Thursday, 19 October 2017

‘Gazumping’ could be banned in shake-up

THE experience of buying a home could be about to get much less frustrating, as the

THE experience of buying a home could be about to get much less frustrating, as the practice of “gazumping” — namely, buyers outbidding others who have already put down an offer — could be about to be banned by the government.

Private meetings have been held with industry representatives to discuss bringing forward the point at which house sales become legal, in line with Scotland.

Gazumping is known to cause disappointment and frustration for buyers who think they have secured their dream home — only to find they lose it overnight to someone with more cash.





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