Nov 19 2017

An Oireachtas bill is focused in dealing with fake property bids in Ireland

Category: investigative reporting,Irelandretosanti @ 4:03 pm

For any people in Ireland who have ever suspected fake bids in the process of buying property, the Fianna Fáil has put forward a piece of legislation to aid in the transparency of the process since November 2017.
The measures have been reported by the following printed media:

  • Sunday Independent on 19 November 2017, page 4
  • The Irish Post on 5 nov.

Here’s Fiana Fail’s own website article.
It is important to mention that even without this legislation, any suspected fraudulent activity can already be reported to the Property Services Regulatory Activity (PSRA) for investigation.
It is sobering to think that a bid might increase by EUR 1000 in an instant, yet a consumer may be looking at months of work to pay each higher bid off, a lot of the time with a bank’s money rather than their own.  In a way, this is also a matter for the banking system to consider.
The bidding process  could also be enhanced by describing whether the bidder is an investor or a genuine individual or family trying to switch to home ownership. It is this group that is the most vulnerable to these practices in the middle of the property rent crisis in large Irish cities.

Very indicative that the bill is needed were the comments made in the Sunday Independent article from the chief executive of the Institute of Professional Auctioneers and Valuers.  He said that this law would make sense only when the market is not going the way of estate agents.

Of course , now that estate agents are doing so well, why would anyone bother to think that there is malfeasance involved.

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Nov 08 2017

When people started not buying Apple products

Category: Buzz global trendsretosanti @ 11:24 pm

When the power of information on any device became infinitely much more worthwhile than the device itself.
When time with family and the power of saving for a rainy day took precedence over awkward, unnecessary, almost yearly upgrades.
When the switch over to the tax haven of Jersey finally convinced investors and users alike that hoarding money rather that user experience and usability had been the priorities all along.

(feel free to cut/paste and add a line of your own)

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Oct 26 2017

Buy your own home without a mortgage in Ireland

Category: Irelandretosanti @ 11:11 pm

This is how it works: After saving, you buy any habitable property at any price in any region of the country. Preferably a small town.

You will not spend 35 years, it will be more like 10  years of savings. This is truly a first step in a ladder rather than one that takes a lifetime to achieve.

After buying, you improve the community around you just like you would a garden.

By doing this, you promote decentralization, reduce traffic in larger cities, allow to develop better public transport into your community and improve the chances in structural improvements such as rural broadband.

The opportunity to buy is closer than you think.  Remember that you will face stiff competition from people with pre-approved mortgage amounts. They are basically betting on someone else’s money.


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