What Happens After You Go Sale Agreed? (Behind the Scenes)
Tea & Mortgage Podcast
You’ve gone sale agreed – great news. But what actually happens next?
This is the stage where the real work begins behind the scenes: contracts move, valuations are ordered, your solicitor steps in, and the bank starts its final checks. Each step has its own timeline, its own dependencies, and its own potential bottlenecks. Understanding what happens between “sale agreed” and “keys in hand” removes the guesswork, reduces stress, and helps you keep the process moving smoothly.
In this episode, John Coleman of JC Mortgages walks you through the real step-by-step process after going sale agreed in Ireland, so you know exactly what to expect from that point right through to getting your keys.
From legal work and mortgage drawdown to surveys, valuations, and timelines – this is the behind-the-scenes breakdown most buyers don’t fully understand (until they’re in it). ☕ In this episode, we cover: • What “sale agreed” actually means (and what it doesn’t) • The role of your solicitor after going sale agreed • Mortgage approval, valuation, and loan offer • Surveys, snag lists, and potential delays • What can go wrong – and how to avoid it • Timeline from sale agreed to closing day
Podcast Transcription
The Vacuum of Information
Norm Schriever: Hey everyone, what’s going on? This is Norm here with John Coleman of JC Mortgages, and we have for you today Tea & Mortgage podcast episode number 41. So how are you, John? Good to see you again, mate.
John Coleman: Good to see you! 41 and counting, buddy.
Norm Schriever: Yeah, we’re getting up to that magic number 50, huh? Anyway, what do you have in store for us today, my friend? Today we’re going to talk about something that’s definitely important for anyone who’s buying a property in Ireland, but you don’t find enough good information about it—whether you’re searching online, on YouTube, or what have you. This is about what happens after you go “sale agreed,” and you made an important distinction before we started filming.
John Coleman: Well, yeah, that’s the moment where, as you said, there is a vacuum of information. And it may not even be a vacuum; you may have gotten that information, but your mind has gone elsewhere. Your mind has gone entirely to the point of trying to find a home. And then suddenly you’ve found a home, and your first thoughts are, “Oh God, what happens next? How does it all play out?”
Now, there is a difference in the process depending on if you’re buying a new property versus buying a second-hand property. I’ll talk through them in general terms first, and then I’ll bring out the specific differences.
The Initial Process: Booking Fees & Solicitors
John Coleman: The first thing you’re going to do is pay a booking fee. That booking fee could be €5,000 to €7,000. That’s just the process of going “sale agreed.” I often get asked the question, “Is it OK to pay it?” And I will always say, “Absolutely, pay the booking fee.” Once you pay the booking fee, the property basically comes off the market, whether it be new or second-hand.
You’re not legally committed at that point. You can still change your mind, and everyone needs to be aware of that. That booking fee is 100% refundable.
So, you pay your booking fee. You then give the estate agent the name of the solicitor you’re going to use. What happens next is they will send out the contracts to your solicitor. You will basically be able to sign the contract, but only when you have a legal loan offer from the bank.
Norm Schriever: Okay.
John Coleman: At that stage, when the contract goes to the solicitor, that process normally takes three to four weeks. So that’s when you’re at the point of literally having to get a formal loan offer from the bank. And that’s where stress can really escalate. Especially if some people buy houses and they haven’t got the bank to say “yes” yet. That adds to quite a stressful situation.
Norm Schriever: The pressure is on.
John Coleman: The pressure is on, especially when it comes to getting paperwork together. I always say to people, you’ll never lose money because your booking fee is fully refundable, but there is an emotional cost to the time. Being organized is certainly of great value.
Imagine this: you’ve agreed to buy a home, and then in the background, they’re turning the screw by putting pressure on, saying you have to sign a contract within three weeks. Now, that’s always a bit of a misnomer; they’re not going to tell you that you have two months to sign a contract, because then you’ll take three! So they try to put a tight deadline to encourage people to move quickly. But it’s literally only at the point of signing contracts that you are actually fully committed to the purchase.
Whether it’s new or second-hand, you put a booking fee down, you give them the name of a solicitor, and the contract will go to the solicitor. The solicitor will check the details of the contract to be sure they are happy. When you have a loan offer from the bank, your solicitor will let you sign both the contract and the loan offer at the same time, and then you will pay your deposit. By signing the loan offer, you’re not fully committing to go with that bank, by the way. That’s an important point. But that is the process, and then you’re working towards a closing date.
Buying a New Property: Waiting & Subject to Finance
John Coleman: So let’s take a new property to start with. You could be buying a new property and it hasn’t even started to be built yet.
Norm Schriever: Yeah.
John Coleman: So you’re waiting for six, nine, or twelve months sometimes for the actual property to be built. You’re still going to have to sign the contract, and given the length of time involved, you’re not necessarily going to go with the bank that you chose at the start. That’s our role: it’s the rates that are available when you come to close the deal that matter, not the rates that are available at the point of purchase.
But you still need a loan offer to sign the contract. If you feel there’s going to be a delay, you’d get the solicitor to put a clause in saying “subject to finance.” Your loan offer usually has a six-month life period, and if something happens after six months, you need to be able to protect yourself. The solicitor will do that for you.
So the time between going “sale agreed” and actually getting the keys to your new house is kind of outside your control. But the initial process is the exact same: you pay your booking fee, you give them a solicitor, you sign a contract once there’s a loan offer on the table, and then you wait for it to be built. While it’s being built, we would have you look after your insurance and all the conditions that might be attached to the loan offer.
Buying a Second-Hand Property: Surveys & Chains
John Coleman: For a second-hand property, you’re obviously not waiting for it to be built. The first thing that you need to think about with a second-hand property is: “Do I need to organize a survey?” A survey checks to see if there’s anything that needs to be fixed. You may not be able to recognize an issue with an untrained eye, but a professional will look at the property and tell you if there are issues.
When the survey comes back, you might go, “Oh, that’s going to cost me a lot to fix.” Do you try to renegotiate, or do you walk away? If there are immediate things that need to be fixed, the banks will want to know the costings, because they need to see funding for that level of work.
Again, the process is the same. You pay your booking fee, you wait for a loan offer, and you sign a contract. If everything’s okay, it can happen in a much quicker timeframe. However, when buying a second-hand property, it’s always important to get an understanding of the closing date from the sellers. If they are selling but trying to buy another property at the same time, you are then at the mercy of a chain.
Norm Schriever: Oh, yeah.
John Coleman: You hear of circumstances where you’re waiting for two to three months, and then suddenly the people who are selling you the property can’t find something and they just give up.
Norm Schriever: Okay, and they go, “We’re going to stay where we are,” or their financing falls through. Anything happens.
John Coleman: And then you’re left stuck! So I always advise people: make sure you find out the circumstances behind why the property is being sold. You want to make an informed decision. For example, if you have two similar properties, but one is in probate because people are waiting on an inheritance, and the other is owned by people trying to buy another property, I’m going for the probate one. The estate agents are not obliged to tell you, but it is something you should definitely ask about.
Back to the process: booking fee, solicitor, contracts. The solicitor checks the contract to make sure the property has a “sound” or “clean” title. They ensure the maps are basically in line with what the contract says, so there can be no boundary disputes later. Your solicitor is basically God in this process! They make sure you’re buying something with clean title, they get the money from the bank, and they pay the money to the seller’s solicitor. They have a massive role.
Common Mistakes & The Importance of Patience
John Coleman: In the background, we’ll be looking at the insurance side of things. If there are any health issues, it’s worth getting that looked at immediately because having life insurance or mortgage protection is one of the mandatory conditions of a mortgage. We start that conversation even before a loan offer gets issued.
Norm Schriever: Super important. You’ve mentioned a lot of different things regarding the differences between new and second-hand properties. What is one of the biggest mistakes you see people make again and again when it comes to this process?
John Coleman: Interesting question. The mistakes people make are normally before this point, because we don’t let people make mistakes once they’re here! Our role is to make sure there are no mistakes. But sometimes buyers don’t figure out the total money required. They agree to buy the house, but they don’t factor in money for stamp duty, legal fees, work that needs to be done, or furniture for a new property. So they might ask, “Do the numbers stack up? Do I actually have the money to make this happen?” That’s a mistake people make on the financial side.
The hardest thing—and I say this as a guy who isn’t patient—is that they need to be slightly patient in the process. You bought a house today. I’d have the same mindset: “I want this sorted right now.” But it does take time. The bank isn’t going to issue a loan offer in a day, and the solicitor isn’t going to check the contracts in a day. That process takes two to three weeks to get a loan offer out, assuming there are no niggly things the bank asks for.
Norm Schriever: Yeah, and two to three weeks when you’re going through something that intense and emotional is shockingly long. It’s like dog years.
John Coleman: If your solicitor isn’t communicating with you—you’ve sent a message asking if they have the contracts and heard nothing—you’re going, “Oh, what’s happening?” The advice I always give people is to be communicating with the sales agent. Their role is to chase down the seller’s solicitor to make sure the contracts have gone out. Then you can chase your own solicitor with speed. And they can always chase us because we will always communicate. That’s ultimately what we’re here for. We view our role not just as getting a mortgage, but being on your side to take some of that emotional weight and the “Oh my God, what am I doing?” feeling away.
Holding Your Hand to the Keys
Norm Schriever: It’s like having a great coach. Things are organized, there’s a plan, there’s a strategy. The timing is correct. Someone is looking out at the whole pitch—making sure everything is moving along correctly.
John Coleman: That’s why people engage with JC Mortgages. We hold your hand and get you to the point where you’re getting the keys. We take great pleasure in that. In truth, it’s my team who look after it more than I do! My role is the educational piece, discussing rates, and the exciting stuff. Then I have a great team who manage the whole process in the background.
Norm Schriever: Fantastic. Well, that’s “sale agreed.” If anyone has any other questions, they can contact you, read your informational pieces, or look at your roadmap to become well-informed before going through the process.
John Coleman: Fantastic. Thanks, everyone.
Norm Schriever: Tea & Mortgage 41. Thank you, John. Cheers, my friend. Talk to you soon.
John also highly recommends you read this book, Take Control of Your Business by Eamon O’Sullivan
https://osamcquillan.ie/product/take-control-of-your-business/
As always, please contact us if you have any questions you may have.
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