Kerry Property Purchase Costs



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How much will a desirable County kerry Property cost?

How long is a piece of string?

How High is a China man, (his real name is Ling woo)

Apart from the purchase price of your selected County Kerry Property, it is important you do not forget the other costs involved in purchasing your home.

Legal Fees

First you must appoint a solicitor and ask for an outline of fees. It is worth shopping around for fees can vary considerably.

The usual fee quoted by solicitors is between 1% and 1.5% of the purchase price + vat + 127. However you should ask to agree a fixed fee with the solicitor.

Registration

The job of your solicitor is to determine the nature of the title to your property. The costs incurred will depend on whether the title is held in the Land Registry or the Registry of Deeds.

This incurres further fees.



Land Registry Fees Registration of mortgage €127

Registration of Ownership: Application for registration for a transfer on sale where the value of the consideration is not is excess of €13,000 €125

In excess of €13,000 but not in excess of €26,000 €190

In excess of €26,000 but not in excess of €51,000 €250

In excess of €51,000 but not in excess of €255,000 €375

In excess of €255,000 but not in excess of €385,000 €500

In excess of €385,000 €625

Other Charges Land Certificate €25

Certificate of Charge €6

Copy Folio €25

Registry of Deeds Fees Memorial of Mortgage €44

Counterpart of Mortgage €12

Memorial of Conveyance/Assignment €44

Counterpart of Memorial of Conveyance/Assignment €12




Searches

There will also be a fee for the searches your solicitor may carry out in relation to the County Kerry Property you are purchasing. Searches are undertaken to ensure that there are no outstanding charges on the property.

Structural Surveys

It is strongly recommended that you arrange for a structural survey of the property you are buying, to asses the condition of the property.

It can identify defects and problems, which would not be evident from a valuation report. The report will include comment on all visible areas of the property.

Fees for structural survey can vary, it is worth shopping around.

Home Insurance

All lending institutions will require you to take out buildings insurance on the County Kerry Property you are buying. Buildings insurance will cover your home against serious loss or damage.

It will protect your home against serious loss or damage. It will protect your home against risks such as fire, flooding, theft, and malicious damage, (not that it would happen in Kerry)

Different types of buildings insurance will offer various levels of cover. Insurance companies or lending institution will provide you with advice on different types of cover they offer.

Mortgage Protection

All lending institutions require that you take out mortgage protection. Mortgage protection is an insurance, which will pay off the balance of a mortgage in the event of the death of the mortgage holder.

The cost of mortgage protection will depend on a number of factors, including the mortgage amount, the term of the mortgage, your age and the type of policy.

Lending Institution Fees & Charges

Do a Good deal of shopping around; fees will vary from institution to institution considerably.

Valuation Fee

When you buy a property with mortgage financing it is standard for your lending institution to require that a professional valuer carry out a report on the property.

The lending institution to determine if the property is suitable security for mortgage lending purposes uses this report. Some lending institutions insist on using their own valuers.

Indemnity Bond

Some lending institutions may require that you take out an indemnity bond if you are borrowing 75%-80% or more of the purchase price.

Other Costs

Don’t forget to factor other costs into your budget. Your home may require vital repairs; you will have moving expenses; fees for connection of gas, electricity, telephones etc; and you will probably be redecorating and purchasing new furniture.




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