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From approval to closing 

Your home-buying journey from approval to keys

Once you have approval in principle (AIP), the process runs from offer to keys. Make an offer and pay a holding deposit to go sale agreed, noting this is not legally binding. Next, get full approval and your Letter of Offer, arrange a valuation or survey if warranted and have your solicitor run title checks.

You then sign contracts and pay your main deposit, put mortgage protection and home insurance in place and transfer funds for stamp duty and registration. Your solicitor requests drawdown of funds, completes closing and the funds are sent to the seller’s solicitor. You then collect your keys. 

Clear communication makes the whole mortgage process smoother

It is essential to keep in regular contact with your solicitor, mortgage provider or broker and the seller’s estate agent to avoid delays. Communication is key here. Always be clear on timelines and approval expiry. 

What is Approval in Principle (AIP)?

Before you start looking at properties, you should apply to mortgage providers to get ‘approval in principle’. This means you know if you will get mortgage approval and how much you can borrow. It will be an advantage to have this when it comes to making an offer on a property, and some estate agents may require it. 

Note: Getting approval in principle does not guarantee you’ll get the mortgage. Mortgage providers carry out two rounds of checks – the first to give you approval in principle and the second before issuing full approval. They will fully review your finances again and make sure the property meets their requirements before giving final approval.

Once these final checks are completed and your offer on a property has been accepted, you will receive a letter of offer, which confirms that your mortgage has been fully approved.

How long is approval in principle valid?

Mortgage approval is only valid for a certain period, typically from 6 to 12 months, depending on your lender.  If you don’t find a property within this time period and your circumstances have not changed you may get an extension. The interest rate on the mortgage is set on the day the money is drawn down, so it could be different to the rate shown on your mortgage approval.

Shop around for your mortgage protection and home insurance when you are applying for a mortgage. Remember that you don’t have to buy these from your mortgage provider even though they may offer them.

Use the CCPC Mortgages money tool to compare types of mortgages and interest rates from all main mortgage providers.

Top tip

Many lenders offer incentives such as cashbacks, but it is important to look beyond the headline offer and check the long‑term cost.

Mortgage cashback usually comes in two forms:

  1. Lump‑sum cashback is a one‑off payment you get at the start of your mortgage, often used to help with upfront costs.
  2. Ongoing cashback is paid monthly as a small percentage of your mortgage for a set number of years.

A lower interest rate can be better value than cashback, but this is not always the case. For a short fixed‑rate period, the cash you receive up front may sometimes work out better. Before accepting any incentive like cashback, you should always:

  • Calculate the total cost over the full mortgage term, and
  • Calculate the cost over the fixed‑rate period

You can use the CCPC mortgage comparison tool to see what cashback incentives are available. If you are unsure, speak to your mortgage provider or a mortgage broker to get a clearer picture of which option best suits your situation. 

What happens after approval in principle?

Approval in principle is only the first stage. Assuming you have identified the home you want to buy, you make an offer. There is likely to be bidding at this point, so be clear on how much you can afford to spend and keep in mind all of the other expenses you will incur. Go to our negotiating price and online bidding page for more. 

Once your offer to the seller/vendor is accepted, the estate agent will usually ask for a holding deposit – typically around €5,000 to €15,000, depending on the property’s value. This is a sign of commitment and moves the sale to “sale agreed”. 

“Sale agreed” is not legally binding

After your offer is accepted, the estate agent sends a sale details document to both solicitors. It lists the price, sale conditions, estimated closing date (the day you get the keys) and contact details for everyone involved.  

The seller’s solicitor then sends your solicitor the contracts and a copy of the title deeds. Title deeds are legal documents proving property ownership, updated each time the property changes hands.

Note:  Until contracts are signed, either the buyer or the seller can withdraw from the sale without penalty.

Property sale “fall-throughs” happen frequently due to:  

  • Planning compliance issues 
  • Title problems 
  • Mortgage delays 
  • Conveyancing complexities 
  • Changes in buyer circumstances 
  • Mortgage approval lapses 
  • Survey problems

This means that large numbers of property sales that reach the “sale agreed” stage do not complete every year. Manage your expectations and always have a back-up property list so you are ready to make an offer on the next best property. 

Even when you’re “sale agreed”, the seller can still consider other offers

If another offer is received, the estate agent is legally required to promptly pass it on to the seller. Until contracts are signed, the seller remains free to change their decision and accept a later offer. Any agreement reached before contracts are finalised is not legally binding, so the sale can still proceed with a different buyer at that stage. For more, visit Gov.ie. 

Average time from sale agreed to closing

Again, you will have to manage your expectations here. The average length of time from sale agreed to closing in Ireland is typically 8 to 12 weeks, though it can sometimes take longer depending on the complexity of the transaction, solicitor efficiency and whether all documents are in order. Delays can occur if there are issues with paperwork, mortgage approval or an issue in the property chain. 

In a chain: To be “in a chain” means your property sale or purchase depends on other linked transactions completing. For example, you might be selling your home to buy another, and the person you’re buying from is also waiting to complete their own purchase. If any link in the chain falls through, it can delay or collapse the entire process.

Steps to closing your home purchase

Once your offer is accepted, there are several key stages before you get the keys:

1. Property offer accepted – sale agreed

Once the seller accepts your offer, the sale moves to sale agreed. This is an important milestone, but it’s not legally binding yet. At this point, you’ll pay a holding deposit and get a receipt from the estate agent – request it by email so you have a record of it.

The deposit is kept in an "escrow" account – a secure account managed by a third party until the sale conditions are met. It stays there until contracts are signed or the sale falls through. If the sale doesn’t proceed, the deposit is usually refunded, but you should always confirm these terms with the estate agent. 

2. Full approval (Letter of Offer)

After your offer is accepted and the sale moves to “sale agreed,” the next step is securing full mortgage approval. At this stage, your lender does another round of checks to confirm everything is in order. These include:

  • A property valuation, which you pay for, typically around €150 to €250.
  • Legal checks by your solicitor.
  • Another review of your finances: The lender re-checks your finances to ensure nothing has changed since the initial approval – for example, no new loans, stable employment and updated bank statements.

Structural survey: 

If the building is more than 100 years old, some mortgage providers may require an independent structural survey before issuing a formal Letter of Offer. This is to ensure the property does not present a higher risk for the mortgage provider. It is usually €400–€800, depending on property size and complexity.  

Even if your lender doesn’t insist, getting a survey can give peace of mind by checking for hidden issues. A quick “walkaround” inspection – a visual check with no written report – typically costs €150 to €250.

The Society of Chartered Surveyors Ireland (SCSI) provides a “Find an Expert” tool where consumers can search for building surveyors, quantity surveyors, valuers and other registered surveying professionals.

Once these checks are complete, the Letter of Offer sets out the mortgage details, property information, conditions and expiry date. A copy goes to your solicitor along with legal paperwork.

 3. Signing contracts and paying your main deposit

At this point, your solicitor reviews the contracts and explains the details to you. Don’t be afraid to ask questions at this point. If everything is in order, you sign them and pay your deposit (usually 10–20% of the purchase price, less any booking deposit). Your solicitor holds this for you in an escrow account. 

Your solicitor sends the signed contracts and deposit to the seller’s solicitor. When the seller signs and returns a copy, both parties are legally bound.

4. Insurance and compliance

Before drawdown, you must have mortgage protection insurance and home insurance in place. Your solicitor confirms this to the mortgage provider. Mortgage protection insurance is a type of life insurance. It is specifically designed to pay off your mortgage if you die during the term of the loan. Most mortgage providers require you to have mortgage protection in place before they will issue your mortgage. 

 5. Stamp duty and Local Property Tax

Your solicitor arranges payment of stamp duty and any other closing costs, such as registration fees and Local Property Tax (LPT) checks. Stamp duty is a tax you pay when buying property in Ireland. It’s calculated as a percentage of the property’s purchase price and is paid to Revenue through your solicitor before closing.

  • 1% on the first €1 million of the property’s value 
  • 2% on the portion above €1 million and up to €1.5 million 
  • 6% on any amount above €1.5 million 

You need to transfer these funds to your solicitor before closing. Your solicitor will check that the Local Property Tax (LPT) is up to date as part of the conveyancing process. However, it is your responsibility as the new owner to register for and pay the LPT on the property, and ensure it is paid going forward. You do this through Revenue. 

6. Registration fees

Your solicitor officially records that you own the property and that the mortgage provider has a legal interest in it, using the Land Registry or Registry of Deeds. Fees typically range from €400 to €800. Get more information on registration fees.

 7. Drawdown and closing

Your solicitor requests the mortgage funds from the mortgage provider once all conditions are met. The mortgage provider releases the funds to your solicitor, who transfers them to the seller’s solicitor (minus the holding deposit you gave to the seller’s estate agent) on closing day.

 8. Collect your keys and move in

Once funds are transferred and the sale is closed, the estate agent gives you the keys. The property is officially yours. If you’re not moving in straight away, make sure the property is secure and insured. Consider changing the locks for peace of mind.

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