Auctioneers concerned over Nama exclusion

A MAJOR auctioneering body has expressed concerns about the possible exclusion of Irish property valuers from the State’s new toxic debt agency.

The Institute of Professional Auctioneers and Valuers (IPAV) is to write to the Minister for Finance seeking clarification on its role, if any, in the work of the new National Assets Management Agency (NAMA).

According to Alan Redmond of IPAV it appears that Irish agents are to be excluded from the process of assessing toxic debt, because agents were seen to have caused price inflation during the property bubble.