Petition · past parliament
Make agreements to purchase or sell a property legally binding
Closed
68 signatures
What the petition asks
The UK Government should reform law governing the sale and purchase of property to provide security to sellers and purchases, by making agreements to purchase or sell a property legally binding.
The current law allows loose and unethical practices, which affect sellers and buyers.
The current home purchase scheme provides absolutely no protection for Sellers or Buyers. It needs to be addressed so that an agreement to either sell or buy is legally binding and cannot be rescinded without reasonable penalties being incurred.
The law should provide protection from Gazumping or Price drops at point of exchange. It should adequately protect buyers from unwittingly being used as leverage to extract more money from others. An agreement to buy or sell a property should be binding to all parties.
The current home purchase scheme provides absolutely no protection for Sellers or Buyers. It needs to be addressed so that an agreement to either sell or buy is legally binding and cannot be rescinded without reasonable penalties being incurred.
The law should provide protection from Gazumping or Price drops at point of exchange. It should adequately protect buyers from unwittingly being used as leverage to extract more money from others. An agreement to buy or sell a property should be binding to all parties.
Timeline
| 6 Mar 2023 | Petition opened for signatures |
| 6 Sep 2023 | Closed to new signatures |
Key facts
Signatures
68
Status
Closed
Opened
6 Mar 2023
Closed
6 Sep 2023
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Source: the official petition page. Last checked 15 Jul 2026.