Real estate due diligence is a common practice amongst all Irish lawyers, which is recommended to persons interested in buying properties in Ireland. Real estate due diligence represents a detailed analysis of a property a client wishes to buy; the analysis is performed by a lawyer, in order to determine if the legal status of the property won’t represent a liability for his or her client.
As Ireland has become a very good market for foreign investors, commercial real estate due diligence also became a popular practice. If you are interested in buying a real estate property here, for commercial or residential purposes, our law firm in Ireland can help you throughout the process, concluding whether the property you are interested in presents certain risks.
Real Estate Sector in Ireland
According to a report of a commercial real estate company, released in September 2015, the real estate sector in Ireland is on the rise. Important real estate transactions are given the proper care and lawyers are carrying out due diligence procedures to determine possible flaws. It has been estimated that in the next months retail investments opportunities will reach the value of 400 million EUR, and the same value is expected in office investments.
Investors can watch below a presentation referring to real estate due diligence in Ireland:
Due Diligence Carried Out by our Irish Lawyers
When buying real estate in Ireland, our Irish lawyers will carry out an investigation on the documents of the property, but also on legal aspects regarding the seller and the property he or she is selling, such as:
•verifying the documents;
•finding out if the seller is in any bankruptcy procedures;
•verifying the documents registered at the Sheriff’s Office;
•checking if the seller is having any trials at the Irish Courts.
An audit must be done on the structure of the property (performed by an architect) and, if necessary, an environmental report, undertaken by an environmental consultant.
The Irish law firm hired to verify if the property represents a good investment, will also have to check if there are mortgages on the house and unpaid bills.
If you are interested in purchasing a real estate property in Ireland, please contact our Irish lawyers, who can give you proper advice on this matter. Our law firm can provide real estate due diligence procedures as well as other legal procedures related to the purchase of a property.
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