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Orders for Sale

This is an expensive procedure, which takes a long time and should not be considered unless the debt is very large and there is no other way of securing payment.

It can be effective just to obtain the Order itself. This can spur some defendants into action and they may re-finance to pay you off or may sell the house voluntarily.

If you have to sell the house, the costs can be very high depending on how complicated the matter gets. It often takes a very long time to sell as the sale is conducted through the Courts and there are numerous meetings with the Examiner of the High Court who oversees the sale, and various applications need to be made to Court for assistance with the sale.

It may be necessary to obtain an Order for Possession and evict the debtor. You would also need to be sure that there will be sufficient monies left over to pay your debt and recover your costs after payment of the debtor's Mortgage and any Charges in priority to your Judgement Mortgage.

Sometimes the Mortgage will be in arrears, and where interest adds up there may be nothing left for you. Also, if the house is jointly owned it can still be sold without the consent of the other joint owner but your debt is recoverable only out of the debtor's share of the proceeds of sale.

If the property comprises a Family Home in which a dependent spouse and / or children is residing, the Courts may not grant an Order for Sale or may postpone it indefinitely.