Acha Bhile, Lahinch Road, Ennis

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Hi folks, this is my first post so bear with me..

I'm a first time buyer currently in the middle of an unbelievably painful house purchase in Acha Bhile, Ennis. These houses were constructed by Cronan Nagle Developers who went into liquidation sometime last year. The houses are currently being sold by AIB. I viewed a house back in May, fell in love with it and paid a booking deposit on May 21st. I was assured by the estate agent that even though the houses were being sold under unusual conditions, there would be no problems and that I could have a full snag list done before signing contracts and that the builders who are currently on site would fix any issues that arise in the snag list (these builders are completing a few unfinished houses in the development - the house I am purchasing is finished).

After paying the deposit, I waited. And waited. And waited some more. And during this time, I phoned the estate agent on numerous occasions because nothing was happening. Finally, last Friday (after 2 1/2 months!) I was told that contracts were being sent out. So today, my solicitor rang me to say that there were a number of clauses in the contract. One being that I have to accept the house 'as is', i.e. I'm not entitled to do a snag list and expect any problems to be fixed by the vendors or the builders currently on site. Another clause stated that they don't have the Premier bond certificate at present and that while they hope to have it in about 2 months, they can't guarantee it. So basically they invite me to progress with the purchase but if they can't come up with the certificate in 2 months the sale won't go ahead!

The reason I wrote this big long spiel is that I'm wondering have any other buyers out there had this same experience in Acha Bhile? I'm ready to pull out of it now but wouldn't mind talking to someone else in the same position. Anyone??

Thanks for reading!!
 
I have no direct experience in that estate or of similar circumstances.

Interesting situation - rather than have developers / builders trying to foist sub-standard housing on unsuspecting purchasers, we now have a bank doing it. At least they are not pretending to hide behind snag-lists that never get completed and insurance you can never collect on. I find it strangely reassuring that at least the EA is consistent with the stereotype.

What is your solicitor's opinion on the bank-oriented purchase contract?
Is it worth spending money on a full structural survey to establish the state of the house?
If there is no structural guarantee on the property, will a financial institution advance a mortgage?
Under the strange circumstances, will the bank consider deeper discounts?
If you decide to go ahead, will the bank agree to have your contract deposit lodged in your solicitor's client account pending resolution of the insurance issue?
 
Hi mathepac, thanks for your response. My solicitor isn't at all happy with the contract as it stands and doesn't recommend that I go ahead with the purchase. I would never accept a contract with these conditions anyway to be honest.

You're right that my lender wouldn't be happy to go ahead with the mortgage with only an 'iffy' Premier structural guarantee. As regards, 'deeper discounts' I, think it would have to be one hell of a discount to convince me that I should still go ahead with this! You mention having a full structural survey done, I don't think I would fork out that kind of money only to be told that any issues/problems in the house will not be fixed by the vendor.

To be honest, the fact that they won't allow me to do a snag list and that they can't produce a Premier certificate says to me that they have absolutely zero confidence in the property themselves.

Thanks for your input, it helped to get a few things clearer in my head!
 
These are superwarm houses, they are overall poorly constructed a new type of system sprayed on plaster in the outer walls rather than the convential plastering which may not stand the test of time. I recently heard that an offer of a purchase of 5 Houses could be realised for €250,000.???

I certainly would not purchase without an engineers report and a Bonded Guarantee of the structure.

rochs
 
I just received a copy of the contract from my solicitor. There's absolutely no way I can go ahead with this. I'm in complete disbelief that they would even put some of these conditions on paper!