Make property offers legally binding like in Scotland

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Make property offers legally binding like in Scotland

Petition Details

The Government should make the buying and selling of property fairer by making offers legally binding in England and Wales. This should put a stop to gazumping once an offer has been accepted.

Additional Information

House prices are rising, along with the cost of living making it impossible for first time buyers and buyers with a budget. Schemes such as “help to buy” and “part ownership” are heavily flawed and do not do enough to support the buyer, particularly when you come to sell. It is currently legal for a buyer to have an offer accepted (in an already sparse market and usually above asking price) to then be heavily gazumped by a cash buyer who may not even plan on living there.

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