legal fees for selling and buying site

Sligoboy21

Hi Just wondering does anybody have rough cost of legal fees for selling and for buying a site. I want to pay for sellers cost plus my own.thanks

Calahonda52

I would think 2.5k each side plus VAT, assuming no wrinkles in title such as complicated leasehold interests, rights of way, existing debts and if the plot is ready to go maps wise.
Will need independent advice for both buyer and seller

893bet

If inter family. Father to son etc then 2-2.5k should cover including stamp duty.

Sligoboy21

thanks all. yes its father son and site is agricultural land so value is only 2500e.

Calahonda52

Sligoboy21 wrote: »

thanks all. yes its father son and site is agricultural land so value is only 2500e.

Revenue may query that valuation so maybe rethink it because if they do and its a father and son relationship they may start looking in places you don't need them to look.

There is afaik, reduced stamp duty between family but don't be greedy.

Are u buying it or is it being gifted

893bet

Sligoboy21 wrote: »

thanks all. yes its father son and site is agricultural land so value is only 2500e.

It's a site. Value it accordingly. 30k? Stamp duty of 600?

Do you really want the revenue looking into your affairs or your dads.....

Sligoboy21

Calahonda52 wrote: »

Revenue may query that valuation so maybe rethink it because if they do and its a father and son relationship they may start looking in places you don't need them to look.

There is afaik, reduced stamp duty between family but don't be greedy.

Are u buying it or is it being gifted

its been gifted. local land aroun d our area has sold recently between 2k-2500k per acre.

Sligoboy21

893bet wrote: »

It's a site. Value it accordingly. 30k? Stamp duty of 600?

Do you really want the revenue looking into your affairs or your dads.....

I thought stamp duty was 1 percent of value. is it different for sites. I saw on revenue website that agri land for site is calculated included cost build land. this is the example it gives:Example
Date of instrument: 6 May 2015
Site cost: €50,000
Building cost: €165,000
Aggregate cost: €215,000
Stamp duty payable: €2150 (i.e. €215,000 @ 1%)

Where a site is purchased and there is no connected agreement to build a house or apartment, the transfer of the site is chargeable at the appropriate rate for non-residential property.

Example
Date of instrument: 15 April 2015
Site cost:: €50,000
Stamp duty payable: €1,000 (i.e. €50,000 @ 2%)

893bet

Per your second example rate is 2%.

Sligoboy21

893bet wrote: »

Per your second example rate is 2%.

Yes but we do plan on building

893bet

Sligoboy21 wrote: »

Yes but we do plan on building

As said the rate will be 2% at the time of transfer.