Sales of homes have collapsed as a result.
The Institute of Professional Auctioneers and Valuers is warning that loan offers are being withdrawn because of delays in conveyancing.
The vast majority of IPAV members, 84%, say sales of homes have fallen through, due to delays in the conveyancing process.
That's the legal transfer of property from seller to buyer.
On average the process has been found to take about four months to complete.
IPAV Chief Executive and Castlepollard's Pat Davitt said: “Conveyancing delays put extra worry and pressure on purchasers and vendors as well as extra rental costs too in many cases at a time when budgets are very tight.”
He said the Sellers Legal Pack for Property Buyers’ Bill 2022, due to reach Second Stage in Dáil Éireann on 5th October, is designed to address the situation and make the whole process more efficient.
He said the survey found that 97% of IPAV members support the legislation, because of its clear benefits and the certainty it gives vendors and purchasers.
“The Sellers Legal Pack involves gathering the critical documents up front prior to a property going on the market. It is currently used very effectively in online and public auction sales for many years,” Mr Davitt said.
He said it front-loads the current conveyancing process rather than beginning it when a property goes sale agreed.
“The Sellers Legal Pack Bill, when enacted, will speed up the entire sales procedure without adding any further costs to the consumer, and it will also help put an end to the practices of gazumping and gazundering,” he concluded.
Concerns Raised With Speeding Levels In Rural Offaly
€1.8m Overspend On Midlands Homeless Services Last Year
Event In Offaly Celebrating Palestinian And Irish Culture
"Grave" Funding Situation For East Galway And Midlands Cancer Support Centre
Event In Laois To Pull 85 Tonnes In Aid Of Autism Charity
First Millennial To Become A Saint - "God's Influencer"
Westmeath Home Damaged By Fire
Westmeath Health Services "Stretched"
Changes In The Irish Rail Network Could Benefit Entire Line
Recruitment Underway For Midlands MRI Scanner
Retro Cannonball Coming to Westmeath
Newly-Published Feasibility Study From 2019 Recommends New Laois Sports Hall
LE Candidate Calls For Provision Of Bus Stops In Every Offaly Town And Village
Recovering Jobs Lost In Just Transition Top Of Conference Agenda
Not Fair To Blame Asylum Seekers For Rise In Protests - Westmeath Councillor
Preparations Underway for Laois Music Festival
Laois Man in Amazon Prime Documentary
'Business As Usual' At Bord Na Móna Despite Strategic Review Into BNM Recycling
Laois Services 'Centralised' To One Major Town
Protest At Former Westmeath Nursing Home Concluded Peacefully