Make Offers on Houses in England Legally Binding
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When bidding on a property a person can withdraw at any point before exchange of contracts. The vendor would have lost money during the conveyancing process. The conveyancing process can take months and if a buyer withdraws their offer, the vendor has to start all over again picking up the pieces and accepting the fact all the money spent is lost. If there is a chain involved it can be devastating for all parties. Too many people have suffered financially and emotionally and enough is enough!
I am asking the law to be changed to reflect that when an offer is made on a property it should be legally binding from that point. Similar to the law in Scotland This would add a strong element of security to the house buying and selling process.
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