High time we got to grips with gazumping
A vile habit of the boom years is back, but there are measures being taken to stamp it out again
Gazumping, as you probably know, is that vile practice whereby a vendor accepts a verbal offer on a property from a potential buyer, but then accepts a higher offer from another buyer. While it’s not illegal here, it’s not exactly ethical. It also tends to peter out when markets begin to fail.
In my naivety, I had hoped the despicable habit would have been eradicated with the property market crash. Rather,...
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