Oireachtas Joint and Select Committees

Thursday, 7 December 2023

Joint Oireachtas Committee on Housing, Planning and Local Government

General Scheme of the Residential Tenancies (Right to Purchase) Bill: Discussion (Resumed)

Photo of Eoin Ó BroinEoin Ó Broin (Dublin Mid West, Sinn Fein)
Link to this: Individually | In context | Oireachtas source

Okay, but that is not my question. I want to clarify this point. Let us say the local authority or the AHB makes a bid and the owner of the property decides he wants a quick sale. We heard from estate agents and landlords that this is common enough. The owner takes the view that if he goes for the local authority bid he might get a few thousand euro more, but he needs a quick sale. He goes on the open market and has a cash buyer who will pay €10,000 less than the AHB or the local authority but will buy immediately. There is nothing in this legislation which obliges the seller of the property to go back to the AHB or the local authority to inform them of that. They can sell it to the cash buyer who is buying at lower price. Is that correct?