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Drastic change in the law necessary

(55 Posts)
CountessFosco Sat 31-Dec-22 13:50:14

If there are others who have been affected by the anguish of buying and selling houses in England and who have been frustrated and left in the lurch by would-be buyers "pulling out" [ridiculous expression] after several weeks, would they please sign the Change.org petition to have the law tightened to stop this nefarious practice and make the sale binding? After all, if Scotland [and most other places where we have lived in the world] can do it, then so can England.
Happy New Year everyone

Normandygirl Mon 02-Jan-23 05:06:33

Of course all systems are going to have problems which cause delays, but the difference here is that the stress is mitigated by the fact that everyone knows that it is just a delay not a collapse and all the stress that comes with it. The biggest stress factor for me in the UK was the uncertainty, right up to moving day.
Our last house sale in the UK was a nightmare with buyers that had offers accepted on three different houses and wanted to decide at the last minute which one they were going to actually purchase. They asked for a big reduction close to exchange and I guess they managed to get that from one of the other sellers. These are the sort of antics that need to be stopped by legislation.

Katie59 Mon 02-Jan-23 07:24:47

Chestnut

What I don't like is this game the estate agents play when you're buying. They tell you someone else is interested and the seller wants you both to make an offer and they will accept the highest. If you are desperate not to lose the property then this puts pressure on you to offer the very most you can manage, maybe overspend and put yourself in trouble. This has happened to me twice and I really don't like it. ^How do we even know there is another buyer?^

You don’t know there is another buyer.

The estate agent is paid buy the seller to get the best price, you offer the best price you can afford or walk way. Falling in love with a house is for fools because paying too much can be a nightmare.

Once the price is agreed there should be a large penalty like loosing a deposit if either pull out, it works both ways sellers and buyers are often underhand.

Chestnut Mon 02-Jan-23 09:38:17

Falling in love with a property is what I do, so I must be a fool. Either I want the property or I don't.

Katie59 Mon 02-Jan-23 13:02:12

Falling in love is very expensive because the seller can tell