Ask The Experts

Question #15

What is gazumping?

Gazumping is a process where a seller accepts a higher offer from a buyer when they have already accepted an offer from another buyer. Although the process is not illegal, it can be hugely frustrating for those involved. As an agent, we have a duty to make the seller aware of any offers that are made on their property until an exchange of contracts takes place with a buyer.

#sales #gazumping

#15

Answered by

Steven Morton

Residential Sales

Steven has worked in property sales for over 11 years. He started his career at Acorn aged 23 in our central London offices and has developed an expert knowledge of the London and Kent property market. Steven now the heads up our estate agency sales division along with our corporate sales team.