Shaunandelly
10/5/2017 14:59 EST
Looking to buy in Ireland within the next 12 months. Getting the impression that buying is shall we say "difficult". Any experiences? Where's the hold up,useless solicitors?
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DebAckley
10/5/2017 20:52 EST
Hi! We tried to buy in Sneem, Co Kerry. The house was a "short sale" as they call it in the States. So we were told that it could take 6-12 months for the bank to clear the title and then have the right to up the price! We are retired (I have dual citizenship) but our pensions, etc were not considered earned income, so we couldn't get a mortgage due to that and mortgages needed to be paid off by age 64...we were 62 at the time. Unless you have cash,...it's crazy ( even the locals told us the banks were crazy!). Many folks are now holding on to their homes for sale, as prices are beginning to rise again. We came back to NY. Miss IE!
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DebAckley
10/5/2017 20:53 EST
Oh...I have to say the real estate agents were wonderful and helpful and we had a great lawyer too..it just didn't work out..
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FlowerFairy
10/5/2017 21:41 EST
Hi, if you read through my posts you will see our slant on buying in Ireland. We were cash buyers and genuinely wanted to retire to Ireland (mainly so we could use it as a base to travel) BUT the rain and the dysfunctional real estate system did us in in the end and we returned to Australia after 16 months (five offers, four building surveys). Having said all of that, each person finds things different and you should not be put off, just keep people's comments at the back of your mind. Good Luck!
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FlowerFairy
10/5/2017 21:46 EST
We found the Estate Agents useless, didn't give a toss! Told us to look for property and then if we found one in their listings, contact them and they would show us through. Here in Oz the Agents would put you in a car and drive you around showing you potential purchases. The Solicitor we were going to use was very helpful but again, the system is different they don't do as much for you as they do in Oz i.e. they will contact the other side if there is a problem with a building survey and negotiate between solicitors. In Ireland we found that one dealt through the Estate Agent and you us remember the are working for the Vendor. The only Estate Agent we found who was excellent was Elaine Spillane of Peninsula Properties based in Kilcrohane, Sheepshead Peninsula but again helpful as she was she was hampered by the Vendors being her clients, having said that she helped us the best she could.
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KevinfromKinsaleviaNYC
10/5/2017 22:02 EST
If you are foreign, best to pay all cash and make sure seller is motivated. Some are not. If you get an accepted offer, make sure listing is removed from market. Closing attorneys will move like molasses. That is how things work. Sellers try to play this game of separating furniture from real esate so make sure you are not buying any furnishings.
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Shaunandelly
10/8/2017 13:27 EST
We are cash buyers,but anticipate gazumping in a rising market. Re furnishings I’m assuming you mean removing them after agreeing them as part of the sale.
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KevinfromKinsaleviaNYC
10/8/2017 16:45 EST
Yes, gazumping is common but you can protect yourself by getting seller to confirm in writing their acceptance of your offer, demanding immediate removal of the listing from Daft, etc. and closing the sale ASAP. Due diligence on property often brings up issues and then you have to decide whether to live with them or not. Asking seller to legalize an extension of a house, e.g, will generally not be treated kindly unless the seller is VERY motivated.
For furniture, I am referring to the practice of including furniture in the sale and then allocating an excessive amount of the purchase price to this personal property. The result is that your tax basis in the property is lower and your potential capital gains tax liability is higher.
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FlowerFairy
10/8/2017 17:16 EST
Yes, BEWARE of the illegal (not approved) extensions. Ireland property is full of these illegal extensions. One house we put an offer in (4 bed 2 bath) turned out the whole top floor extension had not been approved. Vendors had priced the property as a 4 bed 2 bath but in effect it was only 3 bed 1 bath. Our building surveyor also said that if someone was sleeping in the new extension and there was a fire, basically it was illegal. Also the window height from the gutter did not confirm; i.e. if there is a fire one should be able to climb out of the window, hang on to the window ledge with feet on the gutter and hopefully be rescued. Our Building Surveyor said the whole top floor could only be classed as a 'storage area' and no-one should be sleeping up there. Another property we put an offer in the Vendors had put the septic tank in another place which would have needed Council approval (not to mention oil had leaked into their water source and it was contaminated and the plumbing from a toilet was not going into the septic). Also an extra couple of windows had been added without approval. Apparently from what we were told, Council only approves Plans no-one comes out and inspects the building while it is being constructed. Also it is often the case that the Vendors know they have illegal extensions and put in an application (sorry, I cannot remember what it is called) but still put their property on the market; Purchasers should not automatically assume approval will be granted. Building Surveyors who do Building Inspections for prospective Purchasers are now obliged to point out all the non-compliance issues if not, they face prosecution. As I said previously, the Irish Real Estate system is dysfunctional. It is a brave and very patient person who traverses it. Good Luck!
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