Duncan Grehan & Partners are a firm of Irish Solicitors based in Dublin, bonded and licensed to provide legal advice on all aspects of Irish law in all counties in the Republic of Ireland. We are especially experienced in advising persons buying Irish property from abroad and we have encountered and dealt with most of the pitfalls. We would be pleased to advise you on all aspects of purchasing or selling properties of a commercial, residential or agricultural nature anywhere in Ireland.

When purchasing or selling property in Ireland the buyer and the seller each employ their own solicitor. A purchaser should always retain a solicitor who is independent of and not associated with the solicitor acting for the seller or the seller’s estate agent.

We can introduce you to architects, surveyors, accountants and managers of banks or other lending institutions and insurers. We will complete all legal formalities necessary to ensure that you acquire good and marketable title in your Irish property.

Before you agree or contract to buy or sell any property in Ireland you should first of all contact us so that we can assess the proposals on your behalf and ensure that your interests are properly protected.

We would draw your attention to the following four points:

1. The Procedure

(i) Outline for Sale of Property - When we act for the Vendor:

When we get instructions to sell a property on behalf of our clients the following steps are taken:

• Write to client sending out our cost note and letter of engagement.
• We open file and write to solicitors for vendor looking for Contracts and Title Documents.
• When received, we inspect Contracts and Title Documents from the Vendor Solicitors, the Surveyor’s report from our client and the Solicitor’s Mortgage Pack from our client’s lender (if a mortgage is being obtained to purchase the property) and raise any pre-Contract enquiries with the vendors solicitors.
• We will requisition any necessary pre-contract searches for explanation by the Vendor Solicitor.
• When we are satisfied that the Contracts and Title are in order our client attends our office and we advise on the content of the Contracts and the client signs the Contracts. Our client arranges at this stage to transfer to our client bank account the deposit, usually being 10% of the purchase price less any booking deposit paid to the auctioneer.
• If our client is taking a mortgage on the property, we will have them sign the necessary forms from their financial institution which we will receive in their mortgage pack.
• We send both Contracts and deposit cheque to solicitor for the vendor. We will also send Closing Requisitions and draft Purchase Deed (Deed of Transfer for registered land and Deed of Conveyance or Deed of Assignment for unregistered land) to the Vendor Solicitor.
• Return Solicitors’ Undertaking to client’s financial institution and request the loan funds.
• When returned by vendors solicitor, check replies to Closing Requisition and make any amendments they may have made to Purchase Deed, if any.
• A Closing Date is agreed, and we chase our client’s financial institution to ensure that the loan funds issue on that date.
• We prepare Family Home Protection Act Declaration and any other relevant documentation for signing by our client.
• We will order closing law searches to ensure that there are no judgement mortgages or other encumbrances registered on the property.
• We raise our fee note and insert all outlays to include registration fees, stamp duty, Law Searchers, Commissioners fees etc.
• After closing our client attends our office to collect keys, if they have not already been obtained from the auctioneer, and signs the Purchase Deed, Family Home Declaration etc, Mortgage Deed etc.
• On Closing we will discharge the stamp duty payable by our client and obtain the necessary stamp duty certificate to be attached to the executed Purchase Deed.
• The documents are then lodged in the appropriate Registry: Land Registry for registered land and Registry of Deeds for unregistered land.
• We will reply to any queries raised from the Registries if they arise.
• On completion of registration, if there is a mortgage on the property all Title Documents will be scheduled with a Certificate of Title and returned to financial institution.
• The financial institution will discharge our Solicitors’ Undertaking.
• If there is no mortgage on the property, we will schedule documents and have client attend the office to collect them and sign for them.

(ii) Outline for Purchase of Property - When we act for Purchaser:

When we get instructions from our client that they are purchasing a property the following steps are taken:

• Write to client sending out our cost note and letter of engagement.
• We open file and write to solicitors for vendor looking for Contracts and Title Documents.
• When received, we inspect Contracts and Title Documents from the Vendor Solicitors, the Surveyor’s report from our client and the Solicitor’s Mortgage Pack from our client’s lender (if a mortgage is being obtained to purchase the property) and raise any pre-Contract enquiries with the vendors solicitors.
• We will requisition any necessary pre-contract searches for explanation by the Vendor Solicitor.
• When we are satisfied that the Contracts and Title are in order our client attends our office and we advise on the content of the Contracts and the client signs the Contracts. Our client arranges at this stage to transfer to our client bank account the deposit, usually being 10% of the purchase price less any booking deposit paid to the auctioneer.
• If our client is taking a mortgage on the property, we will have them sign the necessary forms from their financial institution which we will receive in their mortgage pack.
• We send both Contracts and deposit cheque to solicitor for the vendor. We will also send Closing Requisitions and draft Purchase Deed (Deed of Transfer for registered land and Deed of Conveyance or Deed of Assignment for unregistered land) to the Vendor Solicitor.
• Return Solicitors’ Undertaking to client’s financial institution and request the loan funds.
• When returned by vendors solicitor, check replies to Closing Requisition and make any amendments they may have made to Purchase Deed, if any.
• A Closing Date is agreed, and we chase our client’s financial institution to ensure that the loan funds issue on that date.
• We prepare Family Home Protection Act Declaration and any other relevant documentation for signing by our client.
• We will order closing law searches to ensure that there are no judgement mortgages or other encumbrances registered on the property.
• We raise our fee note and insert all outlays to include registration fees, stamp duty, Law Searchers, Commissioners fees etc.
• After closing our client attends our office to collect keys, if they have not already been obtained from the auctioneer, and signs the Purchase Deed, Family Home Declaration etc, Mortgage Deed etc.
• On Closing we will discharge the stamp duty payable by our client and obtain the necessary stamp duty certificate to be attached to the executed Purchase Deed.
• The documents are then lodged in the appropriate Registry: Land Registry for registered land and Registry of Deeds for unregistered land.
• We will reply to any queries raised from the Registries if they arise.
• On completion of registration, if there is a mortgage on the property all Title Documents will be scheduled with a Certificate of Title and returned to financial institution.
• The financial institution will discharge our Solicitors’ Undertaking.
• If there is no mortgage on the property, we will schedule documents and have client attend the office to collect them and sign for them.

2. Insurance

Having signed contracts to purchase or on completion, clients will need to arrange for the necessary proper insurance cover.

3. Testaments/ Wills

We can also advise you on the drafting and execution of a Will to provide for the disposal of your new property on your death taking into account the Irish law requirements for a valid Will and issues of taxation.

4. Taxes

Rates of tax change from year to year. You should contact us for specific advice and consult the Irish tax authority site at www.revenue.ie.

• Stamp Duty - since the coming into force of the Finance Act 2010, the calculation of stamp duty has been simplified as a number of reliefs have been abolished and as the rates have been unified. The stamp duty rate for residential property is 1% on the first €1,000,000 and 2% on the excess. Since 9th October 2019, the stamp duty rate for commercial property is 7.5% of the purchase price. If the property is a new build with a purchase price of less than €1 million stamp duty is payable is 1% of the purchase price less the VAT element, and any VAT element included in the purchase price which is currently 13.5% is exempt from stamp duty.
• Capital Gains Tax (CGT) – This is a tax paid on any capital gain (profit) made on the sale of a property, that is, on the difference between the original purchase price and the sale price. The current rate is 33% on the gain. When calculating the CGT on the property certain costs can be taken into account and deducted. Some exemptions do apply such as a Vendor may be able to claim principal private residence (PPR) relief. If a Vendor is entitled to full PPR relief then no CGT would be payable.
• Local Property Tax (LPT) – Since 2013 this annual tax is payable on residential property. This tax is dependent and calculated on the value of the property. When selling or buying a property in Ireland this tax is apportioned on the Closing Date.
• Rates (taxes to local government authorities) - there are no rates on residential or agricultural property. Rates are payable on commercial properties such as office blocks, shops, car parks etc. The amount varies from county to county and is fixed on a yearly basis.
• Service Charges - many developments will have service charges payable to a management company. These vary depending on the size of the development and the budget of the management company.