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Gazumping

Thu 19 May 2016

 

 

 

 

For your information:

Ministers are reportedly considering a crackdown on buyers and sellers who pull out of a deal at the last minute, or who try to gazump or gazunder each other.

They are considering making house purchases legally binding much earlier in the process – for example, at the stage where an offer is accepted.

This will mean you can not pull out of a sale without costs encurred

If either the buyer or seller pulled out afterwards, they would have to pay the other party’s costs.

 

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