How are houses being sold with current restrictions?

G

Germaine

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Just wondering how houses are being sold with current restrictions. Estate Agent said that those 'ready to go with mortgage approval' are making offers from videos of the properties. I'm not sure how this would work as if I were buying a place I'd have to see it in the flesh, but thats me.

If a house is empty, are rules different around viewings?

I have a house to sell due to a family bereavement.

I'm speaking to agent tomorrow just wanted to get everything in order with my questions.

Thanks
 
You do a virtual tour . Make an offer . If accepted put a booking deposit down which Is fully refundable . You can then view the property at that stage and if your not happy you can get your deposit back . I am told estate agents are out the door at present. I know of a property in my area sale agreed at 30k over the original listed price
 
I wonder if estate agents are exaggerating how many potential buyers are bidding on virtual viewings, I tried a few, none would have made me place a solid offer down, one viewing was literally a 1 minute run through the house on bad quality video
 
Physical house viewings by estate agents are linked to the Construction Industry under current Covid restrictions. It is anticipated that viewings will recommence when the Construction sector is reopened on 4th March.
But even then, it will likely revert to very limited viewings i.e. you will only be able to book a viewing if you have watched a video of the property online and you have proof of funds. Apparently a lot of estate agents were happy enough with these restrictions in 2020, as it removed the tyre-kickickers and ensured mostly serious viewers attended.

Personally, I think it's fairly risky for a seller to go Sale Agreed based on a virtual viewing. You'd be opening yourself up to the buyer playing the 'oh I didn't realise the house had/hadn't got xyz... I need a discount now' card. You'd have to give them a discount or start over.

2020 was a crazy year for residential property and 2021 is set to be similar. Things will be quiet during L5 lockdowns, and absolute chaos during periods where viewings are permitted.
Particularly in Dublin, the supply shortage has not disappeared and looks set to dictate prices for some time to come, in my opinion
 
Ryan said:
How much is a booking deposit?
Click to expand...
The booking deposit varies. It's quite simple - it's enough to fully cover the estate agents commission, and outlays, rounded up. That way they're not sitting around waiting for solicitors to transfer money to them.

Some examples; 350k sale price 7,500 to 8,000 booking deposit.
750k same price, c. 16k deposit.
 
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