Conveyancing Buying and Selling

Purchasing a Property is possibly the largest financial transaction most of us will ever make. Although it is an exciting and exhilarating time, it is a time that can also be exhausting and stressful. It is our aim to ensure the process is as smooth and as enjoyable as much as possible.

Selling a Property can be stressful. You should contact us as soon as you make a decision to sell a property to enable us an opportunity to investigate the title and to prepare the contracts to avoid.

Conveyancing – Frequently Asked Questions

What is conveyancing?

Conveyancing is the legal process involved in buying, selling, leasing or re-mortgaging a property.

How long does it take to buy or sell a property?

Every transaction is unique and the time frame can vary.  The average time ​for a conveyance is approximately 6-8 weeks but in some cases the transaction ​can be finalized much sooner while other processed may take longer.

Will a deposit have to be paid and is it refundable?

If you intend to purchase a property you will have to pay a booking deposit ​to the Estate Agent.  This booking deposit is fully refundable in the event you ​do not proceed with the purchase.  If you do proceed with the purchase a 10% ​deposit (less the amount paid to the Estate Agent) is paid on the signing of ​contracts. This deposit is non-refundable and once you sign the Contracts ​you are bound by law to complete the purchase.

Should I carry out a survey?

Although your Bank will appoint a valuer to inspect the property it is highly ​recommended that you obtain your own independent survey of the property ​otherwise you have no comeback if there is a series defect or issue in the ​property. We strongly recommend a survey is conducted.

Can I pull out of my sale/purchase?

Any party can withdraw from the transaction before the Contracts are signed ​however once Contracts are signed you must proceed with the transaction as you are committed to a binding contract. .  If ​you do not proceed with the transaction you may forfeit your full deposit and ​proceedings may issue against you for breach of Contract.

What kind of delays can occur?

Unfortunately we sometimes encounter delays when finalizing a conveyance ​which can be:

• If there are more than two parties involved in the conveyance and one party is delayed that means the whole transaction can be delayed
• Obtaining Deeds from the Bank/Building Society.
• Obtaining loan approval.
• Issues with cheque issue with your Bank/Building Society.

How long does a loan cheque take to issue?

Once a cheque requisition form is sent to your Bank funds are usually ​transferred to your Solicitors Clients Account within 5 days provided that all ​other documents are in place.  Most transactions are delayed because your ​Bank has not received your life insurance details or your home insurance. ​Funds cannot issue until both the Solicitor and the Purchaser have provided ​all the requested documentation.

When can I move in/out?

Once the transaction is complete you can move on the same day as you will ​receive the keys once your funds are paid over to the Vendors Solicitors. If you are selling you must have vacated the property before the funds are ​paid over to your Solicitor.  The closing date will be specified in the Contract so the Vendor must be out ​by this date. The Purchaser can move in anytime thereafter.

What happens on the closing date?

Once a closing date has been agreed between the parties the purchase money ​will be transferred to the bank account of the Solicitor and ownership of the ​property is officially transferred to the buyer.  Keys will be exchanged and all ​final paperwork will be signed and prepared for registration.

Who is liable for stamp duty?

Anybody who is purchasing a property is liable for Stamp Duty. Stamp duty is 1% on the first ​€1,000,000.00 and chargeable at a rate of 2% on anything over €2,000,000.00. It is essential that Stamp Duty is paid within  44 days of completion of the ​transaction otherwise penalties will be applied.