The Basic Legal Steps in a Property Purchase

Property Solicitors Dalkey
  • We will obtain title deeds from client or lending institution. The client’s authority is required to obtain deeds.
  • We will then investigate the Title of the property and then draft the contract in duplicate and send the contract and copy title documents to the purchaser’s solicitor. The letter is marked “subject to contract/contract denied”.
  • If amendments are required the vendor’s solicitor must approve these.
  • We must Agree/Disagree with proposed amendments to draft contract.
  • We will check that the contract is unchanged or contains only the agreed amendments. We must have the contract executed in duplicate by the vendor once his solicitor has explained the terms. If the property is a family home not in joint names then the spouse’s prior consent must be endorsed on the contract prior to its execution by the vendor. His solicitor must hold the  deposit as stakeholder pending completion.
  • We will return one contract to purchaser’s solicitor.
  • On the basis of vendor’s instructions we must reply to objections (if any) and requisitions on title.
  • We will return objections (if any) and requisitions with replies to the purchaser’s solicitor.
  • Once received from the purchasers’ solicitor, we must approve the draft deed with/without amendment.
  • We will draft all completion documents
  • The solicitor must have deed and all completion documentation including declarations properly executed by the vendor and the vendor’s spouse.
  • We will arrange a closing date with the purchasers solicitor.
  • At closing we will explain all Acts on searches. We will hand the purchaser’s solicitor the executed deed and all completion documentation and keys in exchange for bank draft for the balance of the purchase monies.
  • The solicitor will close the sale, comply with undertakings, Prepare Accounts. Obtain payment, Discharge mortgage (if any) and Pay net proceeds to vendor.
  • We will obtain release of all our undertakings and close the file.