Leitrim estate agents push for urgent property law reform at Leinster House

On September 3rd, estate agents from across Ireland,  including Mervyn Lloyd from Mohill, Co. Leitrim, joined forces at Leinster House to advocate for urgent changes to Ireland’s outdated property conveyancing system. Mervyn Lloyd, a board member of the Institute of Professional Auctioneers & Valuers (IPAV), and his colleagues are pushing for the Seller’s Legal Pack for Property Buyers’ Bill 2021—a piece of legislation designed to speed up property transactions and tackle inefficiencies that currently cost buyers and sellers time and money.

Ireland’s property conveyancing laws, some of which date back to 1881, have long been criticized for being slow and outdated. On average, it takes four months to complete a property sale, leaving many buyers vulnerable to issues like expired mortgage approvals and unexpected legal complications. According to Mervyn Lloyd and his fellow estate agents, these delays are responsible for a significant number of failed property sales each year. Some estimates suggest that up to one-third of properties on the market are unsaleable due to unresolved legal or planning problems.

The Seller’s Legal Pack Bill seeks to overhaul the system by ensuring that sellers prepare a complete set of legal documents—such as property deeds, planning approvals, and compliance certificates—before putting their property on the market. This upfront transparency would drastically reduce delays, making the buying process more efficient and potentially cutting the average conveyancing time by up to 50%.
The bill has widespread backing from industry leaders. Pat Davitt, IPAV’s Chief Executive, stressed that the current system is no longer fit for purpose. “This legislation will protect buyers from wasting time and money on properties that turn out to have legal complications,” Davitt explained. “It will bring transparency to the process, similar to what we already see in public auctions and online sales, where buyers can access all the information they need before placing a bid.”

The proposal has received support from many prominent estate agents across the country. A recent survey revealed that 32% of properties currently on the market had significant legal or planning defects, meaning they couldn’t be sold without further work. Ken MacDonald of Hooke and MacDonald described the bill as a “dramatic improvement” that would modernize the entire conveyancing process, ultimately reducing costs for buyers. Keith Lowe of DNG echoed these sentiments, noting that an efficient system would provide confidence to both buyers and sellers, ensuring transactions can be completed on time without unexpected legal roadblocks.

Public sentiment also favors reform. A September 2023 Ireland Thinks poll found that 73% of consumers who had dealt with the conveyancing process reported issues, and 77% supported the introduction of the Seller’s Legal Pack. The bill would also safeguard mortgage approvals, which typically last just six months, by ensuring properties are fully ready for sale when they hit the market.

According to sources from the Institute of Professional Auctioneers & Valuers (IPAV), with nearly 2,000 estate agents supporting the bill, the message is clear: the current system is broken, and the Seller’s Legal Pack for Property Buyers’ Bill 2021 is the key to fixing it. Now, all eyes are on lawmakers to act swiftly and modernize Ireland’s property market, making it more efficient and transparent for all involved.