is a word that has slipped into everyday use but what does it actually mean?
Founder and CEO of eMoov.co.uk, Russell Quirk, said: "Unfortunately, it would seem the practice of gazumping
is once again becoming more prominent as market values continue to climb higher.
Some, for example, have called for gazumping
to be made illegal.
Estate agents claim that gazumping
- where buyers lose out at the last minute to a higher bid - is back in some areas of the second-hand market.
DAVE says: Outbidding a rival buyer at the last minute, known as gazumping
, is an awful situation that estate agents are powerless to stop.
You can view the Society's guidelines and find more info on gazundering and gazumping
by logging on to lawscot.org.uk
Let's start with an admittedly exaggerated definition of gazumping
to highlight a hidden aspect of many property transactions.
TAKE out gazumping
insurance to cover the costs should the worst happen.
NO GAZUMPING Gazumping
is one of the most hated aspects of the property market.
And widespread gazumping
and gazundering would thankfully become a thing of the past.
Christopher, 25, and Ilya, 21, are victims of gazumping
- which has again reared its ugly head in the property market as a lack of affordable homes leaves new buyers literally battling it out to get that first foot on the ladder.
is back as the housing market continues its rebound - but a good solicitor should be able to mitigate its effects.