Petition Make home sellers liable for costs incurred by buyers if they pull out

Buyers can spend hundreds of pounds thinking the property sale will go ahead.

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If the Seller pulls out before the exchange of contract, they should be liable for the these costs such as valuations and surveys which cost £100 or more and any other cost spent by the buyer thinking the sale will go ahead.

If 10 sellers pull out of the sale before contract exchange, a single buyer could potentially lose thousands on valuations, solicitors' and mortgage advisers fees etc. The buyer's bank lending the mortgage will also conduct a hard search against the buyer's credit file which can contribute to a lower credit score. It's not fair.

This petition is closed This petition ran for 6 months

51 signatures

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10,000

Date closed 8 December 2022
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