Our Guide to Buying

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Buying a property

Buying a property is arguably the biggest purchase a person will make in their lifetime. Whether you’re a first-time buyer, downsizing, an investor or trading up, it’s important to be prepared & know what you can afford.

The first step is to know how much you have to spend and if you’re in fact in position to proceed with purchasing a property. Majority of property purchases in Ireland are made via mortgage approval.

If you’re dependent on mortgage, you will be required to receive mortgage approval in principle before being considered as a potential purchaser. In this case it’s advised to contact your bank to set up an appointment with a mortgage advisor. Additionally, a good option is to contact an independent mortgage broker. They’ll be able to search for the best mortgage options for you.

Under current regulations borrowers can lend 3.5 times (with exemptions) a purchasers income while a deposit between 10% (FTB) and 20% is required for the purchase of second hand properties.

It’s recommended to appoint a solicitor at this early stage as they’ll be required to conduct the conveyancing, which is the legal process to transfer ownership of the property from the seller to the purchaser. Having one appointed early will allow a purchaser to be in a quick position once sale agreed on a property. Solicitor fees can vary per company/individual so should be confirmed at the start in order to factor into budget.

Other costs to consider for budget upon completion are:

Property insurance
Life insurance
Stamp duty

Mortgage approval

Once mortgage approval in principal is obtained, a person is now in position to house hunt for their desired property & to submit bids. It’s important to be realistic in what you can afford but also be sure that you’re purchasing a property that you like.

To help ensure this, it’s recommended to research what’s available in your price bracket in certain locations and determine if they are of further interest.

Making a list of requirements/desires is very helpful. Criteria to consider include:

No property will be perfect but making these lists certainly help pinpointing the important factors.

Submitting an offer

Once you’ve viewed a property you like contact the selling agent to submit an offer. They’ll require that you confirm your buying position with a proof of funds, hence the importance of having mortgage approval in principle in place. However, it’s also important to confirm details such as preferred timeframes for completing on sale.

If an offer is accepted the purchaser is granted exclusivity in order to put down a holding deposit (This is refundable & subject to the exchange of contract) & confirm solicitor details. Once done, the conveyancing process can begin.

Contract & survey

All properties sales & purchases are subject to contract & survey. Your solicitor will handle the legal process & communicate all proceedings in that matter. To help the proceedings move swiftly, the purchaser is required to have:
  • A mortgage valuation carried out on the property. This is required for final mortgage approval & to be able to draw down on funds once the time comes Have an independent surveyor review the property. This will help highlight any issues you may not be aware of & help create a snag list to be addressed once you are the owner.
  • Once the legal pack has been reviewed & satisfied by the solicitor and the loan offer has been confirmed by the mortgage provider, you will now be able to exchange on the contracts, pay the remainder of the deposit & agree a completion date suitable for both parties.
  • When the exciting day of completion arrives, the final remaining funds will be released to the sellers’ solicitor & you’re now thankfully the rightful owner of your own property. Keys will be released & the property will be ready to move in. Mortgage payments will be begin after this date which your provider can clarify further on.


O’Donnellan & Joyce have over 38 years of proven auction results.

We are Ireland’s Largest Independent Auction House and we are here to guide you through the auction process. We guarantee the best possible results for your property

Thinking of buying?

When you start thinking about buying a property, it’s important that you have a support team to help you through the process. Buying a property can be complicated but at O’Donnellan & Joyce, our 40 years of experience goes a long way towards making the process simple and enjoyable for you.

If you are interested in this property, contact our sales agents today and give them some information about yourself, your buyer status and what you wish to do. Our team are on hand to guide you through the buying process and make sure that this purchase is one that you remember for all of the right reasons!

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Buyers guides

Whether buying your first home, trading up or downsizing we have all the resources and insight you need when it comes to buying your new home

Sellers guides

Selling a house is rarely an easy decision. No matter what the reason, we have the experience needed to guide you through what can be a complex process.

Auction guides

We pride ourselves in being your property auction experts. Whether you are buying or selling via auction, we have the answer to all of your questions.

Get in touch

With over 38 years of experience, our team of property professionals can answer any question that you may have. If you are thinking of selling or just looking for advice, pick up the phone and call our office today or send us an email.

We are waiting to help you!  

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