Selling, buying or transferring a property

You are buying a property

The valuation for the property on 1 May 2013 applied up to 31 December 2021. The valuation for the property on 1 November 2021 applies for the years 2022 to 2025 inclusive. The valuation(s) must be reasonable.

What should you or your solicitor do before completion of the sale?

Before the completion of the sale you or your solicitor should:

  • Obtain any relevant information and supporting documentation from the seller. (property ID, valuation band or valuation, basis for their valuation and details of any exemption claimed).
  • Check whether there is any outstanding tax, interest or penalties in relation to that property. Any unpaid tax will attract interest.
  • Ensure there is no deferral on file.
  • Ensure that all deferred liabilities are paid together with the interest due.
  • Ensure that Household Charge is fully paid.
  • Consider whether the valuation declaration for the property is reasonable and honestly made. The buyer or their solicitor should address any concerns prior to the closing of the sale.

All sellers must obtain general clearance before completing the sale. Some must also obtain specific clearance from Revenue. The seller must provide this to the buyer.

If this is not the first sale since 2013, the seller must provide details of any clearance they hold for the earlier sale.

You, as the buyer, must ensure that the seller provides you with copies of the appropriate clearance(s). 

After completion of the sale

You may consider that the valuation(s) declared by the seller or previous owner on 1 May 2013 and or 1 November 2021 is not reasonable. If you consider the valuation(s) should be higher or lower, you should provide the following details to the LPT Branch:

  • The name and Personal Public Service Number (PPSN) of the buyer and new liable owner.
  • The property ID.
  • The property address.
  • Your own assessment of the market value and valuation band of the property as at 1 May 2013 and, or 1 November 2021. You must select the actual value if the property was valued at more than €1 million.
  • You must provide documentation in support of your valuation(s).

Next: You are transferring a property