Penalties proposed for Jersey house sale pull outs
Some types of sales including family or company transfers, auctions, government sales, hotels and guest houses will be excluded from the proposed law.Legitimate reasons for pulling out of a sale would include mortgage refusals, substantial damage to the property and chain collapses.
Andrews said politicians needed to "instil confidence in the housing market for both buyers and sellers".He said: "It is evident that without legislation, islanders will continue to be vulnerable to gazumping and gazundering."With legal recourse in place, buyers and sellers would have greater confidence in the process and some financial recompense should a transaction fail."The earliest the proposal can be debated is 30 September 2025 and Andrews requested the chief minister to approve the proposal no later than June 2028.
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