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Domestic Property Transactions

Start date: 08/03/2016

Status: Report in preparation

What is the review about?

A Review Panel has been established to undertake a Review of domestic property transactions in Jersey.  

Terms of reference

​1. The average length of time that transactions take to progress from offer and acceptance to completion

2. The average time to complete transactions

3. Whether there is evidence of:
• a widespread problem with late failures of transactions
• transactions aborted at a late stage tended to cause one or more parties to incur significant legal and other fees, plus considerable inconvenience
• material negative impact on utility providers and other third parties arising from aborted transactions
• material legal, financial, administrative and other complications remaining unidentified until the final days of a transaction process

4. Whether there are:
• specific bottlenecks affecting the average rate of progress of transactions
• if so, specific options for alleviating such bottlenecks

5. Any other matters relating to the existing system of domestic property transactions, arising through evidence gathered.

Lead officer(s)

Tim OldhamTelephone: 01534 441067