Cosgrove Gaynard Solicitors

The Ultimate Guide for First-Time Home Buyers in Ireland (2026)

Property Conveyancing Explained Clearly — What First-Time Buyers Need to Know

Buying your first home in Ireland is one of the most exciting but complex financial decisions you will ever make. The legal process of buying property — known as conveyancing — is a critical part of that journey. This guide walks you through every stage, explains key stages and timelines, and gives practical tips that will save you stress (and money) and perhaps even the entire transaction.

Terminology explained

The below are an explanation of key terms used in the conveyancing process:

BER Certificate – Certificate confirming the energy rating for a property.

Caveat Emptor – “Let the buyer beware”

Closing and Drawdown – These are two different dates. Closing is the day you sign closing documentation and obtain the keys. Drawdown is the date the bank releases funds to your solicitor. In general, this is approximately two days before closing to ensure funds are received on time to be transferred for closing.

Contents– A list of items included in the sale. These should be listed in the contract.

Contract of Sale – The binding agreement between buyer (Purchaser) and seller (Vendor).

Conveyancing– The legal process of transferring property ownership.

Deposit– When you go sale agreed on a property, a booking deposit is paid. On signing contracts, a further balance deposit is paid to bring the total deposit to 10% of the purchase price (less the booking deposit already paid).

Exchange of Contracts – This is when both parties have signed and a deposit has been paid by the purchaser. Once contracts are exchanged, they are legally binding.

Freehold– Absolute ownership of both the property and the land it sits on.

Leasehold– Ownership of a property for a fixed period (the lease term), but not the land itself. The owner (lessee) pays ground rent to the freeholder (lessor).

Loan Clause – This is a clause we at Cosgrove Gaynard solicitors always seek to be included in a contract on behalf of a purchaser. The clause basically states that a purchaser can withdraw from the contract if they cannot obtain bank finance on closing. It means that a purchaser can withdraw from a contract if the bank retracts its loan offer without forfeiting their deposit.  

Local Property Tax (LPT) – A tax payable annually on residential properties.

Mortgage– A long-term loan used to finance the purchase of a property, with the property itself serving as security for the loan.

Mortgage Broker – A professional who works on behalf of the buyer to find and secure financing from a lending institution.

Mortgage Documentation / Loan Pack – Your lender issues a loan offer and a loan pack to your solicitor. You sign these when meeting to sign contracts. They generally include the loan offer, solicitor’s undertaking, and ancillary documentation.

Pre-Approval (approval in principal / AIP) – A formal assessment by a lender of a borrower’s income, assets, and credit to determine the maximum loan amount they qualify for.

Purchaser– You; the person(s) buying the property.

Qualification on Title – If there is an issue on title, your solicitor must obtain the lender’s consent before proceeding. This process flags the issue to the bank and seeks approval to proceed regardless.

Registration– After closing, the property must be registered by your solicitor in the Property Registration Authority.

Sales advice note (SAN) – A note issued by the estate agent confirming the sale agreed price and all parties involved including the solicitors.

Searches – Searches carried out by your solicitor prior to closing to confirm nothing adverse is registered against the property or the vendor.

Service Charge – A management company fee, most common with apartments.

Surveyor– The professional you hire to inspect the structure of the property, any works carried out, and the boundaries.

Title– The title to a property is not just the deed showing ownership by the vendor. It is usually a bundle of documents including historic title, planning permissions, architect’s certificates, and other ancillary documentation. Each property differs.

Valuer– Not the same as a surveyor. The valuer provides a valuation to the bank to confirm the property’s value relative to the mortgage amount.

Vendor– The seller of the property.

What Is Property Conveyancing?

Conveyancing is the legal term used to describe the process of transferring ownership of a property from the seller to you, the buyer. It involves a series of checks, legal paperwork, searches and registration with the Land Registry.

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Why It Matters

• Ensures you are buying a property that is legally sound.
• Confirms the title is clear (no disputes, mortgages, or defects).
• Legally protects you if issues arise after purchase.

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Step-By-Step Conveyancing Process

A. Mortgage Preparation

Before house-hunting, get a Mortgage Approval-in-Principle (AIP) from your lender. This shows the amount you can borrow and makes your offer more credible. An estate agent will often seek sight of this before going sale agreed.

B. Bidding process

In a strong property market, this can be a tedious process and often there can be a number of parties involved until a final bid is accepted.

C. Offer Accepted & Instructing a Solicitor

Once your bid is accepted you are sale agreed and the following happens:

1. If not already done, you formally appoint a solicitor at this stage.
2. The agent issues a Sales advice note to both the vendor and purchaser and also to both solicitors
3. The vendors solicitor then drafts the contracts and issues them to your solicitor along with a copy of the title documentation.
4. You notify your lender and they issue the formal loan pack to your solicitor
5. You arrange your survey

D. Title review

Once your solicitor receives the contracts and title, they will perform a full review. This generally takes circa 7 – 8 days depending on the title.

Once completed, at Cosgrove Gaynard solicitors we issue what is called “initial advices” to clients with a copy of the relevant title documentation required. In our advices we confirm the title being offered and also flag any title defects and indeed any queries being raised.

At the same time, we issue what are called “precontract enquiries” to the Vendors solicitors. This is a list of queries on the title or requests for documentation not included in the documentation sent with contracts.

Once your solicitor has received all of the required documentation, they confirm to you if there are any defects to note. If there is an issue, your solicitor will contact the bank to obtain a qualification on title and inform you of that process separately if required.  

E. Signing the Contract

Assuming all is in order with the replies to precontract enquiries, your solicitor will confirm and at that stage you arrange to meet your solicitor :

• To sign the contract and mortgage loan documentation
• At this stage the balance deposit is also payable.
• Closing date is set and included in the contract

Warning: Once contracts are signed you are legally bound — backing out means losing your deposit unless a loan clause is negotiated into the contract by your solicitor.

F. Post signing contracts

Mortgage Drawdown & Final Steps

You will at this stage need to arrange all items required by the lender for drawdown including your mortgage protection/ life insurance, house insurance etc. Your broker/ bank manager will confirm the items required from you.

Your solicitor works with your lender to complete the final steps to drawdown your funds in sufficient time for closing.

The drawdown date is the date your mortgage funds are released to the bank and this is generally 2/3 days before the closing date.

G. Closing documentation  

Your solicitor will draft the closing documentation and issue these to the vendors solicitor prior to closing along with a list of closing requirements.

At this stage the vendors solicitor will also confirm the balances of LPT and service charges(if applicable) and provide an apportionment account to your solicitor to be included in the final purchase price.  

H. Closing statement

Your solicitor will issue you with a final completion account setting out the balance to be sent over for closing including fees and outlay and also included the apportionment amounts mentioned above.

I. Completion  

On completion, you will meet your solicitor again to sign closing documentation transferring the property legally into your name.

Your solicitor will have transferred the balance funds to the vendors solicitor on time for closing and will receive the full title documentation in exchange.

Your solicitor will have arranged closing searches for that morning which will confirm if there are any adverse items on title and once clear, the transaction can formally close. At this stage you can then collect the keys from the estate agent.

J. Registration

After completion, your solicitor still has work to do. They have to discharge the stamp duty payment to revenue and thereafter have to lodge the closing documentation for registration in the property registration authority.

K. Post registration

Once registration completes, your solicitor returns the title deeds to your lender who hold the originals as security for the term of your mortgage.

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