Selling a property can be a lengthy process with various potential delays. This guide will help you identify and mitigate these common setbacks, ensuring a smoother sale experience. Typically, the process takes about four to five months, but unforeseen issues can cause significant delays.
Why Property Sales Can Be Slow
Buying or selling a property is often one of the most significant financial transactions in a person’s life. The process is designed to protect both the buyer and seller, incorporating safeguards against money laundering and ensuring the collection of taxes. With potentially up to 15 parties involved in a transaction, including banks, solicitors, and government agencies, the procedure can become complex. While efforts are underway to digitise some aspects, many remain paper-based, adding to the time required.
Common Delays in Property Sales
- Initiating the Process
Start by gathering necessary documents and engaging your solicitor and estate agent early.
- Title Deeds
Ensure your solicitor has the title deeds. If your property is mortgaged, the bank usually holds them.
- Planning and Building Compliance
Confirm compliance with all planning permissions and building regulations dating back to 1964.
- Road and Service Maintenance
Identify which authority is responsible for maintaining roads and services leading to your property.
- Outstanding Taxes
Ensure all property-related taxes, such as Local Property Tax and the Household Charge, are paid.
- Probate Issues
If the property is part of an estate, unresolved probate can cause delays.
- Financial Arrangements
Buyers should have financing in place, and sellers should know the redemption figure for their mortgage.
Seller’s Checklist
Personal Documentation
- Photo ID (e.g., passport, driving license)
- Personal Public Service (PPS) number
- Proof of address (e.g., utility bill or bank statement)
- Marriage or civil partnership certificate (if applicable)
- Divorce order or separation agreement (if applicable)
Building Your Team
- Appoint a solicitor early
- Choose a trusted estate agent familiar with your area
Property Title and Deeds
- Obtain title deeds from your bank or solicitor
- Disclose any rights of residence, burdens, or boundary issues
Land Registry and Mapping
- Obtain a Folio and Filed Plan from the Land Registry
- Ensure maps are compliant with requirements
Planning and Building Compliance
- Provide details of any building work and planning permissions
- Obtain a Building Energy Rating certificate
Taxes, Charges, Utilities, and Services
- Pay outstanding Local Property Taxes and other charges
- Confirm water and sewage services with Uisce Éireann
- Ensure roads are ‘taken in charge’ by your local authority
Additional Considerations
- If administering an estate, secure a Grant of Probate or Letters of Administration
- For apartments, gather information from your management company
- If renting, provide letting agreements and confirm tenancy details
More Actionable Tips
- Gather Documents Early
Collect necessary documents at the start to avoid last-minute rushes.
- Engage Professionals
Involve your solicitor and estate agent from the beginning to leverage their expertise.
- Plan for External Delays
Be aware of possible delays due to third-party processes, like planning confirmations or financial approvals.
Selling a property might seem daunting, but with preparation and the right support, you can minimise delays and move smoothly through the process.
Glossary
- Estate Agent: A professional responsible for facilitating the buying and selling of properties, providing insights into market trends and evaluating property values.
- Solicitor: A legal professional who provides advice and support during the property transaction process, ensuring all legal requirements are met.
- Probate: The legal process of validating a will, involving the resolution of any claims and the distribution of the deceased person’s estate as per their wishes.
- Title Deeds: Official legal documents outlining the ownership and legal rights related to a property.
- Grant of Probate: A court-issued document that confirms the executor’s authority to administer the deceased’s estate as stipulated in the will.
- Building Energy Rating (BER): A certificate indicating a building’s energy efficiency, required for selling properties in some jurisdictions.
- Local Property Tax: A tax levied by the local government on property ownership, typically used to fund local services and infrastructure.
- Uisce Éireann: The national water utility responsible for water and sewage services in Ireland.
- Folio and Filed Plan: Documents available from the Land Registry that confirm the legal title and boundaries of a property.
- ‘Taken in Charge’: A status whereby a local authority assumes responsibility for the maintenance of certain roads and services within their jurisdiction.
This glossary provides clarity on terms frequently used throughout the property selling process to help you navigate with confidence and understanding.
Call to Action
As you embark on your property selling journey, ensure that you are equipped with the right knowledge and support. Reach out to our expert property solicitors today to begin organising your documents and addressing potential issues. By acting promptly and proactively, you can streamline your property transaction, avoid unnecessary delays, and achieve your goals efficiently. For further assistance and resources, contact our property team today.
