STEPS TO BUYING A HOME
Owning your own home is the biggest transaction you will make in your life. Below is a concise list of the steps involved and the key role your solicitor plays in this transaction.
- Select your home & get mortgage approval.
- Pay Booking Deposit to Auctioneer.
- Appoint Solicitor.
- Issue Contracts/Building Agreement.
- Your Solicitor examines title and raises any queries.
- Engineer conducts a structural survey and check boundaries.
- Contracts are signed by both parties.
- Further queries are raised regarding Title.
- Deed of Transfer is signed.
- Mortgage is drawn down and the balance purchase price is paid.
- Keys to the property are handed over.
- Deed of Transfer is stamped and registered in the Land Registry.
- Title Deeds are returned to the lending institution.
Current stamp duty rates on residential property are as follows:
- Up to €1,000,000.00 -1%
- Balance- 2%
Land Registry Fees
This is the system in Ireland where ownership of property is registered. Registration is now compulsorily and below is guide on the fees associated with the Land Registry.
|Purchase Price||Registration Fee|
|€400,001 & above||€800|