That's the whole point of the clauses in your document of intent. Reasonable potential problems allow for an escape.
But none in Scotland, Italy or France.
No it's a fact. It really is. Sorry. You won't find many (anyone?) with experience in any of these countries who says otherwise. How can any system be worse than one where honest people can spend thousands of pounds and then have the rug pulled from under them? It stinks.
Yes and no. In Scotland, you don't spend £2,000 on mortgage arrangement fees, mortgage valuations and solicitors until that "agree a deal" stage is signed. So while you might be a bit fed up if someone pulls out before you agree the deal, it hasn't cost you anything.
You're right about the selling fee. And it's almost the same in Germany! I'd really be interested to know how our system was considered "wonderful" though by your Scottish-buying friends . My guess is that there are fewer legal hoops here. That's fine if you haven't been stung, but regulations are put in place to protect people.
No, but I know how it works here and I've got a good idea of how it works there. There several people can spend money on a solicitor before making an offer, only one of which will be accepted, so several people have already lost money. And even then, after the offer has been accepted, either side can still pull out.
I'm not convinced by this argument. Firstly, how much money are you really likely to have spent on solicitors fees before making an offer and signing an agreement? You see a place, you haggle, offers are put forward, then the seller chooses one and the parties agree on a document of intent. That document is fairly standard, you wouldn't need to pay a solicitor hundreds of pounds to modify it every time.
It happens in Scotland as often as it happens in many regions of England, surely? And why are you convinced that the French way of signing a document of intent before paying for a survey is going to cause problems? I'm sure there are small issues with it, but ultimately the document of intent covers most potential issues. Obviously, you might find that one party questions the findings of a survey, say on subsidence - but ultimately you could get an agreed second opinion, or take further legal action if necessary. It certainly seems a lot fairer than decent people being fleeced through no fault of their own.
Not too much I wouldn't think, but it's still annoying for a few buyers whose offer isn't high enough isn't it?
What haggling is there? Isn't haggling (from the buyer's point of view) the art of getting the seller to come down in price, which isn't possible when someone else is going to make a bid?
Just based on what I think happens when people buy a house. The seller wants as much as possible, the buyer wants a discount. If a contract is signed before a survey is done, what happens when that survey reveals a bundle of little things that amount to over £10k of work? I had someone ask for £10k off because their surveyor said they didn't know if my property had insulation. Obviously the surveyor didn't know, he didn't take the walls apart, the buyer was trying it on. I just think that would be a pain if there was already a signed contract, who decides how much discount there is.
Legal action is an expensive nightmare, everyone wants to avoid that.
I'm not saying that I know for a fact that it isn't fairer, but you're saying you know for a fact that it is. I don't think any of these systems are perfect. If they were, then surely we'd follow them? Which I know is what you're advocating, but perhaps the reason we're not following, is because they're not perfect.
No. Honestly, this is the FIFTH time either my house sale has fallen through or we have been gazumped. Today it happened again. I have now spent £6,000 on wasted fees. I'm now just ever so slightly cross.
Would you turn down another 10k for the sake of being nice if you were the seller?
No of course not, but I think you're missing the point if you're asking me that question.
And don't forget they upload a few wide angle pics to right move and zoopla which takes all of ten minutes.
