Saint Patrick's Day or the Feast of Saint Patrick, is a cultural and religious celebration held on 17 March, the traditional death date of Saint Patrick, the foremost patron saint of Ireland.
It was emigrants, particularly to the United States, who transformed St. Patrick’s Day into a largely secular holiday of revelry and celebration of things Irish. Cities with large numbers of Irish immigrants, who often wielded political power, staged the most extensive celebrations, which included elaborate parades.
So just imagine you can purchase a plot of land in the timeless Irish land as unique gift for ST. Patrick's Day.
Ireland is a welcoming nation, a land of natural beauty and charm, but also one that offers good potential for those seeking to buy a second home, to invest or to retire. There are no restrictions on foreigners buying residential property in Ireland. But buying property does not give you a right of residency. Both the United Kingdom and Ireland are separate to the European Schengen Visa zone, operating their own common travel area. Generally, a visa granted to visit the UK will allow you to visit Ireland, and the same generally holds true for being granted an Irish visa to visit the UK. UK, EU or EEA nationals can stay as long as they wish. Generally, Irish authorities will grant a visit visa to non-EU or EEA nationals for 90 days, allowing you to travel to the UK without restrictions during that period.
Once you find a suitable property, make an offer and engage the services of a solicitor. The offer does not legally bind you to buy. When your offer has been accepted, you may if you wish, arrange for a survey for early detection of potential problems. Your solicitor will then draft the Deed of Conveyance, which is the document that transfers the property into your name. This will be sent to the seller´s solicitor for his approval.
The vendor´s solicitor will then draw up a contract for the sale of the house. Once your solicitor has reviewed this contract and is satisfied with it and to the title of the property, you are now in a position to sign contracts.
At this point you hand over a non-refundable 10% deposit. Estate agents are involved in the transaction until seller signs a contract with a chosen buyer. The conveyancing of the property usually takes 6 to 8 weeks.
Stamp duty should be paid now, and then the sale of property is registered at the Land Registry Office or at the Registry of Deeds. Depending on the title to the property this can take up to another six months.
The solicitor will determine the nature of the title to your property. The costs incurred will depend on whether the title is held in the Land Registry or the Registry of Deeds. The Land Registry provides the system of compulsory title registration. The register is conclusive evidence of title to property and any right, privilege, appurtenance or burden appearing thereon.
On the other hand, the Registry of Deeds provides the system of voluntary registration for deeds and conveyances. The document filed in the Registry of Deeds is a memorial which is essentially a synopsis of the deed and also other statutory requirements.
Footnotes to Transaction Costs Table
The round trip transaction costs include all costs of buying and then re-selling a property - lawyers´ fees, notaries´ fees, registration fees, taxes, agents´ fees, etc.
Stamp duty in Ireland is levied on property transactions and is payable by the buyer. The applicable stamp duty rates depend on the market value of the property.
Value Added Tax (VAT)
Value Added Tax (VAT) is levied at a standard rate of 23%, effective 01 January 2012.
Real Estate Agent´s Fee
Although nominally paid by the seller, real estate agent´s fees are usually included in the asking price, thus, effectively paid by buyers. Buyers pay a separate fee if they acquire the services of an auctioneer to purchase the property on their behalf. Auctioneer´s fee varies from 1% to 3.5% of the selling price, plus 23% VAT.