The legal practice and procedures when it comes to buying and selling
The new process now requires that a full investigation of title takes place before the contracts are signed by the purchaser and the vendor. This means that the vendor, the person selling the property, must now have all of his/her documentation in order at the time that the contracts of sale are issued by his/her solicitor to the purchaser’s solicitor. Previously the investigation of title took place after the purchaser and vendor had signed contracts. The new system now requires that all matters relating to title are investigated prior to contracts being signed by the purchaser.
In essence this means that the vendor must arrange all of the required documents in advance of the issue of contracts.
The usual documents that the vendor will require in the sale of a residential dwelling house include:
- Local Property Tax History printout
- Household Charge receipt
- Non-Principal Private Residence Charge Discharge/Exemption for the years 2009 – 2013
- BER Certificate & Advisory Report
- Irish Water account number
- Letter from relevant Local Authority confirming the position regarding roads and services abutting the property in sale
- All original Title Deeds
- Full details regarding the planning status of the property which may require a planning search in the relevant Local Authority in advance of contracts being issued.
- Septic Tank Registration Certificate (if applicable)
- Up to date redemption figures (if a mortgage applies to the property)
As the vendor your solicitor will advise you fully on all of the documents that will be required prior to the issue of contracts. The main point is if you are thinking of selling, act as soon as possible as it may take weeks to organise all the documents.
As a purchaser, one of the key points of changes to note in the new process is that you will be responsible for checking that all utilities are connected to the property at the time of viewing and on the signing of the Contracts. Utilities include the supply of electricity, gas, telephone line, ISDN line and television aerial etc. A reference to utilities is no longer included in the Contract for Sale. These changes will be explained to you by your solicitor. It is hoped that the new process will mean that once contracts are signed by both parties, then the closing date for the transaction will be promptly thereafter.