Conveyancing Fees Explained
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Fees explained
What are outlays?
Outlays are third-party costs that arise during your transaction.
These outlays remain the same regardless of which legal service provider you opt for. These are not legal fees charged by Meridian and are paid to third parties such as the Revenue Commissioner, Land Registry on your behalf.
Typical outlays may include:
Stamp Duty
Land Registry Fees
Local Property Tax (LPT)
Searches fees
Your quote will provide an estimated breakdown of all anticipated costs so that you can budget with confidence.
When Will I Need to Pay?
One of the most common questions we receive is when money is actually required during the transaction.
For most purchases, payments are made in stages.
Stage 1
Sale Agreed
A booking deposit is paid directly to the estate agent. Usually between €8,000 to €15,000.
This is 100% refundable until contracts are signed.
Stage 2
Contract Signing
The balance of the contractual deposit is paid.
This is typically 10% of the purchase price less any booking deposit already paid.
For first time buyer availing of HTB, your HTB can be claimed at this stage against the balance. deposit.
Stage 3
Closing
Your legal fees, outlays and any remaining balance required to complete the purchase are paid shortly before closing.
Mortgage funds are typically drawn down one working day before or same day of closing.
