- The Seller puts the property up for sale with the Auctioneer. Once the Auctioneer accepts an offer from the Buyer the Auctioneer notifies the Seller’s Solicitor and sends a Memorandum of Sale giving details of the property, the sale price and the Buyer’s Solicitors.
- The Buyer’s Solicitor contacts the Seller and sends them out a questionnaire requesting details of the property. At this stage the Seller’s Solicitor needs to know whether or not there is a mortgage on the property and if so, how much is owing. If there is a mortgage on the property, the Seller’s Solicitor will request the title deeds from the Bank or Building Society which holds the mortgage and they will also request a redemption statement showing the amount of money outstanding. If there is no mortgage, the Seller should deliver the title deeds to the Solicitors office.
- Once the title deeds have been received and the Seller has answered the Sale Questionnaire the Seller’s Solicitor sends out Contracts and supporting documentation to the Buyer’s Solicitor.
- The Buyer’s Solicitor will then raise queries on the information provided and the Seller’s Solicitor will liaise with the Seller in respect of providing answers to these queries. The Buyer’s Solicitor may wait until the Buyer has received a mortgage offer (unless buying for cash) before they send these enquiries.
- The Seller’s Solicitor with the assistance of the Seller replies to all queries raised and sends the replies back to the Buyer’s Solicitor. Once the Buyer’s Solicitor is satisfied with the replies and they are in receipt of the mortgage offer (if applicable) the Buyer’s Solicitor makes an appointment with the Buyer to come in and sign the Contracts and the mortgage documents.
- The Buyer’s Solicitor then sends the Contracts and the balance of the 10% deposit to the Seller’s Solicitor.
- On receipt of the Contracts the Seller’s Solicitor makes an appointment with the Seller to come in and sign the Contracts which have already been signed by the Buyer.
- One part of the Contracts signed by the both parties is sent back to the Buyer’s Solicitor and there is no binding Contract in place until such time as this is received by the Buyer’s Solicitor. A closing date is agreed at this stage.
- The Seller’s Solicitor then receives a draft of the Transfer/Conveyance from the Buyer’s Solicitor together with a list of all items which are required by the Buyer’s Solicitor to close the sale.
- In relation to the legal items required to close these also include an up to date receipt for Local Property Tax, NPPR, Irish Water charges and Household Charge 2012. The onus is on the Seller to obtain these from the various Authorities and provide them to the Solicitor.
- If there is a mortgage on the property we will request an up to date statement at this stage confirming the amount due.
- On the day of the agreed closing date the Seller’s Solicitor ensures that the Buyer’s Solicitor has the documents and the Buyer’s Solicitor ensures that the Seller’s Solicitor has the monies required to complete the transaction.
- The Buyer’s Solicitors carries out Searches on the closing date and the Seller’s Solicitor is required to provide explanations of these.
- Once the searches have been explained, the Seller’s Solicitor contacts the Auctioneer to release the keys to the Buyer. The Seller must ensure that the keys and any alarm codes are with the Auctioneer prior to the closing date.
- Following completion of the sale if there is a mortgage on the property the Seller’s Solicitor discharges the mortgage and thereafter provides an Accounting Statement to the Seller.