The Irish property market is likely to be dominated by sellers
of distressed properties over the coming years. The residential
market has seen high-profile sales by secured lenders and while
commercial property has not seen a revival in activity on the same
scale – due in part to the lack of credit and to
continuing valuation uncertainties – banks and insolvency
practitioners will be in the vanguard of this market over the
coming years.
The practical challenges
Any party approaching a property transaction with a bank,
receiver or liquidator in an enforcement situation should
appreciate from the outset that the opportunity to acquire a
property in those circumstances comes at a price – the
levels of information and legal comfort available from the seller
in relation to the underlying asset are limited. The reasons for
this are understandable:
