Property Bubble Sentiment

The Buying Process

1. Appoint a Solicitor
A solicitor is required to handle the conveyancing (legal paperwork) associated with your house purchase. Even if you are purchasing a house in a brand new estate your solicitor must still perform a search and execute the conveyancing.

Ideally your solicitor should be familiar with the local area, and if possible, find a solicitor through the personal recommendations of friends and family.

2. Negotiation and Offer
Buyer's Agent - not as common in Ireland as elsewhere.

3. Booking Deposit
Refundable until contracts are signed.

4. Sale Details
Issued by the Estate Agent

5. Contracts Received
Issued by the vendor's solicitor to your solicitor.

6. Loan Offer
Details of the Loan are sent to your solicitor
Solicitor confirms details with you and you sign to accept the loan.

7. Sign Contracts
Your solicitor will check the contracts and have you sign them.

8. Second Deposit
When you sign contracts you pay the second deposit or stage payment.

9. Contracts Are Returned
The vendor's solicitor returns a signed copy of the contracts creating a binding agreement between you and the vendor.

10. Mortgage Protection/Home Insurance
You are required to have Mortgage Protection which will clear your mortgage in the event of your death.

11. Finalise Deeds
After final checks and questions are answered by the vendors, your solicitor approves the Deed.

12. Closing
When all issues have been resolved, a date is set to pay the remaining balance owed.

13. Complete Sale, Receive Keys

14. Sign Deeds and Registration

15. Registration Complete and Deeds Returned

Your rating: None Average: 5 (2 votes)