The first thing you need to do is pay a booking deposit to your Estate Agent and that will take the property off the market. You then need to give your Estate Agent your solicitor’s name and arrange for your mortgage pack to be sent to your solicitor.
The next step is to consider getting a survey done of your property. It’s highly advisable to get a thorough inspection done. The surveyor will be able to find any defects and advise as to the solution to those defects. Furthermore, they will look at the map of the property and ensure that the map on landdirect.ie corresponds with the map on the ground around your property. They will also look at the planning aspect of your property and give you guidance as regards compliance with planning matters. When you purchase a secondhand property in Ireland, the principal caveat emptor or buyer beware still applies to the purchase of second-hand properties. This means it is extremely advisable that you get a surveyor to look at that property.
When your solicitor receives the contracts and title documents, which include the planning documents and the map of the property, they will then provide you with a comprehensive letter setting out details as to the property you are purchasing. They may ask you to forward and discuss certain documents with your surveyor. When your solicitor is happy that all documents are in order at that stage you will sign contracts and pay 10% of the value of your property to your solicitor when you sign contracts. When both parties ,that is both the buyer and seller, have signed contracts and there is one contract in each solicitor’s office, is there binding contract in existence. The solicitor will then forward the documents signed by you, the client, to the bank and arrange for mortgage funds to be lodged to their client account.
A closing date will be arranged and your solicitor will send mortgage funds to the vendor’s solicitor and as a result, on the same day, receive the closing documents from the vendor’s solicitor. The sale will normally complete then and you get your keys from the Estate Agent on the day the sale completes.
If you have any questions our specialized Conveyancing/ Buying and Selling Property team is here to help.
You can contact Mc Cormack Solicitors on
Email: info@carolmccormacksolicitors.ie
Phone: 071 9621846
www.carolmccormacksolicitors.ie
Disclaimer:
The contents of these pages are provided as an information guide only. While every effort is made in preparing material for publication no responsibility is accepted by or on behalf of McCormack Solicitors for any errors, omissions or misleading statements on these pages or any site to which these pages connect.
