Gazumping could be banned

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  • Gazumping could be banned as part of Government plans to make buying and selling a home "cheaper, faster and less stressful".


    Communities Secretary Sajid Javid has called for evidence from mortgage lenders, solicitors and estate agents as ministers consider proposals aimed at streamlining the process of buying a property.


    Although around one million homes are bought and sold in England every year, a quarter of sales fall through.

    About time too. The system of buying and selling houses in this country is ridiculous and always has been. Once an offer has been made ( Subject to survey.) and accepted by the seller it should be legally binding. Whole chains of sellers and buyers are inconvenienced and sometimes put to enormous expense because greedy people get a better offer at the last minute.


    When I was selling a house once, on the day the contracts were due to be exchanged the buyer rang me and said he couldn't afford to buy unless I dropped the price. I'd already agreed to buy another house and was left with no choice but to agree to the new offer and lose money or lose the chance to buy the home I wanted.


    This whole businesses should have been sorted years ago.

  • No doubt solicitors will be looking a this and rubbing their hands as it will be something they can make a few quid out of.

    Young boys in the park jumpers for goalpost that's what footballs all about isn't it.

  • Doesn't Scotland have a law preventing gazumping already? Buyers make sealed bids and the highest offer wins.


    I think this is a very good idea, not that I've ever experienced the stress of moving house yet.


    When I was selling a house once, on the day the contracts were due to be exchanged the buyer rang me and said he couldn't afford to buy unless I dropped the price. I'd already agreed to buy another house and was left with no choice but to agree to the new offer and lose money or lose the chance to buy the home I wanted.

    That's basically how I ended up with my current scum neighbours.


    My old nice neighbours were moving to Kent and they were under a strict time limit as they had to be in place for the beginning of September as they had agreed with their kids, that they would look after their grandchildren after school. They told the buyers of their house this information...


    The scum phoned them up on the 15th August, the day of the move, and very close to the beginning of the school term in September. My old neighbours were told to lower the price or they wouldn't buy. My old neighbours had no choice but to accept, knowing that if they refused, they would lose the house they were buying and the whole chain would be broken and it would be months before they could move.

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