How is the process of buying a new house? Paying money and fees

LovelyDublin

Hi everyone,

I'm in the process of buying a new house! Congrats to me 😅 I have a few questions:

When should I pay the deposit and other legal and solicitor fees? I've paid 5k as my booking deposit and they said I should pay 25,000 on my contract (they said I can use HTP).

As the house will be completed in June-July, I'm wondering when should I pay the remaining costs.

Padre_Pio

https://www.boards.ie/discussion/2058282401/how-is-the-process-of-buying-a-new-house-paying-money-and-fees

Your solicitor will guide you through all of this.

Usually you pay the balance around the time you sign contracts. Likely around the time where you would order your kitchen or anything custom.

LovelyDublin

Thanks Padre.

I just received an email from my solicitor about the process but sometimes it's not clear.

Padre_Pio

https://www.boards.ie/discussion/comment/120196369#Comment_120196369

I know what you mean. You would think that such a common procedure would have an organised process.

Keep tight with your bank, your solicitor and the EA. There's a whole lot of silly things that get missed. My mortgage application was accidentally switched from a new-build to a self build staged mortgage. Only found out 2 weeks before drawdown.

LovelyDublin

https://www.boards.ie/discussion/comment/120196911#Comment_120196911

It's very bad!

Until now I was sending emails to asking question from bank and my solicitor but it seems it's better to talk to them by phone. You can save time.