Buying a House at Auction in Ireland Solicitors

Blanchardstown, Castleknock, Dublin City Centre

Buying a House at Auction in Ireland Solicitors

Buying a house at auction in Ireland is a different process than purchasing a new house. 

The principal of caveat emptoror buyer beware still very much applies to house purchases and to ensure that you know exactly what you are purchasing.

There is no substitute for a thorough survey report of the property to avoid any future unforeseen problems arising that you may have been unaware of, which could lead to planning complications, such as:

  • Heating problems
  • Poor insulation
  • Poor ventilation
  • Illegal extensions
  • Additions to the property.

It is advisable for you to retain your own architect or surveyor to carry out a structural survey of the house, and you should deal directly with your Architect or Surveyor in this regard.

10 STEP GUIDE TO BUYING A HOUSE AT AUCTION IN IRELAND

1. Booking Deposit

Once you have paid your booking deposit you will need to give your conveyancing solicitor’s name to the auctioneer in order that they may instruct the solicitors for the vendor (Seller) to forward us the Contracts for Sale and vouching documentation.

2. Loan Approval

In the meantime, you should be attending to the matter of Loan Approval and you will need to instruct your Mortgage Broker / Lender of the full purchase price, the property address, and your Solicitor details in order that they issue the complete letter of offer of loan approval (i.e. not loan approval in principle). The Bank will generally conduct now a valuation of the property before the loan offer issues.

3. Planning Issues

It is important at this time that you make enquiries as to the planning in the area and the likely future development of the locality.

The best way to find out this information is to enquire personally with the Planning Department of the Local Authority offices to inspect the planning file and ascertain the development plan, the zoning of the area, and any planning application in the local area which may affect the property.

At the relevant Planning Department, you can inspect and ascertain the following:

  • The Planning File
  • The Development Plan
  • The zoning of the area
  • Road development
  • Planning Applications in the local area

You should attend to any planning queries you may have before the execution of contracts.

Once you execute contracts you will be bound to purchase the property and as you are intending on making the locality your home for many years to come it is important that you are satisfied with any proposed development for the locality.

In April 2012 the Department of the Environment, Community, and Local Heritage launched myplan.ie providing free access to zoning in some developments and local area plans.

You may wish also to visit this information service to view what information is available there regarding matters such as flooding, census, and other information that may be of assistance if it covers the area where you intend to purchase.

4. Property Survey

We strongly advise at this stage that you engage an Architect, Engineer, or Surveyor to conduct a full and thorough survey of the property and its maps. This will help avoid any future unforeseen problems arising that you may have been unaware of such as heating problems, poor insulation or ventilation, illegal extensions, or additions to the property which could lead to planning complications.

We also strongly advise you to consult an architect to deal with any issues relating to planning permissions for any development that has taken place OR may take place, during or following the sale.

You also need to check the planning issues for the surrounding areas, as these may affect the property being sold.

Likewise, if there are issues relating to engineering matters such as mapping or the laying of pipes arise, these should be dealt with by an engineer.

5. Examination of the Title

Once we receive contracts, we read the title and raise any queries regarding it with the solicitors acting for the vendor. When all queries are addressed and when your written loan approval is to hand, we will contact you we will make an appointment for you to attend at our Blanchardstown office for the purpose of executing Contracts for Sale and payment of the balance deposit.

6. Signing of Contract

When the contracts and balance deposit are returned to the vendor’s solicitors, the agreement to purchase is binding. The contracts are then countersigned by the Vendor with their Solicitor and one part returned to our office whereupon the contract is binding upon all parties to the transaction.

7. Transfer of Title

Further legal work then takes place between the Vendor’s Solicitor and the Purchaser’s Solicitor to prepare for the transfer of the title and legal ownership to you.

8. Lodging Title with your bank

If you are borrowing, your solicitors submit further legal documentation in connection with the loan to your bank. This includes a report on the title to the bank and undertaking to deposit the title deeds and Certificate of Title with the bank on drawdown of the loan as well as registration of the change of ownership.

9. Getting your mortgage cheque

You must attend directly with your bank/building society to ensure that all items necessary are in place to have your loan cheque issued in time for closing. Also ensure that your direct debit mandate, mortgage protection, house insurance, etc are in place. The balance of the monies towards the purchase of the property should also be organised in anticipation of the closing date.

10. Getting your keys!

We will then arrange to draw down your loan cheque and make arrangements with the vendors’ solicitors for the completion of this transaction at which time our fees will be payable and you will get the keys to your new home!

Get your conveyancing quote now by calling us on 01-8272888 or use the quick enquiry form here to learn more about buying a house at auction in Ireland from our property and conveyancing solicitors.

Buying a House by Auction in Dublin & Ireland FAQs Frequently Asked Questions

What is the most important step to take before buying a house at auction in Ireland?

Before purchasing a house at auction, it is essential to carry out a thorough property survey. Engage an architect, engineer, or surveyor to inspect the property for potential issues such as heating problems, poor insulation, or illegal extensions. This can help you avoid unforeseen complications after the sale, which could lead to costly repairs or planning issues.

How do you buy a house at auction in Dublin and Ireland?

To buy a house at auction in Dublin or anywhere in Ireland, you first need to identify the property you are interested in and attend an auction either in person or online. Before the auction, it’s essential to conduct a thorough survey of the property with the help of a qualified architect, engineer, or surveyor. You should also arrange financing and have full loan approval from your bank. At the auction, you will be required to pay a booking deposit if your bid is successful. Afterward, your solicitor will handle the legal aspects, including reviewing the contracts and transferring the title to you.

How does loan approval work when buying a house at auction?

After placing the booking deposit, you must arrange loan approval from your bank or lender. It’s important to secure a full loan approval (not just approval in principle) by providing the lender with the property’s purchase price, address, and your solicitor’s details. The bank will also conduct a property valuation before issuing the loan offer.

What happens when you buy a house at auction in Dublin and Ireland?

When you buy a house at auction in Dublin or elsewhere in Ireland, the process moves quickly. Once your bid is accepted, you must immediately pay a deposit. The sale becomes legally binding after you sign the contracts, meaning you are committed to purchasing the property. Your solicitor will then handle the legal work, such as transferring the title and coordinating with your bank for the mortgage (if applicable). Once everything is in order and the full payment is made, you will receive the keys to your new home, completing the purchase.

What should I check regarding planning issues before signing the contract?

You should check the zoning and development plans for the area where the property is located. Visit the local planning authority or use online services like myplan.ie to inspect zoning, future development plans, and any local planning applications. Resolve any planning concerns before signing the contract, as you will be legally bound to purchase the property once the contract is executed.

When does the agreement to purchase become legally binding?

The agreement to purchase becomes legally binding once you sign the contract and pay the balance deposit, and the seller’s solicitor countersigns the contract. At this point, both parties are committed to completing the transaction.

What happens after the contracts are signed?

After signing the contract, the solicitors for both the buyer and the seller will work on transferring the title and legal ownership to you. If you are using a mortgage, your solicitor will also submit the necessary documentation to your bank, and once everything is in place, you will receive the mortgage cheque. After the final legal steps are completed, you will receive the keys to the property.

Your Expert Conveyancing Claims Legal Team in Blanchardstown

At Carmody Moran Solicitors in Blanchardstown our experienced conveyancing solicitors are on hand to advise and skilled in handling all nature of buying houses at auction in Ireland.

The two partners of Carmody Moran Solicitors in Blanchardstown have a combined total of in excess of twenty five years professional legal experience. Together with their associates they aim to make the Court process as straight forward and navigable as possible while being on hand to alleviate their clients concerns and worries about going through the Court process.

Anthony-Carmody-Solicitor-Dublin

Anthony Carmody

Partner

Anthony Carmody is one of the founding Partners of Carmody Moran Solicitors.

He has significant experience in personal injury cases and general litigation having handled literally thousands of cases on behalf of clients based in Ireland and abroad.

Niamh-Moran-Family-Law-Solicitor-Dublin

Niamh Moran

Partner

Niamh Moran is one of the founding partners of Carmody Moran Solicitors and is a solicitor with wide ranging experience across all areas of general practice.

Niamh manages the family lawconveyancing in Dublin, and probate divisions of the practice. Niamh’s practice of law is extremely varied and she is regularly sought out for her expertise by clients and colleagues alike.

*While we have made every effort to provide accurate information, the law is always changing and it affects each person differently. This information is not a substitute for specific advice about you personally and it is not intended as legal advice. We will not be liable to you if you rely on this information. In contentious business, a solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement. This statement is made in compliance with Reg.8 of SI 518 of 2002.

You should note that no solicitor/client relationship or duty of care or liability of any nature shall exist or be deemed to exist between Carmody Moran Solicitors and you until you have received a written letter of engagement from us in which we confirm our appointment as your Solicitors.

INDEPENDENT GOOGLE CLIENT REVIEWS

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Fantastic service from Caila and the Team, made the home buying experience very straightforward and easy! Thank you !
We used Carmody Moran when selling our home & purchasing a new house and they were absolutely incredible from start to finish. Caila was a pleasure to deal with and kept us in the loop throughout the entire process. Caila made what is a stressful process so smooth sailing for us and I couldn’t recommend her more.
I would absolutely recommend Cardomy Moran solicitors, 10/10. Caila is who i dealt with and I would recommend her to anyone. Amazing amazing amazing. Thank you again Caila.
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