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This petition is now closed, as its deadline has passed.
We the undersigned petition the Prime Minister to make the purchase price of a property, when agreed by both buyer and seller, legally binding on both parties. More details
Submitted by Gillian Buick – Deadline to sign up by: 11 August 2008 – Signatures: 15
More details from petition creator
It seems to be common practise for buyers to suddenly drop the price that they have offered for a property, just before contracts are exchanged, thus causing considerable distress to the sellers and anyone else in a "chain" if the sale then collapses as a result of this most dishonourable practise! Once a price has been agreed upon and the property is deemed to have been sold, I ask that this price should be legally binding on both parties, as it is in Scotland.I know of no other commodity that just before a buyer is due to take possesion, he can suddenly offer a lesser price for it!That it can be done within the law when purchasing property is outrageous, dishonest and should be outlawed.
