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Estate Agent System

hogday Posts: 1 Newbie

10 January 2007 at 10:39AM in House buying, renting & selling

5 days before we were due to exchange contracts, we were `stood up` by the seller who suddenly had a `dispute over proceeds with ther ex boyfriend` that were not declared during the sale procedures. Despite some good options offered by our solicitor (rent until the court sorts it) the other side would not play ball. We ended up renting (finding a house to rent having only 5 days before the new job starts,300 miles away, is a tad stressful).
My bottom line: Until enough people, who have suffered similar expensive frustrations, get together and lobby for a change in the law, this sort of manic thing will contine. EG. In Canada, there is a national estate agency service mls.com, where all agents have access to all properties for sale and if an agent introduces you to another agent's sale, they split the fee- very helpful! When you agree to buy, the contract is drawn up there and then by the agent (with the `subject to...`clauses). Withdrawal by either party without just cause attracts a heavy penalty QED: Commitment to buy and sell is pretty much secured. Shouldn't an organised lobby of MP's be a good way forward? Any comments?

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