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This petition was submitted during the 2019 to 2024 Parliament

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Closed 1% deposit on purchasing a property prior to offer acceptance to avoid pull outs

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Make it a legal requirement for 1% of a property deposit paid upfront on offer acceptance to ensure people don’t pull out
If the buyer were to pull out then the 1% laid down upfront is to go to the vendor
If the vendor was to pull out then the 1% should go to the buyer.

The stress would reduce when purchasing/selling a property. It would offer continuity to the seller/buyer that people are serious about the property.
It would stop people pulling out last minute.
Less chance in a delayed chain.
Better mental health
Less anxious about selling / buying a property
The above would enable a smoother running of the UK/England housing market.

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10,000

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  • Petition published

    This petition can now be signed.

    If this petition gets 10,000 signatures, government will respond to it.

    If this petition gets 100,000 signatures, it will be considered for debate in Parliament.

    This petition will stay open until 8 May 2022.