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//Smooth sailing in property sales

Smooth sailing in property sales

It is important to contact your solicitor at an early stage to ensure the sale of residential property can proceed as smoothly as possible. William Donovan navigates us through to calm waters

In brief: If you are planning to sell our nine steps can assist in preparing for an efficient and quick sale.

We recommend carrying out these steps prior to placing the property on the market for sale to avoid delays once a sale is agreed:-

Steps to a smooth sale

1. Decide on the Manner of Sale – Sale can be by private treaty or public auction. Discuss with your auctioneer and notify your solicitor so that they can prepare the contract tailored to the sale type.

2. Check Planning Permission – If there has been a development to the property such as an extension or conversion of a garage or attic, an expert architect or engineer needs to have certified that the development either constituted an exempt development or was in compliance with planning permission and building regulations. If it was not in compliance, it may be necessary to apply for retention permission, which can take a number of months. Ensuring your property has the necessary certificates and planning permissions in place prior to placing the property on the market can minimise such delays.

3. Obtain a BER Certificate – Every residential property needs an energy rating certificate and an Advisory Report before an auctioneer can advertise the property for sale.

4. Register the Septic Tank – The septic tank has to be registered with Protect Our Water and a Certificate of Registration has to be produced for the sale to proceed.

5. Obtain a PPS Number – A vendor of a property located in Ireland has to have an Irish Tax Number activated for stamp duty purposes. You will need to provide to your solicitor your birth certificate, passport or national identity card and a recent utility bill to confirm your current place of residence.

When you first instruct your solicitor be sure to bring all the necessary information with you in order for your solicitor to advise and obtain any necessary documents. As well as the above, this will include details of:-

6. Title Deeds – The primary duty of the solicitor is to examine the deeds to ensure that there is a good marketable title to the property. If the title is leasehold, they need to ensure that it has enough years left to run to constitute a good leasehold title. If there is a mortgage, the solicitor needs to take up the title deeds from the lending institution, which can take time.

7. Obtain Advice on Capital Gains Tax and Principal Private Residence Relief – If the vendor is not residing in the property as his/her principle private residence, it may be necessary to consult an accountant to make sure that there is no major capital gains tax liability. If resident, and the owner occupies the property as his/her principal private residence, the owner can avail of principal private residence relief.

8. Sale of Family Home and Matrimonial Matters – If the property being sold is the family home, even if it is in only one spouse’s name, the consent of the other spouse is required. If the couple owning the house have separated, it may be necessary to have a Separation Agreement in place before the sale goes ahead.

9. Household Charge, NPPR and LPT Charges – These charges must be paid in full before sale. Depending on the sale price agreed, it may also be necessary to adjust the band rate applicable.

Dealing with these matters at the early stages of the transaction will save considerable time later and will facilitate an expeditious and efficient sale.

2018-11-13T10:46:14+00:00July 3rd, 2018|Publications|

About the Author:

William Donovan is a Senior Solicitor in our property department and joined the firm in April 2006. William specialises in all aspects of residential and commercial property transactions and probate, […]

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