Buying a New House or Property in Ireland
Blanchardstown, Castleknock, Dublin City Centre
SOLICITOR FOR BUYING A NEW HOUSE, BUILD, OR PROPERTY IN IRELAND
EIGHT STEPS TO FOLLOW
If you have already chosen your new home or build, below is a brief guide to how it all happens. For further information, please feel free to telephone our conveyancing solicitors at 01-8272888 or use the quick enquiry form here for help on buying a new home in Blanchardstown, Dublin, or anywhere in Ireland.
1. Booking Deposit*
Once you have paid your booking deposit [see info panel below] you will need to give your conveyancing solicitor’s name to the auctioneer in order that they may instruct the solicitors for the builder to forward us building agreements/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).
3. Planning Enquiries
We would also advise at this time that it is important 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 that 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 the website myplan.ie providing free access to zoning in some developments and local area plans.
You may wish also to check out this online 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. Contracts for Sale
Once we receive the Contracts, our conveyancing solicitors will contact you and when your written loan approval is to hand, we will make an appointment for you to attend this office for the purpose of executing Contracts for Sale and payment of the balance deposit.
BUYING A NEW PROPERTY / CONVEYANCING
Please look to our conveyancing practice areas to find the solution for your particular need.
Buying a New Property >
Buying a Secondhand Property >
Selling & Buying at Same Time >
5. Estimate of Completion Date
When the contracts and balance deposit are returned to the builder’s solicitors the agreement to purchase is binding and it is a matter of waiting until the house is completed.
Standard contracts for new houses do not specify completion dates and provide for the house to be completed within 18 months of signing thus any indication of completion given is an estimate only.
6. Obtaining a Completion Notice
Once the house has been completed, the builder will issue us with a Completion Notice and we will immediately contact you to advise you of the same. We would advise you to obtain the services of an architect/surveyor to draw up a snag list which should be sent to the builder for completion prior to the closing of the sale.
7. Getting your loan cheque
You must also attend directly with your bank/building Society to all items necessary to have your loan cheque issued in time for closing such as your direct debit mandate, house insurance, etc.
8. Get your keys!
We will then arrange to draw down your loan cheque and make an appointment to attend at the offices of the builders’ solicitors for the purpose of completion of this transaction at which time our fees will be payable and you will get the keys after buying a new home!
*BOOKING DEPOSIT ADVISORY
As a general rule, there is no binding contract for the sale/purchase of a property until a contract has been signed by both the vendor and the purchaser.
Before meeting your solicitor care must be taken to ensure that you do not unintentionally find yourself in a contractual situation and you should take early legal advice to protect your position when looking to buy or sell a property.
You should not give the vendor or the auctioneer, any documents signed by you, otherwise, you may unintentionally find that you have, committed yourself to a legally binding agreement without intending to do so.
For this reason, Carmody Moran Solicitors strongly recommends that any booking deposit when buying a new home is paid through your Solicitors.
Contact our property solicitors in our Blanchardstown office today at 01-8272888 or use the quick enquiry form here to get help when buying your new home.
Frequently Asked Questions Buying a New House or Buying a New Property in Ireland
What is the purpose of a booking deposit when purchasing a new house or property?
A booking deposit is a sum of money paid by the buyer to secure the property. It indicates the buyer’s serious intent to purchase and temporarily take the property off the market.
What steps should I follow after making the booking deposit payment?
After paying the booking deposit, you should inform your conveyancing solicitor of the transaction. They will then liaise with the builder’s solicitors to receive the necessary contracts and documentation.
How can I obtain loan approval for buying a new property?
To secure loan approval, you must provide your mortgage broker or lender with details such as:
- the full purchase price
- property address
- your solicitor’s information
This ensures you receive a complete loan approval offer, not just approval in principle.
What planning inquiries should I conduct before purchasing a property?
Before buying a property, it’s crucial to inquire about the:
- area’s planning details and
- future development prospects
Visit the Planning Department of the Local Authority to access information such as the Planning File, Development Plan, zoning, road development, and local planning applications.
What key information should I inspect at the Planning Department of the Local Authority?
During your visit to the Planning Department, focus on gathering details about the:
- Planning File
- Development Plan
- zoning regulations
- road development plans
- and any recent planning applications relevant to your intended property purchase
What are the differences between joint tenants and tenants in common when co-purchasing property?
When co-purchasing property:
Joint tenants collectively own the property, and if one owner passes away, their share automatically goes to the other owner(s). In contrast, tenants in common can specify ownership percentages and can leave their share to whomever they choose in their will.
How can a co-ownership agreement protect my interests when buying property with a friend?
When buying property with a friend, a co-ownership agreement outlines financial responsibilities, dispute resolution procedures, and ownership percentages. It helps protect your investment, clarifies expectations, and provides a framework for handling various scenarios.
What are the potential tax implications of co-purchasing property with a friend?
Co-purchasing property may have tax implications.
It’s advisable to consult with a tax professional to understand property tax and capital gains tax responsibilities based on your co-ownership arrangement.
What is the typical timeframe for completing a new property purchase in Ireland?
The completion timeframe can vary but often takes several weeks. It involves steps such as:
- signing contracts
- waiting for the property to be completed (usually within 18 months)
- and finalizing the transaction
What role does an architect or surveyor play in the property-buying process?
An architect or surveyor can
- inspect the property
- identify issues or defects (known as a snag list)
- and work with the builder to ensure necessary corrections are made before the sale is closed
Their expertise helps ensure the property meets your expectations and standards.
Can friends buy a house together in Ireland?
Yes, friends can purchase a house together in Ireland. This is known as co-buying. It involves multiple individuals pooling their resources and sharing ownership and responsibilities.
Is it a good idea to buy property in Ireland?
Whether buying property in Ireland is a good idea depends on individual circumstances and investment goals. Ireland has a stable property market and can be a good investment choice, but it’s essential to consider factors like location, market conditions, and personal financial objectives.
Can a group of friends get a mortgage to buy a house in Ireland?
Yes, a group of friends can apply for a joint mortgage to purchase a house in Ireland. Lenders typically assess the creditworthiness and financial stability of all co-applicants when evaluating the mortgage application.
How can I purchase a property in Ireland with limited or no funds?
Buying a house with no money down in Ireland can be challenging. It’s advisable to save for a down payment, explore government assistance programs, or consider alternative financing options.
Can I buy a house in Ireland and obtain residency?
Owning property in Ireland does not automatically grant residency or citizenship. Separate immigration and visa processes apply for those seeking residency based on property ownership.
Can someone who is not a resident buy a property in Ireland?
Yes, foreigners can buy property in Ireland. The process is generally straightforward, but it’s essential to consult with a solicitor and consider any specific legal requirements.
Can I buy a house in Ireland from the UK?
Yes, UK residents can buy property in Ireland. The process is similar to buying property domestically, but it’s crucial to understand the legal and financial aspects involved.
How much time does it take to purchase a property with cash money in Ireland?
The timeframe for buying a house with cash in Ireland can vary depending on factors like property availability, negotiations, and legal procedures. On average, it may take a few weeks to complete the transaction.
What is the buying a house in Ireland checklist?
A buying-a-house checklist in Ireland typically includes steps such as obtaining mortgage approval, conducting property inspections, reviewing contracts, ensuring legal compliance, and preparing for the closing process. It’s essential to work with a solicitor and follow a comprehensive checklist to ensure a smooth transaction.
Let us take it from here
Your Expert House Purchase Solicitors When Buying a New Home in Blanchardstown
At Carmody Moran Solicitors our experienced property and conveyancing solicitors are on hand to advise and skilled in buying a new home or property in Dublin or anywhere 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
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
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 law, conveyancing 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.
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