How to sell your house the right way
Wondering how to sell your house in Ireland? Selling your house in Ireland can be difficult if you have no idea where to start. We have put a checklist together that includes the most important information for selling your house in Ireland.
The legal side of selling your house
The first and most important step on how to sell your house is getting in touch with your solicitor before the sales process starts. You must get your solicitor to request the title documents for the house you want to sell. The title documents will be held with your bank if you still have a mortgage on the property. Request these title documents as soon as you get the chance.
BER Certificate (Building Energy Rating)
As the property owner, you must present a BER before selling your property. BER details must be included in commercial advertisements related to the sale. A BER is also required for a new home before it is first occupied. There are exceptions for certain categories of buildings. For example, protected structures and certain temporary buildings. Arrange for an engineer to carry out a BER on your property and you are legally required to supply this prior to completion. http://www.seai.ie/
Making your property presentable
Create a great first impression. Little details count, such as painting old doors and keeping the garden tidy, if any DIY jobs need taken care, do this before the viewings start
Still have a Mortgage?
If your house has a mortgage on it you will need to give authorization to your solicitor to take up the title deeds from the lending institution in order to prepare the contract for sale. It is important to do this as early as possible to give the solicitor time.
Getting the contracts ready
The contract for sale gets finalized once the solicitor has received all the relevant documentation from you and the lending institution. If the solicitor is preparing contracts for a sale by auction he just leaves the purchaser and purchase price blank until the auction is over and the purchaser is then known. Obviously before the auction the prospective bidders will want to check the title documents before the auction.
If the sale is by private treaty the contract will contain all names including the purchase price.
Planning Permission
Any home built since the 1st October 1964 needs to get planning permission. The solicitor will need to make sure that the planning documentation is in order. This will usually entail an architect’s certificate stating that the conditions of the planning regulations have been followed. If there has been any development on the property a similar approval will be required.
It is very important that the planning documents are in order before the sale. Otherwise the potential purchaser may, on discovery of a discrepancy, pull out of the transaction at a very late stage.
Selling a family home?
If you are selling your family home, even if it is in only one of the spouse’s names the consent of the other spouse is required. This is required under the Family Home Protection Act 1976. If both names are on the deeds then the problem does not arise, as both their signatures are required anyway. On completion of the sale of the Family home both spouses will have to sign a Family Home Protection Act Declaration. You will also have to produce a copy of your State Marriage Certificate.
Selling a house and taxation
If you are selling a house, which is not your main residence, then you must pay Capital Gains Tax. If the property is your main residence then you are not liable for Capital Gain Tax. Again your solicitor will advise you as to the amount that you will have to pay to the Revenue Commissioners. It will depend on the value of the house.
Whether or not it is your main residence your solicitor will have to get a Capital gains Tax Certificate for the purchase price if the purchase price is greater than the threshold set by the Revenue Commissioners. You will also have to give your P.P.S. number to the solicitor.
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