Gazumping is back, and still perfectly legal.

Astley_K

Having recently experienced a rather unpleasant falling-though of a house we were trying to purchase as first time buyers, I couldn't believe what was allowed in the housing market as it stands. Basically, if the question is "is that allowed?" unless contracts have been exchanged (usually about 10 days before you have the keys in your hands) the answer yes "yes, of course". No matter how unscrupulous that action.

This must change, sign my petition by searching "conveyancing" at change[dot]org if you agree.

Astley_K

Direct link is chn.ge/1ncmmJ4 if anyone's interested

tberry6686

When would you suggest that an accepted offer is legally binding then ? The problem is that the current system is poor but what are the alternatives. The Scottish system is better, but not by much.

tberry6686

just had a look at the suggested change on the petition page. Basically you would like it to be that when an offer is accepted the vendor can only withdraw with the buyers permission, but the buyer can withdraw for virtually any reason at all ? No thanks.

Maybe a deposit from both sides ? If either side pulls out after acceptance they forfeit the deposit to the party that has not withdrawn - seems a bit fairer to me.

andygb

I would be happy if they adopted the French system - saves all messing about.

I should state that we have no plans to move, and that we have lived in our property for 22 years.

Gloomendoom

What is the French system?

browneyedbazzi

If vendors were required to have all the searches, survey and usual enquiry details available to prospective purchasers before they made an offer, then a system where an offer is binding (on both parties, it would be ridiculous for the parties not to be on an even footing by allowing one to withdraw without penalty) would make sense. Otherwise it simply wouldn't be fair.

OP - you seem to see this from one side only, perhaps you need to consider that one day you will be a home owner and may want to sell. How you would feel about your proposal then? I expect you'd think it was a terrible idea.

6789marieh

Hi K, Thanks for setting up this campaign. I've just had a very nasty experience which has cost me hundreds of pounds. My sellers pulled out of the 'deal' 2 days before my suggested completion date. They had been rather 'vague' and often unresponsive for the whole 6 months since my offer was accepted by them. In that time, they or their relatives or agents, let in a valuer and a damp & timber expert and also supplied to my solicitor all responses to enquiries including documentation of planning permission for alterations to the property etc etc. I cannot for the life of me fathom out what makes people tick. However, being a single parent bringing up 2 kids on my own, I could have done without all this. I really wish that something could be done about our antiquated legal/conveyancing system so that both buyers and sellers were more protected against the events I have just experienced. IT IS JUST PLAIN MORALLY WRONG THAT PEOPLE CAN JUST CAUSE OTHERS TO INCUR COSTS AND THEN JUST BACK OUT WITHOUT SO MUCH AS A BACKWARD GLANCE. Good luck with the campaign. A change is long overdue!!