Offer Accepted-Next Step? Reduce the Offer? Rent? Delay for a few years?

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kopkidda

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Hi,had an offer accepted,what is the next step that we must take?

Booking deposit?--is this refundable if something goes wrong?

Survey?--Who organises this?And do they check heating and plumping etc..?

Solicitor?--How do you choose the best one etc....?
 
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Re: Offer Accepted-Next Step?

Hope you got a very good price for that house. Otherwise take offer back and wait.
 
Re: Offer Accepted-Next Step?

All these dome predictors,have they got an ulterior motive or some agenda.
 
Re: Offer Accepted-Next Step?

kopkidda said:
All these dome predictors,have they got an ulterior motive or some agenda.
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Don't put your head in the sand.

It's very obvious now is a terrible time to buy.

Prices are only going to go down. For how long? I don't know, but it is likely it will be years rather than months.

By all means buy your house and be happy, but it does not make financial sense to buy now.

PS I have no agenda. I'm just stating what seems obvious to me.
 
Re: Offer Accepted-Next Step?

Flax said:
By all means buy your house and be happy, but it does not make financial sense to buy now.

PS I have no agenda. I'm just stating what seems obvious to me.
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And how do you know how much ive got the deal for? :)
 
Re: Offer Accepted-Next Step?

Well, if you post what you paid we will be able to comment whether you got a good deal or not.

I understand you don't want to hear negative talk, but I do think there are bad things happening in our housing market and economy.
 
Re: Offer Accepted-Next Step?

Flax said:
Well, if you post what you paid we will be able to comment whether you got a good deal or not.

I understand you don't want to hear negative talk, but I do think there are bad things happening in our housing market and economy.
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All this down turn was thought about before we put the offer in,we got a good price becaue of this.
 
Re: Offer Accepted-Next Step?

kopkidda said:
And how do you know how much ive got the deal for? :)
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Honestly unless you got 30-40% of the asking price I would not go near it. And even at that in 12 months it wont seem huge. Give it a year, rent, and then buy. Or ur wasting a lot of cash.
 
Re: Offer Accepted-Next Step?

prince2008 said:
Good luck with buying the house - and follow your own instinct. If its right for you now then be happy with your decision.
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Nothing got to do with instinct, just cold logic. Be prepared to loose a wad of cash.
 
Re: Offer Accepted-Next Step?

prince2008 said:
kopkidda,

like you, I am in the middle of buying a house and am completely sick of the negative comments. I've spent the last no of years listening to people telling me I am mad to rent and should buy. As soon as I decide to buy, everyone tells me I am mad!

Truth is, if you've found the house that is right for you, then go ahead and buy - don't listen to other people. The house you want might not be for sale next year, you might not get a mortgage next year. I for one am sick of renting - I don't want to rent for another couple of years until the average house costs approx €20!!!! There is no stability in renting - having to move every 6 months cos the landlord wants to sell - the cost of servicing a mortage to have my own place is worth the stability of putting down roots and having a place of my own.

Basicically, once you pay your deposit to the estate agent, you need to get a solicior - the vendors contracts will be sent to them. You need to arrange a survey and if you got your mortage thru a broker, you need to get them to get the loan offer issued to you and your solicitor. Then you need to have house insurance and life insurance / mortage protection in place before the mortage co will issue your cheque - this may take a while to organise. Then you will be called into the solicitors to sign the contracts..........not sure after that!

Good luck with buying the house - and follow your own instinct. If its right for you now then be happy with your decision.
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Good post,i agree with everything you have sadi,some people on here are negative for the sake of been negative.We are buying a place which is perfect for us both and plan to live in it for a very long time,that will do for me.Good luck with your purchase to.
 
Re: Offer Accepted-Next Step?

television said:
Nothing got to do with instinct, just cold logic. Be prepared to loose a wad of cash.
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12-24 months ago everyone told me I was mad to to paying rent - that I should get on the property ladder before prices rise even higher. - good job I didn't listen to them.

I'm not saying you're not right - but everyone thought they were right before. Nobody has a crystal ball. If it suits someone circumstances now and they are happy they have found the right property and have no plans to sell in the next number of years, well leave them be.

I could easily rent for hte next couple of years - with no stability and the likliehood that the landlord will contact you and give you 4 weeks to vacate the property as they are selling. Sometimes you reach a stage in your life that you want to put down roots and not have to move every 6 months or a year, depending on your landlord decicison.
 
Re: Offer Accepted-Next Step?

It really isn't being negative for the sake of being negative.

From the front page of RTE.ie today:

[URL="http://www.rte.ie/news/2008/0715/economy.html"]Economic recovery 'unlikely' before 2010[/URL]
[URL="http://www.rte.ie/business/2008/0715/retail.html"]May sales slump sharpest since 1987 [/URL]

These all suggest there is a lot more pain to come.

By all means, buy your home, but you are incorrect if you think people are being negative for the sake of it, or that house prices won't continue to fall.

From a purely logical, mathematical point of view, it makes no sense to buy now.
 
Re: Offer Accepted-Next Step?

Honestly unless you got 30-40% of the asking price I would not go near it. And even at that in 12 months it wont seem huge. Give it a year, rent, and then buy. Or ur wasting a lot of cash.
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So a house costing €250,000 today will sell for €150,000 next year jeez it is mad to buy now when you can buy a house for the cost of a site. There should be some sense attached to comments that are only looking at one possible outcome.

Nothing got to do with instinct, just cold logic. Be prepared to loose a wad of cash.
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Again the logic isn't quite making sense.
 
Re: Offer Accepted-Next Step?

But different outlets are being quoted at different times to show the same slant, there is nobody doubting that prices have fallen but to suggest that they are crumbling around us as we speak isn't right either. Alot of vendors and developers still haven't adjusted prices accordingly and when they do they will only be falling into line with those that have already done it. That doesn't equate to constantly falling prices rather, some taking longer than others to drop.


Flax said:
It really isn't being negative for the sake of being negative.

From the front page of RTE.ie today:

[URL="http://www.rte.ie/news/2008/0715/economy.html"]Economic recovery 'unlikely' before 2010[/URL]
[URL="http://www.rte.ie/business/2008/0715/retail.html"]May sales slump sharpest since 1987 [/URL]

These all suggest there is a lot more pain to come.

By all means, buy your home, but you are incorrect if you think people are being negative for the sake of it, or that house prices won't continue to fall.

From a purely logical, mathematical point of view, it makes no sense to buy now.
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Re: Offer Accepted-Next Step?

DerKaiser said:
Flax and television your input is not required. You know nothing of the circimstance of the purchase and if you do know exactly how things will pan out in the housing market get out there and make a killing and stop wasting your time here when you should be making money on falling house prices
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I think we are being kind. We are giving up some of our time to educate the OP that his decision to buy now does not make financial sense.

It's pretty clear he doesn't care (he's only interested in opinions which back up his own), and has no interest in our warnings, so indeed, we are wasting our time.
 
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