The next step is to sign a reservation contract. The contract is legally binding. When you sign the contract you will pay a deposit of 6 000€ and the seller removes the property from the market during a reservation period of 8-14 days.
Your solicitor then contacts the vendor’s legal representative to gather all documentation for the property and make sure that all licenses and permits are in order. It is important to check that there are no outstanding mortgages, taxes or other costs pending for the property.
Once your solicitor approves all documentation, the purchase contract can be signed. When signing it is normal that the buyer pays 10% of the total sales price.