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| Frequently Asked Questions |
THE CONTRACT |
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| Do I sign the contract before checking it with a solicitor? |
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The contract is not binding for the buyer; therefore you are not committed to paying the total amount if the contract is signed. If you fail to make any of the stage payments you would be in breach of contract and would lose your deposit. As the deposit is just €3,000 we recommend that you sign a contract because the deposit is refundable if the builder does not have all the legal requirements in place. |
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| PAYMENTS & EXPENSES |
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| What can I expect the stage payments to be? |
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New builds: |
Resales: |
€3,000 on signing the contract
25% - 30 days
25% - 90 days
Balance on completion |
€3,000 on signing the contract
10% - 30 days
Balance on completion |
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| What expenses are incurred when buying a property? |
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Example: |
Price of the property
Tax @ 7%
Stamp Duty Tax @ 1%
Notary's Fee
Land Registry
Utilities
Solicitor's Fees @ 1%
Total Price |
200,000€
14,000€
2,000€
1,000€
300€
300€
2,000€
219,600€ |
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| When do I pay the expenses? |
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| The tax, the land registry and the notary on completion. The solicitor’s fee is paid 50% at the time of hiring our services and 50% on completion. |
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| What are the total costs involved in getting a mortgage? |
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| The setting-up costs are approximately 3% - 4% of the amount borrowed. |
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| Will I be charged commission to transfer my pension? |
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| It is against EU banking regulations for you to be charged commission on pension transfers. |
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