Forum Topic

How common is gazumping?

Last we we agreed both house sale and purchase. This week the vendors took the property off the market after a prospective buyer who knew the house was under offer approached the vendor. So how common is this? Why has England not followed the Scottish law which penalises such unethical behaviour?

Graham Weeks ● 3090d4 Comments

Another good element of the Scottish system is that all homes have to have a sellers pack produced at the expense of the seller before the property is marketed. This includes a full survey and speeds up the process once an offer is accepted.This along with a non-refundable deposit held in escrow means that gazumping is virtually unheard of 'north of the border'.

Paul Gibbs ● 3089d

I agree.  We found the Scottish version of some planning regulations that were far more sensible recently.  Why has English law not followed Scottish?  Probably simply because of arrogance - and/or lack of public lobbying.

Philippa Bond ● 3089d

I am angry but the ladies tearful. I have now learned you can arrange a locked in contract to prevent it. But that costs and is the likely gazumper going to sign?

Graham Weeks ● 3090d

Buying and selling houses is so stressful. It's the only time in my life I have become hysterical and stamped my little foot (actually, it's a size 8).

Susan Kelly ● 3090d