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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Oct 28, 2016 4:46 pm 
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Speculator

Joined: Apr 27, 2014
Posts: 431
Wait for Trough wrote:
Things have changed a little for us now.

We have gone to about 20 viewings - and have come up with a solution where we buy - move in and then sell our home after.

One question on this.

For a short duration we will have two homes (not renting it out or anything) - is there a tax implication when we sell our first and current home ?


You have a year from when you move to your new home to sell the old one. Thereafter they will be a CGT liability on the same of the of home.


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 07, 2017 11:14 am 
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Private Tenant

Joined: Sep 17, 2010
Posts: 46
Things have moved on for us in this long / painful journey to find a house.

We ave a bid in - on a doer upper - what she wanted :lol:

One tip -I'm looking for.

As we will be selling our current house - do you have to use the original solicitor to sell ?
And should we use the one solicitor for our purchase and subsequent sale ?

Basically are you stuck to the one solicitor when selling your home - to original ?


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 12:17 pm 
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Private Tenant

Joined: Sep 17, 2010
Posts: 46
Just looking for a bit of advice

Bidding on a house at present (now 50K over asking)

3 parties biding and other two bidding in 5K jumps.

I do want to bid - but should step back at this point ?


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 12:25 pm 
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Neo Landlord

Joined: May 22, 2013
Posts: 210
Wait for Trough wrote:
Just looking for a bit of advice

Bidding on a house at present (now 50K over asking)

3 parties biding and other two bidding in 5K jumps.

I do want to bid - but should step back at this point ?


Work out the max price you think the house is worth and don't go over that.


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 12:27 pm 
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Private Tenant

Joined: Sep 17, 2010
Posts: 46
TRS30 wrote:
Wait for Trough wrote:
Just looking for a bit of advice

Bidding on a house at present (now 50K over asking)

3 parties biding and other two bidding in 5K jumps.

I do want to bid - but should step back at this point ?


Work out the max price you think the house is worth and don't go over that.


In fairness - that will not get you a house at present.


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 12:34 pm 
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Neo Landlord

Joined: May 22, 2013
Posts: 210
Wait for Trough wrote:
TRS30 wrote:
Wait for Trough wrote:
Just looking for a bit of advice

Bidding on a house at present (now 50K over asking)

3 parties biding and other two bidding in 5K jumps.

I do want to bid - but should step back at this point ?


Work out the max price you think the house is worth and don't go over that.


In fairness - that will not get you a house at present.


I don't follow! Why would you pay more for a house then you think it is worth?


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 1:40 pm 
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Joined: Jan 4, 2013
Posts: 17046
Location: To the right of the decimal place
TRS30 is right -- figure out how much it's worth (to you) and bid rapidly up to that number. Then stop. The "to you" part is important. We bought in 2015 and paid more than "market value" because the house had certain characteristics that made it valuable to us, but probably not so much to others.

And forget about what the asking price was; that's entirely irrelevant.

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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 2:02 pm 
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Real Estate Developer

Joined: Oct 7, 2014
Posts: 995
TRS30 wrote:
Wait for Trough wrote:
TRS30 wrote:
Wait for Trough wrote:
Just looking for a bit of advice

Bidding on a house at present (now 50K over asking)

3 parties biding and other two bidding in 5K jumps.

I do want to bid - but should step back at this point ?


Work out the max price you think the house is worth and don't go over that.


In fairness - that will not get you a house at present.


I don't follow! Why would you pay more for a house then you think it is worth?


If you think every house is over priced, but you need somewhere to live, and can't/won't rent for a variety of legitimate reasons?


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 2:20 pm 
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Nationalised
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Joined: Jan 4, 2013
Posts: 17046
Location: To the right of the decimal place
But then it's not overpriced for your needs.

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— Try, fail, understand, win. —


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 2:50 pm 
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Neo Landlord

Joined: May 22, 2013
Posts: 210
muirgheasa wrote:

If you think every house is over priced, but you need somewhere to live, and can't/won't rent for a variety of legitimate reasons?


'Over priced' is a relative term. Compared to what?

I'm in the process of buying a house, did I pay more than I would have liked, yes: however when I looked at the bigger picture, other houses in the area, my short, medium and long term needs, the price I paid was worth it to me. As Mantissa said, its a personal thing, one mans value is another mans rip off.


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 3:59 pm 
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Private Tenant

Joined: Sep 17, 2010
Posts: 46
TRS30 wrote:
muirgheasa wrote:

If you think every house is over priced, but you need somewhere to live, and can't/won't rent for a variety of legitimate reasons?


'Over priced' is a relative term. Compared to what?

I'm in the process of buying a house, did I pay more than I would have liked, yes: however when I looked at the bigger picture, other houses in the area, my short, medium and long term needs, the price I paid was worth it to me. As Mantissa said, its a personal thing, one mans value is another mans rip off.


A normal supply situation.

I think it is accepted that we have a mini bubble just now - so if you want a house right now - you have to be willing to pay over the price of what it is worth.


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 4:02 pm 
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Nationalised
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Joined: Jan 4, 2013
Posts: 17046
Location: To the right of the decimal place
No, you will pay exactly what it's worth right now.

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— Try, fail, understand, win. —


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 4:17 pm 
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Private Tenant

Joined: Sep 17, 2010
Posts: 46
Mantissa wrote:
No, you will pay exactly what it's worth right now.


Very hard to define that.

It is worth what someone pays for it clearly.

But still can be due to just the wrong timing with two bidders at the wrong time. If it is above, way above a very similar property at present.

So that worth is what it is worth to one individual - but not actually what it is worth in the market.

I guess what I'm saying - you can pay way over the market price in an area or on a house . It can be due to a couple of non normal market forces - Like EA, fake bids etc.

Anyway - 5 K jumps at present - mad stuff XX


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Fri Apr 21, 2017 4:52 pm 
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Nationalised
User avatar

Joined: Jan 4, 2013
Posts: 17046
Location: To the right of the decimal place
Stop worrying about the jumps or what it started at. You'll drive yourself nuts. The only thing that matters is the current bid and how it relates to your max.

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— Try, fail, understand, win. —


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 Post subject: Re: Help - Time To Move On. (Help)
PostPosted: Mon Apr 24, 2017 4:04 pm 
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Private Tenant

Joined: Sep 17, 2010
Posts: 46
Any recommendations for a solicitor for buying.

Dublin 3/5

Good record
Decent price.

Also would they do a deal on a buy and sell arrangements - both transactions.

Thanks
Hopefully near the end now BD


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