Whats the process after agreeing to buy a house

  • Thread starter manojdhirde
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manojdhirde

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Hi all,

Just agreed to buy a house in citywest, gave the advance (booking) money to the estate agent. Now whats the process next.

Solicitor is asking for 2100 for the whole process. Is this amount reasonable??? What would be the surveyor charge???

Can anybody guide me about the steps to go after agreeing to purchase a house.

Thanks,

Manoj
 
Is that 2100 including all outlay? They surveyor will charge about 300 (can't remember if this is inc/ex VAT).
 
Organise a solicitor (€1,000 - €2,000 for various bits and pieces)
Get mortgage approval from your bank
Get a surveyor (€350 - €500)
Get Mortgage Protection (Life Cover required)
Get Home insurance (Buildings cover required)
 

Any decent solicitor will send you a letter outlining the steps and go through the special terms of the loan agreement so you know what you have to do to drawdown the money.

Confimr that it is 2100 to inlcude VAT and outlay.

Vendors solicitor sends contracts to your solicitor, your solicitor reviews, checks title, should advise you to get a surveyor (depending on age of house), if he is happy with contract you sign, pay balance of 10% deposit, return contracts to Vendors and set a date for the closing, you make sure all is in place to drawdown loan.

Depending on where the house is eg green spaces beside or close to it, do a search in the planning office, again such advice should come form solicitor.
 
I'm in the process of buying my first house, Solicitors's fee in total is €2100, found a good surveyor through myhome.ie (i've no link to it) for €325. I found it helpful as a first time buyer to go through a broker for mortgage, mortgage protection and home insurance as we were able to sit down and ask him loads of questions. Best thing to do when talking to broker/solicitor is hammer home the point that you're a first time buyer, they're on your side after all!
 
Hi - just paid a booking deposit on a new build last night so delighted - can I check do I need a survey done on this property? Any other advice gratefully received?
 
On a second hand property a detailed structural survey is usually a good idea. On a new build it may not be ncessary as long as you can at least get somebody to do a good snagging "survey". However if in doubt maybe spend the few bob to get a more detailed survey.
 
Thanks Clubman - just heard from the estate agent and although we asked prior to putting down our booking deposit about a maintenance fee she came back today saying there was one but was nt sure how much it was, also there is no homebond on the house but guaranteed by the artitecht - is this ok?
 
highlights said:
Thanks Clubman - just heard from the estate agent and although we asked prior to putting down our booking deposit about a maintenance fee she came back today saying there was one but was nt sure how much it was
Click to expand...
You mean the property is in a privately managed development?
also there is no homebond on the house but guaranteed by the artitecht - is this ok?
Click to expand...
While I would not be depending on Homebond for too much cover in its absence I might be more inclined to go for a detailed structural survey on a new home that was not covered.
 
Because what they cover can be limited (e.g. no external walls/structures as far as I know and certainly in my experience attempting to claim for same!) and the process of claiming can be long drawn out (e.g. they will only intervene once all other avenues with the original developer have been exhausted).
 
What is the next steps?

We're at the stage where the letter came in the post this morning saying that we have Loan Offer, and we are to go to the Solicitors to sign and send back to the lender.

We're in the process of arranging house insurance and mortgage protection.

What is left after this?
 
How long does it normally take ( assuming everything goes smoothly) from sale agreed to closing date? ( is is that like asking how long is a piece of string?)
 
Hi

Can anyone tell me how long it takes between cheque issue from the bank and moving in date
 
The day the cheque from my bank was issued was the day I got the keys. I think the norm is the day your bank issues the cheque your solicitor pays the builder (I'm not totally clear on this) but that once the builder has his money you own the property and are entitled to the keys..... someone else on her may be able to clarify this for you!
 
Hi there,

I would totally recommend a proper survey after the new apartment is completed to ensure that eveything is as it should be. We had a terrible experience with a new apartment unit that transpired to have serious leaks, things that broke fire regulations and on top of all that there was 15 square metres in floorspace missing from the finished unit.

This is really very significant when you think that the price you pay is partly worked out on the floorspace of the unit. We have later found out that other buyers in the same development have had the same problems. One has reportedly lost 25 square metres in floorspace without realising it until after they signed final contracts. So I would be very careful when buying from plans to make sure that the final product is exactly what you are paying for. It is reasonable to expect a new build to be out by a few square metres, but not 15-25 square metres - which in our case was more than one fifth of the apartment!

Luckily we managed to get out of the sale and got our deposit returned, but not until we waited 1 year and 8 months (6 months overdue) for the development to be completed.
 
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