Buying and Selling a House
Set out below is a brief description of what happens if you are purchasing or selling a property.
If you our the Purchaser.
1.You should have the property that you are intending to buy surveyed.
2. Obtain loan approval in respect of your mortgage.
3.Pay a booking deposit to auctioneer.
4.We will then examine the terms of the Contract of Sale, and the Title Deeds to the property your are buying and any other relevant matters relating to the property.
5.You sign the purchase Contract.
6.You pay the balance of the deposit, less booking deposit of normally 10% of purchase price;
7.Your solicitor will raise further standard queries to clarify the full extent and nature of the property being purchased.
8.Contemporaneously either before or with the execution of the Contract we attend to your lending institution’s legal requirements to ensure that your loan cheque is available on the closing date.
9.You carry out a final inspection/meter readings/prepare a snag list.
10.We complete the purchase.
11.We stamp and register your purchase deed and any mortgage and then forward all Title documents to your lending institution.
If your our the Vendor.
1.We obtain your Title deeds.
2.Your auctioneer confirms details of sale.
3.We issue a Contract to the solicitor for the purchaser.
4.We deal with any queries that may be raised by the purchaser’s solicitors.
5.We complete the sale.
6.We discharge any outstanding mortgages and account for the balance proceeds to you.
Costs and Outlay
Prior to incurring any costs or outlay we will explain what they will be. The two main outlays payable by a purchaser are stamp duty and registration fees.
Rates for Residential Property
A new lower rate of 1% will apply to instruments where the considerable attributable to residential property does not exceed €1,000,000. A higher rate of 2% will apply to the excess of the consideration over €1,000,000. (Subject to change)
Aggregate Consideration Rate of Duty
First €1,000,000 1%
Excess over €1,000,000 2%
Different outlay and costs are payable be the seller of the property.
If you our the Purchaser.
1.You should have the property that you are intending to buy surveyed.
2. Obtain loan approval in respect of your mortgage.
3.Pay a booking deposit to auctioneer.
4.We will then examine the terms of the Contract of Sale, and the Title Deeds to the property your are buying and any other relevant matters relating to the property.
5.You sign the purchase Contract.
6.You pay the balance of the deposit, less booking deposit of normally 10% of purchase price;
7.Your solicitor will raise further standard queries to clarify the full extent and nature of the property being purchased.
8.Contemporaneously either before or with the execution of the Contract we attend to your lending institution’s legal requirements to ensure that your loan cheque is available on the closing date.
9.You carry out a final inspection/meter readings/prepare a snag list.
10.We complete the purchase.
11.We stamp and register your purchase deed and any mortgage and then forward all Title documents to your lending institution.
If your our the Vendor.
1.We obtain your Title deeds.
2.Your auctioneer confirms details of sale.
3.We issue a Contract to the solicitor for the purchaser.
4.We deal with any queries that may be raised by the purchaser’s solicitors.
5.We complete the sale.
6.We discharge any outstanding mortgages and account for the balance proceeds to you.
Costs and Outlay
Prior to incurring any costs or outlay we will explain what they will be. The two main outlays payable by a purchaser are stamp duty and registration fees.
Rates for Residential Property
A new lower rate of 1% will apply to instruments where the considerable attributable to residential property does not exceed €1,000,000. A higher rate of 2% will apply to the excess of the consideration over €1,000,000. (Subject to change)
Aggregate Consideration Rate of Duty
First €1,000,000 1%
Excess over €1,000,000 2%
Different outlay and costs are payable be the seller of the property.