Adithya, I am sorry to read your review, which you have submitted at the same time as your husband on other platforms, both with regard to the same transaction, no doubt to maximise the effect. I am grateful to you however for the opportunity to respond.
The Reservation Agreement places the burden of proof on the party withdrawing to give one of the five reasons specified as grounds for doing so, and the proof specified, at the time of withdrawal. You decided to withdraw by reason of a physical defect in the property.
The agreement specifies that in such circumstances you should produce a RICS Survey identifying "urgent" works, with quotes (not estimates) for the repairs required, the total of which is greater than 1.5% of the agreed sale price at the time that you withdraw. This is a provision that the overwhelming majority of our sellers and buyers consider fair and balanced.
Were you in the position of the Seller, I am sure you would not consider it fair for your buyer to withdraw having produced only half of the evidence specified, and then produce the other half of the evidence after you had withdrawn.
However, this is exactly what you did. You withdrew by email on 25th March, we reminded you what evidence was required by the Reservation Agreement that you had signed, and you then obtained a quote for the repairs that was dated 30th March, and which was not based on a site visit, but was a desktop estimate. The fact that it was produced after you had withdrawn means, of course, that it could not have been in your thinking at the time that you withdrew.
Not unsurprisingly, the Sellers were less than happy with this approach and obtained quotes of their own, as they are entitled to do.
Under the Reservation Agreement disputes are referred to an Independent Expert, who in this case is a recently retired Senior Circuit Court Judge and Kings Counsel who is completely independent of Gazeal and not part of the management, is not employed by and has no shares in Gazeal. He preferred the evidence of the sellers and found against you.
As to your "Side Note", you are mistaken. It is our policy to refund the Reservation Fee if one party withdraws reasonably, but not if the matter goes through the Dispute Resolution process because, as you rightly say, this can involve months of correspondence to resolve the matter, for which we make no charge to either party. There is therefore no incentive for us to find in favour of the Seller, as you allege, even were it possible for us to influence the decision of the Independent Expert.
In fact, as neither party has to put down a deposit, but instead we guarantee the obligations of each party to the other, the incentive is the other way around - to not find that a withdrawal was unreasonable so as to avoid the risk of being called to honour the guarantee.
In your case, as you refused to pay the Award made by the Expert, we honoured the Guarantee and paid the Commitment of £5,000 to the seller and the costs of the Expert hearing of £500.
However, the important point to note is that the Reservation Agreement is fair to both seller and buyer, that the obligations on each party are entirely reasonable and are agreed by both buyers and sellers to be so in the vast majority of cases, and that Gazeal honours its obligations to both, even if, as in your case, it involves substantial financial loss, because we believe that our word is our bond.