• BE PREPARED To avoid delays ensure all title documentation is with your solicitor when placing the property on the market. If you have a mortgage on the property the title documents will be with the bank and request will have to be sent to them for the documents.
You will need to sign an Authority to take up your title documents from the bank you will also need to furnish :-
• BER Certificate & Report;
• Evidence of payment of Local Property Tax;
• Evidence of payment of Household Charge;
• Evidence of payment of NPPR Charge;
• Evidence of payment of Water Charges.
• If you have a septic tank you will need to furnish proof of registration;
• GET YOUR TIMING RIGHT If you are selling a property without purchasing another the timing should be straight forward. However, if completing a sale depends on the purchase of another property and visa versa take legal advice about the timing and special conditions that will be needed in the contracts on both sides. Obviously, a problem or delay with one transaction has a knock-on effect on the other which can frequently be a source of stress and anxiety for families on the move.
• BUDGET It is crucial to ensure that the sale price is enough to repay your mortgage and cover any fees and outlays you incur. The main outlays are Auctioneers Fees and Legal Fees. If you are in a situation where you are negative equity you may need to get the consent of the bank for the deductions of any outlays and fees you incur. In addition to the Legal Fee you should allow approximately €200 in outlay.
• CLEAN UP It is hard to sell a property that looks unloved and tired. Clean up the property inside and out and ensure the garden is tidy at all times.
• AND FINALLY FIND THE RIGHT SOLICITOR It is necessary to engage a Solicitor when selling a property and while all Solicitors are capable of selling property it is very important that you are happy with your choice of Solicitor and feel that you are in good hands. A good Solicitor will keep you informed at all times, and let you know of any delays that may occur along the way. If you feel relaxed and are able to ask questions you won’t find the process as stressful
TIPS WHEN PURCHASING:-
• FUNDS It is important to know how much you have to spend so meet with your bank before viewing any property and know your limit. Rule with your head and not your heart.
• WHEN MAKING YOUR OFFER When you make an offer and place a booking deposit it is fully refundable until such time as unconditional contracts are signed by all parties.
• BUDGET When calculating your budget ensure you include the fees and outlays you will incur. When purchasing a property you will need to pay Stamp Duty. Stamp Duty is 1% for residential and 2% non-residential. You will also have Land Registration fees of approximately €800 depending on the cost of the property.
• BE PRO-ACTIVE When your offer has been accepted immediately forward all the details to your bank. They can then issue the loan offer and put in place all non-legal matters such as life cover and house insurance. If these matters are sorted at the start it will avoid any delays when the time comes to complete.
• LAST BUT NOT LEAST Ensure you have a good Solicitor that you are happy with and at ease with who will ensure the whole process runs smoothly and makes the purchase of your new home a memorable experience.