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➡ Gazumping is when, after your offer is accepted, another buyer comes along and makes a higher offer 😡
➡ It can happen at any point before contracts are signed and exchanged ✍
➡ You may even have spent time and money on getting your mortgage approved, instructing solicitors, and doing surveys, and still get gazumped 🤕
➡ You have to raise your offer or start a new property search 🤷‍♀️
➡ Is it legal?! In England and Wales... Yes 👩‍⚖️
➡ In Scotland, it's legal too - except, contracts are signed right after an offer has been accepted making gazumping almost impossible! 👍

💡 To give your best chance of not being gazumped:

1️⃣ Ask for the listing to be marked as SOLD immediately! 🤝
2️⃣ Move fast - have all your documents ready, the less time between offer and exchange the better ⏳
3️⃣ Let the seller know it's your DREAM PURCHASE and that you're SUPER ON-IT by replying to emails/phone calls immediately! The seller will be less swayed by others if they see you're doing everything you can to complete the sale 🏁

📩 Buying and Selling PDF Guide: https://lnkd.in/eBMn68c 📩

For further advice, contact our team 🦹‍♀️🦸‍♂️


Posted 06 May 2021
by Ali Baylav Managing Director Cavendish Residential

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