We are specialists in property transactions with several years professional experience in property sales, purchases and mortgages for clients, from first time buyers to property developers.

 If you are thinking of selling your property the following information may be helpful.

Title Deeds.

One of the first things you should do when you are thinking of selling your property is contact us to ensure that we can review your title with a view to preparing contracts for sale. This will avoid delays when you reach sale agreed status on your property. If there is a mortgage on your property the title deeds will need to be taken up from the lending institution.

At the same time you will want to place your property on the market.  Some vendors sell privately and others engage an auctioneer to sell the property for them. An auctioneer sells the property either by private treaty or at auction.

Planning Permission.

If you have made any changes to your property whether it was a change of use or an extension or other change then you will need to bring this to our attention. It will be necessary to provide the purchaser with an Engineer’s opinion on compliance with planning permission and building regulations when the contract is being delivered to the purchaser’s Solicitors. Any developments to property since 1st October 1964 either require planning permission or are categorised as an exempt development. Either way an Engineer’s opinion on compliance is required.

Building Energy Rating Certificate.

You will also require a Building Energy Rating certificate (B.E.R.). Since the 1st January 2009 a B.E.R. certificate is a must when selling  a residential or commercial property regardless of the age of the building. The certificate sets out the energy efficiency of the building on a scale that ranges from A to G with A being the most efficient and G being the least efficient. A B.E.R. certificate remains valid for 10 years from the date of issue provided that there have not been any changes to the property since it issued.

You will need to ensure that you have paid your Local Property Tax (and or Household charge where relevant ). This tax is an annual property tax charged on residential property in the State on the basis of the current market value.You are obliged to furnish a receipt in regard to this tax on closing the sale of your property. It may be possible to reach an agreement with the purchaser to apportion the tax from the date of closing the sale. You should discuss this at an early stage with your Solicitor so that a special condition can be inserted into the Contract for Sale.

If your house is a one off house in the countryside serviced with a septic tank you will need to ensure that it is registered and further you will need an Engineer’s Declaration to confirm that the house and its services are all contained within the boundaries of your property and that such boundaries on the ground correspond with the boundaries outlined on the map attached to your title deeds.

SALE AGREED!

When you reach this stage your Auctioneer will prepare a sales advice note, send it to your Solicitor and copy it to the purchaser’s Solicitor. Usually a booking deposit is paid by the purchaser to the Auctioneer at this stage. The sales advice note will confirm the price agreed, any contents included in the sale price, any conditions attaching to the  sale, for example, whether it is subject to loan approval and a satisfactory structural survey. It is important that you read the sales advice note to ensure that the details are correct. At this stage contracts are forwarded to the purchaser’s Solicitor and when the purchaser’s Solicitor is satisfied that the title and planning status and all other matters agreed are in order the purchaser will sign contracts and pay 10% of the purchase price at that stage. You will then call to your Solicitor and sign the contract if you are happy to proceed and it is then returned to the purchaser’s Solicitor and provided it is not subject to any conditions it is then binding.

Requisitions on Title.

These are queries pertaining to matters that go beyond title queries. They are raised by the Purchaser’s Solicitor after contracts are signed. They deal with matters such as roads and services, taxation, rights of way etc.

Closing.

When all conditions are satisfied and all queries are dealt with a closing date is set. This is the date on which title is transferred and keys are handed over in exchange for the purchase price. You should remember to inform your utility providers that you no longer live at the address and you should take an ESB meter reading and have your post redirected as well as telling friends and family of course! At this point if there is a mortgage on the property it is repaid and you will need to make a return to revenue. All property sales are a trigger for Capital Gains tax but you may or may not be exposed to payment of the tax depending on whether you are selling a principal private residence or other property. The current rate of Capital Gains Tax is 33 %.