BARRY HEALY & COMPANY SOLICITORS MONAGHAN T/A HEALYLAW Q&As ON BUYING A HOME

Q&As on Buying a Home

You may find some of the information you require for purchasing a home below. Please feel free to contact us if you need further details.

What happens once you pay your deposit?

The Auctioneer will send a sales advise confirming the specifics of the transaction to the Vendor's solicitor and your solicitor as soon as you have paid your deposit. The vendor's solicitor will write contracts (which outline the purchase price, closing date, and title-related details including planning ownership, taxes, and the property description) and send them our way.

What could cause this process to be delayed?

We wait seven days for the contracts to arrive after we obtain the sales advise. Our Team will pursue them if we can't find them and email you with a status update. Contracts may be delayed if the vendor's solicitor needs to obtain deeds from a bank, which typically takes 10 to 14 days.

What occurs after we sign contracts?

Once we obtain your Loan Pack we read them and give you advice regarding the property. We also ask the vendor's solicitor questions about the title. We'll send a copy of our letter to you. We don't want you to suffer any costs if your loan request is denied, therefore we wait until we obtain the loan offer.

What happens once you receive the letter of advice?

Once we have contracts and your loan pack we read them and advise you about the property. We also raise queries with the Vendor’s solicitor regarding the title. We will send you a copy of our letter. We wait until we have the loan offer as we don’t want you to incur any cost in the event that your loan is declined.

What are the requirements for signing?

When you sign contracts, you must pay the remaining 10% or 8% deposit. Make cheques payable to the vendor's solicitor. Please bring in your driver's license and utility bills if you haven't already given us copies of these. If you are satisfied, you sign the contracts after we go over the contracts and the loan offer. Additionally, we will be certain of the deadline.

Once you sign, are you committed?

The contracts are delivered to the vendor's solicitor for signature after you have signed them. The Vendors must sign and return one copy of the contract before it becomes legally binding.

When do you conclude and take payment?

We will email you specifics about the balance needed to close once we get a copy of the contract back and are aware of the closing date. Additionally, you need to confirm that your mortgage provider has all the paperwork required to draw down your loan cheque. We will set up to close as soon as we get all the funds. We transfer funds to the vendor's solicitor and conduct searches to make sure there are no last-minute judgments against the property or the vendor(s). The vendor's solicitor sends us all the title paperwork. We will release the funds and allow you to pick up the keys from the auctioneer if everything is well and you confirm that the house is empty and cleared out.

What follows the closing?

We make plans to register the property and stamp the deed. We send your deeds to the bank if you have a mortgage. When your deeds are recorded, we will write to you if you don't have a mortgage to collect them.

We hope this clarifies some of your concerns, but if not, call us right away. Our goal is to assist you.

BARRY HEALY & COMPANY SOLICITORS T/A HEALY Healy Law

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