Naming & shaming website

googler

DVardysShadow wrote: »

As far as I can see, the games can carry on right to this point and although the Home Report seems to cover most of the pre-contract issues, if you need to do your own research, you don't get an exclusive period as buyer for this part of the process.

In practice, you do. Having accepted an offer, the selling solicitor or agent won't accept an offer from another party without having rejected the first offer (or having had the buyer withdraw it).

Likewise, the buying solicitor won't commit their buyer to offering on more than one property; they're unlikely to submit an offer on another unless they've withdrawn the offer on the first.

HAMISH_MCTAVISH

DVardysShadow wrote: »

As far as I can see, the games can carry on right to this point .

I think the part you miss is that the system and the solicitors strongly discourage the playing of any games at all.

I'm not saying it's impossible for an issue ever to occur, but I am saying that it's really very, very rare.

When we buy and sell houses up here, we have confidence that 99% of the time, an offer is serious and proceedable, and that if we accept the offer the house is sold. Chains don't break, gazumping/gazundering doesn't happen, you can't get 2 months into the process and find your buyer pulls out on the day of completion, ruining 3 other house sales at the same time.

Surely anything that achieves that is a far better system?

Us Scots log on and read this board, and we're horrified at the amount of time wasting and heartbreak that the English system allows, and baffled as to why you put up with it.....

DVardysShadow

HAMISH_MCTAVISH wrote: »

I think the part you miss is that the system and the solicitors strongly discourage the playing of any games at all.

Fair point - although I think that the difference is that as the only scope for games is prior to the offer being accepted, firstly, all game playing scope is during the period of bids being open and secondly, because bids are open, there are no false expectations, so less scope for people to feel upset

tommie1shunt

Barking mad idea, will end in tears...

HAMISH_MCTAVISH

DVardysShadow wrote: »

Fair point - although I think that the difference is that as the only scope for games is prior to the offer being accepted, firstly, all game playing scope is during the period of bids being open and secondly, because bids are open, there are no false expectations, so less scope for people to feel upset

I'm not sure what you mean by "games"?

It's a bid, it'll be accepted or rejected. And usually very quickly.

Negotiating a price fairly and honestly at the start of the process isn't "game playing scope".... It's a reputable way to do business.

Whereas gazumping and gazundering are just blackmail.

saphydog

such a thread would be open to some serious abuse in my opinion

googler

HAMISH_MCTAVISH wrote: »

I think the part you miss is that the system and the solicitors strongly discourage the playing of any games at all. ......

... Us Scots log on and read this board, and we're horrified at the amount of time wasting and heartbreak that the English system allows, and baffled as to why you put up with it.....

Horrified and gobsmacked in equal measure.

Perhaps the OP, rather than tarnishing another's reputation whilst writing under an alias, should be lobbying his/her MP instead?

In Scotland we have standardised offer letters. These specify the offer price, a date of entry, and any other conditions, along with a date/time by which the offer must receive a response. Is there any reason why these couldn't be adopted in England & Wales? It would save people posting on here "What's the best way to make an offer?". The question just doesn't arise in Scotland. I also read here about buyers who offer then don't hear from the selling agent for a week, and wonder why they don't specify a response date/time in writing.....

One of the other things that never ceases to amaze me is how a seller in E&W can accept an offer, then string the buyer along ad infinitum without setting an entry date, the date when the buyer will actually take ownership of the house. As mentioned above, the offer in Scotland specifies an entry date, and, once accepted, it's generally accepted that that date will be honoured by the seller. Is there any reason why anyone in E&W wouldn't be able to decide on a date of entry at the time of making and accepting the offer?

We also have standardised missives, or contracts. Whilst these can be varied in individual cases, and have variations in different areas of the country, wouldn't you say that having these standardised as a starting point is a step in the right direction?

If anyone in E&W wants to see what they're missing;

http://www.lawscot.org.uk/members/member-services/a-to-z-rules--guidance/s---z/standard-missives

mrs-h_3

LOLAF wrote: »

Hi there,

- Having posted a thread here yesterday about my experience with a dishonest seller
- Having realised from the various responses and other threads on the forum the extent of the problem of undignified buyers & sellers
- Having acknowledged that it will probably take a while for the property law to change (well done to Scotland by the way)
I HAVE A PROPOSITION TO MAKE:
I would like to start a NAMING & SHAMING site/forum where people will be able to tell their stories and name dishonest sellers and buyers. I think many people allow themselves to behave the way they do because they deal with people they do not know and probably will never see again.
I am not sure people will still be treating others the same way if they would know that their friends, colleagues and families will be made aware of their action.
Would love to hear your thoughts on the concept and where would be an appropriate place to publish

Personally your seller has done nothing wrong really they are entitled to wait for a higher offer, i think naming and shaming would and should land you in hot water!

hcb42

HAMISH_MCTAVISH wrote: »

I've also never known anyone in real life in Scotland, or even heard of any friends of friends, etc, in the last two decades that's had a buyer or seller pull out after an offer is made and accepted, with the sole exception of one occasion where the survey disclosed a nasty surprise.

I'm sure abuse of the system must happen on occasion, but it's very strongly discouraged by the solicitors up here. Your solicitor will refuse to represent you if you do that sort of thing.

The Scottish system is FAR better.

I have...

I had a buyer pull out after an offer was made and accepted and there was no nasty suprise (other than the nasty surprise I got ie the fact they couldnt afford the house!) 'Sold' it again a few weeks later, with someone who could conclude that time!

I agree, I tend to prefer the Scottish system, in that they don't make half hearted offers in the main though.

I haven't read what happened to the OP, although gathered there was someone that put in a higher offer...well in Scotland that happens by default with the Offers Over...I had two buyers who had both offered the same amount "Over" my asking price when I sold another property I owned up there, it went to closing date/time, one not so nice buyer didnt want to get into a bidding war, the other wanted the house so he upped his offer...effectively against himself, as he/we were not to know the other would pull out!

Not sure that's better. Was great for me however (those were the 'good' old days in the early 2000s) but not sure how the OO is good for the buyer either.

LOLAF

mrs-h wrote: »

Personally your seller has done nothing wrong really they are entitled to wait for a higher offer, i think naming and shaming would and should land you in hot water!

I DO think my seller did something wrong. She negotiated with 3 buyers - we were the top bidder and she told us that if we improve our offer and pay her X the property is ours. Once we agreed she could have checked with the other buyers and if they would have agreed to pay more I wouldn't have said a word. It is her right to maximise the price.

BUT...

To continue negotiation with the other buyers after ACCEPTING our offer at the price she stated in the first place as her target price is not acceptable! If she would have been so honest she would have approached us asking us to improve our offer when she got the better one. She decided not to give us a chance and told us that if we still want to buy we need to better our offer compared to the other buyer. We later learned that she gave us the option of improving the price AGAIN after she accepted the other buyer's offer.

This is not the way an honest seller conducts oneself!!