Vendors/Selling Property

Selling a property can be one of the most stressful things one does in their lifetime. However, choosing the right team from estate agent to solicitors can make all this stress and hassle disappear. The first place to begin, if you are thinking of selling your property, is to contact an estate agent and arrange a market appraisal/valuation of your property. A market appraisal is whereby a qualified auctioneer/estate agent will visit and inspect your property and provide advice on the current market value along with advice on a suitable asking price if you decide to sell your property in the current marketplace.

Market appraisals with DNG O’Sullivan Hurley are free of charge and are the best place to start when you are thinking of selling your property. One of our qualified agents will visit your property and provide advice on not only your property but the market in general at the time. Being the largest estate agent in Co. Clare we have a wealth of knowledge and information to provide you with an accurate appraisal of your property. Don’t worry, your property does not need to be clean or tidy for this initial inspection and we also provide advice and tips in presenting your property to the highest standard in order to help us maximise the potential sales value on the open market for you.

For your Free Market Appraisal please contact our office on 0656840200 or info@dngosullivanhurley.com

In Ireland there are typically four options of selling your property with the most common being Private Treaty Sale or By Auction. The following explains the difference on each method of sale;

Private Treaty – This is the most common method of selling a property in Ireland whereby your property is placed on the open market for sale at a guide asking price and invites potential purchasers to view and bid on your property. An agreed price for the sale of a property is negotiated directly between the vendor’s agent and the purchaser or their agents. Once the property is sale agreed the legal process commences between solicitors to finalise the sale.

Auction – This method allows the property to be marketed for a defined period of time, usually 4 weeks, with a set auction date and time advertised. Online auctions have become very popular over the traditional auctions which took place in person especially since Covid19. The property is advertised at an enticing value to attract as much possible interest in the 4week marketing campaign and if the vendors reserve price is reached (the minimum price the vendor is willing to sell at), or higher, then the property is sold once the auction end time has been reached. Auctions can be a quicker method of sale with a fully signed contract in place at this stage and usually a further standard 4week closing date thereafter to complete the sale. If the reserve price is not met the vendor can decide to sell to the highest bidder, if any, or indeed withdraw the property from the auction and proceed to sell again by auction or private treaty at a later date. The speed of the transaction is more favourable than the traditional Private Treaty sales process however, it may not suit all purchasers as they may not be ready to purchase in that timeline if for example, they are in the process of selling a property or trying to arrange finance.

Sale by Tender – A tender is essentially a type of closed, silent auction. When selling a home by tender, the property will be offered to the market for sale and purchasers will be invited to submit offers in sealed envelopes, which are kept secret from other buyers, by a specified date and time. Vendors are not allowed to accept any offer before the pre-specified deadline has been reached. Any tender submitted by a purchaser will usually include the maximum bid they are offering, their personal details, solicitors’ details, proof of funding and any terms and conditions attached to their offer such as subject to contract and survey. After the deadline time and date, the vendor and their estate agent will open and go through all of the submitted tenders. With their agent’s advice, the vendor can choose the tender that’s most favourable – depending on the price offered as well as the terms and conditions. There’s no obligation on the vendor to choose any of the tenders that has been submitted. If none of them are acceptable, the agent can go back to the potential buyers to see if any of them will be willing to change their conditions/offer or the property could be returned to the market for sale by Private Treaty or Auction. If a tender is accepted, then a booking deposit is paid, and the legal process commences between both parties’ solicitors to finalise the contracts for sale.

Sale Off Market – By using this method of sale the vendors estate agent will offer the property for sale without publicly advertising the property on the open market but instead introduce buyers from their inhouse database or indeed potential underbidders that an agent had from a similar property sale. The agent will negotiate any bids with potential purchasers and once a offer is accepted by the vendor the legal process commences between both solicitors to finalise contracts.

First impressions last, never underestimate the power of kerb appeal when marketing your home, we recommend that the lawns be cut, hedges trimmed, house number visible and windows cleaned. The interior of your home should be free from clutter and additional furniture to maximise space and allow potential purchasers to visualise the potential that your home has to offer. A deep clean and declutter are recommended before marketing images are taken.

As soon as possible. If your home has a mortgage, then you will need to authorise your solicitor to request the title deeds from your lending institution. This can take time and should be completed immediately upon instructing your estate agent. If your home is mortgage free you will be required to provide your solicitor with the mortgage deeds to allow them to prepare the contract for sale.

Planning Documents – All homes completed after October 1st, 1964, required planning permission. You will need to provide the original planning documents along with documents for any extensions or modifications to the building.
Your appointed solicitor will advise if any other documents are necessary when preparing the contracts for sale.
Tax Documents – Proof of payment of all property related taxes including LPT, NPPR and Household Charge as applicable to your property.