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 CONVEYANCING :::
BUYING, SELLING REMORTGAGING AND RENTING PROPERTY
At Patrick Duffy, Solicitors we can take a lot of the anxiety and stress out of a new property transaction.
Whether it is a house and apartment, an office, business premises, factory or land.
We will discuss the transaction with you, take all of the details, keep in touch with the estate agent on your behalf.
We will ensure that your interest are protected at all times and that there is no time consuming and wasteful delays.
BUYING PROPERTY :
Buying a property will probably be the biggest single purchase you will ever make, and it is essential that you are fully informed of exactly what is involved and the considerations that must be made prior to entering into a contract.
When you are a first time buyer or perhaps investing in a second property, we would be more than happy to take you through the whole process and highlight any potential pitfalls that might occur and at all times our aim is to serve your best interest and ensure that you have peace of mind.
WE WILL ALSO PROVIDE GUIDANCE ON ;
• The Premises.
• Joint Ownership.
• Loans & Security.
• Structural and general survey.
• Planning Permission and Building Regulations.
• The likely time scale involved in the transaction.
• The expense involves such as stamp duty and lands registry fees etc.
• Advice in any matters relevant to the particular property prior to the signing of any documents.
• Other necessary services to ensure the transaction runs smoothly.
• Always consult a Solicitor before embarking on purchasing any property or before paying a deposit, if possible.
SELLING PROPERTY :
When selling property there are certain matters that must be taken into acocunt and we will be on hand to assist you in every possible way, such as
• Taking the Deeds up from your Bank or Building Society.
• Drafting contracts
• Redeeming any Mortgage which you have on the property.
• Advising on any Capital Gains Liability if same arises.
• Making any Capital Gains returns to the Revenue Commissioners on your behalf.
REMORTGAGING PROPERTY :
Many people frequently remortgage in order to available of better terms to consolidate existing loans, finance extensions or improvements and they will want a firm to provide a straight forward legal service and a trouble free transaction and as early as possible a draw down of the loan cheque.
RENTING COMMERCIAL PROPERTY :
Whether you are a prospective Landlord you will need sound advice on the provisions of both short term agreements and long term and full repair and insurance leases.
In the absence of such advice both Landlord and Tenant run the risk of binding themselves into obligations which result in financial loss. You will be advised on statutory law that is relevant and its effects from a commerical point of view.
RENTING RESIDENTIAL PROPERTY :
For either a Landlord or Tenant we are on hand to assist including the preparation of leases on the various rights and obligations of both parties.
With the introduction of the Residential Tenancy Act, 2004, renting a residential property has been regulated as never before.
We can advise you on the obligations imposed and the rights and the redress provided for.
The Private Residential Tenancy Board requires that Landlords must register with the Board or face fines, also the Act specifies in the first 6 months of tenancy the Landlord can terminate the tenancy without giving reason. After that until the end of the fourth year of the tenancy can only terminate for a limited number of reasons which must be notified in writing.
OFTEN USED WORDS IN CONVEYANCING
APR : this is annual percentage rate, the APR is the interest rate calculated to reflect the total cost of the credit over the term of the Mortgage, Caveat Emptor, a buyer is expected to look after his own interest and take the property as he finds it, however statute law now imposes condition to a certain extent.
Contract for Sale :
the written legal agreement between the Vendor and the Purchaser.
Deposit :
this is usually paid in two parts, a booking deposit to the Estate Agent which is refundable and a contract deposit usually making up 10% of the price of the house.
Land Registry :
this is the Government Dept, that keeps records of ownership of most land and house property in the state.
The Registry of Deeds :
is a similar Government Body where some properties are registered, normally in the centre of cities.
Mortgage Protection :
this is the Life Insurance that you take out to cover the death of one or both of the Purchasers during the term of the Mortgage.
Searches :
an investigation by Law Searchers, to establish if Bankruptcy or Judgements attach to the property and/or to the Vendor/Purchaser.
Subject to Contract :
this means that no binding agreement will exist until formal contracts have been completed by the parties. Often times contracts are made subject to the purchaser obtaining loan approval from Bank or Building Society. |
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