Buying a property in Ireland doesn’t have to be as challenging a process as it may look.
Instead of feeling overwhelmed during a lengthy affair, gathering the correct information and choosing the right people to help you during the process can mean all the difference between a bumpy ride and smooth sailing.
By the time you finally sign the contract for your new home in Ireland, getting the keys could feel like a long-awaited dream.
When you are buying a property in Ireland, you want to be sure that you have all your bases covered and know what you are going into. Below are key points in the purchasing process of your Irish home and how you can best be prepared for each one.
Your solicitor, also known as a conveyancer, becomes your best friend. They do all the legal work involved in buying or selling property so that you don’t have to.
Conveyancing charges vary between solicitors, so be sure to compare prices and qualifications before deciding which solicitor to hire.
Solicitors are very detailed-oriented, handling the entire legal process, so you don’t have to. The cost will be worth it in the long run.
There are two methods of buying and selling a property— which you decide to go with is up to you and what best works with your situation.
The seller (or auctioneer) sets a reserve figure for the property, which is the value the property must reach at the auction.
If you plan to bid on a property, be sure to do three things before the date of the auction:
When you are successful in your bid, you will pay a deposit and sign the contract for sale.
You must contact the seller or the seller’s agent to agree on a purchase price. The same three steps above are followed here, except the first thing you must do is pay a booking deposit once you agree to buy the property.
Remember that the booking deposit is refundable up until the contract for sale is signed.
A seller doesn’t have to tell you about any property defects or damages. Before you finalize the purchase, you need to check for any damages and potential fix-ups.
You can ask your solicitor for good surveyors in the area or you can find one through the SCSI. A surveyor can find issues you might not have seen when you viewed the house previously. For example, if the surveyor finds mold in the house, you can decide if that’s an issue you can fix or not.
Sometimes a surveyor is not enough. A local builder can assess if there is more work to be done or what state the property is in, even from a first glance.
There are electrical issues either you or the surveyor might not have noticed. For example, an electrician might find that the heat isn’t working, preventing a catastrophe you might have encountered in the middle of winter.
As you close on the house, there are several fees you will encounter, so make sure to include these in your budget when you search for a property in Ireland. The most common are:
Remember, spend time choosing a house; never rush the process so that you can make sure to purchase the right property.
It is good to keep in mind that until the seller has signed the contract, they can still change their mind. Always be aware of this during the purchasing process of your new home.
Last but not least, be careful that you don’t let yourself get overwhelmed with fees and costs— search for the loopholes and continuously be evaluating what you can afford and what you need.
Lynn is a student at Bethel University who studies English and Business. She doesn’t have a plan after graduation except to never write an academic paper again. In her free time, she cruises around on her longboard and avoids eating mushrooms at all costs.