If one were to believe the press, Gazumping in Manchester is common practice.
Luckily, the reality is that it affects less than three percent of conveyancing transactions. Our Manchester Conveyancing team has seen very little evidence of Gazumping in Manchester over the last 12 months although local agents indicate that it may be on the rise.
When gazumping does occur, it can be most unpleasant for a would-be buyer. The gazumped party not only has their plans for a dream home disrupted, often left with a bill for legal fees and survey fees of several hundred pounds.
Conveyancers focused on conveyancing in Manchester or any other area should be able to minimise the chance of gazumping by virtue of being quick and having a good line of communication with the seller’s conveyancing solicitor. More recently, as the property market has begun to pick up in more desired areas, there is increasing talk both about Gazumping in Wales and Gazumping in London.
Our Conveyancing in Manchester Team, despite completing hundreds of properties in the locale properties in recent months, have only reported one gazumping case.