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The buying process
From arranging the finance right through to moving into your new home this step by step guide gives a brief outline of the different stages in the process.
Arrange finance
Before you start looking for a new home you should work out your price range. The best way to do this is to apply for a mortgage and receive pre-approval in principle. If you are selling your existing home, you and your lender will want to know what it is worth in the current market. Ask an estate agent for a valuation. You can search through our members to find an estate agent in your area.
Search
Before you begin the search you should have a good idea of what you are looking for. Our buyer's wish list will help you to identify and prioritise the features you want in your new home. Search our database for properties meeting your requirements. Arrange to view many properties even if some do not exactly match your requirements. You will learn from each viewing and get a better understanding of what you like. For tips on viewing properties check out our viewings guides.
When to sell?
If you are selling your existing home, the buying and selling should take place around the same time. However, the area you live in could influence when you place your home on the market. If there is strong demand for homes in your area and you are confident that you will have little trouble in finding a buyer, you may want to buy before you sell. Alternatively, if similar homes in your area have proved difficult to sell, you may be wise to start the selling process before you buy. For tips on selling your home check out our selling guides.
Choose a solicitor
The legal process of buying or selling a property is called conveyancing. It is a complicated process and unless you have a legal background and plenty of time on your hands you will need to appoint a solicitor. You can search our directory for a solicitor in your area. For more information on conveyancing check out our legal guide.
Make an offer
When you find your dream home you will need to act quickly by making an offer to the seller's estate agent. In the current housing market the seller may receive a number of offers, and if your initial offer is refused you will have to consider whether you want to make a higher offer. Make sure to mention any points in your favour, for example your ability to move quickly.
All offers should be made "subject to contract and satisfactory survey". If the offer is accepted you will be asked for a booking deposit of €3,809. You cannot afford to sit back at this stage the sale does not become legally binding until contracts are exchanged, and there is nothing to stop the seller from accepting a higher offer prior to the exchange of contracts. Ask the seller to withdraw the property from the market and instruct your solicitor to proceed with the conveyancing.
Arrange survey
Mortgage lenders will insist on a valuation of the property before offering you a mortgage. However, you or your lender may want a more detailed survey carried out particularly if is an older property. For more information see our survey guide.
Exchange contracts
The exchange of contracts happens when the solicitors for both parties send a copy of the signed contract to each other. When the exchange of contracts takes place both parties have a legal commitment to complete the sale. At this stage you will have to pay the seller a non-refundable deposit of 10% of the purchase price.
Before you exchange contracts you should be satisfied that:
- All legal searches and enquiries have been completed
- The surveyors report has been completed
- The mortgage offer has been received in writing
- The terms and completion date have been agreed
- You have read and understood the terms
Complete and Move in
On the completion date specified in the contract the balance of the purchase price must be paid to the seller's solicitor. You may then collect the keys and move into your new home. For more information and tips see our moving guides.
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