Basic economics is supply and demand. Scarcity increases value. So how can estate agents and property developers be allowed to sell houses under the townland name of Castleknock when these houses are clearly not within the borders of the Castleknock townland? The borders are clearly defined on townland maps. Of all the houses for sale on daft in Castleknock right now; 137 of them, only 30 of those are actually in the townland of Castleknock. If there is a perception of a larger supply then the value is affected. This is costing Castleknock residence financially when they decide to sell. Its unacceptable and must be stopped legally.
People choose to live in Castleknock townland because it has a reputation for little or no antisocial behavior, high ranking schools and close proximity to the phoenix park. The residence are losing money because of this fraud instigated by developers and estate agents that want to increase value of their less valuable properties and misleading buyers in the process.
I propose a new section in the law to stop property developers and estate agents from listing properties with incorrect townlands. This law will also protect buyers from being duped into paying for property they believe to be in a certain townland.
With the economy boom or crash people will have transparency. They will not incur an extreme financial loss which this activity is causing for genuine sellers and buyers.
Its not just happening in West Dublin, it's happening all over the country and is costing genuine people massive financial losses.
There are laws in place for fraud and misrepresentation right now;
Criminal Justice (Theft and Fraud Offences) Act, 2001
10.—(1) A person is guilty of an offence if he or she dishonestly, with the intention of making a gain for himself or herself or another, or of causing loss to another—
However it would be preferable to have a specific section for the buying and selling of property as it is in a different category to other sales, in that it is valued based on scarcity, location and the whole economy is affected. We need to send a very clear message that property must be listed and marketed correctly for a fair economy.
People choose to live in Castleknock townland because it has a reputation for little or no antisocial behavior, high ranking schools and close proximity to the phoenix park. The residence are losing money because of this fraud instigated by developers and estate agents that want to increase value of their less valuable properties and misleading buyers in the process.
I propose a new section in the law to stop property developers and estate agents from listing properties with incorrect townlands. This law will also protect buyers from being duped into paying for property they believe to be in a certain townland.
With the economy boom or crash people will have transparency. They will not incur an extreme financial loss which this activity is causing for genuine sellers and buyers.
Its not just happening in West Dublin, it's happening all over the country and is costing genuine people massive financial losses.
There are laws in place for fraud and misrepresentation right now;
Criminal Justice (Theft and Fraud Offences) Act, 2001
10.—(1) A person is guilty of an offence if he or she dishonestly, with the intention of making a gain for himself or herself or another, or of causing loss to another—
However it would be preferable to have a specific section for the buying and selling of property as it is in a different category to other sales, in that it is valued based on scarcity, location and the whole economy is affected. We need to send a very clear message that property must be listed and marketed correctly for a fair economy.
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