Legally Speaking

Selling your home

There are many ways to sell your home, either personally or through an auctioneer on the open market, by auction or by private treaty. No matter what method you use, it is essential that you arrange a visit to your solicitor to notify him/her of your plans to sell the house. Your solicitor will be able to advise you at this early stage on how to ensure the sale is finalised as quickly as possible, how to avoid delays, how to co-ordinate the sale of your house with the purchase of your new home and the likely costs involved which will help you to plan the budget for your move.

Tax implications of selling your home

You should note that if the house which you are selling is your principal private residence in which you have resided since you purchased it and the house does not include any commercial aspect, generally, there is no capital gains tax payable. If you have not lived in the house and/or it comprises partly of commercial premises, your solicitor will advise you regarding any potential capital gains tax liability and any exemptions which may be available to you. Of course, the ultimate assessment of any tax liability will rest with the Revenue Commissioners.

Obtaining your title deeds

Even before you place the house on the market, some preliminary work can be done in order to avoid delays at a later stage. Most houses nowadays have mortgages on them and you will need to sign an Authority allowing your solicitor to obtain your title deeds from your bank. This can take about two to three weeks so it is important to do this as early as possible.

Planning documents

Once your solicitor receives the title deeds, he/she will check them to ensure that there are no defects which may cause a delay in the sale. Your solicitor will also inspect the planning documents relating to your house. Any house built after the 1st of October 1964 requires planning permission. If there has been any development or alterations to the house after that date, a similar approval will be required. You will also need an engineer’s certificate confirming that all of the conditions of the planning permission and the building regulations have been complied with. If the development carried out was exempt from planning permission, your engineer will have to confirm this in writing. It is essential that the planning documents are in order before you agree the sale of the house so as to avoid any potential purchaser withdrawing from the sale.

Closing Date

Once you have agreed the sale of your house, your Auctioneer will forward the purchaser’s details to your solicitor. You should again contact your solicitor to confirm the sale details and to discuss a suitable closing date. This is the date on which you must move out of your house, the house is emptied and ready for its new owners.

Kieran Griffin & Co. Solicitors.

Exchange House, Main Street,
Ballincollig, Co. Cork.
Tel: 021 . 4214639 Fax: 021 . 4214643
email: kieran@kgs.ie