go through with contracts?

Re: Advice sought for sale of Apt

bacchus said:
May be it is time to accept that negative equity does exist even in Eire....

Are you selling because you have bought an other property? if that the case, it would be fair to expect to get the same % discount on the new place as you are giving away on your current one. Net result is that you will have less debts...
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hmm well as we already agreed to pay a price to the builder 2 months ago, can't really go back now and tell them we want it for 15k less
 
Re: Advice sought for sale of Apt

You can-of course they can say no, but if you don't ask.....
 
Re: Advice sought for sale of Apt

Apple* said:
hmm well as we already agreed to pay a price to the builder 2 months ago, can't really go back now and tell them we want it for 15k less
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Well if you haven't signed a contract yet, then yes you can (& should).
 
Re: Advice sought for sale of Apt

Property is only worth what somebody is willing to pay for it.
 
Re: Advice sought for sale of Apt

they'll say no! there was a load of people looking to buy those particular houses. builder would just say goodbye and good luck!
 
Re: Advice sought for sale of Apt

no harm in trying, you can still pay the original price if you want.
 
Re: Advice sought for sale of Apt

hmm well my situation might ba a little differnt. builder is already doing me a favour by waiting for me to sell my current property. he'll tell me where to go if i tell him i now want it at a lower price. As i said, he'll easily get a buyer for the full amount.
 
Re: Advice sought for sale of Apt

Apple* said:
they'll say no! there was a load of people looking to buy those particular houses. builder would just say goodbye and good luck!
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Apple* said:
EA told me that due to the interest hikes, FTB's are preferring to rent as the rent is lower than any mortgage payments they would take on, thus their not buying. market is dead as a doornail at the moment.
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Am I missing something here?!?!?
 
Re: Advice sought for sale of Apt

Apple*-can you see that there really is only one answer (assuming you cannot hold the property to rent)-keep dropping the price until you get a buyer or walk away from the new property?
 
Re: Advice sought for sale of Apt

Apple* said:
hmm well my situation might ba a little differnt. builder is already doing me a favour by waiting for me to sell my current property. he'll tell me where to go if i tell him i now want it at a lower price. As i said, he'll easily get a buyer for the full amount.
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As easy as you are finding it to get a buyer for your full amount?
 
Re: Advice sought for sale of Apt

yes and if you read my own thread I believe i said that it's looking like my only option is to relinquish my interest in the new property..
 
Re: Advice sought for sale of Apt

my propert is an apartment. the property we are buying is a large family detached....different markets IMO.

anyways thanks for the advice guys. back to square one me thinks!
 
Re: Advice sought for sale of Apt

you never know if your builder has sold all the houses - he may say he has....
are you using the same EA as the builder? this may help in negotiations. i reckon explain your situation to builder. if he dosen't reduce price maybe he will be more patient for you selling your apartment.
 
Re: Advice sought for sale of Apt

yeah we're going to meet with the builder tomorrow and see if he's happy to wait. if not, we'll pull out and i won't go looking again until my current property has sold.

such a pity cos its a lovely house.
 
Re: Advice sought for sale of Apt

Apple* said:
such a pity cos its a lovely house.
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Don't get too downhearted! As the saying goes: "If it's for you, it won't go by you!" If you have to relinquish, remember that you may have saved yourself a lot of grief in the future, maybe even bankruptcy!
 
I had a friend in your situation last year. He released equity from first property (only 1 year old also) then rented that property out and used equity as deposit for new property. Rental market it thriving at the moment. Discuss this with your broker, it may be an option for you....
 
Apple,
Don't believe everything builders say!

I do some viewings for them at weekends and I know what sometimes goes on....and especially in this market.

Big family homes are of course affected by smaller houses and apartments not selling. It's the knock on effect. Very few people can afford to walk in off the street and buy a 4 bed without selling something else first. It could be that a lot of his buyers and potential buyers are in your situation too.

I really hope this all works out for you. I know what it is to set your heart on something. But if it doesn't work out remember there are lots of people selling big second hand houses out there who will negotiate on price because whatever about a builder your average Joe soap usually can't afford to wait too long for his house to sell.
 
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