Property for sale but not on EA books

Hi folks
I am hoping to buy in th blackrock/ dromiskin co Louth areas! I have been told by a few folk and EA that there is lots of prop for sale by banks but not having for sale signs etc. has anyone come accross this? Thanks

Approach Certus ( the BOSI carcass) and ask them for a list.

Properties are being sold privately by distressed sellers to folks that they know. I know this for sure.

In these cases, the banks tend to insist that these properties are sold at market value. An estate agent is asked to value them.

Sale agreed on an apt that is being sold by the Banks,this property was never om myhome/Daft etc,just a call from an e/a asking would I like to see it before they put it up for sale.I put a reasonable bid on it and was told after 2 days that it was accepted.

I was told these properties not just where I bought but elsewhere also were being drip fed into the market.

Work out why you think this may be the case yourself.

The sale price would be pretty much in line with price register for similar/exact property(note I do not even bother looking at the Quango PPR register due to its sheer uselessness)

Not putting a property on the open market means the market does not get flooded,driving down the price,firing tonnes of stock on an open market will only (in the banks eyes) utterly depress the market.

If I worked for a pillock bank,I would likely do the same.

Softly softly catchee catchee property buying,hamburger eating,surrender monkeys.

Clearly you don’t heed your own insight, it is self indulgent, to ‘have to’ buy property now. Of course it’s your money, unfortunately its this illogical approach that continues to delay the conditions for a full recovery in the Irish economy

It isn’t actually,I was waiting months to see what a property went for locally,in the end I just googled the address and found the price on The myhome register yet no sign of it whatsoever on the Property Services Regulatory Authority website,checked again just to be sure and whaddya know…not a sign of it.

The bottom of the property market in Dublin was around Nov 2011 to May 2012,thats just my take on it anyway.

There is a fairly big shortage of decent property in Dublin & there will be no massive dumping of repod houses/apts by the Banks,demand far out strips supply and will continue to do so for the next few years.Ask anyone looking for a decent house in a half decent area of Dublin and they will confirm that.

Would you ever get a grip of yourself :smiley:

Absolutely, and the total amount of property is steadily declining. An EA told me the other day that about 5% of SCD property vanishes into the Irish Sea each year, while another 3% disappears through transdimensional space-time rifts into the Phantom Zone. This means that exactly 9.7% of SCD property is eliminated every year, while worldwide demand for SCD property grows exponentially year on year.

With the debate on the PPR figures vs. Myhome, would like to see a shadow PPR database interface that would reprice all the properties into The Welcome Guest terms: 3 bed semi-detached house, Ranelagh: 4 heavy pigs, a spanner set (metric), 1 pallet of turf and a q-tip (one end used, one end still fresh).

I’m currently doing a bit of research on a development which is in the hands of receivers Grant Thornton. There are about x 70 houses in the development and not one of them has changed hands on the PPR since Jan 2010 but was told that some have been sold in the last few years. Am I missing something here like the development isn’t finished ( Ghost Estate ) and therefore don’t make it as far as the PPR which I don’t think is the case. How do you go about making further enquiries re price as I’m in the dark about what they previously sold for.

Thanks Mantissa, I agree with your analysis, it was more bar stool chat than anything else. I’m interested in buying in this development, I wonder do I just call up GT and take it from there ?.