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House buying process in NI?
leftieM
Posts: 2,181 Forumite
How does it work here exactly (the legal part specifically). I was told that the buyers will be signing soon and then we will sign. The EA was vague about how much this means legally. I gather things are different here - there is no deposit paid (I think!), the exchange part isn't necessarily binding etc. But I just don't know!
Oh the stress of it all. If anyone needs to lose weight, try buying a house. It'll drop off!!!
Oh the stress of it all. If anyone needs to lose weight, try buying a house. It'll drop off!!!
Stercus accidit
0
Comments
-
Allow me to share my experience
Trying to buy a small 3 bed semi in antrim
Offer of £161000 accepted in september
mortgage Set up fee £450
survey fee £480
Also Got solicitor to sort out title deeds etc.
2 months later , Seller decides to take house off the market
So
I lose my survey fee + solicitor fees for all work he has done so far
approx £1000
I have also been off house hunting which is a loss in itself
Ths entire time, the estate agents are safely out of harms way?
The house buying process in Northern Ireland is a disgrace
Wide open to extortion
First time buyers are the whipping boys
I hope you have more luck0 -
The property market in NI at the moment is scary. Lisburn experienced a 44% increase in the past 12 months. Houses are selling for approx 30% more than asking price within days!
The government declared NI a green belt for 25 years, so only proposed develpments are going ahead, so it is totally bonkers.
Good Luck.0 -
I posted over on the NI forum as I didn't get any answers here until today but thanks for posting! I notice a lot of houses being put up for sale and then being taken off the market (although maybe before the sale is agreed). I think people get so excited about the price of their house they try to sell it before they've researched the market - then they realise they can't afford to buy anywhere.
It stinks. We're all vulnerable to losing fees etc if sales fall through though, not just FTBers.
I hope prices stabilise or fall gently. Only investors are winning in the current climate. It's hard to know why prices are rising so fast. It's hard to believe it will continue.Stercus accidit0
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