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

leahyl · 03-07-2024 3:19pm

https://www.boards.ie/discussion/comment/122334646#Comment_122334646

Great to hear - congratulations! My search has been ongoing for many years, will be 40 next year and really could do with my own place now, fingers crossed it will happen for me soon.

snowgal · 03-07-2024 4:38pm

https://www.boards.ie/discussion/comment/122333950#Comment_122333950

thanks will try again. He told us he has been in contact with other solicitor and that all is going ok, but we know the other solicitor in a way, and they said they have heard absolutely nothing and the buyer is now looking at other properties, just cant understand it

Ivefoundgod · 05-07-2024 1:24pm

https://www.boards.ie/discussion/comment/122335673#Comment_122335673

We had hassle with solicitors during our purchase process too and know of lots of others who have similar problems. I naively assumed our solicitor was on top of things throughout the process but our experience was that unless you keep on top of them they won't do anything to move things forward. Once I figured that out it was fine but I would not take their word that all is ok, especially if your buyer is threatening to walk. You will need to be firm with them and don't allow yourself to be fobbed off, I let that happen for weeks and weeks (they and their staff seem to be experts at it).

Fitz* · 09-07-2024 11:06am

Have been bidding on properties for over a year as FTB. Pulled out of 1 or 2, and lost a lot of bidding wars. We finally thought that we had some luck coming our way when we got talking to a local woman who was selling her house. it's close to where we are currently renting so we don't need to uproot work plans, creche, schools etc. We agreed to pay a price and went to bed Sunday night thinking we finally had our house.

It's gone up on daft now as the husband wants more money for it. Pulled out of that deal as it will go for 100k over asking to someone who will rent it out again. That sort of house. Very frustrating.

Luckylow10 · 10-07-2024 9:33pm

Can anyone give their opinion on the “subject to loan” clause in the contracts?

I am in the process of selling and buying family home. Bit of a chain- FTB-our purchasers-me-vacant home

our buyers have requested the clause be put into the contracts, my solicitor has said it’s standard and recommended by the Law Society, BUT and a big BUT my bank loan offer has the condition of “unconditional and binding contracts be signed by the purchaser”.

as I’m both a seller and a buyer I can see both sides of the coin here.. I don’t want that clause put into my contracts for my sale but obviously would like it put in for my purchase 😂

kalych · 10-07-2024 9:45pm

No reasonable solicitor will allow their clients to agree to a contract without this clause if they're buying with a mortgage. So you may want this not to be put into the contracts but that may mean no sale

Luckylow10 · 10-07-2024 9:56pm

yes I’m afraid that’s what is going to happen, they will pull out of the sale or we won’t get our mortgage with that clause put in, so we are a screwed either way.

it seems like standard stuff so I’m wondering why do banks insist on unconditional contracts with those moving house 🤔

This is it · 10-07-2024 10:25pm

Yeah, we asked about it when meeting our solicitor when purchasing. She told us it's standard and she'd advise clients not to proceed without the clause.

986s · 10-07-2024 10:44pm

https://www.boards.ie/discussion/comment/122365187#Comment_122365187

Just been through the exact same scenario- selling and buying at the same time. Don’t see the major problem with the subject to loan clause for the purchasers of your house. Our loan to purchase our new property had the unconditional and binging clause also which our solicitor advised could only happen when the sale of our property closed- our solicitor requested the funds once this occurred and we moved into our new house one week after our sale closed. Not a major hassle all things considered.

Luckylow10 · 10-07-2024 11:12pm

Thank you, that’s very helpful and appropriate to our situation.

So it’s possible and sounds like there is a way to make it work.

Only thing is we are hoping we aren’t homeless for a week! We have two kids and a dog and no family or friends to move in with !

986s · 11-07-2024 1:53pm

https://www.boards.ie/discussion/comment/122365792#Comment_122365792

Also had two kids (no dog though). Moving out on a Friday morning and moving in to your new house on the same Friday evening is the ideal situation but in practice is difficult to pull off. Our loan contract also had a stipulation that our existing mortgage be cleared (not just a solicitor’s undertaking to do so) so there was no way this could be done on the same day. We rented a place in a activity centre type place for a week so the kids were happy enough- putting our belongings into storage for a short period of time was the biggest hassle by far but more than happy with the temporary pain to have allowed us to move to our forever house.

SharkMX · 15-07-2024 9:19am

https://www.boards.ie/discussion/comment/122357914#Comment_122357914

Just keep going.

That happened to us. We were agreed with the person who owned the house. It wasnt even advertised. Then the house a few doors down went up on myhome for about €50k more than we had agreed to pay. The person called the next day and pulled out. They put it on the market and ended up getting 105k more than we had agreed to pay.

The house we did eventually buy we located without it going on the market again (after falling through a few times because tenants wouldnt move out) and that sale happily went through with no tenants in it.

FinishedWithThePaper · 16-07-2024 6:57am

Hey

FTB currently going through the mill direct with a bank for a new build in Co. Wicklow.

Married couple 3 kids 34/35..

1st meeting with Bank – 13th February 2024

Mortgage application submitted – 8th May 2024

AIP Approval signed – 28th May 2024

Booking Deposit Paid – Tuesday 18th June 2024

Loan Submitted for Underwriters – 19th June 2024 (expected 2-3 weeks for decision: 10th July 24)

Builders contracts Delivered to solicitor – Monday 24th June 2024

Bank Loan offer letter Issued to us by bank – 8th July 2024 (so around 14 days after submitting)

Bank Loan offer letter signed and returned - 15th July 2024

Contracts Signed and sent back - 15th July

Waiting game now for the property to be finished.

Hope that helps someone

Best of luck to everyone, this is our second attempt to buy a house !! Stressful, but need patience.

Luckylow10 · 24-07-2024 7:45pm

Small update - vendor lives abroad so the house we are buying is vacant, they’re keen to have quick sale as previous buy fell through after year of sale agreed

We went sale agreed on the house 5 weeks ago, our solicitor received contracts to review lst wk, but now the vendors solicitor is saying deadline to sign is tomorrow !!

no clue where this deadline came from. We, my solicitor and the vendors estate agent are confused and scrambling to find out why there is a deadline.

to only give only one week for pre contract enquiries is unusual. to expect a chain sale to exchange in less than 5 weeks is unheard of surely?.

We have now started to look at other properties in case they pull out. Very slim pickings out there though for our needs.

Eims5769 · 24-07-2024 9:41pm

Hi all,

A question on pre purchase surveys. I received my report and it says the house is overall in okay condition considering the age, but notes a number of other surveys i should have carried out before buying. Is this normal, should I get all of these done, or just the surveyor covering themselves? I am sure it would cost a lot to get all done!

➢Arrange for an electrical inspection to be carried out. The electrical distribution board
is badly located and undersized in our opinion and requires review by an electrical
contractor.
➢ Arrange for a plumbing and heating inspection to be carried out.
➢ Arrange for an inspection of the underground drainage system.
➢ Arrange for a CCTV inspection of all chimney flues to confirm their condition.
➢ Arrange for an asbestos inspection.

This is it · 24-07-2024 9:48pm

https://www.boards.ie/discussion/comment/122422453#Comment_122422453

I think these are noted in most, if not all, surveys. Especially on an older house.

No one can tell you whether you should or shouldn't get them all, but I'll say that when I bought I didn't get anything further done.

I need work done but it was obvious work, things that the surveyor had also noted, like a replacement fuse board.

Luckylow10 · 24-07-2024 10:04pm

https://www.boards.ie/discussion/comment/122422453#Comment_122422453

personally,(unless strongly advised by the surveyor), I wouldn’t get anymore surveys done. It is very costly and if the sale falls through you would be down thousands.

I’ve just accepted buying second hand has its risks, more than likely work/maintenance will be required.

Eims5769 · 25-07-2024 9:18am

Thanks for the responses! i have asked my dad to look over it too in case there's anything that really concerns him. It's funny, you're so excited to finally get a place and then start to panic with stuff like this.

what_traffic · 25-07-2024 9:35am

https://www.boards.ie/discussion/comment/122422453#Comment_122422453

One decent engineer surveyor will be able to tell ya if ya really need anything on that list to be double checked by electrician/plumber etc

Roberto_gas · 25-07-2024 9:47am

https://www.boards.ie/discussion/comment/122423488#Comment_122423488

exactly looks like the surveyor is just covering themselves as its an old property.

tigger123 · 25-07-2024 2:31pm

https://www.boards.ie/discussion/comment/122423418#Comment_122423418

Surveyors are liable for anything they miss, and they can only see/survey so much without drilling into walls etc. So I think its more than likely him/her covering themselves.

Give them a call; they'll tell you over the phone whether they saw anything in partcicular that prompted them to include those items in the survey, or whether they've been included as a matter of course.

Good luck!

tigger123 · 25-07-2024 2:34pm

➢Arrange for an electrical inspection to be carried out. The electrical distribution board
is badly located and undersized in our opinion and requires review by an electrical
contractor

I would proceed with this btw; that's quite specific. The 'undersized' part got my attention.

I know someone who bought a house and the entire electricity supply was somehow routed via the switch for the cooker. Electrician said it was incredibly dangerous.

Underground · 04-08-2024 2:10pm

In the process of buying a new build house. My solicitors have flagged that the vendor is not the registered owner of the land but is the beneficial owner.

They’re seeking an undertaking from the vendor solicitor that the developer’s land registry dealing be completed as the transfer to the vendor has not fully completed yet. Right now all we’ve got is that they will use “reasonable endeavours” to complete same, as opposed to an undertaking.

This seems an issue to me as I’m not sure how the vendor would be able to pass on title to me if they are not the registered owner of the land.

Has anyone else come across this? If so, did you accept “reasonable endeavours” or did you look for an undertaking that registration would be complete? Thanks.

theboringfox · 04-08-2024 3:04pm

https://www.boards.ie/discussion/comment/122463041#Comment_122463041

They cant give an undertaking as it is something not fully within their control. I would have thought this is technical delay. Key is that your solicitor is satisfied everything done to complete transfer is done at this point

Sean2023 · 10-08-2024 10:13am

Hi, 2 years ago myself and my partner had bought a property using the Local Authority Home loan.
my question is can we sell the property? Is there any penalties? Has anyone tried selling after buying using Local Authority Home Loan from the county council.

Thanks

Gru · 12-08-2024 8:21pm

https://www.boards.ie/discussion/comment/122486570#Comment_122486570

it would depend on what property you used it to buy.

if you bought a private home with it, once your sale clears the outstanding balance (because you cannot transfer the loan to another property) i'd imagine it's like any other mortgage.

if you bought affordable housing then the rules for that would apply…etc

Doingitall · 14-08-2024 10:03pm

Prob saw this too late but 'subject to loan approval' is standard. We completed a sale this year and that was pretty much the only stipulation solicitor had.

dasdog · 26-08-2024 7:02pm

I'm looking mostly in D14 at the moment. In the past two weeks I've enquired about four different two beds:

The first was and still is listed as available but I contacted the agent and its Sale Agreed
The second was and still is listed as available but I contacted the agent and its Sale Agreed
I viewed and bid on the third which is a 1950's council house refurbished very tastefully - bidding finished at €646,000 which is outside my budget
The forth was and still is listed as available but I contacted the agent and its Sale Agreed

I've also enquired about a 1-bed in D6 which given the above is now looking reasonable at nearly €450,000