Reform conveyancing law: make accepted offers legally binding


Reform conveyancing law: make accepted offers legally binding
The Issue
Being gazumped or having a sale fall through at the last minute is an all too familiar nightmare for anyone who has bought or sold property in the UK.
Scotland have solved this problem by making accepted offers legally binding, with financial penalties should either party withdraw. We urge lawmakers in England and Wales to reform conveyancing law align to Scottish conveyancing law.
This will create a more reliable process for everyone involved in property transactions, and give confidence to those moving home. Please sign this petition to support much-needed changes in conveyancing law!

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The Issue
Being gazumped or having a sale fall through at the last minute is an all too familiar nightmare for anyone who has bought or sold property in the UK.
Scotland have solved this problem by making accepted offers legally binding, with financial penalties should either party withdraw. We urge lawmakers in England and Wales to reform conveyancing law align to Scottish conveyancing law.
This will create a more reliable process for everyone involved in property transactions, and give confidence to those moving home. Please sign this petition to support much-needed changes in conveyancing law!

1
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Petition created on 6 June 2024