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Property

Property Solicitor Cork

Buying and Selling Property – A Guide to Buying Your First Home:

As property solicitors (conveyancers) we can assist you with all legalities when buying and selling property.

What does a Property Solicitor do?

From the process below, you will note that our role as property Solicitors involves dealing with all contractual information and deeds.

We have prepared information on buying your first home. If you decide to purchase your property with us, this is the purchasing/conveyancing process in detail.

TO SPEED UP YOUR HOUSE SALE
Property Solicitor Cork

To begin the process of buying your first home, the purchaser agrees the price with the auctioneer and pays a booking deposit. This is refundable in the event of the purchaser deciding not to proceed with the transaction prior to signing contracts for sale. The purchaser gives his/her solicitor’s details to the auctioneer. The auctioneer sends a copy of the sales advice note to the solicitors for both sides, setting out the terms that have been agreed i.e. price, deposit, closing date, list of contents included in purchase price etc.

All documents are marked Subject to Contract/Contract Denied. This makes it clear that there are no binding contracts yet; usually contracts are not binding until contracts have been executed as well as exchanged by both purchaser and vendor in addition to a full deposit having been paid.

The purchaser’s solicitor reads the Contract and Title documentation and raises pre-contract enquiries in relation to them. The purchaser’s engineer/architect will inspect the property to ensure it is structurally sound, that it complies with planning permission and that the title map reflects what is on the ground.

If the title is in order and conditions of the sale have been agreed between purchaser and vendor, the Contracts for Sale are signed by the purchaser in the presence of their solicitor. The purchaser must provide the necessary funds for the balance of the contract signing deposit, which is 10% of the sale price.

The purchaser’s solicitor returns contracts, along with a cheque or bank draft for the 10% deposit. At this stage, most purchasers’ solicitors also send a standard set of detailed questions about the title of the property (called Requisitions on Title) to the vendor’s solicitor.

The purchaser’s solicitor may also send a draft Purchase Deed for approval by the vendor’s solicitor, unless the property is a new house/apartment in a development. In this instance, the purchase deed is drafted by the vendor’s solicitor.

The vendor signs the contracts for sale, usually at his/her solicitor’s office. The vendor’s solicitor returns one part of the contract to the purchaser’s solicitor. Only now is it a binding Contract (provided that contracts stipulated that binding contracts would not be in place until contracts were exchanged and signed by both parties as well as a full deposit having been paid.

Property Solicitor Cork, buying a house, selling a house6. The Purchaser’s Solicitor requests their client’s loan cheque
If the purchaser is borrowing money to buy the house, his/her solicitor will normally request the Loan Cheque about two weeks before the closing date for the sale. It takes about one week for a cheque/funds to issue provided all formalities are in order, and it can take up to 5 days or a further week for the funds to clear in the solicitor’s client account.

Property Solicitor Cork, buying a house, selling a house

The vendor signs the contracts for sale, usually at his/her solicitor’s office. The vendor’s solicitor returns one part of the contract to the purchaser’s solicitor. Only now is it a binding Contract (provided that contracts stipulated that binding contracts would not be in place until contracts were exchanged and signed by both parties as well as a full deposit having been paid.

If the purchaser is borrowing money to buy the house, his/her solicitor will normally request the Loan Cheque about two weeks before the closing date for the sale. It takes about one week for a cheque/funds to issue provided all formalities are in order, and it can take up to 5 days or a further week for the funds to clear in the solicitor’s client account.

The closing appointment takes place at the vendor’s solicitor’s office. Closing searches are carried out by the purchaser’s solicitor. These are searches against the title, the vendor and the purchaser. If no acts appear on the closing searches, the title documents and keys are exchanged for the closing funds.

For stamp duty purposes, the purchaser’s solicitor must lodge the Purchase Deed for stamping with the Revenue Commissioners within 30 days of closing. The purchaser and vendor’s PPS numbers will be required by Revenue.

Once the Purchase Deed is returned, the deed is submitted for registration. Once the registration of the transfer deed is completed, the Purchaser is the registered owner. Even if there are delays in completing registration, the purchaser can now sell the property if he/she so wishes.

Once the registration is completed, the Purchaser’s Solicitor sends the Title Deeds to the lending institution which provides the mortgage for the house purchase. If the property is mortgage free, the deeds are available for collection at the solicitor’s office or the solicitor can retain them in their fireproof cabinet for safe keeping.

The transaction is now complete.
If you would like to discuss buying property and electing us as property solicitors, then please contact us on 021-425-1843 or via our contact form.

HALPIN & Co. Solicitors | Practical Experience, Trusted Advice – from Solicitors in Cork

To give you confidence, here is what our clients have said about our conveyancing service:

 

‘We employed Sarah to both sell and purchase properties for us in the last two years. Sarah was extremely diligent throughout both processes. Her attention to detail was of the highest quality, guiding us through the myriad of house buying and house selling documentation with the greatest of patience. Her ability to deal with banks and vendors’ Solicitors greatly reduced any stress for us, as was her dedication in closing both deals as rapidly as possible. We highly recommend Sarah and her team.’

Sean Flanagan
Glounthaune, Cork
 

‘Sarah helped us in selling our house in Frankfield, Cork in 2009. Since then Sarah has assisted us with other legal matters and we intend to consult her for any of our future legal needs. We have found Sarah to be helpful, diligent and efficient. She is always upfront about fees and costs which are very fair and reasonable. We would have no hesitation in recommending Sarah to anyone.’

Brendan and Mary O’Connell
 

‘When purchasing my first house, Halpin Solicitors were there as property solicitors to help me every step of the way. If there were difficulties with time delays or agreements – as it was a new build, they were quick to check on things and keep on top of everything. They kept me posted and explained the entire process. I was extremely grateful to have Halpin & Co. Solicitors and have since referred them to friends, who are equally as delighted.

Christina Giliberti
Youghal, Co. Cork
 

Last June I engaged the services of Halpin and Company. Solicitors, 7 South Mall Cork. It was for a property transaction. Firstly, I got a price for the transaction with which I was happy and as the firm had been recommended to me by a friend, an agreement was made to proceed. During the period of time it took to satisfy all the requirements for the sale, I was pleased with the contact maintained, the efficiency of the work and the simplicity of any explanations required. The sale went through very smoothly without any unexpected glitches thanks to their experience in this area. The price quoted was exactly the price billed…no frills…no “sundries”…no nonsense. I would be pleased to recommend Halpin and Company, Solicitors to anyone….and in fact I have. I hope this will be of help to anyone who may be considering engaging their services.

Des Goodwin, Co. Cork

Halpin Solicitors Cork

7 South Mall, Cork City

Tel: 021 425 1843

Email: info@halpinsolicitors.ie

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