Gazumping meaning
Gazumping is when a seller accepts a higher offer from another buyer after already accepting yours. Because a sale in England is not legally binding until exchange of contracts, this is lawful. The original buyer may lose money already spent on searches, surveys and legal work.
Gazumping is one of the terms you are likely to meet when buying or selling a home in England. Here is what it means in plain English, and where it fits into your move.
Reducing the risk
Speed is the main defence: the shorter the gap between accepted offer and exchange, the smaller the window. Asking the agent to remove the listing from the market also helps, though it is not a guarantee.
Key takeaway
Gazumping is when a seller accepts a higher offer from another buyer after already accepting yours. Because a sale in England is not legally binding until exchange of contracts, this is lawful. The original buyer may lose money already spent on searches, surveys and legal work.
Frequently asked questions
Is gazumping illegal in England?
No. Until contracts are exchanged neither party is legally committed, so a seller is free to accept a better offer. Scotland's system works differently.
Stage tracker
Keeping momentum shortens the risk window, and MyMoveMate shows what is outstanding at each stage.
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