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Q: Irish Property ( No Answer,   2 Comments )
Question  
Subject: Irish Property
Category: Miscellaneous
Asked by: frandman-ga
List Price: $5.00
Posted: 22 Apr 2006 08:29 PDT
Expires: 22 May 2006 08:29 PDT
Question ID: 721710
I would like to find out about the first time buyers property market in Ireland
Answer  
There is no answer at this time.

Comments  
Subject: Re: Irish Property
From: myoarin-ga on 22 Apr 2006 14:40 PDT
 
As elsewhere, I expect that in Ireland there is only one real estate
market, it being immaterial to sellers whether the buyer is a
first-timer or someone who already owns or has owned property.
Subject: Re: Irish Property
From: frde-ga on 23 Apr 2006 04:16 PDT
 
In the UK there is a bit of a difference

Some developers will 'buy' your old property from you

Others will offer deals like furniture that would not appeal to
existing property owners.

Due to rather poor laws, in Engand and Wales, buying or selling
property is quite hazardous - nothing is guaranteed before contracts
are 'exchanged'.
- you can think you have an agreed deal, and it can fall through up to
about four weeks before your moving date.

As I discovered to my horror, even paying a hefty deposit has
absolutely no legal standing. When you have a chain, it is not
uncommon for a buyer to demand a price reduction, or a seller to
demand a higher price - or sell to someone else.

There is actually quite a gap in the market for someone to develop an
'Option' product, where a legally enforceable Option is bought/sold -
and the company behind it sends in the heavies should someone renege
- a sort of synthetic version of Scottish Law.

For a Seller in the UK, especially a developer, 'No Chain' is very interesting.

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