Gazundering

[AtW]

The Exchange of Contracts is the point where the contract is agreed and signed.

On ebay when you place a bit for tat you enter contract - the only cop out can be if the items description was incorrect, I see no reason why with such a serious purchase like house buyers can get out after causing costs to the seller - at the very least if bid is put in and accepted, then breaking of that contract (by either side) should result in £X compensation paid by whichever party's broken the deal.

[MarillionFan]

On ebay when you place a bit for tat you enter contract - the only cop out can be if the items description was incorrect, I see no reason why with such a serious purchase like house buyers can get out after causing costs to the seller - at the very least if bid is put in and accepted, then breaking of that contract (by either side) should result in £X compensation paid by whichever party's broken the deal.

Because contractual rules on Ebay say you have entered a legal contract. That is not the case with a house

For example I will up my bid for control of M12 from £2 to £5!

If you except I will of course drop it back to £3

[AtW]

M12, very Noble:

[scooterscot]

There has never been an overall negative equity in Scotland in the last 40 years. If stability is what you want adopt the Scottish system.

WHS never known prices here to run away with themselves or come crashing down.

[Moscow Mule]

On ebay when you place a bit for tat you enter contract - the only cop out can be if the items description was incorrect, I see no reason why with such a serious purchase like house buyers can get out after causing costs to the seller - at the very least if bid is put in and accepted, then breaking of that contract (by either side) should result in £X compensation paid by whichever party's broken the deal.

It's a little bit more complicated than an ebay transaction.

What happens if your offer is accepted then the survey says the place is falling down?

[AtW]

What happens if your offer is accepted then the survey says the place is falling down?

Seller should have survey done in the first place by license 3rd party who'd accept fully insured liability for any issues that may came up - buyer might have option to do their own survey if they wish but they pick up all the costs and should not make offer to buy until they are satisfied they want to buy.

[Moscow Mule]

Seller should have survey done in the first place by license 3rd party who'd accept fully insured liability for any issues that may came up - buyer might have option to do their own survey if they wish but they pick up all the costs and should not make offer to buy until they are satisfied they want to buy.

Well done, you just invented the HIP. Congrats.

[AtW]

Well done, you just invented the HIP. Congrats.

HIP was not a bad idea in principle if it was not so diluted by agencies with vested interest - the key thing is that buyer's survey should be fully insured and re-insured so that in the even of a screw up the surveyor has to pay up very quickly to compensate buyer.

The point is - buyer should not be able to say YES I BUY, then cause seller to reject other offers, spend time/money and then buyer pulls out without any penalty whatsoever - there MUST be some kind of minimum break up fee to compensate seller for fking around.

[Moscow Mule]

HIP was not a bad idea in principle if it was not so diluted by agencies with vested interest - the key thing is that buyer's survey should be fully insured and re-insured so that in the even of a screw up the surveyor has to pay up very quickly to compensate buyer.

The point is - buyer should not be able to say YES I BUY, then cause seller to reject other offers, spend time/money and then buyer pulls out without any penalty whatsoever - there MUST be some kind of minimum break up fee to compensate seller for fking around.

I'm glad I have corrected a point of your misunderstanding, and I tend to agree with your point. But not strongly.

[AtW]

I'm glad I have corrected a point of your misunderstanding, and I tend to agree with your point. But not strongly.