Houses For Sale In Ireland | BusinessAndLegal.ie

Purchasing second hand properties

Terry Gorry & Co. solicitors will

1. Inspect the title to the property and ensure that it is in order
2. Carry out searches against the property, the vendors and you as the purchasers to ensure that there are no outstanding judgments or claims on the property or issues likely to crop up to cause a hitch

For your part as the purchaser you will need to ensure that you have written loan approval before signing contracts and that you have a surveyor or engineer carry out a full survey of the property to check for any structural defects or other problems.(This is part of the property purchases and sales series on this site)

 

If this is not done then when you sign the contracts it will be deemed in law that you were aware of any problems before signing and even if these problems become apparent later on.

 

You engineer’s survey should also be helpful in relation to any extensions, alterations or conversions that may have been carried out on the property which may have planning implications. If this is the case then proper planning documentation will need to be supplied by the vendor’s solicitor with the title deeds.

 

You might also check with  the local Gardai who may let you know about any social/crime problems in the area which you might not be aware of.

 

Generally you will need to pay 10% of the purchase price as a deposit on signing the contract to buy. It is advisable at this stage to insure the property as once you have signed the contract you are committed to completing and should the house go on fire in the meantime you could face a severe financial loss.

via businessandlegal.ie