Selling a Property
Your Solicitor has a vitally important role when you sell a property. Whether the sale is privately arranged or by an Auctioneer, it is essential that your Solicitor be fully involved from the outset. We, at Staunton Caulfield & Co., Solicitors, have extensive experience in handling all types of property sales, be they of private houses, commercial or investment properties, or agricultural land.
You will need to provide us with your title deeds or details of where they are held – if, for example, by a Lender. We will then prepare Contracts for Sale, issue the same to the Solicitor’s for the Purchaser, with Replies to and Requisitions on Title, deal with queries, prepare the completion documents and attend to closing of the sale.
On closing, ownership passes to the Purchaser, and the nett sale proceeds are released to you. We will also be happy to advise on other issues that may arise, such as taxation. Please, therefore, contact us at 094 9620008 or email us at solicitor@stauntoncaulfield.ie if you have a property for sale, and we will arrange a prompt appointment for you.
I have agreed to sell my house… what do I do next?
Once you have agreed to sell your house, it is prudent to contact your Solicitor for assistance with the next steps. If an Auctioneer is involved, he/she will also ask you for details of your Solicitor so they can forward the necessary information to progress matters for you in relation to the sale.
Once we are in receipt of the necessary information, we will liaise with you in order to draft the Contracts for Sale and will issue you with the appropriate statutory documentation such as details of legal costs and outlays under Section 150 of the Legal Services Regulation Act 2015. To enable us to draft the Contracts, we will require all the Title documentation for the property.
You may have the title documents in your possession, or they may be with the Solicitor who assisted you with the purchase of the property, or they may be with your lending institution if there is a mortgage over the property. Once the title documentation has been received, we will draft Contracts for Sale. We will then forward the Contracts, together with copies of the title documentation and Replies to Requisitions on Title, to the Solicitors for the proposed Purchaser(s).
The Solicitors for the Purchasers will review all the documentation, and they may raise some preliminary pre-contract enquiries. If they do, we will liaise with you to reply to these queries. Once all their queries are replied to, the Solicitors will send us back the Contract for Sale, signed by the Purchaser(s), together with the balance of the 10% deposit.
Once Contracts for Sale and the deposit are received, we will draft the closing documentation as per the Purchaser’s Solicitors Completion requirements. We will meet with you in order to have the Contracts for Sale and closing documents executed. Once the Contracts for Sale are signed by both the Purchaser(s) and you, the Contract becomes legally binding.
Once all closing documentation has been executed, we will require the Purchaser’s Solicitors to put us in funds for the balance purchase monies. When we are in receipt of the balance purchase monies, we will forward them the closing documentation. After this exchange, the Purchaser’s Solicitors will carry out some final searches, which we will explain and return.
Upon satisfactory explanation of searches, we will ask the Solicitors for the Purchaser to confirm that the sale has closed. We will then authorise the Auctioneer to release the keys to the property to the Purchaser(s). At this point, the sale is officially closed, and the Purchaser(s) becomes the new owner(s) of the property.
Once the sale has completed, we will send the funds due to you, that is, the sale proceeds, less deductions such as Auctioneer’s fees, Solicitors’ fees and any loan redemption due, all of which will be detailed to you and agreed with you. This will bring the transaction to a conclusion for you.
