Mr. Patrick Davitt:

Our research shows it takes between three and four and a half months to complete the transaction. If a property goes sale agreed today, a further offer can come to the auctioneer on that property any time until the contracts are signed, even though it is sale agreed. By law, the auctioneer has to pass that offer on to the vendor. At the end of the day it is the vendor's decision to accept or reject it.