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Newbie buyer question

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  • 17-09-2017 11:26pm
    #1
    kaji
    Registered Users Posts: 646 ✭✭✭


    This might seem like a stupid question, but I am looking to buying a house and want to know- if I view a house and like it, by putting an offer in... If the seller accepts my offer, am I legally bound to go through with it or do I still have time to consider, etc? I just want to be sure.


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    #2
    wench
    Registered Users Posts: 1,645 ✭✭✭wench


    If you buy at auction, you are committed to completing the sale.
    If it a normal private treaty sale then no, until contracts are signed either side may pull out.


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    #3
    kaji
    Registered Users Posts: 646 ✭✭✭kaji


    Thank you. Yes, sorry, I meant buying in a normal treaty sale.

    That's good to know so, because I wanted to view a house next week and want to know what the next step is in the process.


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    #4
    LirW
    Registered Users Posts: 4,825 ✭✭✭LirW


    You put a booking deposit down once your offer is accepted and you're officially Sale agreed by then. Deposit is refundable until contracts are signed (where you pay the full 10% of the deposit). From that point you're committed to go through with the sale.


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