When deciding to sell a property, it is important to instruct your solicitor early and to consider a number of matters. Briefly, these matters include the following:
- Planning: Is all documentation to confirm that planning permission is complied with available? Since you purchased, have you made any alterations to the property?
- Is the Local Property Tax paid up to date? The property may have been valued in 2013 for the purposes of LPT at value which was correct at the time but is now much less than the sale price. Depending on the circumstances, clearance may be applied for and obtained from Revenue in respect of this valuation. Your solicitor can advise you on the requirements.
- The Non Principal Private Residence (“NPPR”) charge was a payment of €200.00 which applied to some properties between the years of 2009 to 2013. The payments due and penalties accruing remain a charge on the property and therefore when selling a property, a vendor must provide either an original Certificate of Exemption or Certificate of Compliance in respect of this charge from the relevant Local Authority. Therefore, you should verify if this has been paid for the relevant years, and whether a certificate of compliance has been obtained evidencing this. If it did not apply to your property, a certificate of exemption should be applied for to your local authority as soon as possible.
- Is the receipt for the Household Charge to hand? This was a charge of €100.00 which applied in 2012.
- Is the Certificate of Registration in respect of the Septic Tank to hand?
- Have you obtained a Building Energy Rating Certificate?
- Are any contents to be included in the sale? If no agreement has been reached in respect of any of the contents, you are obliged to provide vacant possession, and remove all items from the property.
- If you have a mortgage, do you know approximately how much is owing on it? On your authority, your solicitor will take up the title deeds from the lending institution to review the title and to draft the contract for sale. On completion, the amount owing to the lending institution will be paid back from the proceeds of sale to redeem the mortgage, and the purchaser’s solicitor will be furnished with evidence of this.
Obtaining the above information and accumulating the paperwork involved at an early stage of a proposed sale will lead to a smooth closing.
If you have any queries in relation to property transactions please do not hesitate to contact a member of our property department.
09 March 2015