There are necessary fees attached to the process of selling a property. Along with the costs applied by estate agents, your solicitor will also need to collect necessary charges as applied by Irish property law.
All of this needs to be carefully considered when it comes to selling your home.
If you are selling a property as part of an estate, you also need to be aware of the solicitor fees for selling a house in Ireland. Here’s what to expect.
A Guide to Conveyancing
Conveyancing is a legal procedure which transfers ownership of a property from the seller to the buyer. There are fees involved here for both parties, so you need to keep this in mind if you are selling and buying a house at the same time in Ireland.
There are no set charges involved here, so the sums will vary between property lawyers. As a general rule, the fees for sellers can range between 1,000 and 2,500 euros.
Conveyancing fees can be applied in two formats:
- A flat fee as confirmed by your solicitor
- A percentage of the overall purchase price
The flat fee is easier to follow and it won’t change. The percentage needs to be calculated and will obviously fluctuate depending on the final sale price. The final figure that you need to pay will very much depend on the solicitor and the cost of the home.
In cases where a percentage fee is charged, this may typically range from 1% to 2%. So, for example, for a property costing 250,000 euros with a 1% conveyancing charge, the sum required will be 2,500 euros.
Another point to keep in mind in terms of solicitor fees for selling a house relates to VAT and whether the figures are inclusive or whether or not you need to add 23% for Value Added Tax.
To establish your exact outlay in terms of conveyancing fees, it’s best to speak to a solicitor as soon as you receive a valuation for your property.
Will I Pay Capital Gains Tax on My Property Sale?
The majority of house sales will not incur capital gains tax under Irish property law, but this charge can be levied in certain circumstances. Capital Gains Tax will apply if the property was not your main residence. Even if it was your main home initially, but it was subsequently rented out while you lived elsewhere, the tax should apply.
A standard CGT rate of 33% applies to these types of property. If you are unsure whether Capital Gains Tax applies to you or, if you’d like a confirmed figure, your solicitor can help you out.
Other Fees for Selling a House in Ireland
Legal fees form a part of the overall costs involved in regards to selling a property in Ireland. Of course, there is the initial question of estate agent charges if you are selling that home through a third party. Be sure to have the charges confirmed in writing before the property goes onto the market.
You should also be able to show a Building Energy Rating (BER) certificate. This document rates the energy performance of your home on a scale of A to G and it is essential that it is passed on from vendor to buyer. An up-to-date BER certificate should cost in the region of 250 euros.
While there are associated costs, it’s important to establish those solicitor fees for selling a house before you begin the process of putting your property on the market.
How to Be Fully Informed About Seller’s Legal Fees
If you are looking at calculating the incoming sales figures, those costs have to be deducted. For those who are buying a new property at the same time, this is especially important as it can affect your purchasing power moving forward.
This guide gives you information about fees attached to selling a home, but how can you determine exactly what the sale of your property will cost you? An experienced legal professional can guide you through the process and explain all of the costs involved at each stage.
If you are selling and buying a house at the same time in Ireland, some of the fees involved apply to both parts of the transaction. The solicitor fees for selling a house in Ireland are part of the overall costs involved. It’s important that they are established upfront so that you are fully aware of what to expect when the deal is complete.
McGinley Solicitors LLP were founded in 1988, so we have over 30 years of experience when it comes to property law in Ireland. We have a professional and friendly approach to house sales and we want you to be fully informed of your legal obligations at every stage of the process.
A good time to get in touch is when you receive a valuation for your property. While this may not be the same as the final sale price, it will allow us to determine your likely fees when the transaction is complete.
When you’re ready, you can give us a call on 1800 998 969, or you can send us an email at info@mcginleylaw.ie. If you prefer, you can simply complete the online contact form and we will get straight back to you.
If you wish us to proceed with the legal side of your property sale, you can call in to meet us. We have three offices, spread across Dublin and Donegal, so we can be flexible in terms of a time and location to suit you.
Above all, we want you to be fully informed in relation to solicitor fees for selling a house in Ireland so that you know exactly what to expect. We also want to streamline this part of the process for you so that you can focus on getting the best possible price for your property.