Briefly
We are here to make the purchase of your new home a pleasant
experience so please feel free to contact us at any time if you have
any questions or queries. At this stage you have put down a deposit
on your new home. Below we set out what the next steps are and
have addressed the questions most frequently asked by our clients.
Solicitors / contracts
Contracts will now be issued by our solicitor to your solicitor. Please
make sure that McInerney or our auctioneers have the full details of
you solicitor for this. You should also make an appointment with your
solicitor to sign your contracts within the next three weeks. A contract
payment will be due when you sign the contracts.
Mortgages
If you have not already organised your mortgage you should do so
immediately. Mortgages are available from a variety of banks, building
societies and other lending institutions and can be arranged through
mortgage brokers. We would strongly recommend that you obtain
mortgage approval before you sign the contracts and would point out
that contracts are not subject to loan approval.
Stamp Duty
If you are a first time buyer you are exempt from stamp duty, no matter
how large the property you buy.
On new homes of up to 125 sq. metres (1,364 sq.feet), be it a house
or an apartment, no stamp duty is payable by any owner occupier.
On new homes where the floor area is greater than 125 sq. metres
(1,364 sq.feet), stamp duty is payable at the following rates.
Investors also pay stamp duty on new homes according to the above
table. Please consult your solicitor for further advise.
Guarantees and Warranties
Houses are inspected at every stage and a certificate of compliance
with building regulations is issued on the completion of the property.
All McInerney Homes come with a 6 month guarantee on general
maintenance, 12 months on electrical, plumbing, windows and doors,
a 5 year water and smoke penetration homebond warranty and a 10
year structural warranty. Your new McInerney home is registered with
Homebond, the national organisation which provides home buyers
peace of mind on a number of key aspects of purchasing a new home,
including deposits, stage payments and structural warranties. Since
1978 over 600,000 homes have been registered with HomeBond. You
can find details of exactly what is covered by HomeBond at
www.homebond.ie.
PROPER VALUE RATE
Up to €125,000 Exempt
Next €875,000 7%
Balance 9%