Made an Offer, What Next?

Discussion in 'Mortgages and buying and selling homes' started by laura28, Mar 14, 2017.

  1. laura28

    laura28 Frequent Poster

    Hello all,

    Very new to the house buying process so I’d appreciate any advice that you can provide.

    We have just put in an offer on a house, one other bidder so likely to be out bid but want to be prepared anyway. We are in a chain, will put our property on the market as soon as we have an offer accepted. We own a 2 bed apartment so have been advised likely to be sold quickly.

    We are currently applying for mortgage approval, have been approved in principal. Some of the 10% deposit we require to going to be tied up in equity from our sale.

    I am thinking if we get offer accepted, we put down a deposit for €5-6k, is this fully refundable if anything changes e.g. we don’t get mortgage approval etc?

    When do we need to pay stamp duty, solicitor fees, estate agent fees, from our sale?

    Is there anything else I need to think of or should be doing differently?

  2. elcato

    elcato Moderator

    The initial deposit is fully refundable until contracts are signed by both parties. Given that your solicitor will not let you sign unless you have everything in order you will be OK on that side.