First Time Buyer? Here is Why You Need a Property Solicitor

First-time buyer? Here is why you need a property solicitor

If you are planning on purchasing a home in the rebel county, then chances are, you will need a property solicitor in Cork.

Buying a home is one of life’s major decisions. Whether you are a first-time buyer, investing in property in Cork, or sizing up, it is rarely a straightforward process. There are many stages involved and often the number of legal requirements to be undertaken is unexpected.

From the beginning of the process, a property solicitor will work alongside you. His or her role is essential from the first step to the last.

So, what exactly is their role in the journey?

Conveyancing

Conveyancing is the legal term for transferring the deeds of a property and the paperwork involved in the actual transaction. It’s important to contact a conveyancing solicitor Cork as early as possible in the process as the fee for conveyancing includes introductory advice.

Once a selling price has been agreed between the seller and you (the buyer), the seller’s solicitor will draw up a contract which will then be sent to your solicitor. From there, he or she will draft a purchase deed and raise any queries.

Your property solicitor will then carry out checks to make sure the house is legitimate for purchase. These checks include a planning search, ensuring the property was built in accordance with regulations, that there are no outstanding mortgages or debts (e.g. bills) against the property, and many more assurances to help secure peace of mind before purchase.

Deed transferring

Following the sufficient checks being answered, your solicitor will draft a deed transferring title in the property to you. If the seller is happy with this, he or she will also sign it.

Next, your property solicitor (if applicable) will check whether capital gains tax (CGT) has been paid by the seller and calculate the amount of stamp duty to be paid to Revenue. He or she will also register ownership details with the Property Registration Authority (PRA).

Other matters with which a property solicitor can help

In addition to the above a solicitor Cork will also advise you in the following areas:

• If you can’t make loan repayments, what will happen?
• Should the house be purchased in one name or joint?
• The contents that will be left on the property
• Co-ownership agreements
• Estimating the total cost of the transaction

If you are looking for an experienced property solicitor in Cork, contact Ronan Enright by calling (021) 235 5443 or emailing info@ronanenright.com

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