Buying a House in Ireland: A Step-by-Step Guide
Buying a house or apartment in Ireland can be a very different process to buying property in other countries.
If you’re wondering how to buy a house in Ireland, what happens when you make an offer, what “sale agreed” actually means, when you pay your deposit, or how long it takes before you finally get the keys, this guide takes you through the process step by step.
As a Buyers Agent in Ireland, I regularly help buyers navigate this process from the initial property search and bidding right through to surveys, solicitors, contracts and finally collecting the keys.
Here’s what you can generally expect when buying property in Ireland.
Buying a House in Ireland: A Step-by-Step Guide
Step 1: Finding a House or Apartment for Sale in Ireland
Most properties for sale in Ireland are advertised by an estate agent on one or both of the country's main property portals:
This is where the majority of buyers begin their property search.
However, not every property that is available to buy will appear online; such properties can be for sale on an off market basis. It’s also worth knowing that some properties advertised online may already have offers on them or be sale agreed by the time you enquire.
Step 2: Understanding Asking Prices in the Irish Property Market
One thing buyers should understand is that the advertised asking price is not necessarily the price at which the property will sell.
The estate agent and property seller will often be hoping and expecting to achieve 10–20% more than the asking price, particularly where there is strong competition for the property.
It is standard enough practice in the Irish property market for a property to be sold for considerably more than the asking price. It is important to bear this in mind when looking at asking prices online.
Step 3: Viewing the Property
Potential buyers then come to view the property.
These viewings typically take place in person, In general, agents are happier to do a deal when a buyer has seen the property in person. However, having a buyer’s agent working on your behalf can offer the selling agent a degree of comfort if you are unable to view the property yourself.
The viewing gives the buyer an opportunity to assess the property and decide whether they would like to enter the bidding process.
Step 4: Making an Offer and Bidding on a House in Ireland
The Irish property sales process is effectively a slow-motion auction.
If a buyer is interested in a property, they place a bid or offer through the selling estate agent.
For example, imagine a property is advertised for sale with an asking price of €1,500,000
A buyer might begin with an offer of €1,350,000
If other buyers are interested, they may then make competing offers. In general, each new offer will be higher than the previous bid.
The process continues until the seller decides which offer to accept. Cash buyers are generally considered to be the most desirable buyers.
Step 5: What Does “Sale Agreed” Mean in Ireland?
After one to three weeks of bidding, the seller will usually decide to accept an offer.
Often this will be the highest offer, although the highest bidder does not automatically secure the property. A seller may take other factors into account when deciding which buyer to proceed with, such as whether they are cash buyers, how soon the buyers want to close, how quickly the seller needs to sell, etc.
Once the seller accepts an offer, the property becomes “sale agreed”.
Sale agreed does not mean the property has legally been sold.
Sale agreed means that there is an agreement in principle between the seller to sell and the buyer to buy at an agreed price.
Step 6: Paying the Booking Deposit
Once the property is sale agreed, the estate agent will usually ask the buyer to pay a booking deposit of approximately 3% of the property sale price.
Importantly, the booking deposit is fully refundable at this stage.
The paying of this deposit demonstrates the buyer's intention to proceed with the purchase
The legal commitment to purchase comes later when contracts are signed.
Step 7: Getting a Structural Survey
The buyer will usually arrange for a structural survey of the property to be completed.
A structural survey will typically cost somewhere in the region of €600 – €1,500, depending on the size and nature of the property.
Step 8: Getting the Bank Valuation
If the buyer is using a mortgage to purchase the property, their bank will also appoint an independent valuer to value the property.
The purpose of the bank valuation is to establish that the property provides appropriate security for the mortgage being offered.
The survey and bank valuation should ideally take place within approximately 5–10 days of the property going sale agreed.
The bank valuation fee is generally around €150 and is paid by the buyer or borrower.
Step 9: The Estate Agent Sends the Sales Details to the Solicitors
Once a booking deposit is paid, the selling estate agent will write to the solicitors acting for both the seller and the buyer.
This communication sets out details including:
The property being purchased
The agreed purchase price
The names of the buyer and seller
An estimated closing date
The estimated closing date may initially be scheduled for approximately eight weeks from the date of this letter.
However, anyone buying property in Ireland should understand that the actual process can take considerably longer.
In practice, I regularly see transactions taking approximately three to eight months from this stage.
Step 10: Solicitor's Fees When Buying a House in Ireland
The purchaser will need a solicitor to handle the legal side of the property purchase.
A purchaser is likely to pay a solicitor a minimum of approximately €6,000 in fees, depending on the complexity of the transaction, title deeds and boundaries of the property being purchased.
Property transactions can vary considerably in complexity, so buyers should establish their likely legal costs with their solicitor at an early stage of engagement.
Step 11: The Contract for Sale Is Prepared
The seller's solicitor prepares the Contract for Sale.
This is sent to the purchaser's solicitor together with a copy of the relevant title documentation for the property.
The purchaser's solicitor can then begin examining the legal documentation associated with the property.
Step 12: The Buyer’s Solicitor Raises Queries About the Property
This is often one of the longest parts of the property buying process in Ireland.
There can be considerable back and forth between the buyer's solicitor and the seller's solicitor.
Questions may arise relating to issues such as rights of way, building compliance, building and planning regulations, boundaries, or, in the case of an apartment, management company-related issues.
I have seen this part of the process take up to 40 weeks.
Equally, where everything is straightforward, it can sometimes take as little as three weeks.
Every property transaction is different.
Step 13: Signing Contracts and Paying the Full Deposit
Once the purchaser's solicitor is satisfied with the documentation, the purchaser will be invited to sign the Contract for Sale.
At this stage, the buyer will usually pay a further 7% of the total cost of the property.
Combined with the approximately 3% booking deposit already paid, the buyer has now paid a total deposit of approximately 10% of the purchase price.
This is a major point in the transaction because the deposit is now non-refundable, unless the vendor pulls out of the sale.
The buyer is now legally committed to the purchase.
Step 14: The Signed Contract Goes Back to the Seller
The contract signed by the purchaser is returned to the seller's solicitor.
This will normally happen as soon as the contract is signed by the purchaser away unless there is an outstanding issue that needs to be resolved..
Step 15: The Seller Signs the Contract
The seller then countersigns the contract.
This will usually happen within approximately a week of the contract being returned, assuming there are no outstanding issues delaying matters.
Step 16: The Buyer Carries Out a Final Inspection
Before the purchase closes, the buyer should conduct a final inspection of the property.
The purpose of this inspection is to ensure that the property remains in the expected condition before the remaining purchase funds are transferred.
For example, you want to establish that there are no newly broken windows, overflowing tanks or other significant problems that have arisen since your previous inspection.
Step 17: Closing the Property Sale
The buyer's solicitor transfers the balance of the purchase funds to the seller's solicitor.
The property sale can then formally close.
This is the moment the ownership of the property passes to the buyer.
Step 18: Paying Stamp Duty When Buying Property in Ireland
The buyer must also pay a once-off government tax when purchasing property in Ireland.
This is known as Stamp Duty.
For residential property, Stamp Duty is currently charged at:
1% on consideration up to €1 million
2% on consideration over €1 million and up to €1.5 million
6% on any consideration over €1.5 million
Your solicitor will normally deal with the Stamp Duty requirements as part of completing the purchase.
See here for more information on Stamp Duty.
Step 19: The Estate Agent Is Authorised to Release the Keys
Once the sale has formally closed, the seller's solicitor contacts the selling estate agent.
The solicitor confirms that the sale has completed and that the estate agent may now release the keys to the buyer.
For many property buyers, this is the call they have been waiting months to receive.
Step 20: Collecting the Keys to Your New Home
Finally, the buyer collects the keys from the selling estate agent and takes possession of their new home.
If I am working with a buyer and they would like me to do so, I collect the keys on their behalf.
And that is the final stage of the process.
How Long Does It Take to Buy a House in Ireland?
There is no single answer because every property purchase is different.
An estimated closing date might initially be set for around eight weeks after the sale details are issued, but in practice I frequently see the complete process taking five to eight months.
Legal queries can have a particularly significant impact on the timescale. I have seen the solicitor enquiry stage take as little as three weeks and, in more difficult transactions, as long as 40 weeks.
This is why buyers should be prepared for the process to move quickly at certain stages and much more slowly at others.
Frequently Asked Questions About Buying a House in Ireland
What does sale agreed mean in Ireland?
“Sale agreed” means the seller has accepted an offer from a buyer and both sides intend to proceed with the transaction. However, at this stage the transaction is generally not yet legally binding.
Is the booking deposit refundable when buying a house in Ireland?
Yes. The booking deposit paid to the estate agent after going sale agreed is normally fully refundable until the buyer enters into a binding contract.
How much deposit do you pay when buying property in Ireland?
A booking deposit of approximately 3% may initially be paid to the estate agent. When the buyer signs the Contract for Sale, a further amount is usually paid so that the total deposit comes to approximately 10% of the purchase price.
Do you need a survey when buying a property in Ireland?
A buyer will usually arrange a structural survey after going sale agreed. This allows the buyer to have the condition of the property professionally assessed before becoming legally committed to the purchase.
When does buying a house in Ireland become legally binding?
Going sale agreed does not in itself make the purchase legally binding. The crucial stage comes later in the process when the buyer signs the Contract for Sale and pays the balance of the deposit.
What happens on closing day when buying a house in Ireland?
The buyer's solicitor transfers the remaining purchase funds to the seller's solicitor. Once the sale has closed, the seller's solicitor authorises the estate agent to release the keys to the buyer.
Buying Property in Ireland With a Buyers Agent
The process of buying a house in Ireland can look relatively straightforward when written down step by step.
In reality, there can be months of searching, viewings, bidding, negotiations, surveys, legal queries and follow-ups behind those steps.
That can be particularly difficult if you're buying from overseas, have limited time to attend viewings, or simply want someone experienced in the Irish property market representing your interests.
As an independent Irish Buyers Agent, I work solely for property buyers rather than sellers. I can help with the property search, viewings, assessing opportunities, bidding and negotiation and continue working with you through the sale agreed process until the keys are finally handed over.
If you're considering buying a house or apartment in Ireland and would like professional support throughout the process, you can find out more about my Finding You a Home to Buy service or book an introductory call with me.
Breffnie O'Kelly
Licensed Buyers Agent | Dublin | Ireland