Buying property from abroad?

G

grahamo

Registered User
Messages
169
Hi,
My brother and his wife live in New Zealand. They want to buy a property in Ireland but don't know how to go about it. They have a mortgage arranged so the main questions are...
1.) Does the solicitor they use for the conveyancing have to be based in Ireland or can they use a solicitor in New Zealand?
2.)Are the entitled to TRS on mortgage repayments even though they live abroad?
3.) Are there any other costs involved in buying property in Ireland from abroad?

Thanks in advance
 
1.) Does the solicitor they use for the conveyancing have to be based in Ireland or can they use a solicitor in New Zealand?
Technically, they could use a NZ solicitor but its unlikely they would know the Irish system well enough to do the work properly. They should use an Irish solicitor - bit of an issue though with money laundering issues and getting paperwork signed unless they plan to come to Ireland for the duration of the purchase. Also if it is an Irish mortgage, bank will insist on Irish solicitor.
2) Dont know
3) all the usual costs. Fees, VAT, outlays, stamp duty.

mf
 
1. Banks always use the clients solicitor to act on their behalf for the conveyancing so they would need to use an Irish solicitor.

2. No, it's not their main residence so they would not be entitled to tax relief

3. No additional costs for buying from abroad (other than postage!)

I've done mortgages for property in Ireland for people living in Russia, Papua New Guinea (dreadful postal system!) and several from the USA. As long as the basic lending criteria is met there shouldn't be a problem.

Sarah

www.rea.ie
 
Sarah W said:
1. Banks always use the clients solicitor to act on their behalf for the conveyancing so they would need to use an Irish solicitor.

2. No, it's not their main residence so they would not be entitled to tax relief

3. No additional costs for buying from abroad (other than postage!)
Click to expand...

1. When I got my mortgage (I am overseas returning soon) the bank had me sign a one page document to nominate my solicitors address (which had to be in Ireland) as being where they could serve process. Presumably this was because there could be issues in the event they needed to serve any legal documents on me since I am out of the country.

2. I would think as well as the issue of their main residence is the fact that they are likely non-resident for tax purposes. It does not seem likely you could claim a tax relief when you are non-resident in Ireland for this reason I have not filled out any TRS claims.

3. Depending on where you are to save time and for reliability of delivery you might end up using couriers a couple of times for the more crucial documents (I sent contracts and the deposit cheque this way).
 
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