From first time residential buyers to farmers to commercial developers, we have a diverse portfolio of property clients and have a wealth of experience and expertise in advising in all types of property transactions including the following:
- Purchase and sale of sites, houses and apartments.
- Residential and Commercial Leases
- Landlord and Tenant Law
- Commercial Property development
- Management Company Structures and Agreements
- Licensing aspects of commercial property – hotels, pubs, restaurants, off licenses.
- Farm Transfers
- Property litigation
- Planning and environmental issues
- Breach of Contract
- Judicial Review
Frequently asked questions :
1. What are the legal expenses in purchasing and selling property.
Usually stamp duty has to be paid on all purchases with limited exceptions.
In addition there maybe other taxation consequences, i.e. capital gains tax if you are selling a property or gift tax in the event that the property is being sold at an under value or transferred as a gift.
Solicitors charge a professional fee for reviewing the title, stamping and registering the deeds of the property. VAT @ 23%is payable on the professional fee.
In addition set fees are payable to the Property Registration Authority for the registration of the Deed of Transfer which transfers the property into your name and for the registration of a mortgage so that the bank’s interest is noted against the property.
2. How long does it take to purchase a property?
On average the process takes 6 to 8 weeks. However, depending on the circumstances transaction can be completed in shorter period i.e. cash purchase.
3. What steps are required once I have agreed to purchase a property:
A booking deposit is usually paid to the auctioneer selling the property. A sales letter will then be sent to the solicitor acting on your behalf setting out details of the transaction. A copy of this letter is also sent to the solicitor for the person selling the property.
Contracts are usually received within a 2 / 3 week period and at that point you will have to arrange an appointment with your solicitor who will go through the title and all relevant details with you. It is advisable to have a structural survey carried out on the property by a surveyor to confirm that the building is sound. The boundaries of the property should also be checked using the title map.
On signing the contracts a 10% deposit is usually payable less whatever booking deposit has been paid to the auctioneer.
From the day you agree to buy the property you should liaise with your bank (if appropriate) to ensure that all loan documentation issues to your solicitor as quickly as possible. You should also ensure that any conditions relating to the mortgage such as life cover, etc. are dealt with as soon as possible.
4. What steps are required once I have agreed to sell a property:
Contact your solicitor immediately to ensure that the title documents are available to them to enable contracts to issue to the purchaser. You should furnish your solicitor with full details of all alterations, developments, extensions, etc. that have been carried out to the property since you acquired it as they will need such details for the contract.
You should also furnish your solicitor with all requisite receipts for the NPPR/household/management company charges as same will have to be given to the prospective purchaser on completion.
You will also have to obtain a Building Energy Rating (BER) Certificate and Advisory Report from a registered BER assessor who has trained under the National Framework of Qualifications. A building rating certificate indicates on a scale of A-G how energy efficient the property is. A-rated homes are the most energy efficient and G the least efficient. A BER certificate is compulsory for all homes being sold and must be furnished to the purchaser by the vendor
Please contact the office for further information.
Contact: David Scott