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Hi, Thoughts on the following please: We have 2 mortgages, one for our home, one on a rental property. We are sale agreed on our home to relocate to Dublin. Thankfully, we will have a decent excess remaining after the sale is complete. However, on our title and original loan offer...

It's not necessary to have a signed contract to have a legally enforceable agreement between the EA and the seller. For example, did you grant the EA permission and access to the property to take photos, measurements, details and erect a sign? If so, then this is an implicit acceptance of the...

After posting the above, I got a bit annoyed about the banks attitude. So I wrote them a snotty letter (but polite) and outlined the dates etc. and their continually changing requirements for the invoices to be paid. I just received an email this morning, saying that on this occasion they...

Hi, About 2 yrs ago, a particular bank (I won't name them) asked me to organise a locksmith to have locks changed on a house (voluntary repossession). As an EA I would then be asked to value the property and then place it on the market. My charges for the valuation and the property sale would...

One other consideration is that of perception. If you're not registered for VAT, then the customer can rightly assume that your turnover is less than 75,000 for goods and 37,500 for services - and they may view you as a small operator and prefer to deal with someone larger. Having a VAT...

Tell me about it, I'm already an estate agent (don't hold that against me - my background is telecoms, moved into auctioneering to get out of Dublin and take over my parents business when they retired) and I've rejigged the business to cut costs, the most significant costs remaining are all to...

I agree with you, theres a substabtial risk. But it also applies to all other manufacturers in the same space, there's no patents on any similar products. Mine is different, and hopefully different enough to make it stand out. My plan is to approach a manufacturer in this area already and...

It's not already in the market, its just not considered to be a new development that warrants a patent. But, and this bit I was surprised at, it was Enterprise Ireland that suggested that the product might be manufactured cheaper in China. What sort of manufacturing are you involved in? PM...

Hi, I've d eve loped a new product, related to iPad and similar products, with the aid of a government research grant. The next step is to take the cad drawings and go ahead and manufacture the product. 2 options, go to Chinese companies and have it done directly, but as I've no...

Hopefully, the fact that there's an ambiguity might be enough to work with.

Actually John, as I read that, the insertion of the words "not just" seems to imply that the issue of assets exceeding liabilities is an underlying element that must be present in addition to being able to meet debts as they fall due. In other words, "assets exceeding liabilities" is a...

Thanks John, the accountant is an ACCA member so i'll put that to him.

Thanks Brendan, the company won't be going to the wall, I gave a personal guarantee for the overdraft and if worst were to happen and I closed shop then I can repay the bank. My intention is to trade through the next while and eliminate the overdraft (now that I can do so without requiring any...

I'm an estate agent/valuer. Most income is from valuations (banks/probate/divorce cases) rather than property sales in the last 12 months. I agree with your definition of solvency, but how to convince the accountant?

Hi, In my line of work I require an annual licence from the state, and as part of that process my auditor must provide a certificate stating that the company is being run OK etc. But most importantly, it must state that the firm is "solvent". About a year ago, I took out an overdraft for...

If the auctioneer is a member of IAVI (SCSI) or IPAV then they should be OK as they have a policy to cover deposits should they go bust. Probably the main reason the auctioneer wants the deposit though is that they normally retain their fee from the deposit when the sale eventually closes...

It should still work, as the poster outlined above. Its not too different from drawing down a mortgage for the construction of a one-off build. The bank will finance the purchase of the shell and then will make the remaining completion payments in stages. A valuer or surveyor may be required...

Thanks Paddy, PM sent.

Hi, I'm looking into manufacturing some consumer electronic items. The main market for the products would be worldwide, though predominantly US/UK/Germany/Australia/China/India. The product will be manufactured in China, and probably assembled/packaged in the US, then shipped via Louisville...

Since the recent budget, S.23 relief only applies to rent from the s.23 property itself, so strictly speaking you cannot claim the relief. This is different to the case prior to the budget, you could have used it against other rental income (Ireland only).