Ireland » The Purchase Process

The latest property news in Ireland is equal to being able to acquire the necessary information on what is new on the market and particularly in the price range of any property in Ireland. The first thing one needs to be aware of is that buying a property in Ireland is most of the times a rewarding experience and a costly one at the same time.

Nonetheless, the apparently overvalued property in Ireland has a very reasonable basis for its current standing: an increasing demand, coming from both the Irish and the foreigners fascinated with the magnificent scenery of rural and urban locations in Ireland and, at the same time, interested in owning a property in Ireland which they can comfortably call "home".
A cheaper property in Ireland comes with less space and, generally, it has been built during the last 30 or 40 years. However, such a property as well usually reaches purchase prices of over 180,000 or 200,000.

• Any property in Ireland with a certain respectable background and corresponding modern facilities included, will go beyond costs of 600,000.
• The buyer makes an offer after looking at a suitable property. Bearing in mind the other interest in the property and guidance in the negotiations, at the best possible price. 
• The buyer has to lodge a 5% deposit with the selling agent, in order that the property is withdrawn from the market in their name, subject to contract. 
• Solicitors are instructed and the owner's Solicitors prepare and issue contracts (two identical copies). The buyer is advised to have the property surveyed and Local Search undertaken. 
• Once the buyers Solicitor has approved the contracts the buyer signs them and pays to their Solicitors a further 5% deposit. 
• Contracts are then sent to the owners Solicitor, with the further 5% deposit and again the owner sign both contracts.
• Contracts are exchanged when the owners solicitors return one of the contracts signed by both parties, to the buyer's Solicitors. A completion date is agreed, and the respective Solicitors complete the post contract documentation by Completion.
• The buyers Solicitors will request the balance of the purchase monies plus sufficient funds to cover their fees, Stamp duty if applicable, Land Registry fee etc.
• On exchange of contracts it is the buyers responsibility to have the property insured.