We deal with all manner of conveyancing, acting for both purchasers and vendors, and we also have the expertise to deal with other property matters, such as planning, rights of way and boundary issues. Our conveyancing team is also experienced with assisting clients with the banking aspects of such transactions.
Buying a House
- Talk to your Solicitor at an early stage, they can guide you through the process from start to finish.
- If you are hoping to get a mortgage, you should contact your chosen bank and/or a financial advisor as early as possible, there can be many requirements to be met before loan approval will issue.
- Once you have made an offer on a house, and the offer has been accepted, you will be required to pay a booking deposit and the house is now sale agreed.
- The booking deposit, if paid to an Auctioneer, should be fully refundable up to the point of signing Contracts. If you pay a deposit, you should request a receipt and if you provide details of your Solicitor to the Auctioneer, they will send a Sales Advice Notice to your Solicitor. The Sales Advice Notice will contain details of the house, price and booking deposit amount. The Sales Advice Notice should also outline details about the Vendor’s Solicitor so that your Solicitor can contact them to request Contracts.
- Once Contracts are received, your Solicitor will review same, raise pre-contract enquiries and negotiate the conditions of the Contracts.
- At this stage, if you are getting loan approval, this should be sent to your Solicitor together with a loan pack.
- Once Contracts are finalised and pre-contract queries have been dealt with, Contracts will then be signed and the contractual deposit will have to be paid to the Vendor’s Solicitor. A binding Contract is now in place.
- Once the closing date is set, your Solicitor will request drawdown of the loan and the sale can close. The balance of the purchase price is then exchanged for closing documents.
- After closing, your Solicitor will attend to payment of stamp duty relating to the transfer document. The sum required for payment of stamp duty will need to be paid to your Solicitor in advance of closing together with registration fees.
- Once stamp duty has been paid, your solicitor will attend to the registration of the transfer document in the Property Registration Authority.
- Once registration is complete, the title documents will be sent to your Bank if you have obtained a loan or if you have not, they can be sent to you or retained by your Solicitor, whatever you may agree with them.
- To obtain a quote for legal assistance if you are buying a house, contact us at Kemple Gormley Solicitors 093-42715 [email protected] or via the contact us tab on the site.
Selling a House
- You should contact your solicitor if you are considering selling a house to enable them to obtain your title documents and to draft contracts at an early stage;
- You should then decide whether to sell privately (either directly or with the assistance of an auctioneer) or to sell your property at auction;
- You should consider the tax implications of selling a house. If you are selling an investment property that has increased in value since you acquired it, there could be a significant Capital Gains Tax bill attached to the sale. Speak to your solicitor regarding CGT liability and the various reliefs that can be obtained.
- Once a sale is agreed contracts and copy title documents are sent to the proposed purchaser’s solicitor. Queries are raised by the purchaser’s solicitor and replies to by your solicitor. Once satisfied to do so, purchaser will sign the contracts and these are sent to your solicitor along with a 10% (of sale price) contractual deposit (minus any auctioneer’s fees).
- You will then sign the contracts and one contract will be returned to the purchaser’s solicitor. Requisitions are then raised by the purchaser’s solicitor and answered by your solicitor. Closing documents are agreed as is a closing date and on this date, the closing documents are signed, the balance of the sale price agreed is paid by the purchaser and the keys are handed over to the purchaser.
- If the property you intend selling is not an investment property and is in fact your home and you are looking to purchase at the same time, bear in mind that it can be quite difficult to line up a sale and a purchase on the one day. Think practically about your interim accommodation and finance rather than taking the risk that the same closing date will occur for both transactions. Closing dates can change at the last minute! It is better to be prepared for this possibility.
- To obtain a quote for legal assistance if you are selling a house, contact us at Kemple Gormley Solicitors 093 42715 [email protected] or via the contact us tab on the site.
