Doyles Solicitors have been helping clients to successfully navigate the sometimes complex process of buying and selling property since 1952.
Our experienced team excels at keeping clients updated through clear communication, ensuring that all of the important details are addressed effectively and at managing the legal elements of the sale in the most efficient way possible.
We have put together a brief guide below to selling your property – if we can help you in any way, please do call us on 053 91 23077.
Why do I need a Solicitor to Sell my Home?
A solicitor’s experience will be invaluable in the process of selling your home. Your solicitor will be able to check that your title deeds are in order, ensure that the contracts of sale are correct and advise on any further documentation that may be required.
If you have a mortgage, your solicitor must take up your title deeds from the financial institution. Title deeds will be released on trust by the bank until the sale goes through and the mortgage redeemed. If you don’t have a mortgage give all your title deed to your solicitor at the first opportunity. Once the solicitor has the title deeds he/she will investigate the title and see if they need to apply for any documents in order to complete the sale.
How Do I Choose my Solicitor?
Ask friends, family members and colleagues – a personal recommendation is very useful, but make sure that the recommendation is relevant to the service that you are looking for (i.e. property, in this case).
Check your solicitor’s track record – how long have they been in business?
The Law Society of Ireland (lawsociety.ie) is a good resource to find out what your solicitor’s qualifications are and when they were attained. It will also tell you if there have been any cases of professional misconduct against them.
What Are Title Documents?
These are the deeds, basically paperwork, that prove you are the owner of the property. These are usually kept at your mortgage bank. Your solicitor needs to locate these documents and check them to ensure there is nothing in them that will cause a problem or delay in the sale of your property. This check includes reviewing the planning documents to ensure they are complete.
What is included in the Sale?
It is important for you to go through all of the elements of your property and decide what is being included in the sale and to specify that clearly to the Estate Agent or the Auctioneer.
Generally, fixtures and fittings would be expected to be included unless you advise otherwise.
Preparing the Contract for Sale
Once you have accepted an offer from a buyer, your solicitor will draw up contracts for the sale of your property to send to the purchaser’s solicitor along with a copy of the Title Documents. The contract will include a lot of details such as the closing date, what contents are included / excluded and issues there may be concerning planning or boundaries.
The buyer now needs to pay a deposit and, on receipt, the property is now considered “Sale Agreed”.
Your solicitor will deal with queries from the buyer about the contract.
Signing of Contracts
When the buyer has signed the contract, their solicitor will send the contract to your solicitor. At this stage, the buyer is generally expected to pay a “contract deposit” of approx. 10% of the sale price
When you have signed the contract, it is returned to the buyer’s solicitor and you are now legally bound to sell the house and the purchaser is legally obliged to buy the property.
The Purchase Deed is drafted by the buyer’s solicitor and sent to your solicitor along with their closing requirements. Your solicitor approves the draft deed and prepares the closing papers.
The Closing of the Sale
The transfer deed and any other necessary documentation is signed by you at your solicitor’s office. Your solicitor will agree the closing date with the buyer’s solicitor when you will hand over the title deeds and the keys to the property and the buyer pays the balance of the sale price owed.
Redemption of Mortgage
If you have a Mortgage, your solicitor is obliged to pay it off from the sale proceeds and the balance of the sale proceeds is transferred to your account after your solicitor has deducted the agreed fees and outlay.