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JGM
JGM, Solicitor
Category: Scots Law
Satisfied Customers: 11150
Experience:  30 years as a practising solicitor.
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I won a bid on a property in Scotland. I have secure the loan.

Resolved Question:

I won a bid on a property in Scotland. I have secure the loan. I asked the auction house to secure the loan.
The contract was vague. I asked 28 days to complete the transaction. I secured the loan and and contacted the auction house. They told me someone has offered a bid and the vendor accept.
I wasted 10 days. I want the property and I want them to honor the bid
Help
Submitted: 2 years ago.
Category: Scots Law
Expert:  JGM replied 2 years ago.
Thank you question.
If the contract was concluded in writing the vendor is bound by it. If, as I suspect here, it wasn't, the vendor isn't bound by your bid and can sell to someone else and there's nothing you can do about it.
Happy to discuss further.
I hope this helps. Please leave a positive response so that I am credited time.
Expert:  JGM replied 2 years ago.
You have rated a bad service when your question was answered correctly. What further information do you need?
Customer: replied 2 years ago.
the question was based on auction bidding and the rights of the buyer, when the auction house did not send an original copy not a fax.
I secured a loan without the official documents I and went back to them within 2 weeks under 28 days
Yesterday the sold the property I have wasted two weeks. Do I have any recourse against the auction house.
Could they sell it to another bidder even though I won the bid. What is the difference in Scottish and England laws on bid as the auction house. Any property must be evidence in writing.
I want to know what could I do how could I make them honor their contract with me
Expert:  JGM replied 2 years ago.
I'm not quite sure what the relevance is to your reference to the difference between Scots and English law. I am a Scots solicitor but I believe that on both jurisdictions formal written contracts are needed to bi d both buyer and seller.
If you didn't have a formal written contract because you were still seeking a loan then there is no contract to honour and you have no recourse against the auction house and can't insist that they sell to you.
JGM and other Scots Law Specialists are ready to help you