Property Buy Sell Re-Mortgage

Property

Buy, sell or re-mortgage any property anywhere in Ireland from €900 plus VAT plus outlays. No hidden charges. No extras! Contact Callan & Co. Solicitors today on 042 932 8053.

“Outlays” refer to expenses which must be paid such as Land Registry application fees, searches, BER Certificates, Bank fees for taking up Title Documents, Etc.

Purchasers of a property must also pay stamp duty. The stamp duty rate for residential property is currently 1% for transactions up to €1,000,000 and 2% for the portion of the sale price above€1,000,000. For example, stamp duty of €2,000 would be payable on the purchase of a €200,000 house. The stamp duty rate for non-residential purchases is currently 2% of the property value.

If you are selling or re-mortgaging a property and the Title to your property is defective, we may charge additional fees for carrying out work necessary to perfect the Title. It is very seldom that an issue with Title arises, however in the unlikely event that an issue does arise, we will discuss the issue with you in advance of carrying out the necessary works.

If you are buying, selling or re-mortgaging any residential or commercial property or if you wish to
discuss any other property related matter, contact Callan & Co. Solicitors today on 042 932 8053.

If you are unsure of the legal process involved in buying or selling a property, please see our step by step guides below:

The step by step guide to buying a property:

  1. Agree a price with the vendor’s auctioneers and inform them that you have appointed Callan & Co. as your solicitors.
  2. The Vendor’s solicitors send the Contract for Sale along with supporting Title Documents to Callan & Co.
  3. Callan & Co. review the Contract for Sale and Title Documents and arrange a consultation with you in order to discuss all issues arising.
  4. Callan & Co. send “pre-contract enquiries” to the vendor’s solicitors. “Pre-contract enquiries” refer to a letter containing a list of questions from the purchaser’s solicitor to the vendor’s solicitor. The purpose of this letter is to seek clarification of any issues arising from the Title Documents.
  5. The vendor’s solicitor send their replies to pre-contract enquiries.
  6. Provided the replies to pre-contract enquiries are in order, Callan & Co. will return the signed Contract for Sale together with any deposit due. At this point, a binding contract is in existence between both parties.
  7. When returning the signed Contract for Sale, Callan & Co. send a precedent Law Society document called “Objections and Requisitions on Title” to the vendor’s solicitors. This is a large document containing 44 queries about the property.
  8. The vendor’s solicitor returns the completed “Objections and Requisitions on Title” to Callan & Co. The completed document now forms part of the Title Documents to the property.
  9. Callan & Co. will agree a closing date with the Vendor’s solicitor.
  10. If you have obtained a mortgage to fund your purchase, your mortgage funds will be drawn down in the days immediately prior to the proposed closing date.
  11. Callan & Co. order searches for the morning of the closing date and forward them to the Vendor’s solicitor via fax or email.
  12. Callan & Co. attend the office of the vendor’s solicitor where we will hand over the purchase monies in exchange for the Title Documents to the property.
  13. As soon as the closing appointment is concluded, the vendor’s solicitor contacts the auctioneer and authorises the release of keys to you. At this point, you may collect the keys to the property as the property is yours.
  14. Following the closing appointment, although the house now belongs to you, you are not yet registered as owner. Callan & Co. must submit an application to the Land Registry in order for their records to be updated. Once an application for registration is submitted, it can take up to 6 weeks for the Land Registry to confirm that the applicant has been registered as the new owner of the property.
  15. When the Land Registry confirm your registration, Callan & Co. will return Title Documents to you. However, if you have a mortgage, all Title Documents must be sent to your bank.

The step by step guide to selling a property:

  1. Instruct your auctioneer that you have appointed Callan & Co. as your solicitors.
  2. Your auctioneer will write to Callan & Co. and inform us which solicitors the purchaser has appointed.
  3. If you have a mortgage, we take up the Title Documents to your property from your lender. Most banks charge a fee of €35 for sending Title Documents.
  4. Callan & Co. arrange a consultation with you and discuss your requirements for the sale.
  5. Following your consultation, Callan & Co. draft the Contract for Sale and send it, along with the supporting Title Documents to the purchaser’s solicitor.
  6. The purchaser’s solicitor sends their pre-contract enquiries.
  7. Callan & Co. send our replies to pre-contract enquiries to the purchaser’s solicitor.
  8. The purchaser’s solicitor returns the signed Contract for Sale to Callan & Co together with the deposit. At this point, a binding contract is in existence between both parties.
  9. When returning the signed Contract for Sale, the purchaser’s solicitor will also send a document called “Objections and Requisitions on Title”. This is a large document containing 44 queries about the property.
  10. Callan & Co. arrange a consultation with you in order to complete the Objections and Requisitions on Title. During this consultation, you will also sign documents that will be required for closing the transaction, for example, the Deed of transfer.
  11. Callan & Co. send the completed Objections and Requisitions on Title to the purchaser’s solicitor. The completed document will now form part of the Title Documents to the property.
  12. Callan & Co. will agree a proposed closing date with the purchaser’s solicitor.
  13. If you have a mortgage on your property, Callan & Co. request updated redemption figures from your lender.
  14. On the morning of the closing appointment, the purchaser’s solicitor sends Callan & Co. their closing searches by fax or email which we will answer and return.
  15. The purchaser’s solicitor attends the offices of Callan & Co. for the closing appointment. They hand over purchase monies in exchange for Title Documents.
  16. At this point, you will no longer own the property and cannot return to it.
  17. Callan & Co. contact your auctioneer and authorise them to release keys to the purchaser.
  18. Once the cheque / bank draft from the purchaser has cleared, we pay off any mortgage you have secured against the property and forward the balance to you. Please note that it takes 5 working days for a cheque to clear and up to 3 working days for a bank draft to clear, depending on the bank.