Looking to sell

mayoman ngalway

Hello all,

My wife and I are starting to look at selling our house in Galway city. As this is our first house we are not sure of the steps needed to follow.

Do we talk to our bank first or the auctioer, or our solicitor.

Houses have sold in the area we currently live in in and around what we had paid when we bought back in 2005, so will have in and around 50k above what is left on our 40 year mortgage, currently less then 30 years to go!!.

Any advice welcome.
Cheers

Rew

You need a solisitor and and estate agent. Both will be closed for the next week id say.

You need to figure out how much a sale will cost you. Estate agents usually look for about 1% + VAT + advertising fees. Solicitors either 1% or a fixed fee. Id find one on a fixed fee if possible.

Shop around for both as its a lot of money you will be forking out!

Your Solicitors will advise the paper work that you will need but you will generally need:

• Proof of ID
• Proof of PPS
• Copy of Marriage cert
• Proof of waste payment
• Assuming you have always lived there an exemption cert for NPPR (apply to the CC for that ASAP)
• Proof of payment of LPT for all of 2016 (you will be refunded what ever balance of 2016 is by the buyer when closing)
• If the sale price is higher then the band you declared for LPT you will need to apply for clearance from the revenue
• If you have done any work to the house like extensions or porches you will need an an engineers letter to say its within planning or is planing exempt
• Proof of payment of Water Charges (not strictly necessary I believe but could delay things)
• BER Cert and Report

Getting all that together isn't all that hard but takes some time start now and it will make life much easier and minimise the time between sale agreed and closing. Be orgainsied scan it all, put the originals together in a folder along with other paper work you might have.

mayoman ngalway

mayoman ngalway wrote: »

..........

Houses have sold in the area we currently live in in and around what we had paid when we bought back in 2005, ...........

Great to see this

Solicitor first port of call but if you plan on buying before this house sells you'll need the bank on side of course.

mayoman ngalway

Thanks for both the replys.

We have a solicitor from when we bought the house so will get on to him.

Yes we were lucky. We bought it before things went really mad, was offered 60k extra to sell after 6 months but where would we have lived then!!😆😆😆.

Thanks again.

TheDriver

You only need a solicitor once its sale agreed. Ask a few ea around and see which gives u best vibe. Don't always go with one that values it most

Rew

TheDriver wrote: »

You only need a solicitor once its sale agreed. Ask a few ea around and see which gives u best vibe. Don't always go with one that values it most

My advice would be to front load everything that was when he does go sale agreed the sale should progress rapidly. If you wait till you go SA to get a solicitor you add 2 weeks of shopping around to the time to close.

Smiley11

Solicitor needs to write to the bank to release the deeds. This needs to be done with your written consent so if I were you, I'd engage the solicitor as soon as you're sure you're going to market. Banks losing deeds happens & the last thing you want is to irritate a potential buyer over something that could have been avoided with early intervention. Plus all of these things take time so get ahead of the game.

I just got a letter from my solicitor requesting most of the above list as the buyers solicitor has looked for them. I had to apply for retention planning for existing additions, which will be granted but slows up the process as we won't have it provisionally for another 3 weeks & another 4 weeks for it to be formally approved. There are little things you can do preemptively to avoid headaches & ensure as smooth a sale as possible. Good luck!

riclad

Talk to your bank first,
can you afford to pay off 50k,
The bank can stop the sale going forward,
if they cant be sure of getting paid the 50k,
or maybe they,ll give you another loan to cover the 50k.
Depends on you income ,salary .
It,s hard to be sure how much you,ll get Exactly ,until you have the house for sale .
And you get a few bids on the house.

Gumbo

riclad wrote: »

Talk to your bank first,
can you afford to pay off 50k,
The bank can stop the sale going forward,
if they cant be sure of getting paid the 50k,
or maybe they,ll give you another loan to cover the 50k.
Depends on you income ,salary .
It,s hard to be sure how much you,ll get Exactly ,until you have the house for sale .
And you get a few bids on the house.

They have 50k positive equity.