so not sure if we're ok to last til then.


    Anyone else struggled with survey reports and the ensuing disillusionment??



  • Registered Users Posts: 3,133 ✭✭✭akelly02


    doesnt sound like a great survey tbh


    my survey had a grading system of hoe urgently things needed to be looked at



  • Registered Users Posts: 4,437 ✭✭✭robbiezero


    Survey done - No major issues - One Drain blocked with soil - He recommended a camera survey of the drains and when I asked about getting a utilities survey, he recommended maybe getting the plumbing surveyed, but I'm not sure I will be arsed. There is a new boiler in etc, so I imagine they must have looked at that themselves



  • Registered Users Posts: 8,432 ✭✭✭RedXIV


    I think the expectation is that a survey is there to find problems so it's always a bit disheartening when they are found, but the context is important. Like @akelly02 said, the survey I've gotten done has graded how important the individual issues are and also I would have thought it was common enough to talk to the surveyor after if you had questions? I've definitely done that on both surveys so far.

    The surveyor then should be able to talk through what next steps might look like, but remember, there is the norm and then there is your scenario. Just because the standard is to have the sellers pay for some checks doesn't mean these ones will be willing. Take from that what you will, some will be suspicious of why the sellers wouldn't do that but others will understand that they may see it as an extra cost that may not even lead to a sale.

    I would definitely see if you can get your surveyor on a call for 10 mins, you may feel 10 times better after it. But I'd be lying if I said the words "the roof needs replacing" wouldn't worry me. That could be a big expensive job.



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  • Registered Users Posts: 4,437 ✭✭✭robbiezero


    Mine was with propertyhealthcheck.ie completed this morning. The guy rang me after it to give me the low-down in advance of the report.

    I had expected to hear a fairly arse-covering non-committal account which would leave me a bit worried and having to parse out whether there was anything substantial, but his first sentence was "Good news, no major issues" - which caught me by surprise.


    I don't mean to sound gloating or anything here, that's not the purpose of my response, but rather to indicate that if the surveyor does indicate some major issues - it might need to be taken seriously. Hope it all works out for you anyway, I was quite nervous about our survey, it is tough to come that far, especially in the current climate and receive a set back, but hopefully all is resolvable for you without too much hassle.



  • Registered Users Posts: 273 ✭✭Galwayhurl


    How do you find a surveyor? We're buying a new build and will need one for a snag in a couple of months.

    What do I google for? Just "surveyor" or do they have a longer title?



  • Registered Users Posts: 5,397 ✭✭✭This is it


    Just Google snagging but usually better if you can get one recommended, same as a surveyor. Prices will vary but cheapest isn't always best. If you can't get a recommendation be sure to at least check their reviews online, and if possible ask for a sample report.



  • Registered Users Posts: 10,012 ✭✭✭✭Alfred Borden


    Completed a purchase of an apartment in Dublin on my own and moved in a few months ago. I really like the area but just cant settle in the apartment at all. I feel like I have made a major mistake in purchasing the apartment and should have waited and bought a house with my partner. I feel like I blew all the advantages that would be open to a FTB for us both going forward.

    I contributed almost 20% of the funds to the purchase from my savings and I'm getting worried that if prices were to drop, I'd be back to square one minus most of my savings. Would it be foolish to sell so soon? I want to give it a fair chance but worried I'm wasting time on something that was never going to be my final planned home and with an impending price crash. I know I can expect some loss on the valuation as well as estate agents, bank fees, etc.



  • Registered Users Posts: 312 ✭✭MrsBean


    Thanks, yep, call scheduled for tomorrow. I hope he can put it in plain English so we can better assess the risks.

    The report sets out what it means by immediate, short term, medium term etc at the start and then only uses the word immediate once in the report and no other time frames referred to.

    A roof needing to be replaced would scare me too if we didn't already intend to knock it and extend in 3-4 years. Again, no indication on time frame or urgency on that issue. Anyway, will see how the phone call goes tomorrow and what will be will be!

    I was expecting to be deflated but not to this degree! Im disappointed in the report in the same way a parent is disappointed in by bad LC result!! I'm not angry at you I'm just disappointed 😂



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  • Registered Users Posts: 2,278 ✭✭✭Cork2021


    very disappointed today, we were due to view a house we think we want later on today but the vendor pulled out as the house was untidy! She knew about it since last Saturday and is now heading off on holidays and we can’t view until the 30th of June!!! Going nuts!!



  • Registered Users Posts: 8,432 ✭✭✭RedXIV


    If there is one thing I learned about buying a house, it's get recommendations on who you deal with. Our surveyor was referenced by a friend as "expensive but good". He's been brilliant. Our broker was referred by a former work colleague, again, couldn't ask for better from my broker. Picked the solicitor down the road because, he was down the road and thought it'd be handy. The man makes glaciers look fast. Really wish I had gone with someone's reference for that.

    Moral of the story, ask about and see who people recommend for surveyors, especially if you know anyone who'd have engaged one recently



  • Registered Users Posts: 15 STEVEPRATT89


    Hi all,

    Purchased a house from plans in 2019 long story short house is finally in the closing stages waiting on Irish water for connection. We have a letter of offer from Avant with interest rate of 3.3% fixed. Their rates are due to go up tomorrow the 16th. Are we going to have any hope of retaining this interest rate for when we draw down which we are hoping to do before the end of the month. We signed the letter of offer on the 2nd of June. I heard they give a certain amount of grace when you have been given a certain rate?



  • Registered Users Posts: 615 ✭✭✭J_1980


    There will be no property crash.

    you can always try to sell and make up a story (vendor has a job offer from Australia etc.). If the alternative is buying a house, might as well do it. If it’s renting, stay where you are.



  • Registered Users Posts: 507 ✭✭✭AH92


    Hey!

    I feel so bad for you we feel frustrated waiting this long but can only imagine how you're feeling. Now we're told it might be a couple of months to sort out as sellers solicitor still has to transfer folio from council over. Simply fuming over this as we were hoping to avoid any interest rate rises.



  • Registered Users Posts: 4 hopwestlimk


    I am with you on the rate hikes, lost count of how many there has been since Dec, and i think ill miss one or two more too before this saga ends🙈 here is a quick timeline of my events so far.. I think I lost 6-7 weeks between Dec/Jan (solicitor pressure for prior Xmas closings and hols), I think contact was only made with council mid Jan, council did say (verbally) that folio was not updated when house was purchased from them (just an oversight), it took from late Feb/early Mar until 2 weeks ago for them to instruct their solicitor to resolve! My solicitor wont do anything until she sees written confirmation that vendors actually have title to sell, which is the right way. Have long ago given up thinking anything is going to be quick about this.. the wait goes on! If its the house for you, don't give up just yet, you'd never know - my story might just be the worst out there 😫🤣



  • Registered Users Posts: 330 ✭✭ingo1984


    My sister was bidding on a house with one other party. They had put in a bid of 465k, however did not hear again from the EA. When they enquired to the EA, he informed them that the vendor had accepted the other offer of 470k cash offer. I find this weird that 1) the EA didnt contact them to inform them of the other offer and 2) ask them if they wanted to submit a counter offer. I have a feeling there is something back handed going on. They informed the EA that they would like to make a counter offer of 482,500. However the EA informed them that the property was sale agreed and deposit had been paid.

    What are people's thoughts on this practice? Is this normal?



  • Registered Users Posts: 1,182 ✭✭✭DataDude


    It’s unusual but not unheard of. Some sellers will only want to sell to cash buyers. We had multiple house where we were bidding for ages against a cash buyer. We ended the highest bidder but the cash buyer still got the house and we were just used to extract the most money from them. We never had a chance.

    Your scenario actually seems more decent and less greedy. They got the price they wanted from the people they wanted. They didn’t waste your sisters time and get her hopes up unnecessarily for a house she was never going to get.



  • Registered Users Posts: 330 ✭✭ingo1984


    I just find it odd that a vendor would accept a bid without knowing that the other party weren't asked if they wanted to counter off. As I said my sister was going to counter offer 482,500 but we're never given the opportunity. That could have forced cash buyer up to 485,000. Why accept a bid when the other party have not yet signalled they are pulling out.



  • Registered Users Posts: 7,581 ✭✭✭suvigirl


    Probably because they just wanted the cash buyer.

    I did the same when selling my old house, the bidding was dragging and in the end there were 2 bidders left, one cash buyer and one mortgage. I just took the cash buyer



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  • Registered Users Posts: 330 ✭✭ingo1984


    They've accepted a bit which is about 60k under market price. Three bed, 102sqm turnkey apartment listed at 400k. Two bed 80-85 sqm in the last month same block were selling for 410 to 420k. Which would put value of the three bed north of 500k. I just find it interesting that 1) the EA was lost it totally undervalued and 2) present an offer to vendor without confirming that it was not the final bid or that one other party was still interested in bidding. My sister was going to go over 500k on it, but was never presented the opportunity. She's going to request confirmation from the EA/vendor that her bid was presented to them.



  • Registered Users Posts: 7,581 ✭✭✭suvigirl


    You think the apartment was worth 500,000. That's your opinion. I'm not sure one more small bedroom in an apartment would be worth nearly 100,000 to everyone!

    The sellers took 470,000 cash. Sounds fair enough.



  • Registered Users Posts: 1,182 ✭✭✭DataDude


    Not sure I’ve ever heard someone complaining about a homeowner selling their house for too little 😂. Sound like decent people of strong morals who were happy with the price they got and didn’t want to drag your sister through a bidding process she couldn’t win.

    If your sister is that keen, I’d drop a note in the door direct to the owners saying she’s happy to offer €510k or whatever. The EA won’t engage further once property is sale agreed, it’s against their code of conduct.

    An extra 12k probably won’t sway the seller. But an extra €50k might cause them to think again about only dealing with cash buyers.



  • Registered Users Posts: 1,312 ✭✭✭Deub


    There will be no property crash.

    Bold statement to make because no one knows what will happen. To the OP, go to a EA, see what the valuation is and go from there.



  • Registered Users Posts: 330 ✭✭ingo1984


    In the last month alone in the same block a 140sqm sold for 750k (5,350 per sqm) 80sqm sold for 420k (5,250 per sqm) this one was 102sqm for 470k so 4,700 per sqm. Just seems odd.



  • Registered Users Posts: 330 ✭✭ingo1984


    Exact same apartment in the block was listed by a different EA this month at 475k and sold for 525k. This apartment was listed at 400k and sold for 470k. Just doesn't add up. Shall wait and see whether the EA communicated my sister's bid to the vendor or was the vendor told that the cash bid of 470k was the only bid left.



  • Registered Users Posts: 330 ✭✭ingo1984


    Incorrect, code of conduct states that the EA is legally obliged to communicate bids to the vendor even if it has gone sale agreed.



  • Registered Users Posts: 1,202 ✭✭✭herbalplants


    The cash buyer could have easily hand the EA a brown envelope with 5k cash to sweeten the deal and say hey the other bidder stopped bidding... Meaning your sister.

    The EA need a big wake up call, they act like they personally own all housing stock in Ireland. The process of bidding is not transparent at all, and relies on one person EA.

    Living the life



  • Registered Users Posts: 5,127 ✭✭✭Padre_Pio


    A more likely answer is the seller was happy with the offer and took it. Maybe they were under pressure to sell and didn't want to drag on for another few weeks.

    My parents were the same, they had a price they wanted to sell at, and once they got it the deal was done.

    Cash buyers are always preferred.



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  • Registered Users Posts: 4,955 ✭✭✭what_traffic


    Ya the EA should have communicated the higher cash bid, but after that - nothing really to see here once the seller was happy with such a cash bid.

    Poor form for the EA to be wasting your sisters time as all it would have taken is a 2/3 min phone call.



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