Just put deposit on house a few Queries

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Headachecity

Registered User
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Hi,

We put a deposit on a house at the weekend and the vendor wants a valuation done by Wednesday or he will sell it to the other interested party who we beat in the bidding process. Now I love the house and want it and hope to be in prior to Xmas but do you think this is a bit much or what??. A copy of our loan approval was given to the EA on Friday aswell and we are hoping for this to be as fast as possible,everything on our side organised so it's a matter of how quick vendor is.
I told our broker this morning it has to be done and he is arranging it but when I think about it it's a bit like dangling a carrot to us isn't it, a do or die scenario.
We have been to hell and back with buying a house (FTB's) as regards deciding where we were going to live but the way the market is I don't think a vendor can be this forceful or then again I suppose if I were him and wanted my house sold I would want proof the buyers are serious but he requested copy of loan approval and got it, or we being walked on coz we are FTB's???
 
Given that the market is fairly quiet your broker should be able to get a valuer in today or tomorrow so I wouldn't worry about that. Perhaps the vendor has been let down or messed about by a previous buyer and wants tangible proof that you are serious - a survey or mortgage valuation is good evidence that you are ready to proceed. I would play hardball back - they want a quick valuation? Fine. YOU want the contracts with your solicitor by the weekend or you'll buy the "other house you are equally in love with".

Good luck and let us know how it goes!

Sarah

www.rea.ie
 
Thanks Sarah, the EA is fully aware that our offer on 2 other houses were accepted so he knows if we are messed around we can take one of those ones, he is also aware of how much we want/need our own house!!. We were actually the first to see the house we are buying and put the first offer in and got it but others had seen it while the vendor was "thinking" about our offer!.
I know the valuation is being done tomorrow morning so it's grand and I will play hardball now that we have kept our side of the bargain, they can keep theirs. I want to have Xmas dinner in my own home and kids to open pressies under the tree in their home!!. Then again by the time the vendor gets the deeds off his bank god only knows, the EA told us that might be the longest part of the whole process!. Thanks again Sarah, as always excellent advice.
 
We had the same situation when we bought our house!...

Our bid was accepted on the Friday, we were off on hols on the Sunday... but the EA wanted us to have the Surveyor turn up while away, and our booking fee paid also... On the Friday I rang a surveyor, gave him the EA's number - and my mother agreed to arrange the booking fee for me whilst away!


As a FTB, buying a house for me was one of the most stressful things I ever did! THE EA we had was very pushy! But I know she was being pushed by the vendors (as they had another house they were moving in to!!!)
 
We are in the same position, vendor has built a house and needs his house sale etc. I'm stressed to bits!!. You feel like an awful eget sometimes during it all though like as though there are people lining up to make demands and threaten this, that and the other!!. Can't wait till it's all over!!.
 
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Headachecity said:
We are in the same position, vendor has built a house and needs his house sale etc. I'm stressed to bits!!. You feel like an awful eget sometimes during it all though like as though there are people lining up to make demands and threaten this, that and the other!!. Can't wait till it's all over!!.
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Our adventure into Irish house buying in early summer was so surreal and crazy compared to past purchases when living overseas that we've decided to stay out of the market until it shows some semblance of normality.

One house we liked had a very edgy vendor and another bidder who was very aggressive both in terms of bid increments and the time we were "allocated" to consider placing another bid. The pushy bidder seemed a good match for the hurried vendor and he got the house.

Going by neighbouring house sales, the winning bidder appears now to be in a deepening negative equity situation. Might not matter to him as I think he purchased it for PPR but I'm still glad it's not me !
 
Headachecity said:
We are in the same position, vendor has built a house and needs his house sale etc. I'm stressed to bits!!. You feel like an awful eget sometimes during it all though like as though there are people lining up to make demands and threaten this, that and the other!!. Can't wait till it's all over!!.
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Well its worth it when its all over!! Believe me!!

A colleague of mine recently moved to Norway, they had bought their house in a matter of days, view the house, bid done in a certain time period - nothing like buying/selling a house here in Ireland.

Buyers received a LIST of issues with the house before buying it (estate agent/buyer arranged)... i.e there is damp in the Basement, X&Y need improvements. When buying in Ireland, you have to do your utmost to find out if the Vendor is "hiding" something... the Structural survey does put your mind at rest - but it would be a much better process if this was a more open contract!
 
Hi Headachecity,

Did you not go ahead with the house in Navan you had previously put a deposit on?
 
No, we are going to Arklow and pulled out of the other house last week, hated making that call to the EA up there, got my husband to do it as he is the one who threw the spanner in the works. I decided to agree with Arklow as it's only going to be for max 4 years and I have to keep my family together, no point in divorcing over where to buy a house is there??. I just got sick of arguing. Upside is the kids can stay in the same school and creche so the only change is a new house for them so it can only be good despite the fact I am going to be terribly lonely!!. Billy no mates on the horizon...ah well I'm a busy working mum so no time to sit there wasting anyway!
 
Guys, another question. We have kept to our side of the bargain and now the valuation and everything is done, from the start the EA told us vendor only wanted a serious buyer and a quick sale so we went for it. So, just off the phone to my Solicitor and EA. EA told me it will take the vendor 2-4 weeks to get their deeds off the bank??. Is this the norm?. We are/were hoping to be in before Xmas and were given the impression from the start we would be and had a keen vendor, now we are getting stalling suspicions. Or am I over reacting??.
 
Yes, it can take up to two weeks for the deeds to be got from the mortgage lender but if the vendor was in such a hurry they should have instructed their solicitor to do this earlier. However perhaps they didn't know (why should they?). You are keeping to your side of the timescale which should reassure them. It might help if you and the vendors could actually talk to each other rather than through the estate agent - it's not against "the rules"!

Sarah

www.rea.ie
 
Sure I don't even know who the vendors solicitor is, so my chances of getting the vendors phone number off the EA are pretty slim although I would love to have a chat with him so I'm sure of what really is happening!.
 
Call round or put a note through the door asking them to call you about measuring up for curtains or something. I had some great chats with the sellers of the last house I bought and found out all about the neighbours!

Sarah

www.rea.ie
 
Thanks Sarah, excellent idea. I'll give that a go, dh's best mate lives in the same estate we are buying in so I'll ask him would he drop a note in for us say on Friday or something...;)
 
go for a second viewing and be more critical if you feel the vendor knows you want it so badly. we did this H2B loved the house and i didn't mind one way or the other - ea rang Hubbie after that not me and when i suggested a second viewing couldn't fit us in...blah blah. It really was unnerving how they operate.
 
I know, they really push you at the start and then lay off once you have done your part. Sure apparantly we only got the house coz we were first on the list that saw it and made the first offer but if we did not have the valuation done by today it was going to the next person in the que and now this!?!. The mind boggles!!.
 
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Sorry me again..another question. The house we bought was built in 2003 so it's still covered under Homebond so we were told a survey is not that necessary. Is this right??. I am having hassle getting a surveyor to do it anyway by my husband was told that as it's only 3 years old there is no real need for us to have a survey done on it. Advice would be really appreciated. If I am to get a survey done can anyone recommend a surveyor that will go to Arklow???.
 
Get a survey done. It's well worth it.

You don't necessarily have to get a surveyor. Do you know anyone in the building trade or any engineer?
 
We have a surveyor going in today, it's €400 well spent and I would be afraid (knowing our luck-believe me!!) that we would have problems.
 
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