Property buyers experiencing 'unwarranted delays'

Property buyers experiencing 'unwarranted delays'

The Institute of Professional Auctioneers & Valuers (IPAV) are meeting with the Law Society today to discuss the delays faced by property buyers.

The group, who represents almost 1,000 auctioneers, found in recent IPAV report that more than 60% of their members were experiencing 'unwarranted delays' of up to in conveyancing, with buyers having to wait an average of almost four and a half months to close their sales.

Delays were attributed to an unwillingness by solicitors to communicate by email or telephone, preferring instead to use tradition letter writing.

The IPAV Chief Executive Patrick Davitt said that it is causing problems for both auctioneers and customers.

"People are coming into our members' offices and they're asking: 'Is there any news?' and 'What's happening? How come I bought this property off you three few months ago and we still can't close it?'," he said.

"It causes problems. The longer this goes on with no actual form of contract signed, it leaves gazumping.

"Gazumping can happen, because until such time as the property contract is signed by both parties, if the auctioneer gets a bid on the property, they still have to go back to the vendor with the bid - it's the law."


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