News buzzing around the property market with talks of a game-changing law called the "Seller's Legal Pack for Buyers Bill 2021". Picture this: vendors providing all the necessary legal documents upfront before listing their property for sale! Sounds like a dream, right? Let's dive into what this bill is all about and how it could revolutionise the property buying and selling experience.
Now, before we get too carried away, let's clarify that as of August 2023, this bill is still making its way through the stages of the Dáil. You can see the current status of the bill and the bill's content by clicking this link.
So, what exactly is a Seller's Legal Pack? It's like a golden ticket for buyers, a comprehensive checklist of all the legal documents needed before a property hits the market. From title deeds to planning permissions, compliance certificates etc, this pack ensures that the property is squeaky clean from a legal standpoint.
However this bill isn't law just yet. It's still in the works, going through rounds of discussions and possible amendments. So, while we're excited about the potential, we'll have to wait and see how it all pans out.
But why all the fuss? Well, imagine this: no more sales falling through at the last minute due to pesky legal issues. With a Seller's Legal Pack in place, buyers can breathe easy knowing that all the necessary documents are readily available from the get-go.
And hey, it's not just buyers who will benefit. Sellers, estate agents, solicitors – everyone involved in the property game stands to gain from a smoother, more efficient process.
Now, let's talk about what exactly goes into this magical pack. We're talking contracts of sale, copies of planning permissions, building compliance certificates – you name it, it's in there. And that's just the tip of the iceberg!
What does a Seller's Legal Pack for Buyers Contain?
In the current version of the bill, a Seller's Legal Pack for Buyers should contain the following:
1.    Law Society Conditions/Contracts of Sale
2.    A certified copy of file & file plan or root of unregistered title
3.    An Architect’s Certificate of Compliance with planning permission
4.    An Architect’s Certificate of Compliance with building regulations
5.    A copy of all planning permissions and building regulations documents
6.    Receipts for financial conditions
7.    A letter confirming roads and services or evidence of rights of way and way leave including rights of access to, over or affecting the property interest, fishing rights etc.
8.    Local property history details
9.    A BER Certificate & Advisory Report Certificate of discharge or exemption from Non-Private Residence Charge
10. A report summary on planning search, judgement search, Compulsory Purchase, Order Search, bankruptcy search, Sheriff and Revenue Sheriff search, Registry of Deeds Search and company search.
As part of the proposed bill, a Seller's Legal Pack MAY also include the following:
1.    A property surveyor’s report or an engineer’s report
2.    Documentary evidence of any safety, building, repair or maintenance work as has been carried out in relation to the property prior to the property being advertised for sale
3.    Any warranty, policy or guarantee for defects in the design, building, or completion of the property, or its conversion for residential purposes;
4.    Information about the design or standards to which a property has been or is being built
5.    An accurate translation in any language of any pack document if so required
6.    An additional version of any pack document in another format, such as Braille or large print
7.    A summary or explanation of any pack document, including legal advice on the content of the pack or any pack document
8.    Information identifying the property including a description, photograph, map, plan or drawing of the property
9.    Information identifying the actual property interest, whether freehold, leasehold etc., or any further information that would be of interest to potential buyers of the property interest
10. Ground stability, the effects of mining or extractions or the effects of natural subsidence
11. Actual or potential environmental hazards, including the risks of flooding or contamination from radon gas or any other substance;
12. Telecommunications services
13. Sewerage, drainage, water, gas or electrical services
14. The potential or actual effects of transport services, including roads, waterways, trams and underground or over-ground railways or
15. Liabilities to repair or maintain buildings or land not within the property interest; and any other information where it would be of interest to potential buyers of the property interest.
So while the bill hasn't been passed yet, it's something to keep an eye on. And who knows? In the not-so-distant future, providing a Seller's Legal Pack might just become the new norm in the property market.
The thing to note up from what’s coming down the track is that, change is coming. It makes sense for agents and solicitors to be prepared so now is the time to get in the habit of booking your Compliance Certificates and Land Registry Maps early in the process.
Â
Book Your Compliance or Land Registry Map Now
Commentaires