Legal Process/Fees

WORKING OUT YOUR LEGAL COSTS

How much should you pay your solicitor? What are the usual fees and expenses, and are there any ‘Hidden Extras’? You need to work out in advance how much you can afford for all these areas before you decide how much you can afford to pay for your new home.

Legal fees on the purchase of a new home consist of the following:

1. Solicitor’s Fee: In the past this was generally 1% of the purchase price, but fees are lower than this now, especially in urban areas. 0.5% or 0.6% of the purchase price is common although some Solicitors charge a fixed flat fee instead. Remember, the cheapest isn’t always the best!

2. Miscellaneous Outlay: This is for phone calls, photocopying etc.

3. VAT: Vat at 21% is charged on the above two figures.

4. Registry of Deeds fees/ Land Registry fees: These are fees paid to register your title and mortgage. They can range from €88.00 to €775.00.

5. Search fee: This fee is paid by your Solicitor to a separate firm of Law Searchers to search the various registries to make sure the Seller is entitled to sell you the home. This will usually range from €50 to €200.

6. Stamp duty. If you are a first time purchaser or you are purchasing a new “grant-size” house to live in, you may be exempt. The rates of duty are between 3% and 9% of the purchase price depending on the circumstances. Stamp duty is also payable on your mortgage at the rate of €1.00 per €1,000 borrowed if your loan is over €254,000.

7. Commissioners Fees: Fees paid to a Commissioner for Oaths or Solicitor (not your own) to witness documents sworn by you.

Sales of property
If you are selling your property, items 1, 2, 3 and 7 will be payable and there are other outlays (expenses your Solicitor incurs on your behalf) which will generally not exceed €200.00.