Gort Mhuire, Main Street, Saggart, Co. Dublin

Buying & Selling Property

Selling Property

For the most competitive quote on fees around contact us directly by phone or email.

SELLING A PROPERTY

When selling a property it is your Solicitors job to take up the title deeds to your property from the mortgage company that holds them. On receipt of the title deeds your Solicitor will prepare contracts for sale and provide the purchasers Solicitor with copy’s of any of the title deeds necessary for your Solicitor to prove your ownership and for them to investigate fully the history and ownership of the property and related matters.

The Purchasers Solicitor will examine the title and return the contracts signed by the purchasers together with their requisitions and objections on title (questions relating to the property) together with their contract deposit (10% of the purchase price less the money given to the auctioneer).

You will then be asked to sign contracts and your Solicitor will return them to the purchasers Solicitor. At this point you will have a binding contract for sale and not before. Once contracts are exchanged between solicitors – there is no going back unless by mutual agreement between the parties.

You can ensure that the transaction referred to above runs smoothly by preparing in the following manner:

Advise your Solicitor that you are going to sell your property. This will allow him/her to take up the title deeds from your mortgage institution and be in a position to furnish contracts to the eventual purchaser immediately after that sale has been agreed. It takes approximately two weeks for your bank to release title deeds.
.Attend with your Solicitor and answer some preliminary questions which will assist him/her in the preparation of the contracts and in the preparation of the answers to the Objections and Requisitions on title that will be raised later
If you have had your property altered in any way (extensions or otherwise), let your Solicitor know and where planning permission was acquired, furnish him/her with copy’s of the planning permission and other related documents.
You should provide your solicitor with an up to date receipt for the payment of local property tax (LPT). This can be obtained from a Revenue online service. If you owned your property throughout the years 2009 to 2013 you should also provide your solicitor with a certificate of discharge or exemption from NPPR (Non Principal Private Residence charge) and household charge. These can be obtained from your local authority for example South Dublin County Council or Dublin City Council, etc. If you are uncertain how to go about this you can simple ask our office and we will be able to assist you with it. These are easily obtained and they are necessary to have at the time of issuing contracts or at closing for the solicitor who will be buying the property. Again, if you have any doubts about this matter simply discuss it with our office and we would be happy to assist you.

CHOOSING AN AUCTIONEER

Our office has arranged a reduced fee with local auctioneers which can give our clients a saving of €1,000’s when selling their property. Talk to us before phoning around.

If you have any further queries in relation to purchasing property please e-mail us at admin@flanagansolicitors.ie.

Purchasing Property

For the most competitive quote on fees around contact us directly by phone or email. Talk to your Solicitor before organising your Mortgage & you may reduce your costs substantially.

PURCHASING A PROPERTY

Purchasing a property, whether as a first time borrower or otherwise involves dealing with your Solicitor from early on in the transaction to the completion date. We advise all of our clients to contact their Solicitor once they have decided to purchase and prior even to looking for a home. A quick word with your Solicitor will dispel many of the myths and misconceptions you may have about your proposed transaction. Your Solicitor can also prepare you for dealing with an auction situation or a tendering process.

After you have made your purchase the transaction will proceed as follows:

The Solicitor for the Vendor(s) / seller(s) will prepare contracts for sale and forward them in duplicate to your Solicitors office together with copy title documentation (documents proving ownership or the right to sell and detailing the history of the property in relation to ownership, taxation, planning and other matters).

Your financial institution, will issue a loan “pack” containing mortgage documentation to your Solicitor. This will contain details of your loan together with any conditions attached thereto.

It is your Solicitors job to ensure that you purchase good / clean title and that the mortgage is registered against the property in favour of your bank. After completing the purchase your solicitor will register the property in your name together with the mortgage, prepare a certificate of title for your bank and return the deeds to the bank to hold until such time as the mortgage is fully discharged.

On receipt of Contracts you will be required to sign two copy’s and to pay 10% of the purchase price (less the amount given to the auctioneer) through our office, to the Vendors solicitor. Both contracts are returned to the Vendors and they will sign and return one copy to your Solicitor. At this point you will have a binding contract for sale subject only to the vendors replying to any pre-contract queries raised by your Solicitor. It is important to note that until contracts have been signed by both parties and exchanged between Solicitors, there will not be a binding contract for sale or purchase.

Some matters for you to consider at this time are as follows:

- You should have the property examined / surveyed by a qualified person such as an architect to ensure that the property is free from any structural or other defects prior to signing contracts. Once contracts are signed it is too late to raise any issues in this regard. In the case of a new property, you should have the property snagged by a qualified person on completion. Your Solicitor can recommend someone to you if you do not have someone in mind.
- Please note that your bank will not issue a loan cheque until such time as you have you life and building insurance in place. If you are purchasing both of these with the your mortgage provider then this will not be an issue. In the event that you are using another agent it will be important to ensure that the policy’s are with the Financial Institution as soon as possible.

The length of time a purchase transaction takes depends on the circumstances of each individual case. If you are interested in a quick purchase then you should look at some of the following factors:

Is the Vendor living in the property?
Does the Vendor have another property purchased (or chosen a property to purchase)?
Has the auctioneer got instructions in relation to a closing date?

You can also assist by:

Having your own loan approval in place prior to purchasing.
Choosing your Solicitor prior to purchasing and having their details to hand when you visit an auctioneer.

If you contact our office we would be happy to send you correspondence containing full details of how a transaction commences from start to finish and to include in it a list of fees and costs payable to third parties which will accurately set out for you exactly how much you will spend on the purchase and completing the transaction. It will detail the cost of registering the property in the Property Registration Authority, stamp duty payable to the Revenue Commissioners and any other associated costs. This will help you budget properly for your purchase as we know that at this time, every euro counts!

If you have any further queries in relation to purchasing property please e-mail us at admin@flanagansolicitors.ie.

Remortgaging Property

For the most competitive quote on fees around contact us directly by phone or email. Talk to your Solicitor before organising your Mortgage & you may reduce your costs substantially.

RE-MORTGAGING A PROPERTY

When re-mortgaging your property your Solicitor is required to take up the title deeds to your property from your financial institution, discharge your current mortgage (in most circumstances) from the proceeds of the new mortgage and remove the old mortgage from the Title (ownership documents). Any record of your old mortgage is then removed from the Land Registry or the Registry of Deeds where applicable.

Your solicitor must then Certify Title for your new financial institution.This means that a report is prepared and submitted to the Mortgage Lender which confirms that the Title is good and marketable (may be sold without difficulty if necessary in order to repay the money loaned). The new mortgage is then registered in the Land Registry / Registry of Deeds by your Solicitor and the Title Deeds are returned to your new Mortgage provider to be retained until you clear the mortgage or change your mortgage again.

Our office deals with each of the different mortgage providers on a daily basis and therefore your Solicitor is in the best position to advise you on all matter’s pertaining to the Re-Mortgage of your property. Please contact your Solicitor first when you decide to re-mortgage your property as this will save you money in the end. We will be pleased to answer any questions you may have prior to applying for you mortgage and to discuss the many types of mortgages available to you on the market today

If you have any further queries in relation to purchasing property please e-mail us at admin@flanagansolicitors.ie.