Property Search & Acquisition. €500 deductible from final successful invoice. Property purchase over €500,000 is 1%. Below €500,000 is 2%. Fees are subject to VAT at 23%.
Negotiation Only. If as a property buyer you have found your perfect home but unsure of how to go about negotiating successfully to acquire it, we offer a negotiation and overseeing the conveyancing service. €500 retainer deductible from fee of 0.5% plus VAT.
How difficult is the property purchase process in Ireland?
There are no restrictions for foreigners purchasing real property in Ireland and the investment climate is favourable for foreign businesses.
Once you find a suitable property, make an offer and engage the services of a solicitor. The offer does not legally bind you to buy. When your offer has been accepted, you may if you wish, arrange for a survey for early detection of potential problems. Your solicitor will then draft the Deed of Conveyance, which is the document that transfers the property into your name. This will be sent to the seller’s solicitor for his approval.
The vendor’s solicitor will then draw up a contract for the sale of the house. Once your solicitor has reviewed this contract and is satisfied with it and to the title of the property, you are now in a position to sign contracts.
At this point you hand over a non-refundable 10% deposit. Estate agents are involved in the transaction until seller signs a contract with a chosen buyer. The conveyancing of the property usually takes 6 to 8 weeks.
Stamp duty should be paid now, and then the sale of property is registered at the Land Registry Office or at the Registry of Deeds. Depending on the title to the property this can take up to another six months.
The solicitor will determine the nature of the title to your property. The costs incurred will depend on whether the title is held in the Land Registry or the Registry of Deeds. The Land Registry provides the system of compulsory title registration. The register is conclusive evidence of title to property and any right, privilege, appurtenance or burden appearing thereon.
On the other hand, the Registry of Deeds provides the system of voluntary registration for deeds and conveyances. The document filed in the Registry of Deeds is a memorial which is essentially a synopsis of the deed and also other statutory requirements.
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