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Title Deeds if Selling a Property

Posted: 05 Jun 2018 15:40
by mevz
Hi All,

A question if anyone could help regarding Title Deeds and the selling of property.

We have been informed that title deeds are now available for our property ( we are resident in the UK , so would instruct a local lawyer to act on our behalf ).

We are however seriously considering selling our property, and am not sure whether it is worthwhile incurring the time and expenditure in obtaining the Title Deeds and then sell, or simply just head straight to trying to sell on the basis that Title Deeds are available.

We would like to avoid the more costly option.
Could anyone offer any guidance, or from experience which would be the better route to undertake ?

Thanks in advance,

Mevz

Re: Title Deeds if Selling a Property

Posted: 06 Jun 2018 08:57
by Nigel Howarth
Hi mevz

If you get your deeds now, you can work out what your Property Transfer Fees are likely to be by using the on-line calculator provided by the Department of Lands & Surveys.

If you don't get your deeds your purchaser can use an assignment agreement when they purchase. The fee is 0.5% on the sale price stated in the assignment agreement or 0.5% of the sale price stated in your purchase agreement when you bought the property, whichever of the two amounts is the higher. The minimum fee is €50 and the maximum fee is €3,000.

However, now that people are aware of the problems of buying a property without their all-important Title Deeds it will prove more difficult to find someone willing to buy.

Regards,

Re: Title Deeds if Selling a Property

Posted: 06 Jun 2018 14:29
by Pantheman
Nigel Howarth wrote:
06 Jun 2018 08:57
Hi mevz

If you get your deeds now, you can work out what your Property Transfer Fees are likely to be by using the on-line calculator provided by the Department of Lands & Surveys.
If you paid vat when you bought you have no transfer fees to pay, if not you get 50% off.

Better to have the deeds upon sale, you can always add the cost to the price if you wished, but better with than without.