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Contracts

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  • 22-12-2014 10:54pm
    #1
    Reality tv
    Registered Users Posts: 31 ✭


    Hi all,

    I'm due to sign house purchase contracts soon and I've read through them carefully . I'm wondering is there anything I should be looking out for/ weary of or will the solicitor have raised any concerns so to speak- eg. Property tax up to date/management company funds etc. Also with payment of deposit- what are peoples' experiences? Is it generally a bank draft or will a personal cheque suffice?
    Can anyone advise on what happens in the time after contracts are signed and sale closes?
    Thanks for any input!


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    #2
    campingcarist
    Registered Users Posts: 337 ✭✭campingcarist


    Your solicitor should sort out any legal queries and discuss them with you. That's what he is there for.

    However, he will not know anything about the property condition, interior exterior or structurally. It is up to you to have this checked out - if you wish.

    As regards the management company, in my opinion (and the solicitor will probably advise you) you should check that the MC has sufficient funds to cover an emergency. If the MC have little funds, you may be required to pay a amount (which could be in the 1000s) to cover emergency work.

    Last year, I withdrew from several properties because the MC had little money in reserve. Much of the problem comes from owners who do not pay their annual fees.

    Any deposit and remaining purchase price are usually paid via bank transfer.


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