If you are buying or selling a house or apartment or switching your mortgage provider, we at O’ Hanrahan Lally D’Alton LLP will provide sound legal advice and guide you through the various stages in a property sale or property purchase in an easily understandable manner.
The property purchase process contains a number of steps which include examining title, negotiating terms of the contract, advising clients on the conditions in the contract prior to the signing of the contract and ultimately the closing of the sale and thereafter registering the client’s title with the Property Registration Authority. After registration the title deeds to the property are sent to the mortgage provider if the client has taken out a mortgage on the property.
If you wish to re-mortgage with a different bank we can advise and assist you. Switching your mortgage provider is relatively straightforward and can result in substantial savings in respect of your mortgage repayments.
Our law firm has been providing conveyancing services to buyers, sellers and re-mortgagors for over 40 years now and we make it our business to explain all steps to our clients and answer any questions posed, therefore, if it is a house sale, house purchase or a re-mortgage or re-finance that you require assistance with we will be able to help you.
If you have seen a property that you believe you would like to purchase or if indeed you wish to sell your existing property please contact us in order to receive a very competitive quote and advice in relation to the proposed transaction.
Residential Conveyancing F.A.Q.
If you have had your bid accepted and are dealing with the Vendor’s Estate Agent you will be asked to pay a booking deposit. This booking deposit is fully refundable if you change your mind or if the Vendor changes their mind at any time prior to the signing of the Contracts. The booking deposit will form part of the Contract deposit which is usually 10% of the purchase price.
The Vendor’s solicitor will then draft the Contracts and send them together with Title Documentation to your own solicitor who will review same, investigate the Title and advise you in relation to the property that you are purchasing. If your solicitor is satisfied that everything is in order you will then be in a position to sign Contracts and at this point the balance of the Contract deposit is paid.
If you are getting a mortgage to assist with the purchase of the property then you should have your written loan offer in place in advance of signing Contracts.
It is normal practice that before Contracts are exchanged a closing date is agreed between the parties. A number of factors can affect the closing date for example the length of time that it takes the Purchaser to drawdown mortgage funds from their bank or indeed the amount of time it could take for the Vendor to clear their property and have alternative accommodation in place.
On some occasions there can be a chain of transactions that are interlinked and this will also determine the agreed closing date.
On the closing date your solicitor will review the closing documents and carry out closing searches. Once that has been done to your solicitor’s satisfaction then the sale will be closed and your keys will be made available. Thereafter your solicitor will pay the Stamp Duty and then lodge the necessary documentation in order to register your title in The Property Registration Authority. Once registration has been completed the Title Deeds are either returned to your bank, if you have taken a mortgage to assist in the purchase of the property, or if there was no mortgage involved the Title Deeds will be available for collection or in the alternative can be stored in our safe for safekeeping.
It is advisable to contact your solicitor as soon as possible, especially if your Title Deeds are held with a bank. It can take a number of weeks for the bank to release the Title Deeds and your solicitor will not be in a position to draft Contracts without receiving the Title Deeds. Once your solicitor has reviewed your Title Deeds they will then draft Contracts and send them to the Purchaser’s solicitors for review. If the Purchaser’s solicitor is satisfied with the documentation furnished they will arrange for the Purchaser to sign the Contracts and pay the contract deposit.
- BER Certificate and Advisory Report
- Evidence of payment of Local Property Tax
- Evidence of payment of Non Principal Private Residence Charge (if applicable)
- Any planning documentation in your possession in respect of any alternations that you have had carried out to the property