Guide to Selling

Guide to Selling – Dublin Conveyancing/ Property Solicitors

Appointing a Solicitor

You will need to employ a Solicitor to prepare the contracts for the sale of your property and therefore your solicitor will have to review the title documents to your property.

Details of the Property for Sale

If you have employed the services of an auctioneer to sell your property, he or she will forward the details of the sale to your solicitor, to include the name of the proposed purchaser, their solicitor, and the price the property is to be sold for. Your auctioneer will usually obtain a booking deposit from the potential purchaser and when the sale is concluded they will deduct their professional fee from the booking deposit and arrange to have the balance of the purchase monies forwarded to you.

Contracts for Sale

Once your Solicitor has received the information from your auctioneer regarding the sale, he or she will then forward the Contract (in duplicate) together with copies of the title documents to the solicitor acting for the purchaser.

When the purchaser's Solicitor has reviewed the contract with their client and the purchaser is happy to proceed with the purchase of the property they will sign and return the contracts to your solicitors together with a deposit.

At this point your solicitors will request that you attend at their office to sign the contracts (in duplicate); at this time a binding contract comes into existence.

Once the contracts have been signed your solicitor will return one copy of the contract to the purchasers Solicitor.

Objections and Requisitions

The purchaser's Solicitors will then raise Objections and Requisitions on Title; this is basically a series of questions relating to the property. The purchaser's Solicitor will also draft the Deed of transfer. The purchasers Solicitors will then forward these documents to your Solicitor.

When your solicitor receives these documents he or she will then respond to the questions raised in the Objection and Requisitions and approve the draft deed.

Mortgage

If you have a mortgage on your property you will be required to discharge same out of the proceeds of sale and your solicitor will calculate the exact amount outstanding on your mortgage which is to be discharged on the date the sale is to close.

Signing the Deed and Documents

The transfer deed referred to above is the legal document transferring your ownership of the property to the purchaser. Once all outstanding issues referred to above have been complied with your solicitors will again meet with you for the purpose of having you sign the deed. This will then be held on file until the closing date.

Closing the Sale

Your Solicitor and the Purchaser Solicitor will agree a closing date prior to this date you should ensure that you have fully cleared the property of you possessions and contacted your utility providers confirm that your are leaving the property.

On the closing date the purchasers Solicitor will attend at your Solicitors office and take possession of the title documents, alarm codes and keys to the property.

Once the sale has been completed

If there was a mortgage over your property your solicitor will arrange for the amount outstanding on same to be paid to your Bank. Your solicitor will then deducts any outstanding Professional fees and outlay and then forward the balance of the purchase monies to you.