| 67 South Mall, Cork, Ireland |  |
tel: 00353 (0) 21 4279800 | |
fax: 00353 (0) 21 4279810 |
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| 4. Draw-down of loan cheque
Prior to closing the Purchasers' Solicitor requests the loan cheque from the relevant Lending Institution. It is vital for the Purchasers to ensure that matters such as the Direct Debit Mandate, Life Assurance and House Insurance are in place as these can delay the issuing of the loan cheque and consequently delay the closing. 5. Completion The Purchasers' Solicitor will already have advised of the fees and outlay payable. When the loan cheque is to hand, the Purchasers will arrange to discharge the costs and outlay. The Purchasers' Solicitor orders searches against the property and against the Vendors and Purchasers. These searches ensure that there are no undisclosed burdens registered against the property and that the Vendors and Purchasers are not bankrupt. The Purchasers' Solicitor is then in a position to complete the transaction and that the Purchasers receive their keys. 6. Post-Completion Following the completion of the transaction, the Purchasers' Solicitor arranges for the Revenue Commissioners to stamp the Purchase Deed and the Mortgages (if applicable). The Deed and Mortgages are then sent off for registration. On completion of the registration, the Purchasers' Solicitor sends the Title Documents off to the Purchasers' Lending Institution who will hold the Title Documents until the Purchasers' Mortgage has been paid off. back |
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| © Sean O'Riordan Solicitors 2001 | Disclaimer | ||
