When you decide on the home you wish to purchase and have agreed on a figure with both vendor and auctioneer, the first step toward securing the property, you are required to pay a booking deposit. This comprises of a bank transfer or draft/cheque made payable to Sherry FitzGerald Daly who hold this as stakeholders on behalf of the clients subject to contracts being signed by both parties. You will be issued with a receipt in return. The booking deposit is paid subject to contract and is fully refundable (unless otherwise stated) up to the point that the contracts are signed.(by both you and the vendor of the property).
When purchasing a property it is important to decide on a solicitor to act on your behalf during the course of the conveyance. This must be decided on prior to paying the booking deposit. If you have not yet retained the services of a solicitor, Sherry FitzGerald Daly will be delighted to provide you with a list of recommended solicitors to choose from. These solicitors are totally independent and will have you, the clients best interests to hand.
If a mortage is required Sherry FitzGerald Daly highly recommend that you obtain approval in principle before you start looking for your home as this will give you a clear indication of how much you can afford to spend.
It is normally a condition of your loan approval that you obtain life insurance up to the amount of the loan you intend to borrow. Sean Daly & Co is a Financial brokers can quote for life Insurance. Contact John Daly on email@example.com.Building insurance covers you against most forms of damage to your property. Sean Daly & Co is the Insurance side of the business, with 27 insurance companies to quote from we can provide a competitive quote for home, car and commercial insurance. Contact Grainne O’Driscoll on firstname.lastname@example.org
A valuation survey carried out by the proposed Mortgage Lending Company panel of valuers on the Mortgage Lending Company list.
You can choose to have a building survey on the property you are buying, Sherry FitzGerald Daly can recommend a number of competent professionals in this field. A basic building survey can cost approximately €300 to €800.
Once the booking deposit is paid to Sherry FitzGerald Daly we will write to the vendor’s solicitor requesting them to prepare contracts and forward same along with title documents to your solicitor. The contract will normally request that you sign within 14 – 21 days of receipt of same by your solicitor however it may take longer in some situations.
Sherry FitzGerald Daly cannot emphasise enough the importance of signing the contract within the specified timeframe as the vendor always retains the right to sell to another party. Formal written loan approval is always sent directly to your solicitor.
At this point the non – refundable 10% of the purchase price is paid (to include booking deposit). When the vendors solicitor is satisfied that the contracts are unconditional, the vendor will then be instructed to countersign. They will then return one contract to your solicitor and retain a copy for your records. This is the point in which the property is deemed to be sold. You will be issued a completion date at this point.
This is the most important and exciting process of the transaction. Once the sale is ready to close and all parties are satisfied, the final monies will be transferred and the sale will then close. Finally you will receive the keys of your new home. Sherry FitzGerald Daly wish all our customers a very pleasant experience while purchasers and hope the above guidelines help you on your journey to your new purchase.