Lynch Solicitors' guide to buying and selling Tipperary property
When buying or selling a property you will inevitably need to engage the services of a solicitor.
The role of the solicitor is to facilitate the legal transaction between the seller and the buyer. They will investigate the title to the property to ensure that what you are buying is correct.
When should you engage the services of a solicitor?
You should engage your solicitor at the very outset so that they can advise you of the process.
Some people may not address getting a loan until later in the process, which can often delay the purchase significantly.
A solicitor will also help you with all documentation involved with the property such as title deeds, maps and all associated planning documentation.
Should I have a property surveyed?
We always recommend to a purchaser to engage the services of an engineer to carry out a structural survey and boundary check of the property.
If the buyer indicates that they wish to have the property surveyed, we would always insist that this be done at the start of the process so that any issues that arise as a result of the survey can be addressed with the vendor's solicitor as soon as possible.
How long will the process take?
The process takes an average of 12 weeks but this is dependent on a number of factors and every situation is different.
The main factors that can slow up a sale are:
- Loan offers can take some time to issue from the bank.
- Receipt of contracts and copy title from vendor’s solicitor.
- Issues with title deeds or boundary maps.
Buying a house at auction
If you’re buying a house at auction, you will attend the auction on the day and make a bid. If your bid is successful, you will be signing contracts on the day and you will hand over your deposit, which binds you to the purchase and means that your deposit is non refundable.
If you are going to buy a house at auction, we would always advise that your solicitor has had an opportunity to review the title documents before auction. If they don’t and if an issue arises, you are bound to the contract you sign.
It is very much a buyer beware scenario.
Building a house
The legal process of building a house is different, particularly if you are drawing down a mortgage.
The transfer of the land takes place first, then the construction proceeds and the mortgage is drawn down by way of staged payments.
Your engineer will be heavily involved in the process.
Buying and selling at the same time
If you find yourself buying and selling at the same time, it can be a very stressful situation and we would always recommend that people have somewhere to stay in the interim.
When you are both buying and selling a property, there will often be a number of parties involved, including your solicitor, the other party’s solicitor and in most cases two or more vendors. It is important to remember that when a chain is involved, it can sometimes be a longer process with many variables at play.
It is always better to consult with us early and before you formally decide to put your property up for sale so as to enable the transaction to proceed as smoothly as possible. An early consultation will help to identify any major problems that could arise. We can start to address these issues to ensure your transaction proceeds smoothly.
For further advice or if you wish to discuss any other legal area, please contact firstname.lastname@example.org or telephone 052-6124344. Visit www.lynchsolicitors.ie.
The material contained in this blog is provided for general information purposes only and does not amount to legal or other professional advice. While every care has been taken in the preparation of the information, we advise you to seek specific advice from us about any legal decision or course of action.