This petition was submitted during the 2015-2017 parliament
Petition To change the way we buy and sell land and property in England and Wales.
You can't leave a gym membership or phone contract without financial penalty but you can still walk away from a house sale or purchase without any justification causing incredible stress and financial loss to the other party. Commitment should be immediate and penalties apply for not completing.
More details
When you agree to purchase or sell land or property via private treaty, you are not legally bound until exchange of contracts with the buyer usually incurring slightly higher costs than the seller. Exchange can be around 8 weeks or longer after the original price is agreed. Hundreds of times a year, one party withdraws before exchange for no justifiable reason causing incredible stress and financial loss to the other party, often with huge impacts on their family, schooling and work.
This petition is closed This petition ran for 6 months
49 signatures
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10,000 signatures required to get a government response