Legal Advice | Glossary for buying and selling property in Ireland

Welcome to Irish Property World, your source of information for and on legal advice regarding buying or selling property in Ireland.

What is conveyancing?
The legal work involved in buying and selling property.

What is a structural survey?
A full inspection of the property to ensure it is structurally sound. While this survey is optional, it provides the greatest protection for the buyer.

What is the significance of the signing of contract?
The contract is the written agreement between the buyer and the seller. This agreement, when signed, is legally binding. If a buyer, terminates the contract after signing, then any deposit already paid will be lost.

What is Stamp Duty?
This is a government tax payable on second hand houses and on larger new homes.

What is meant by closing date?
This refers to the date that the sale of the house is completed. The purchaser receives the keys of the house and the title is transferred.

What is a reserve price?
The minimum price that a seller is willing to accept when they are selling their property at auction.