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What should I know when buying a second hand house - first time buyers

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  • 25-10-2013 6:37pm
    #1
    ani_mal
    Registered Users Posts: 321 ✭✭


    Hi guys I'm looking for advice what we are first time buyers.
    - What taxes fees I should expect to pay (what is the procentage)
    - What surveyor do I need (do I need them at all? and are they accountable for doing bad work)
    - Do I need solicitor (what for?)
    - What documents should I ask for, from previous owner

    what any other things should we be looking for/aware of

    thank you


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    #2
    L1011
    Registered Users Posts: 68,828 ✭✭✭✭L1011


    1% stamp duty, land registry fees.

    You need a solicitor, check around for prices, most charge a flat fee + all their direct costs. They will handle all the documents.


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    #3
    Victor
    Registered Users Posts: 78,414 ✭✭✭✭Victor


    ani_mal wrote: »
    - What taxes fees I should expect to pay (what is the procentage)
    You will pay 1% stamp duty on the transaction, any property taxes outstanding will need to be paid also. The solicitor will also pay stamp duty on some of the documents.
    ani_mal wrote: »
    - What surveyor do I need (do I need them at all? and are they accountable for doing bad work)
    Preferably a building surveyor. If there are obvious structural problems, a structural engineer may be more suited.

    They are accountable for their work, but that is only really useful if they have insurance. However, they can't do magic and no vendor will let them do opening up work.
    ani_mal wrote: »
    - Do I need solicitor (what for?)
    Only solicitors can do conveyances. Solicitors fees usually exclude some expenses, which you will also need to pay. Make sure the solicitor does an estimate of what the total bill will be.
    ani_mal wrote: »
    - What documents should I ask for, from previous wner
    Planning permission and as-built drawings, details of any equipment, manuals, etc.


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    #4
    ani_mal
    Registered Users Posts: 321 ✭✭ani_mal


    Victor wrote: »
    You will pay 1% stamp duty on the transaction, any property taxes outstanding will need to be paid also. The solicitor will also pay stamp duty on some of the documents.
    Preferably a building surveyor. If there are obvious structural problems, a structural engineer may be more suited.

    They are accountable for their work, but that is only really useful if they have insurance. However, they can't do magic and no vendor will let them do opening up work.
    Only solicitors can do conveyances. Solicitors fees usually exclude some expenses, which you will also need to pay. Make sure the solicitor does an estimate of what the total bill will be.
    Planning permission and as-built drawings, details of any equipment, manuals, etc.

    Thank you for the answer.


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    #5
    riclad
    Registered Users Posts: 8,184 ✭✭✭riclad


    GET a full structural survey if the house is more than 30 years old,
    make sure he has insurance.
    They examine all the property,
    including ,the attic ,roof,
    AND they,ll give you an estimate ,cost of repairs ,if theres items that need fixing, eg dry rot, broken roof tiles.
    Pay attention to the boundarys of the property ,as in older houses ,with back gardens ,these
    are not always obvious.


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    #6
    Trish56
    Registered Users Posts: 1,256 ✭✭✭Trish56


    OP I would recommend that you ask if there has been any claims for flooding on their insurance policy.


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    #7
    PixelTrawler
    Registered Users Posts: 2,299 ✭✭✭PixelTrawler


    We're buying a house thats under 20 years old and we opted for a full structural survey. I would recommend this on any property being purchased, never mind over 30 years old.

    Go to a registered company with Indemnity Insurance.

    You get a 40-60 page report on the property outlining visible issues. I stress visible because they don't open up the walls to look etc. It has proven very useful to us. They will also check for boundary issues and they made a number of recommendations to us to go to the seller that were useful.


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