It is important to be aware of the costs involved in buying or selling property. There can be costs associated with obtaining a mortgage e.g. survey fees, valuation fee, insurance etc. There are also legal fees to be considered and below is a guideline of our fees at John A. Sinnott & Co. Solicitors.
Stamp duty is the tax payable to the Government for changing the documents that specify who owns a particular property. For residential property i.e. houses, apartments and sites with agreement to build; the rates are as follows:
Value of Property Rate
Less than €1,000,000 1%
For those buying their homes under local authority tenant purchase and similar schemes, a maximum amount of €100 is charged in stamp duty. There is no stamp duty payable on certain transfers between spouses, civil partners and cohabitants. Stamp duty is payable on the price of the house excluding VAT.
For non-residential property, there is a single rate of 2%.
The amount is paid, through your solicitor, to the Revenue Commissioners, who places a stamp on the property deeds. Without this stamp, the deeds cannot be registered.
Land Registry Charge/Duty
The buyer must register the property with The Property Registration Authority (formerly The Land Registry) and is subject to the following charge:
Value of Property Fee
Less than €50,000 €400
€50,001 to €200,000 €600
€200,001 to €400,000 €700
More than €400,000 €800
John A. Sinnott & Co. Solicitors will take care of all the above tasks and guide you through the entire legal process, ensuring that you have the keys to your property quickly.
Specific quotation will be provided at initial consultation and is dependent on value of property and individual property circumstances.