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Can't complete due to Priority Search
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Apologies as I missed the later posts around unscrupulous other buyers and suggested loopholes.
An OS search last for 30 business days and cannot be renewed, so as mentioned by others if someone really wanted to go down the unscrupulous route then they could but it would not last too long and in some cases might never prove to be too unscrupulous simply because by the time the 'real' buyer completed and submitted their own protected application the unscrupulous one's search has expired and no longer has an effect.
The OP sk123 wonders why we would allow anyone to submit an OS before exchange - the simple answer is because we are not involved in the exchange process so we would not have any awareness of what exchanges have taken place or indeed any other transactions which are in the pipeline awaiting completion. If someone submits the OS before exchange then they are also, if they are a genuine buyer who then wishes to complete, taking a risk as by the time they actually complete and then lodge their application their OS is likely to have expired leaving them unprotected.
The scenario posted is a rarity indeed and when it does happen it is resolved as suggested by the OP.“Official Company Representative
I am the official company representative of Land Registry. MSE has given permission for me to post in response to queries about the company, so that I can help solve issues. You can see my name on the companies with permission to post list. I am not allowed to tout for business at all. If you believe I am please report it to forumteam@moneysavingexpert.com This does NOT imply any form of approval of my company or its products by MSE"0
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