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May the Vendor accept other offers after accepted my offer in STC?

Is it allowed for the Vendor to accept higher offer after accepted my offer in STC? I may loose part of the Solicitor fee?

Asked on Dec 2 2010, General in Cardiff | Report content

Answers (3)

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  • Until contracts are exchanged, yes the vendor can accept a higher offer if they are that way inclined. Scotland has a different system which stops gazumping a gazundering. It would be better if England and Wales followed suit.

    Answered on Dec 3 2010, Report content
  • Yes in short. Until you have exchanged contracts the transaction is not binding for either party. The estate agents act means that should another party make an offer on a property you are currently buying, the agent is obligated to put it to the seller and take their instructions

    Answered on Dec 7 2010, Report content
  • Up until you have exchanged contracts. After that both the vendor and purchaser are legally committed to the sale. However, you could make it a condition of the offer that no more viewings are undertaken and that the property is removed from the market.

    Answered on Apr 24 2011, Report content

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