There are benefit to the British system too. The real problem is common with both systems: bubble seller market like in London, and month long administrative procedures for what should be trivial matters in 2015.<p>With the British system (in short, non-legally binding offer, deposit 5 days before getting the keys), you have plenty of time to do survey and make sure everything is correct without risking your deposit. For better (buyer market) or worse (seller market) negotiation is open till the very end when both parties have maximum information.<p>I have seen friends struggling in similar seller market in more &quot;civilised&quot; countries. They had less risk of gazumping, but the risk of betting blind is very real.<p>As for the lease holding, there is no simple &quot;flat ownership&quot; as it is part of a building and that means shared responsibilities on the common and weirdo syndic &#x2F; condominium &#x2F; association of owners. I don&#x27;t mind the British way, but I suspect that is mostly because I have a good landlord but had a flat in a shitty community in Spain.