A Guide to Selling Your Property

When you secure a purchaser, you need to be in a position to issue contracts immediately. It is also worth remembering that you will not always sell to the buyer who offers the most money: it can matter whether they are a first-time buyer, whether they have to sell their own property as part of a chain, and whether they are paying cash rather than borrowing.

The steps to selling a property

1. Appoint a solicitor

   Contact us as soon as you plan to sell, so we can take up your title documents, which your bank will hold if there is a mortgage on the property. Having them in hand lets us draft a contract for sale in advance, so there is no delay once you find a purchaser. Tell us about any extensions or alterations you have made: depending on what was done, an architect or engineer may need to furnish a certificate or opinion on compliance with planning permission and building regulations.

2. Decide how to sell

   You can sell the property directly yourself, or through an estate agent, who will sell by private treaty or by auction, and can advise which suits your property. If you sell at auction you can set a reserve price, the minimum you are willing to accept, which acts as a safeguard.

3. Obtain a BER certificate

   Since 1 January 2009 a Building Energy Rating certificate has been compulsory for all homes and commercial properties being sold or rented, whatever the age of the building. Both the seller and the agent must provide it to a prospective purchaser. A BER certificate is valid for up to ten years, and a new one is needed if changes to the building affect its rating. Assessments are carried out by registered BER assessors.

4. Preparing the contract for sale

   We draft the contract once we have your title documents. It sets out the details of the parties, the purchase price and deposit, the closing date, and the list of title and planning documents, followed by a number of standard conditions we will go through with you.

5. Sale agreed

   The estate agent takes a booking deposit from the purchaser, refundable until contracts are signed by both sides, and issues a Sales Advice Notice to everybody involved. It sets out the parties, the sale price, the closing date and any conditions of sale, such as contents included in the price or a condition that the purchaser obtain loan approval. When you receive your copy, check that we have received ours.

6. Contracts are issued

   The contract for sale and copy title documents go to the purchaser's solicitor. It is common for them to raise queries on receipt; we deal with those on your behalf.

7. Exchange of contracts

   Once the purchaser and their solicitor are satisfied, the contracts and deposit come back to us. The deposit is 10% of the purchase price, less any booking deposit already paid to the estate agent. You attend our office to sign the contract in duplicate and one part is returned. This creates a binding agreement to complete the sale.

8. Requisitions on title

   The purchaser's solicitor drafts the deed transferring the property into the purchaser's name and raises Requisitions on Title: 44 standard queries that go well beyond title alone, covering matters such as services, capital gains tax and rights over the property. Their purpose is to give the purchaser the information promised under the contract for sale.

9. Closing arrangements

   Once the queries are satisfied, a closing date and time is agreed. If you have a mortgage we request up-to-date redemption figures. If you owe more on the mortgage than the sale price, contact us before you sign contracts so that arrangements can be made with your bank about the balance. We prepare a breakdown of accounts, and you attend to sign the closing documents beforehand.

10. Closing and handing over the keys

    Completion takes place in our offices, and neither you nor the purchaser needs to attend. Make sure the property has been cleared of everything except the contents agreed to be left as part of the sale. Once the purchaser's solicitor is happy with the title documents and furnishes the balance of the purchase price, we release the keys. If there is a mortgage it is redeemed immediately out of the sale funds.

Do I have to pay capital gains tax?

Capital gains tax is charged on the gain made on the disposal of an asset, and is payable by the person making the disposal. The gain is the difference between what you paid for the property and what you sold it for. If the property was your principal private residence for the entire period of ownership, you are not liable; if you are selling a property that is not your main residence, you may be. Put simply: if you buy a house that is not your principal private residence for €100,000 and later sell it for €200,000, tax is payable on that €100,000 gain. Ask us for the rate that currently applies.

Local property tax

Local property tax is an annual self-assessed tax on the market value of residential property. If you own a residential property in the State, including a rental property, you are liable to pay it: the charge falls on the owner rather than the tenant, unless the tenant holds a lease of more than 20 years, an exclusive right of residence for life or for 20 years or more, or a life interest. A receipt for local property tax must be furnished to the purchaser when you sell.

What does selling a property cost?

Solicitor's fees

Get an instant quote for your sale at quickmove.ie (see below).

Auctioneer's fees

Generally calculated as a percentage, and agreed in advance.

Bank charges

If there is a mortgage, your bank holds your title deeds and charges a fee to release them to your solicitor. The mortgage is redeemed out of the sale proceeds.

Service charge

On an apartment or commercial property, make sure service charges are paid up to date and that you have the receipt.

Rates

On a commercial property, make sure you have a receipt confirming rates are paid up to date.

Capital gains tax

May apply where the property is not your principal private residence.

Local property tax

Must be paid up to date, with a receipt for the purchaser.

What we will need from you

• Your name, address, telephone number and email address, and those of any co-owner
• Marital, civil partnership or cohabitee status of each seller, with the marriage or civil partnership certificate if applicable
• A death certificate, if a current owner or someone with an interest in the property has died
• PPS number and tax type for each seller
• The address of the property and the sale price
• Contact details for the purchaser, the purchaser's solicitor and the estate agent
• The amount of any booking deposit paid to the estate agent
• Details of contents included in the sale, and the division of the price between the house and contents
• Other outgoings due on the property, such as a group water scheme payment or service charge
• The proposed closing date, and whether the property is a principal residence or an investment property