Problem
Currently the law in England allow vendors who are selling their houses to change their minds on the selling at any stage before exchanging contract with no law to support the buyer. This law gives no consideration to the time and financial cost it might encounter the buyer during the purchasing process when vendors change minds.


Solution
It is well known in Scotland that according to the law that accepting an offer on a property is legally binding. I wonder why this can't be applied in England. Alternatively the estate agency or the vendor should take responsibility to compensate to the cost the buyer encountered.

Personal story
I recently made an offer to buy a property in Leeds. This was a long journey starting when I reviewed this house on the launching day. I showed an interest but I was not in a strong position as my house was not on the market at the time. The agency reported that the vendor is very interested in my offer but awaiting some progress in selling my house. As I result I put my house on the market, I accepted the first offer I received on my house which was lower than what I was hoping to achieve but I didn't want to lose the house in Leeds. I informed the agency and my offer was formally accepted after I got qualified by the agency's broker. I applied for a mortgage and got that accepted. I paid for the survey. I spent hours of work to get all the required documents ready and sent for the estate agency. Unfortunately after all that I received a call from the estate agency to say that the vendor now received a higher offer and he accepted it. This was a shock to me and my all family. I have 3 children, me and my wife spent hours on planning, contacting schools to secure places for the kids. We lost money for the survey and the mortgage application. I accepted to sell my house at a cheaper price due to pressure from the estate agency. I feel this was unfair and the law should be amended to protect both purchasing parties.