Donegal Town auctioneer Keith Anderson presents at Dáil Éireann

Keith Anderson of Anderson Auctioneers, Donegal Town, was at Dáil Éireann on Tuesday presenting to the Justice Committee on the Seller’s Legal Pack for Property Buyers’ Bill 2021.

Mr Anderson was joined by fellow IPAV colleagues, Pat Davitt CEO and Lisa Kearney, President.

IPAV, the Institute of Professional Auctioneers & Valuers, told the Committee Ireland’s conveyancing system, the process for legally transferring property title from seller to buyer, dating largely from 1881, is so antiquated and unfit for the digital age, that unless legislators fix it, aspiring buyers will continue to see sales fall through, gazumping and mortgage approvals lapsing, among other issues.

IPAV said if the Bill becomes law the conveyancing system would become more efficient, secure and cost-effective for consumers whilst addressing inordinate delays.  

Specifically, it will: Provide full transparency and complete information to consumers up front; Offer early confirmation of property saleability and remove from the market those that can’t be sold, thus reducing failed transactions and associated costs; Cut conveyancing times, currently averaging four months, by up to 50%; Drive efficiencies similar to those in public auctions and online sales, where documentation is provided upfront and sales close within weeks.

The Bill aims to create a statutory obligation for a seller’s pack to be prepared in advance of a property going to market. This would contain documents such as contracts for sale, property deeds, planning documents and architect’s certificate of compliance with planning and building regulations.