Ban gazumping in the housing market

Background

In Scotland, acceptance of an offer to buy a property is legally binding and requires the payment of a deposit. I am looking for the law to be changed in England and Wales in the same manner.

Additional details

Currently in England and Wales, it is possible to agree to the purchase of a property, and invest money in surveys and legal fees (not to mention time and emotional energy), only for another seller to come in with a higher bid and the sale is lost, along with any costs incurred i.e. "gazumping". This needs to stop.