Buying Property can be daunting, here are our five tips for buying property :
1. Arrange your finance before beginning the search for your dream home.
A good way of doing this is to speak to a Mortgage Broker, for example Irish Mortgage Corporation who will seek to find you the best Mortgage terms available. Please see their website or contact our office for a referral.
2. Pass on your Solicitor’s contact information.
Once you have “gone sale agreed” and paid your booking deposit you should let both the auctioneer and the bank know the name of the solicitor acting for you.
3. Arrange a Structural Survey.
You should seek to have an independent structural survey carried out on the property as early as possible. This will reveal any potential latent defects and also let your solicitor know of any Planning or Building Regulations issues with regard to extensions etc. The bank will carry out their own survey in this regard however this will be to protect their own interests and not yours. We would advise you consult Peter White & Associates Architect at https://www.myhome.ie/services/architects/rathmines/peter-white-associates-architects-256095 and please feel free to contact our office for a referral.
4. Deposit and Remaining Balance.
10% Deposit (minus the booking deposit already paid to the auctioneer) will be payable at the exchange of Contracts. This usually occurs mid-way through the process and we would advise that you are able to easily access these funds ahead of time. The remaining 90% or “the balance” is then payable at the end of the process “on closing.”
5. Pre Closing Inspection.
We would strongly advise you to carry out a final pre closing inspection of the property the day before closing, this will allow you to ensure that everything is as it was when viewed by you. This is especially important with new build properties as building supplies or rubbish could have been left behind.
The above is small sample of the practical advice and guidance we provide at John Gaynor & Co Solicitors, built up from over 40 years in practice located on Thomas Street, Dublin 8. We are always happy to answer any further queries via telephone (01-4540068), email (info@jgs.ie) or appointment and we look forward to hearing from you.
