With rent increasing is now the time to buy a 2nd property from the bank

Wasn’t the new housing minister making noises about expanding the remit of the LDA to provide a more state-oriented solution including increased CPO powers?

I’m not sure. He may well have, but by and large its always just what you say, making noises. The completely disjointed set up of national and then council orientated set up where the paperwork and delays make a real fuck of the whole thing. Never mind the issues on funding then

The AHBs have much more scope to turf out anti social tenants and those that are unwilling to pay rent. They can do it quickly and usually much more quietly. This is definitely a factor. It seems providing housing is too much of a hassle for the LA’s. This solution isn’t cheap but money doesn’t seem to be a problem. The billions being paid in HAP prove this. While not a Sinn Fein fan by any means its an awful pity they didnt go in to coalition as I would like to have seen what O Broin would have done with the portfolio. It really is as simple as building stock (smartly) but for whatever stupid reasons the current lot dont want to do it. Meanwhile any cunt with a shitty hotel or B and b is making millions housing the homeless while the rental market has been massively inflated pricing lots of people not receiving supports out of it.

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I know a lad who developed a few apartments, finished them a decent spec and had planned to privately rent them out but ended up giving them to one of those Housing Charities as he just couldn’t turn down the money he was being offered. It would have made no sense for him to try and keep them private and the hassle that goes with it.

The figures that the housing charities charge the local authorities are a joke. Whatever your mate is getting add a few more quid on for what the charity receives from the govt for it.

the whole issue over throwing money at temporary solutions is a killer. And I dont know what they can do to overcome it other than just stopping the practice. It makes zero sense from a financial perspective, spend more money housing people temporarily than a permanent solution would cost. There is also the issue LA’s have in existing stock and bringing them back to the “market” once handed back. Many of them need serious repair or overhaul, and many more need to be retrofitted to bring back up to meet current regs. Where most people living in an existing house that is on the old regs when built, people moving into a home expect it to be up to modern regs regardless of when it was built or to what regs at that time. I always love seeing people going on about converting some random big building into apartments or housing the homeless, when the cost of retrofitting it or redoing it could cost more than just building a whole new unit.

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Lads, have you ever come across a scenario of someone needing their (current) house going sale agreed in order to go sale agreed on their new (future) house?

Estate agent refused to accept a bid from me last night saying the vendor had to go sale agreed (earlier in the day) with a lower bid than mine or else he would lose out on new house he was bidding for. I smell bullshit.

My gut tells me agent didn’t want me getting this house for their own selfish reasons - even if commission was a little lower for them.

Sounds plausible, they don’t want to agree to sell their house until they know they have one to go to?

Smells like BS we had a bid accepted for our current house before we had even put our own up for sale.

I’d imagine the vendor is dealing with a bank and the bank have said you need to go sale agreed on your own house before we will give you mortgage approval on the new house?

Not too implausible I would have thought?

That is possible I suppose. They’d only leave current house on the basis of getting next house.

Yeah possible. But the house is very near me and I believe the guy is minted (based on where he used to live - a private gate estate down the road which is massive money).

Dealing with agents, I’ll never know for sure.

Basically she called me yesterday saying it is was XX price and vendor wanted to go sale agreed at that - while on same call she started trying to sell me a different house. I cut her off about the other house as I only really wanted this particular house. I said give me a few more hours. She said she’d let vendor know and get back to me. Not long after, she text me saying sorry, house is gone sale agreed. We were raging as we felt she never even gave us a fair chance to stay in the game. She is a known bullshitter too locally.

House was already sale agreed I’d suspect.

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Possible. I’m thinking:

  • Other bidder was cash buyer
  • Same bidder said i’ll offer XX, if you take all other bids off the table.
  • Vendor told agent to make it happen.

You can always counter offer.

I already did last night. Agent came back said sorry, it is done now. Successful bidders have being notified, etc, etc.

Hmmm
There’s cash involved.

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Who the fuck knows really. We are sickened as we tested the water at the weekend ourselves with the agent about whether the vendor would be open to a higher than asking bid pending other bids being taken off the table. She told hold us fire for now as basically don’t blow your load too soon.
Things obvisouly kicked off behind our back very quickly. Them the breaks.

Our condition of drawdown was on our old house being sold but we got the approval well in advance of making any bids or putting our own up for sale. Not something I’d like to go through again too soon in any case.