Complete Home

Information

At some point in your life, you may wish to either buy or sell a home or property. It is not possible in Ireland to fully go through the purchase or sale of a home or property without legal advice and assistance, as this is quite a specialised area of law known as conveyancing. Conveyancing describes the legal work involved in the purchase or sale of land or property (the transfer of rights, interests and liabilities, etc.). It will require the appointment of a solicitor by the parties to the transaction.

The duration of the legal process involved in buying or selling a home or property will largely depend on the individual circumstances pertaining to the transaction. Some vendors (sellers), for example, may prefer a quick sale. A typical conveyance, however, may take anything from 8 to 12 weeks. All practising solicitors must hold a "practice certificate" issued by the Law Society on an annual basis.

The two most popular methods by which properties in Ireland are purchased and sold are:

• Public auction


• Private treaty sales

Public auction

A public auction involves two or more parties competing for the property. Each party makes an offer (bid) and the property is sold to the highest bidder. Notice of the date and time of the auction is usually given by advertisement in a local newspaper or by a sign on the property. A reserve figure is set for the property, usually by the owner or auctioneer. The reserve figure is the value the property must achieve; anything below this and the property will be withdrawn from the market. The reserve figure often reflects the level of interest from buyers for the property. When the reserve price has been reached, the vendor usually sells to the highest bidder. At all times during the auction, however, the vendor has the right to withdraw the property from the market, even if it has achieved the reserve figure. Property auctions are conducted under standard Law Society conditions of sale. These conditions stipulate that unless otherwise stated, all auctions have a reserve price, which is rarely disclosed. On occasions where a reserve price is stated, this means that the highest offer on the day that matches or exceeds the reserve price will secure the property. It is important to remember that in almost all cases, the vendor (seller) reserves the right to sell the property before the auction. There are two representative bodies for professional auctioneers and valuers in Ireland. (See further information under "Where to apply").

In advance of the auction, your solicitor should check the contract for the property (issued by the seller's solicitor) and all title documents that are referred to in that contract. Important issues to consider at this stage are whether there are any restrictions on extending, sub-letting or developing the property; conditions that are attached to the sale; information about service charges and local services; boundaries; rights of way; items included (if any) with the property, etc. When the purchaser's solicitor has satisfied his or her enquiries, the purchaser organises a survey of the property to ensure it is sound.

It is important at this stage to honestly evaluate all costs associated with the purchase of property (i.e., mortgage costs, legal fees, registering deeds, stamp duty, etc.). If you have determined that you can afford to purchase the property taking into account all of these costs, then you are ready to attend the auction.

The successful bidder is the person who makes an offer of at least the reserve price. The successful bidder immediately pays a deposit (10% of the asking price) and signs the contract.

Contracts for sale

[image #2 align=right] This contract is a contract for sale that binds the parties to the completion of the transaction. Should the purchaser withdraw from the sale after this contract has been signed, he or she may lose the deposit he or she has paid. This contract for sale include "building agreements" as most properties these days are sold and developed (built upon) by two arms of the same company. In the past, and rarely currently, one company would sell a buyer land and a different company would build upon it. In such instances, the contract is actually a "contract for sale and building agreement" but in virtually all residential sale cases, a contract is simply known as a contract for sale. The completion date will be set out in the contract and the balance of the agreed purchase price will be due on that date. In the intervening period between the signing of the contract and the completion date, the purchaser's solicitor raises some general queries about the property with the vendor's solicitor. Such enquiries would include:

• Is a Family Home Protection Act declaration required? This is a declaration that specifies whether or not the property is a family home. If it is a family home, further documents are required that confirm that the interest of both spouses is regarded in the deeds, i.e., that a husband is not selling without a wife's knowledge or consent. If it is not a family home, then the sale can proceed without further documentation.


• Is the consent of the Department of Agriculture, Fisheries and Food regarding sub-division of land required under the Land Act 1965? Some properties, mainly rural, may have regulations or inhibitions regarding sub-division. The consent of the Department of Agriculture and Food to the sale of such property or part of such property may be required under the Land Act 1965.


• Is planning permission in place for any changes that have been made to the property?

When the purchaser's solicitor receives satisfactory replies to "Requisitions on Title", a Deed of Conveyance (or assignment) is drafted by him or her and approved by the vendor's solicitor. Requisitions on Title are a standard set of questions relating to the sale of a property that deal with such things as whether fixtures and fittings are included in the sale. In simple terms, requisitions are a checklist and these are drafted by the Law Society so as to be standardised throughout the legal profession. Once the Deed of Conveyence is approved by the vendor's solicitor, the purchaser's lending institution will be contacted by the purchaser's solicitor to issue the approved loan cheque, the remaining balance of the purchase price is paid to the vendor's solicitor and all documentation, and keys to the premises are handed over to the purchaser's solicitor. It is also imperative that on the date of closing the sale, the purchaser's solicitor has made arrangements for searches to be made against the vendor to ensure that there are no judgements lying against the vendor (i.e., bankruptcy or sheriffs' searches). Furthermore, depending on where the title to the property is held (either in the Land Registry or the Registry of Deeds), an up-to-date copy folio or hand search (a search by hand through the records) should be conducted by the purchaser's solicitor to ensure that there is nothing adverse attaching to the property.

Once a sale is completed, the purchaser's deeds, showing the new ownership details and mortgage details, if relevant, must be registered with either the Registry of Deeds or the Land Registry. Before this can happen, the deeds must be presented to the Revenue Commissioners who will determine how much, if any, stamp duty is due. Stamp duty is due when deeds are presented to the Revenue Commissioners after the closing of a sale. However, the solicitor will calculate how much stamp duty is due and request this from the purchaser prior to the closing of the sale. Stamp duty is calculated as a percentage of the purchase price, between 3 and 9% depending on the value of the property. Some buyers are exempt from stamp duty on transactions up to a certain value. The amount is paid to the Revenue Commissioners who place a stamp on the deeds. Without this stamp, the deeds cannot be registered.

Rates

Registration

Your solicitor will determine the nature of the title to your property. The costs incurred will depend on whether the title is held in the Land Registry or the Registry of Deeds.

Land Registry fees

Registration of mortgage: €125

Registration of Ownership

Other charges

Land Certificate: €25

Certificate of Charge: €6

Copy folio: €25

Registry of Deeds fees

Memorial of Mortgage (a memorial is a summary of the document): €44

Counterpart of Mortgage (a counterpart is an exact copy of the original document): €12

Memorial of Conveyance/Assignment: €44

Counterpart of Memorial of Conveyance/Assignment: €12

PRINT FRIENDLY VERSION

Related Links:
Local Authorities In Your Area
Solicitors In Your Area
Auctioneers In Your Area
Surveyors In Your Area
Related Downloads:
Buying a home in Ireland Printable Version
Back to Homepage

Labels: General

As with all other times of the year, there are a myriad of tasks to be performed in your garden to keep it looking and feeling as healthy as it was when you first laid it.

The gardener's calendar has always been a particularly busy one and in this age of unpredictable weather patterns and, with changes to our climate proving more and more evident, that calendar is becoming fuller.

Spring is that time of year which paves the way for how the rest of the gardener's calendar will unfold and, just like in the autumn months, when there is less growing but just as much work, spring is characteristically busy with the push to help kick start the growing season again.

Mowing

In terms of growing, your grass will begin to grow faster again as the weather turns warmer and sunnier days are evident. In the early part of spring, roll your lawn if it has been lifted by frosts and then mow as you would normally. You should start with the blades high and lower them as the spring goes on so that by the time late spring, early summer rolls around you are mowing weekly and have reverted to a summer cut.

Aeration

As late spring approaches, this is the time to aerate your lawn. Scratch the surface of the lawn with a rake to allow the soil to absorb water and allow it to breathe.

Scarification

Scarifying your lawn should also be done in the later months of spring, this will allow you to drag free those dead blades of grass and also any moss or loose debris that has found its way into your lawn. It is important to do this because as the grass begins to grow again, so does the risk of disease. By scarifying your grass you are helping to reduce the risk of disease and increasing the chances of having a lawn that looks and feels like it did the previous summer.

Overseeding

Again this is very much dependent on the general wear and tear that the lawn has sustained during the autumn and winter months. It is unlikely that there will have been a great deal of activity from a human perspective during these months but considering such things as heavy rainfall and snowfall there may be patches of grass that need to be re-seeded. Overseed in early spring to ensure growth in time for the summer.

Moss Control

Sprinkling lawn sand over infected areas of lawn will kill the moss and once it has died and turned to black you can rake it free without fear of damaging your grass.

Additional Tasks

As well as carrying out the aforementioned tasks to help keep your lawn in tip-top condition it is also advisable to sweep away any worm casts that may be visible on the lawn, this can be done with a sturdy brush. You may also need to recut some of your lawn's edges and this can be done using a half moon edger and a plank of wood to give a smooth straight line.

If you carry out these tasks in the spring then by the time the summer months come around your lawn should resemble the way it did last summer.

PRINT FRIENDLY VERSION

Related Links:

• Garden Centers In Your Area


• Landscapers In Your Area


• The Lawn Experts

Information Provided By The Lawn Experts.
Related Links:
Garden Centers In Your Area
Landscapers In Your Area
The Lawn Experts
Related Downloads:
Spring Care For Your Lawn Printable Version

Labels: Gardening