Sales Advice For House Owners In Kilkenny

This advice applies to the Republic Of Ireland only.

Steps involved after you have agreed a price for your house with the Buyer,

Appoint a Solicitor

Once you have agreed a price, you should seriously consider appointing a legal representative as early as possible. Solicitors need your agreement to find and secure your property’s Title Deeds if they are held by a bank or building society. The earlier this is done, the less chance of any delay in issuing Contracts at a later stage.

Take up Title Deeds

After they have received your written authority, the Solicitor will take up your Title Deeds from your Bank or Building Society. This takes about 14 days and at this stage your Solicitor will pay a scheduling fee to your Bank or Building Society on behalf of you, the seller.

Details Of Sale

The details of sale should be written once the price and conditions have been agreed by you and the booking deposit has been paid by the buyer. The details of sale contain basically what has been agreed by the buyer and seller, that is: the price, conditions of sale contents, buyer’s name and address, name of buyer’s solicitors and estimated closing date.

Contracts are Issued

After receiving the details of sale, your Solicitor will write the contracts and send them, together together with a copy of your Title Deeds to the Solicitors representing the buyers.

Contracts are Returned

If the Buyer’s Solicitor is satisfied after reading the Contracts, they will then advise the buyer to sign them and will then return same with a contract deposit to your Solicitor.

Signing of Contract

Now it’s the sellers turn to sign the contract and become legally bound to the sale. You sign the Contracts. Contracts are usually signed (in duplicate) in your solicitor’s office.

Exchange of Contracts

After the seller signs the Contracts, his/her Solicitor returns one copy to the Vendor’s Solicitor, thus completing the full exchange of Contracts and creating a binding agreement between both parties subject to terms and conditions set out in the Contract.

Requisitions.

The Purchaser’s Solicitor raises requisitions (general questions on the Title) and drafts the Purchase Deed. Both of these documents are sent to your Solicitor.

Replies to Requisitions

Your Solicitor replies to the questions raised above and returns any documentation required together with written replies and approves the draft Purchase Deed.

Redemption Figures

Your Solicitor obtains redemption figures being the amount required to redeem your existing loan calculated to the scheduled closing date (if any).

Deeds are Signed and Keys Transferred

The Transfer/Conveyance in the formal document which transfers your legal interest in your house to the Purchasers. It is signed by you together with other documentation in your Solicitor’s office. It is held on file until the closing date. You should also provide your Solicitor with a set of house keys and alarm code which will be handed over on completion of the sale

Closing Date

Your Solicitor agrees a closing date, on your instructions, with the Purchaser’s Solicitors.

Vaction Date

You should be ready to have your house fully emptied and left in a tidy fashion the day before or early on the completion date. You should also inform the Utility Companies (ESB, Bord Gais, Cablelink etc) of your scheduled move.

Close of Sale

The sale is completed by the Purchaser’s Solicitor attending at your Solicitor’s office and handing over the balance of the purchase monies in exchange for the Title Deeds

Redemption of Mortgage

Your Mortgage is paid off from the sale proceeds by your Solicitor

Transfer of Funds from Sale

Your Solicitor will account to you from the sale proceeds, if any, immediately following completion of sale and usually deducts the costs of sale from the balance.

This advice is provided  as a resource to home sellers. It is a general guide only and the advice of a solicitor is almost always required before selling your home.



Sell House Quick