>In April of this year, a prospective buyer contacted Sherry FitzGerald asking if the developer would consider selling this house for €500,000 so it would qualify for the Help to Buy scheme, emails seen by The Irish Times show.
>However, when the same buyer contacted the agent again in June inquiring about the next phase of homes there, an offer was made on the show house.
>The agent said the price of the home had been split so that it qualified for HTB.
>“The split is €500,000 for the house and €25,000 for the flooring. You cannot use your mortgage amount for the €25,000, this has to be part of your own funds,
Sounds like they were both trying to get a deal that would mean the htb was in play.
25k is a lot for flooring. I think if the agent went down to 15k, they may have got a deal.
Criminal should pull the scheme its bollox anyway clearly sent prices higher as soon as it was introduced, similar to the HAP.
Would the insurance and bank sign off on a mortgage for a house with no floor?
I’m grateful for the scheme, I used the scheme, but it is a shite scheme. Nobody in Gov ever tries to fix the actual problem in Ireland, they just add a patchwork mess of complicated nonsense
Scumbags of the highest order.
Is the 25k just a bribe basically?
Government intervention in the private market always increases prices.
Seems a lot of money for flooring. We paid 9k for 72m2 wooden floor incl. installation and disposal of old floor, two years ago.
Depends on the floor.
Some are thinking this was a way to get the HTB for the builders/estate agent. It wasn’t.
The house was selling for 525k, but because of the HTB cap at 500k, the buyers wouldn’t have gotten it.
By doing this, the buyers will get the HTB, effectively paying 470k mortgage, 30k HTB, and then remaining 25k cash after the fact.
Funny enough, my estate had a house sold for 510k recently. I would have begged the estate agent to do the same, let me pay the 10k after the fact if it was me buying it. Houses prices went up because of HTB, so makes no sense to exclude it now, since prices blew past the amount.
I believe we are seeing stories around HTB more and more because the GOV are going to increase the cap or simply remove it
an “internal investigation”? Surely this is fraud and the GNECB should be reviewing every HTB application near the threshold from Sherry Fitzgerald
An early sighting of Agentii brassneckii in the wild.
Mind you, I remember these “part of the price under the table” sales; thought they’d been stamped out.
In the history of never has any scheme run by the irish government made things better for first time buyers. All of them have jacked up prices. The only thing which has helped was building council houses.
Slimey fuckers
Agent tries to help ftb and ftb goes to newspaper… You either want a house or….
There needs a be a lot more regulation on the sellers side. There’s too much scope for bad actors and slimy middle men who don’t really contribute a lot. The HTB is a good scheme there’s a lot of regulations on the buyers side and damn all on the sellers side.
17 comments
>In April of this year, a prospective buyer contacted Sherry FitzGerald asking if the developer would consider selling this house for €500,000 so it would qualify for the Help to Buy scheme, emails seen by The Irish Times show.
>However, when the same buyer contacted the agent again in June inquiring about the next phase of homes there, an offer was made on the show house.
>The agent said the price of the home had been split so that it qualified for HTB.
>“The split is €500,000 for the house and €25,000 for the flooring. You cannot use your mortgage amount for the €25,000, this has to be part of your own funds,
Sounds like they were both trying to get a deal that would mean the htb was in play.
25k is a lot for flooring. I think if the agent went down to 15k, they may have got a deal.
Criminal should pull the scheme its bollox anyway clearly sent prices higher as soon as it was introduced, similar to the HAP.
Would the insurance and bank sign off on a mortgage for a house with no floor?
I’m grateful for the scheme, I used the scheme, but it is a shite scheme. Nobody in Gov ever tries to fix the actual problem in Ireland, they just add a patchwork mess of complicated nonsense
Scumbags of the highest order.
Is the 25k just a bribe basically?
Government intervention in the private market always increases prices.
Seems a lot of money for flooring. We paid 9k for 72m2 wooden floor incl. installation and disposal of old floor, two years ago.
Depends on the floor.
Some are thinking this was a way to get the HTB for the builders/estate agent. It wasn’t.
The house was selling for 525k, but because of the HTB cap at 500k, the buyers wouldn’t have gotten it.
By doing this, the buyers will get the HTB, effectively paying 470k mortgage, 30k HTB, and then remaining 25k cash after the fact.
Funny enough, my estate had a house sold for 510k recently. I would have begged the estate agent to do the same, let me pay the 10k after the fact if it was me buying it. Houses prices went up because of HTB, so makes no sense to exclude it now, since prices blew past the amount.
I believe we are seeing stories around HTB more and more because the GOV are going to increase the cap or simply remove it
an “internal investigation”? Surely this is fraud and the GNECB should be reviewing every HTB application near the threshold from Sherry Fitzgerald
An early sighting of Agentii brassneckii in the wild.
Mind you, I remember these “part of the price under the table” sales; thought they’d been stamped out.
https://i.redd.it/oguamp3bv7af1.gif
In the history of never has any scheme run by the irish government made things better for first time buyers. All of them have jacked up prices. The only thing which has helped was building council houses.
Slimey fuckers
Agent tries to help ftb and ftb goes to newspaper… You either want a house or….
There needs a be a lot more regulation on the sellers side. There’s too much scope for bad actors and slimy middle men who don’t really contribute a lot. The HTB is a good scheme there’s a lot of regulations on the buyers side and damn all on the sellers side.
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