Ban gazumping in the housing market
In Scotland, acceptance of an offer to buy a property is legally binding and requires the payment of a deposit. I am looking for the law to be changed in England and Wales in the same manner.
Signatures
6
signatures
Government response threshold (10,000) · 6/10,000
Debate threshold (100,000) · 6/100,000
- 11 APR 2025Petition rejectedduplicate
The following petition calls for a similar action: Introduce conveyancing laws similar to those in Scotland, across England & Wales https://petition.parliament.uk/petitions/709395
- 12 MAR 2025Petition created
Background
Currently in England and Wales, it is possible to agree to the purchase of a property, and invest money in surveys and legal fees (not to mention time and emotional energy), only for another seller to come in with a higher bid and the sale is lost, along with any costs incurred i.e. "gazumping". This needs to stop.