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Gazumping is back! Call for action as two in five house sales are hijacked by higher bidders


There were fresh demands for action to stop gazumping last night after more than a third of house sales were hijacked by a higher bidder in the last year.
Two in five buyers admitted securing a home by putting in a better bid after a sale to someone else was agreed but before contracts were exchanged.
The practice, which is not illegal, was the leading cause of property deals not going ahead in the last 12 months, says comparison site Comparethemarket.com.
It comes amid a buying frenzy which began as the market reopened in May last year and was boosted by Chancellor Rishi Sunak’s stamp duty holiday. ....

United Kingdom , Northern Ireland , City Of , John Charcol , Nicholas Morrey , Iain Mckenzie , Matt Oliver , Mark Hayward , Robert Gardner , Paula Higgins , Homeowners Alliance , Chancellor Rishi Sunak , Property Professionals , Conveyancing Association , City Correspondent , ஒன்றுபட்டது கிஂக்டம் , வடக்கு ஐயர்ல்யாஂட் , நகரம் ஆஃப் , ஜான் கரி , நிக்கோலஸ் மோரி , இயேந் மகெந்ஸீ , மேட் ஆலிவர் , குறி வைக்கோல் , ராபர்ட் கார்ட்னர் , பால ஹிக்கின்ஸ் , வீட்டு உரிமையாளர்கள் கூட்டணி ,