Here’s the problem! We would really like to buy a rural, standalone house in Leitrim, ie – no neighbors on top of us, no unfinished, badly built, rotting ghost estates, some privacy and some space. Nothing too extravagant, just private. We should shortly be cash buyers so no banks involved, messing up deals. We won’t have a ton of cash but enough, or so I thought, to get a deal somewhere in Ireland’s smallest county population wise. Many have told us we’re rare in that we will have money and with cash in pocket, we can call some shots. Not true so far!
Having spent the last month or 2 trawling Daft.ie, MyHome.ie etc.. and going to see houses, talking to local estate agents etc.. it seems those kind of houses are in no rush to be sold. Sellers are either in no hurry to sell, don’t need the money or if they do need the money, they need a certain amount to cover mortgages etc. What doesn’t make sense to me is a seller putting an unoccupied house up for sale and leaving it there indefinitely, empty and falling apart, waiting on a sale that will never happen at the listed price or anywhere near it.
As far as I can see they have 2 options, take the house off the market, rent it out, continue to pay the mortgage and leave the house to their kids, or, take a good cash offer, cut losses, cut the mortgage right down and be done with the hassle of trying to sell and maintain a house?? A case in point was a cute cottage we went to see a couple of weeks back which we really liked but pulled out of because it had developed bad mold problems through lack of use, having stood empty for a year or 2.
It may be a buyer’s market if you want a grotty ghost house, but other sellers seem content to sit and wait. And that doesn’t help anyone..
Leon.
Reverb Studios Design 