All fees and outlays required to complete a property sale are payable on closing, therefore it is essential that you would include them in your property sale budget.
Typical fees and outlays that arise in addition to a solicitor’s fees on a sale include
- Lender Fees – if your property is mortgaged, lenders typically charge a fee for taking up title deeds, and for removing mortgages from title. Each lender will have it’s own schedule of fees.
- Land Registry / Registry of Deeds Registration fees – if title to the property needs to be updated, it may be necessary to register a Deed -e.g. remove a mortgage from title – in advance of a sale. If there is a mortgage on title the vendor must pay the registration fee payable to have it removed.
- Surveyor’s / Architect’s fees – if there have been any structural alterations to the property – e.g. an extension, attic conversion or skylight – a certificate from a Surveyor / Architect will be required to confirm that any structural alteration complies with, or is exempt from, planning permission.
- Map – if the property is registered in the Registry of Deeds a Land Registry compliant map identifying the property will be required.
- BER Certificate – a current Energy Rating Certificate must be provided by vendors of residential property. Get more information from Sustainable Energy Authority of Ireland (SEAI) here http://www.seai.ie/
- Local Property Tax – on the closing of a sale the LPT for the calendar year is apportioned between the vendor and the purchaser – this means that the vendor must pay it in advance and the purchaser must refund the amount of LPT due from the date of sale to the end of the calendar year to the vendor. Get more information from the Revenue Commissioners about LPT here http://www.revenue.ie/en/tax/lpt/
- Apartment / Managed Estate Service fee – if your sale property is in a managed estate the Service Fee for the accounting year is apportioned between the vendor and the purchaser – this means that the vendor must pay it in advance and the purchaser must refund the amount of Service Fee due from the date of sale to the end of the Management Company accounting year to the vendor.
- Declaration fees – for family law declarations required on closing
- Miscellaneous outlays – e.g. registered post, couriers banking fees.