Residential

Would the Irish property market benefit from more formality?

With a growing trend for sales fall-throughs after an offer is accepted, it is astounding that a buyer’s word is all it takes to withdraw a property from the market

Some buyers are offering on multiple properties at a time, going to the extent of getting to ‘offer accepted’ on two to three properties, which leads to fall-throughs further down the line

We have seen a frenetic property market in Dublin in recent years and incredible price rises for beautifully presented properties. However, on the flip side, there is a growing trend for sales fall-throughs after an offer has been accepted.

With no formal process in place when it comes to offering on a property in Ireland, and agents and vendors simply taking a buyer’s word for it when they make an offer, the transaction is naturally ...