why arn't buyers and sellers protected in England like in Scotland

Liz_Parry

We had an offer on our house in Sept. No chain involved. Buyers did survey and we sorted everything at considerable expense. Came to see it again, said they really loved the property and couldn't wait to move asked us for various other things to which we foolishly agreed. Contracts arrived for us to sign 2 days ago (took ages - 3 months) as I was reading through them the Estate agents rang to say buyers withdrawing their offer due to personal reasons. Retired, no mortgage, cash buyers- wouldn't tell the estate agent any more than that it was personal reasons and when ES rang back to buyer with more questions was told they were at a party.
I feel so angry as I feel they have played us along in a game of make believe and we are now poorer to the tune of £5000
I think offers and acceptance should be legally binding or that it compulsary to make a deposit of 5% that is non refundable unless a survey uncovers substantial issues the seller won't resolve.

marksoton

Whatever the hell did you agree to that constitutes £5K of expense as a seller?!

Liz_Parry

That helps. Thank you

davidmcn

What extra protection do you think you would have had in Scotland? Offers and acceptances are only legally binding once both parties want to commit themselves - which will tend to be at an earlier stage than in England, but in practice you're still going to be waiting for mortgage offers / buyers' sale to be tied up / somebody to find paperwork for the extension etc, and until then either party is free to walk away.

hazyjo

They will have lost money too on surveys, solicitors, etc.


You live and learn - it's usually advised that if a lot of work needs doing, the buyer does it - usually with a price reduction. That would have been much better in your case.


They've not made that £5k off you - it's unfortunately your own naivety more than anything IMO. Hopefully that £5k will turn out to be a wise spend and may make your house easier to sell in the future.


Good luck. Horrible situation to be in. Remember in future that nothing is set in stone until exchange and don't spend money to accommodate your buyer who might not last that long! Scotland has its own issues with property buying/selling. It's not perfect either.


Jx

jimbog

What makes up the £5K?

marksoton

Liz_Parry wrote: »

That helps. Thank you

It's pertinent. Answer the question?

Malmo

we sorted everything at considerable expense

...

asked us for various other things to which we foolishly agreed

Chalk it up to experience. Though you probably know it now, they are your mistakes I'm afraid and you should never have incurred any costs on behalf of the buyer prior to exchange. The buyer could have offered at a lower price to reflect fair cost of THEM carrying out any work or whatever it is they wanted.

martindow

If the OP has spent money sorting out problems that may have put buyers off, that money is not lost as it should help get a new buyer.

It would be helpful to know what £5k was spent on.

AnotherJoe

Liz_Parry wrote: »

We had an offer on our house in Sept. No chain involved. Buyers did survey and we sorted everything at considerable expense.

What was it? Why didn't you suggest you knocked £5k off the price instead so they could have it done to their satisfaction??

Came to see it again, said they really loved the property and couldn't wait to move asked us for various other things to which we foolishly agreed.

Which were?

Contracts arrived for us to sign 2 days ago (took ages - 3 months) as I was reading through them the Estate agents rang to say buyers withdrawing their offer due to personal reasons.

Retired, no mortgage, cash buyers- wouldn't tell the estate agent any more than that it was personal reasons and when ES rang back to buyer with more questions was told they were at a party.

Why on earth is it relevant they were at a party???? And what youw ere planning, to browbeat them into buying? If the reasons were personal, that means they dont wish to tell you.

I feel so angry as I feel they have played us along in a game of make believe and we are now poorer to the tune of £5000

Well, thats wholly your fault, but you now have a house that doesn't have £5k of defects and to the new prospects you can proudly point out the new shower / roof/ kitchen/ gold plated bathtaps/ whatever

I think offers and acceptance should be legally binding or that it compulsory to make a deposit of 5% that is non refundable unless a survey uncovers substantial issues the seller won't resolve.

Well that would simply open a whole different legal minefield and in any case merely push back exchange to an earlier stage with a whole lot more danger and legal costs since you'd be hard pressed to define "substantial", one persons "substantial" is anothers trivia. Is one shoot of Knotweed substantial and sign of a terrible to come problem, or not an issue? What about if the neighbours garden has it? Are those loose tiles a sign of a whole roof about to fall off, or a £100 job? My builder says the former, yours the latter. See you in court !

theartfullodger

There are things in Scottish law that are better than in English law.

There are things in Scottish law that are worse than in English law.

If you want the advantages of Scottish law, simple solution, move to Scotland!

There are two sorts of people...

a) Those who think the grass is always greener in the next field...
2) Those who are content to live in their own country, taking the good with the bad
iii) Those who can't count..