The principal of caveat emptor is an important Latin phrase for “let the buyer beware” the premise of this principal is that the purchaser buys at it his own risk and therefore should fully satisfy themselves as to the nature and condition and quality of the property prior to signing contracts.
It is vitally important that you the purchaser engage the services of a fully certified and qualified property surveyor or engineer to carry out a full structural survey of the property before entering into the contract for sale. The instructed surveyor/engineer will carry out a thorough inspection of the property and complete a comprehensive report on the building which will identify any significant issues, structural, planning, cosmetic or otherwise, that could lead to substantial expense to the intended purchaser.
There are no warranties with a second hand property and therefore, it is imperative that you know the state and condition of the property prior to contract. The onus is on the purchaser to carry out all necessary enquiries in respect of the property, purchasing a property is a huge financial commitment and the cost of a full structural survey on the property is a small price to pay to ensure that you have made a sound investment.
We can be contacted at McElhinney & Associates, Drumboe Lodge, Stranorlar, Co. Donegal on 074 91 75989 or [email protected]
*In contentious business a Solicitor may not calculate fees or other charges as a percentage or proportion of any award or settlement.
**This information is for guidance purposes only. It does not constitute legal or professional advice. Professional or legal advice should be obtained before taking or refraining from any action as a result of the contents of this publication. No liability is accepted by McElhinney & Associates for any action taken in reliance on the information contained herein. Any and all information is subject to change.