Tips for Buying a House
1. Choosing your ideal new home:
When you decide on the home you wish to purchase and have agreed on a figure with both vendor and auctioneer , the first step toward securing the property ,you are required to pay a booking deposit. This comprises of a bank draft or cheque made payable to Barry Murphy Auctioneers who hold this as stakeholders on behalf of the clients subject to contracts being signed by both parties. You will be issued with a receipt in return. The booking deposit is paid subject to contract and is fully refundable (unless otherwise stated) up to the point that the contracts are signed.(by both you and the vendor of the property).
2. Choosing a solicitor:
When purchasing a property it is important to decide on a solicitor to act on your behalf during the course of the conveyance. This must be decided on prior to paying the booking deposit. If you have not yet retained the services of a solicitor,
Barry Murphy Auctioneers will be delighted to provide you with a list of recommended solicitors to choose from. These solicitors are totally independent and will have you, the clients best interests to hand.
3. Applying for your mortgage
Barry Murphy Mortgage & Financial highly recommend that you obtain approval in principle before you start looking for your home as this will give you a clear indication of how much you can afford to spend.
Barry Murphy Mortgage & Financial would be delighted to Quote for your mortgage free of charge.
The following tasks will need to be carried out by you.
- Complete a mortgage application form.
- Enclose a salary certificate (completed by your employer)
- Enclose a recent P60 or completed accounts if self employed.
- Enclose 3 recent payslips along with:
- A 6 months current account statement
- A statement of existing borrowings
- A statement of personal savings
- Photo identification (Driving licence / passport)
- Other information which may be required for your particular case.
- After receiving approval in principle you will be required to employ a valuer to inspect the chosen property. The general price region is €150 – €250.
4 Life insurance and building insurance
It is normally a condition of your loan approval that you obtain life insurance up to the amount of the loan you intend to borrow. Building insurance covers you against most forms of damage to your property. This should be discussed in detail with your insurance company to clarify exactly what is covered under your chosen policy. In the event you have yet not acquired an insurance company Barry Murphy mortgage & financial will be only too delighted to recommend a number from our database.
5 Valuation
A valuation survey carried out by the proposed Mortgage Lending Company panel of valuers on the Mortgage Lending Company list.
6 Building Survey
You can choose to have a building survey on the property you are buying, Barry Murphy Auctioneers can recommend a number of competent professionals in this field. A basic building survey can cost approximately €400 to €800.
7 Signing of contracts
Once the booking deposit is paid to Barry Murphy Auctioneers we will write to the vendor’s solicitor requesting them to prepare contracts and forward same along with title documents to your solicitor. The contract will normally request that you sign within 14 – 21 days of receipt of same by your solicitor however it may take longer in some situations.
Barry Murphy Auctioneers cannot emphasise enough the importance of signing the contract within the specified timeframe as the vendor always retains the right to sell to another party. Formal written loan approval is always sent directly to your solicitor.
At this point the non – refundable 10% of the purchase price is paid (to include booking deposit). When the vendors solicitor is satisfied that the contracts are unconditional, the vendor will then be instructed to countersign. They will then return one contract to your solicitor and retain a copy for your records. This is the point in which the property is deemed to be sold. You will be issued a completion date at this point.
7 Closing the deal & receiving the keys of your new home
This is the most important and exciting process of the transaction. Once the sale is ready to close and all parties are satisfied, the final monies will be transferred and the sale will then close. Finally you will receive the keys of your new home.
Barry Murphy Auctioneers wish all our customers a very pleasant experience while purchasers and hope the above guidelines help you on your journey to your new purchase.
12 Tips for selling your home
1: Price
It is vital to have a correct value on your property. It is worth what someone is willing to pay for it. If your property is valued too high you will not receive many viewings if any. If your property is valued too low you will not receive enough money for your property. Here at Barry Murphy Auctioneers we will guide you through he valuation process
2: Curb appeal
You can only make one “first impression,” and people usually form their first impression within 30 seconds. The front of your house is a good place to spend a little extra time and money. Plant flowers, trim bushes, weed, pick up leaves, repaint your front door, replace tarnished house numbers, get a brand-new neutral doormat, park your old car somewhere else.
3: Clean
Your home must sparkle! Spring Clean your house from top to bottom before putting on the market. Having a weekly cleaning schedule . Make sure your windows are clean inside and out too.
4:Fix
Got a dripping tap or a cracked tile? These will send the wrong message to potential buyers. Getting all problems fixed before you put your house on the market is a smart idea
5:Eliminate Clutter
Clutter makes homes seem smaller and disorganized. Even the ancient practice of Feng Shui has, as a central focus, the elimination of clutter
6:Neutralise
Neutral colours sell. It’s a fact. Try to convey an image of quality and neutrality. Potential buyers walking through your home want to imagine themselves as the owners. If you use styles or colours they would never select, you’ve just turned them off. Stay high-quality, but neutral is safest.
7:Pets
Always keep your pets under control. Try confining them to a specific area, or better still take away for viewings. Although you may love your pets, they can be off-putting to other people, and smells can be offensive, so make sure there are no lingering odours in furniture or flooring, and if there is, get them cleaned before you sell.
8:Lighting
Make sure you have adequate lighting in every room, use subtle mood lighting to create the right atmosphere in each room and check all your bulbs work.
9:Accessories
By using the right accessories, you can enhance your rooms and create a feeling of unity by using harmonious colours. Use mirrors to reflect light and space, and use plants and fresh flowers to bring life to rooms and add a natural fragrance.
10:Bedrooms
- Never underestimate the importance of bedrooms; it’s the reason 60% of people move home.
- A bedroom adds more value than a study or storeroom, so make sure every bedroom has a bed.
- Concentrate on the Master Bedroom – its adult buyers who pay for the property, so impress them with new bedding and curtains.
- Look at the layout, buyers must be able to walk around the bed, or they will think the room is too small.
11: Do not forget the exterior of your home
Some studies have shown that 50% of the purchase decisions are made during the first minute of look at a home. Make sure that the exterior is in good shape. This includes, paint, siding, windows, shutters, fixtures, and most important the front landscaping.
12: Get Out
Leave the property before the perspective purchaser arrives the purchaser is more likely to relax if the home owner is not listening to their every word, also the perspective purchaser will give a more honest account to the estate agent of what they see if the home owner is not there.
