Drastic change in the law necessary

I would sign but I can't find it. Any chance of a link?

Think this might help = thank you in advance for your support.

www.change.org/p/buying-and-selling-of-houses-in-england-drastic-change-needed

House sales in Scotland can still fall through, in fact it’s increasingly so now, ime. We sold last year but it wasn’t a ‘slam dunk’ until the moment we had the money in the bank. That was quite a shock to us, after having previously bought and sold in the Scottish system.

Agree, the system is totally ridiculous. My son and family were moving last year. Their property was sold stc and they had found a lovely new home. Then on the day contracts were to be exchanged the sellers of their new home decide to stay put.

Thankyou, have signed.
The problem is that most people only "suffer" from this outdated system, maybe once or twice in their lifetime and just want to forget the whole sorry experience once it's over, usually muttering " never again", making public pressure difficult to motivate. I believe moving house is 2nd on list of the most stressful experiences in peoples lives after bereavement, and that's mostly due to the archaic system still in place in the UK. It needs to change.

We experienced a real nightmare with the sale of our last house- due to the person asking 20% off on the day of signing contract. The stress is just beyond belief.

Will sign right now.

For what it is worth, we contacted our MP, who has now written five responses, all of which are full of "see attached link to guide you through the process" etc. with absolutely nothing actually being done. As this last was our 24th move world-wide, we shall never move again, but as friends and relations continue to suffer, and as the MPs seem to be useless, a petition seemed like a good idea. Let's all keep our fingers crossed that something drastic is done, and soon.

There is another way, Auction, deposit at the fall of the hammer, very little comeback. But it’s double edged because sellers can’t back out either a lot of them gazump buyers.

Signed and put it on facebook

I would sign, but it seems that I have to do so via Facebook, don't want to sign up for it

Signed

grannysyb

I would sign, but it seems that I have to do so via Facebook, don't want to sign up for it

You don’t have to go through Facebook, just click on the link posted by Countess Fosco. I just signed without any problems

I couldn’t see any actual proposals in the link for the changes. What are the suggestions?

No, not signing.
There can be many good reasons for pulling out of a house sale.
Have moved many times and had to pull out twice.

All signed.
Happy New Year to you all 🥳

It is even problematic in France. The buyer has to put a down payment when signing for the property, which will be lost, if the agreement is broken. However, if it is a problem with the bank (which could be arranged with the bank somehow if the buyer has changed their minds), then the buyer does not lose anything and gets the down payment refunded.
This happened twice this year to my friend’s son while selling his flat in Paris.

The Scottish system is no better. Couples will sometimes do all the preliminaries - with all the costs, necessary before they bid, only to not get the property.

I hav eheard of couples biding on 10 properties without success and spending thousands of pounds with othing to show for it.

The fact of the matter is that both systems have advantages and dis advantages and buying a property is never easy wherever you do it.

I know I am confused about your home buying and selling contracts, and agree it should change.

In Canada it is a formal contract of sale, clauses can be added in, but must be accepted by the other party, for instance, we agree to sell for xxx dollars subject to financing by xxx date. If the purchaser does not have financing in order by then, the deal can fall through, but neither party can change any prices. The clauses can include inspections, financing or sale of another property, but with a closing date.

I have heard many heartbreaking stories in England regarding deals falling through. It just doesn't seem right that the prices can change once an agreement is made.

On the day a relative was due to exchange contracts, the seller advised her that another prospective buyer had offered a larger amount which they were willing to accept, unless she could 'match' the the price.
Any new legislation needs to protect all parties.

At least in Scotland you get the Home Buyers Report ( survey) at the sellers cost before you make an offer. Once the Missives are done ( searches etc. usually about 4 weeks) there’s no going back without compensation to the buyer.

SueDonim

House sales in Scotland can still fall through, in fact it’s increasingly so now, ime. We sold last year but it wasn’t a ‘slam dunk’ until the moment we had the money in the bank. That was quite a shock to us, after having previously bought and sold in the Scottish system.

I agree when we last bought we were well warned that it could well fall through up to the last minute. It used to be once you had agreed a sale it was a done deal .

M0nica

The Scottish system is no better. Couples will sometimes do all the preliminaries - with all the costs, necessary before they bid, only to not get the property.

I hav eheard of couples biding on 10 properties without success and spending thousands of pounds with othing to show for it.

The fact of the matter is that both systems have advantages and dis advantages and buying a property is never easy wherever you do it.

Are you meaning the multiple surveys, Monica? That’s one thing that has changed and I think for the better. Scotland now has Home Reports which are commissioned by the seller and anyone can access what it says. That means the buyer knows what they’re bidding on. A buyer can still commission their own report, of course.

We had many viewers and five offers on our house earlier this year but not one of them wanted their own surveyor’s report, so I think people have faith in the system.

My sister spent thousands on House Buyers Reports in Scotland and didn’t win one bid.

It’s a silly petition. It doesn’t give any idea what system would replace the current one.

Fleurpepper

We experienced a real nightmare with the sale of our last house- due to the person asking 20% off on the day of signing contract. The stress is just beyond belief.

Will sign right now.

That's awful, Fleurpepper
I know it happened to a very elderly couple near here a few years ago when they were downsizing to my friend's bungalow. The buyer, a builder, said he couldn't raise the funds after exchange but before completion! It caused problems right down the chain too.

Moving house is very stressful indeed.
Anything that removes some of the stress should be introduced.

Signing!