Why does it have to be short notice? put in your offer & start getting your paperwork together. Nothing ventured, nothing gained.Afternoon folks, a small house that I have admired for a number of years has just gone on sale for €150k. I wasn't originally planning to buy, as I had hoped to rent but there has been no affordable rentals available in the area. Although my plan was to rent, this feels like an opportunity to buy that I wasn't anticipating. I would have savings in place to be able to put down a decent deposit of around €50-80k. The house has been vacant for 5 years so it's a bit of a fixer-upper but would possibly be elligible for the €50k vacant property refurbishment grant from the government.
Is it possible to obtain a home loan / mortgage at short notice or am I wasting my own time on this idea?
Would I not already need mortgage approval before making an offer though?Why does it have to be short notice? put in your offer & start getting your paperwork together. Nothing ventured, nothing gained.
No, unless the estate agent insists.Would I not already need mortgage approval before making an offer though?
I'm not so sure.+1 for the family / friend route. Treat it as a joint business investment and have a clear exit route for the other party.
Precisely.Certainly, I was envisaging a loan rather than any other type of investment.
But I suspect that Right Winger means to treat it very formally - draw up a formal loan agreement, with a schedule of loan repayments.
Brendan
Do you have any idea how much these renovation works will cost?This way I'd still have savings left over to use towards the necessary renovation work
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