True cost of buying new home??

RandomPunter82

Hi all,

i have just made an offer for a 18 year old house for around €175,000. im trying to figure out the true cost to me if my offer was accepted and if i was actually to buy! how much extra would i require? -solicitors, stamp duty, etc, any advice would be great, thanks!

riclad

Average cost of conveyance house legal fees ,1100 euro , stamp duty `1 percent = 2800 euros approx .Different lawyers charge different fees , most banks require you to get house insurance, and maybe mortgage protection insurance, if you are getting a loan .
Your solicitor should tell you all this anyway before you sign the final papers to transfer the property,ie to complete the transaction.You,ll probably have to pay a deposit to estate agent via your lawyer if the offer is accepted.
see here http://www.daft.ie/content/stampduty.daft

Mightymouse vs Dangermouse

hey, i can give ou a rough idea.
engineer report is 350 - 500. If its in cork you are i seem to have gotten a pretty decent one.
solictors 1700-2000, thats if everyting goes straight forward.
1 percent of house price is stamp duty, so il let you do the maths.
Tip for you, before you get an engineers report ask the solictor to look at the boudary maps to see if everything is in order, then get your engineer.
I got engineers report done, then solictor told me boundaries were wrong. So now if i dont purchase the house im down 400 ish due to cost of engineers report!
anyway, best of luck

ted1

Mortgage less relief + house insurance+ life assurance. About 25 each.

shiv82

Anyone know of any good engineers in Mallow/Cork/North Cork area to do engineers report before buying a house?
Also, any idea of cost to get one done & what does it involve?

riclad

I presume you mean a full structural survey, he examines building for
faults, eg dry rot,dampness ,work that needs carrying out,
http://www.ourproperty.co.uk/guides/surveys_explained.html ,minor major faults.
IT should find anything wrong with the building.bad insulation, subsidence etc
if house is less than 15 years old ,i would,nt bother with one,
unless you suspect pyrite problem.
i think its 400 euro plus, price may vary,with size of house.
no harm to have a look in golden pages cork surveyors
http://www.home.co.uk/guides/buying/building_survey.htm

Citygirl1

riclad wrote: »

I presume you mean a full structural survey, he examines building for
faults, eg dry rot,dampness ,work that needs carrying out,
http://www.ourproperty.co.uk/guides/surveys_explained.html ,minor major faults.
IT should find anything wrong with the building.bad insulation, subsidence etc
if house is less than 15 years old ,i would,nt bother with one,
unless you suspect pyrite problem.
i think its 400 euro plus, price may vary,with size of house.
no harm to have a look in golden pages cork surveyors
http://www.home.co.uk/guides/buying/building_survey.htm

I wouldn't agree with this suggestion. You are about to make the biggest purchase of your life, and mortgage yourself for years. There may be problems with any property which are apparent only to the more experienced eye. Why risk missing this for the sake of a few hundred euro?

There seems to have been a lot of badly build properties thrown up in the last 10/15 (celtic tiger) years. Also, it would be hard to be certain about pyrite without having it checked.

riclad

You can put in bid, with clause ,my offer will be withdrawn, cancelled if a survey finds major physical,structural problems, eg pyrite ,subsidence,dry rot,bad or incorrectly fitted insulation,
ie something that,ll cost more than 3k to fix.And i,ll get a full refund of my deposit.
IF offer accepted order survey if you think its worth 400plus euros.
OF course theres loads of houses,apartments built with dodgey insulation,or fireproofing in the last ten years.
MY friend got survey ,on old house ,terraced, it came back,5k repairs needed, dry rot in one wall, he went ahead and bought the house.
HE knew it was 70 year old house,would need some renovation, it also needed
rewiring .
i think you can get a solicitor for 1200 if you ask around for a quote,18 year old house ,
easy enough to process,probably has 1 or 2 previous owners.

messinkiapina

Does it make any difference to the solicitor costs if you are paying for the house with cash? I imagine not having to deal with a bank/mortgage would simplify their task somewhat?

riclad

IT makes a small difference ,ie solicitor doesnt have to check bank documents, or write to bank, A soliticitor has to check ,that all deeds are in order, this involves checking transfers of ownership documents,
he checks is their any bills ,money owed on bank,eg gas,esb bills,
he checks things like ground rent,boundary map.
HE basically organises the legal transfer of ownership from the owner to the buyer,ie you, and he has to make sure all taxes are paid ie stamp duty,esb bill and the previous owner has paid all bills.

Some old propertys have ground rent,or a 1000 year lease,etc i dont think
that applys in your case.
if its an ex council house there may be abit more legal work involved.
IF asking for quote state, its a cash sale, no mortgage involved, state is it private
or a council house,whichever, house is 18 years old .