Mayo TD to voice concerns in Dail over reported Mayo gazumping issue

Mayo TD Alan Dillon intends to raise the concerns of distraught homebuyers from Ballinrobe in the Dail this week over the issue of reported gazumping following a recent 14-house estate sale in the south Mayo town.

The deputy will call for legislative reform to protect homebuyers from the unfair and predatory practice that has caused distress to many individuals and families across the country.

He said: "Gazumping is a practice where a seller accepts an offer from one potential buyer, only to accept a higher offer from another buyer before contracts are exchanged, has long been an issue in the real estate market.

"The Ballinrobe incident has brought the problem to the forefront locally, highlighting the need for swift action to address the issue and protect potential homebuyers.

The concerned Mayo TD proposes several measures to tackle gazumping, including:

* Introducing a legally binding "offer agreement" that safeguards both the buyer and the seller, ensuring that neither party can back out without facing penalties.

* Implementing a mandatory cooling-off period after an offer has been accepted, allowing potential buyers to carry out necessary due diligence without fear of being gazumped.

* Encouraging greater transparency and communication between buyers, sellers, and estate agents to reduce the likelihood of gazumping.

He "Gazumping undermines the trust and fairness in the Irish housing market. It is crucial that we implement measures to protect homebuyers and promote transparency within the industry," said the Mayo TD.

"The incident in Ballinrobe highlights the urgent need for reforms that will prevent similar situations from occurring in the future."

The TD has written to the Minister for Housing Darragh O Brien, seeking support on this matter, as well as engaging with industry stakeholders, including estate agents, solicitors, and consumer advocacy groups, to refine any proposed legislation and ensure it addresses the root causes of gazumping.

"I would also be encouraging the public to share their experiences and opinions on the issue, to better inform the legislative process," he added.