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The worry and how to reduce it? Gazumping
Kuztardd
Posts: 153 Forumite
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Kuztardd wrote:You see a wonderful pad, make an offer, yet it can take a month or more before you exchange contracts. :eek:
Is that month full of worry and stress? not because the surveys may come back with bad news, but with the chance that you may be gazumped?
What tricks or persuasions can be employed to make sure that the seller doesnt show more people the place?
How can any gazumping problem be reduced?
A month between offer and contract exchange is pretty quick - most house purchases take between 8 - 12 weeks.
The Governments response to the Gazumping problem is the infamous information packs."You were only supposed to blow the bl**dy doors off!!"0 -
Kuztardd wrote:Could we demand that it is taken off the market if an offer is accepted?
Demand is a bit strong
You could state that your offer is dependent on them taking it off the market. It ought to prevent any new viewings - you will need to ask if there are any viewings already "in the pipeline".
Are you in a strong buying position? Do you have a property to sell? Do you have a mortgage offer "in principle"?Warning ..... I'm a peri-menopausal axe-wielding maniac
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When we made an offer we stated one of the conditions was that no other viewings would happen and it wouldn't be advertised any more. They were willing to do this.0
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it is a good thing your in a great psostion. itsa a bad thing the owner is on the market with 5 agents. the agent your buying from will do all in thier power to keep you buying the home, the other 4 agents will be doing all in thier power to sell it to someone else to get commission ( if they dont sell they get nothing) I would make it a condition that your offer is subject to the property coming off the market, the agent you offer through will agree vigourously.
rich0 -
Why not wait... and them gazunder (sp?) them?0
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