The Buying Process

Buying a Lioncor New Home

Discover more about Lioncor and what we've built in Dublin, Wicklow, Galway, Limerick and now Cork Lioncor Developments

Consider your location and budget

Seek Impartial Financial Advice: The first step in finding your new home is to seek impartial financial advice and establish your budget. Our sales agents can put you in touch with an independent financial advisor and they will provide guidance on your budget and any suitable financial products that are available to you.

A bank will give you an Agreement in Principle (AIP) which will give you an indication of your budget.

Once you find your perfect Lioncor home

Pay a Booking Deposit: You will need to pay a €5,000 booking deposit to secure a new home at Richmond Rise. The booking deposit is paid to ERA Downey McCarthy.

Please note the booking deposit is fully refundable up until legal contracts are exchanged.

The next steps

Instruct your Solicitor: Once you decide on the particular property and you have paid your booking deposit the estate agent will also request details of your elected solicitor.

A copy of the contract will be issued from the Lioncor legal representative to your elected solicitor in the days after the initial reservation. You have 21 days to sign the legal contract from the date of issue.

Your selected solicitor will review the full contract, raise any contractual queries with our solicitor and once satisfied will invite you in to sign contracts. This is normally done in your solicitors office.

On signing of contracts you will be requested to pay an additional sum which is either a fixed amount or a percentage of the overall purchase price. This additional amount is known as the contract deposit and is paid to your solicitor.

Advise your lending institution of your chosen property:

You will be asked for all of the particular details relating to the property in order that bank can draw up the formal loan pack and carry out a valuation on the property. You will also need to think about life assurance as this is required by all lenders. Your lender or broker will assist you with this.

Apply for the Help to Buy Incentive: (If applicable) All information is available on the Irish Revenue Website. You will be asked to provide an application code once the HTB application is approved.

Exchanging contracts

Exchange of Contracts: Once your solicitor is satisfied with all the details contained within the legal contract and they are in receipt of your formal loan pack you will be asked to sign the contract in the presence of your solicitor and pay the contract deposit as above.

At this point you are legally obliged to purchase the property and your deposits are no longer refundable.

*HTB Purchaser:  Post exchange, please request your solicitor sends you a copy of the signed contract. Log on to the Irish Revenue Portal and upload the signed contract. We ask that you forward the HTB Access Code Claim Number and the  you receive to the sales agent. This information is required by Lioncor to request the HTB Funds. This information is required directly post exchange.

Waiting for your new home to complete

Between contracts exchanging and snagging: There is protracted time to wait between exchange of contracts and the snagging of your property ie: when your new home is ready for inspection.

This time period is when the contractor is finishing out the home and the time frame varies. Our agent will advise you of an approximate time frame for completion of your home but please be aware that the building process is subject to many external factors from weather to large scale deliveries and this date is subject to change.

If living in rented accommodation or in any situation where notice is required please do not give notice until you are invited to snag.

Snagging

*Snagging: The process of checking a new building for minor faults that need to be rectified.

Once your property is completed by our contractor we will invite you to snag the property. The contractor will make good the snag items and you will then be re-invited to inspect your future home and sign-off the house as complete. Typically the snagging process takes 14 days.

Completion

Once the snagging is complete and you are satisfied with the property your appointed solicitor will request all remaining funds to be drawn down (mortgage and/or cash). This can take up to 14 days, depending on the lending institution and various banking transfer times.  

Your purchase will formally complete when all funds due are with Lioncor solicitors and that all legal searches have been carried out to the satisfaction of your solicitor.

Key handover

A member of the Lioncor customer services team will contact you to advise you where keys can be collected, generally speaking this is on site.

Utility transfer

Electricity: All services (electricity and water) are connected to your new home. An electricity meter reading along with your MPRN (your individual electricity meter number) will be provided to you on closing. Please note there is no gas at Richmond Rise.

At this point you can continue the subscription with the provider we have used or open a new account with any of the other providers in the market. We recommend that you carry out some research as to who is the best value at the time of closing.

Irish Water: We request you register directly with Irish Water https://www.water.ie/contact-us/. Currently there is no charge for the service but they do need to know who lives in the home in the event there are any issues with water quality or supply.

Bins: You will need to open an account with a local refuse collection service provider.

Internet and Telecoms: Your home is wired for internet and telephone, please contact the relevant supplier to make connection.

Aftersales

For any addition questions or should you wish to report an issue we have a dedicated Customer Services Team.

Please complete the online form and a member of the team will be in contact with you.

We hope you have found the above information helpful.