Gazumping

A seller of a property may require a buyer to enter into a lockout agreement.It is usually drafted by the estate agent or the seller’s solicitor. It requires the buyer to pay an initial deposit to the seller’s solicitor to demonstrate their intention to buy the property.The agreement...

  According to the new president of the E-Homebuying Forum, Sir Bryan Carsberg, the future of the conveyancing market for England and Wales lies in partnerships being formed by solicitors and estate agents to form a ‘one stop shop’ for sellers. He went on to say that they...

There is no requirement in law for either party to pay a preliminary deposit to the other party since there is no legal contractual obligation to go ahead with a sale or a purchase until exchange of contracts has taken place. However, you will find that in some cases a preliminary deposit is...

There are many things that can slow down property conveyancing.  If you are worried about completing quickly these things could get in the way! Mortgage Application Process – the majority of people who purchase a property require mortgage assistance to do so. Ideally, this should be...

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...

Take a breath - Gazumping in London is not nearly as common as the press would have you believe. It affects 1 or 2% of conveyancing transactions.Of all the areas we cover for conveyancing across England and Wales  it is mostly seen by our Conveyancing in London team and the south east where...

Fridaysmove who conduct Conveyancing in Wales are now on notice of Gazumping as leading state agents in Wales having indicated that gazumping had returned to the Welsh housing market in a further sign that confidence in the sector is growing, property experts said yesterday. Those specialising in...