We are often asked if we need an estate agent to sell our house, and the answer is no. Legally you do not “have” to use an estate agent, but if you want your house to sell at the optimum price in a suitable time frame then having a reputable estate agent is vital.
Invariably what you save on the estate agent’s fees will not compare to the amount lost on the property price.
Can I privately sell my house to a family member?
Yes, you can sell your home privately to a family member. Having said that, there is a minefield of tax implications to be aware of.
First is who the family member is; for example, a mother’s daughter and her husband were renting her primary residence. The house was valued at €220,000, but the daughter offered €150,000, and the lady accepted.
The revenue service would see the difference between the value and sale prices as gifts. Now, as the daughter, she’s entitled to up to €335,000 in gifts or inheritance from her mother.
But the daughter’s husband is only authorised to €16,250; in tax terms, the husband is a stranger and only entitled to the lowest category ( c ) of tax relief.
This is another important reason to consult with an estate agent and a solicitor when selling a property, regardless of whether the sale is a private or open market.
The revenue service does place some regulations on family members selling a house; a complete list of these regulations is available on www.revenue.ie
It’s worth remembering that revenue is likely to charge penalties if you undervalue the property.
Do I have to pay tax if I sell my house in Ireland?
The average amount of total tax paid on the sale of a home in Ireland is usually a cumulative 33% of the house’s overall value.
This applies to sellers who sell the house privately or through an estate agent.
What documents do I need to sell my house in Ireland?
You will need to obtain some documents to sell a property either via an estate agent, auctioneer or privately. There are 11 different pieces of potential documentation that you will be required by law to produce to finalise a sale.
Title Deeds
A title deed is the ownership document of any property. If more than one person is named on the title deed, then all parties need to agree on the sale.
BER Certificate & Advisory Report
A Ber certificate is a document which tells property owners how energy efficient their property is, and a registered BER Assessor must have produced this certificate.
Letter from the council
A solicitor will want to confirm the roads and services surrounding the property are serviced by the local council. A letter from the council will be required to this effect.
MUD Act Documentation (Multi-Unit Development)
MUD stands for multi-act development. If you live in a building managed by an OMC, you will need to present any related documentation.
LPT (Local Property Tax)
Local Property Tax documentation is also required for sale; this document proves that all your local tax is up to date.
NPPR (Non-Principal Private Residence)
If you own more than one property and the one being sold is not your principal residence, then you will need to fill out an NPPR form.
Planning Documentation
Any documents about planning applications (even if denied) must be submitted for due diligence.
Marriage Certificate
If you have been married, your solicitor will require your marriage certificate. If you have ever been separated, a copy separation agreement, deed of waiver, or copy court order will be required.
Proof of ID / Proof of Address
Very self-explanatory, you will need to prove your identity when selling a property.
Bank Statement
A bank statement is required so that the funds from the sale go to the correct bank account.
Land Registry Compliant Map
If you’re selling a property not registered with the land registry, you MUST write it. Once registered you will be required to allow the Land Registry to produce a land registry-compliant map.
If you are unsure if your property is registered, then you can check by visiting www.landdirect.ie
How does an estate agent help with selling a house?
Some estate agents offer a very transactional service that includes valuing your property, arranging and advertising or marketing required and coordinating viewings. Some estate agents will also remain involved as an intermediary between the buyers and yourself.
Then there are estate agents who will move heaven and earth to ensure the customer has their hand held throughout the process.
Estate Agent North Dublin
We believe Leonard Keenan Wilson is one of these estate agents, we will manage the property sale process from inception to competition. Whether assisting with curb appeal or getting the property’s interior up to scratch, the experienced team at LWK can and will help.
We have helped countless property owners make the right decision for them.
If you would like to talk about the possibility of a sale or a free comprehensive valuation, then contact us on the form below.
