Plans to limit the scope for gazumping
Your support helps us to tell the story
From reproductive rights to climate change to Big Tech, The Independent is on the ground when the story is developing. Whether it's investigating the financials of Elon Musk's pro-Trump PAC or producing our latest documentary, 'The A Word', which shines a light on the American women fighting for reproductive rights, we know how important it is to parse out the facts from the messaging.
At such a critical moment in US history, we need reporters on the ground. Your donation allows us to keep sending journalists to speak to both sides of the story.
The Independent is trusted by Americans across the entire political spectrum. And unlike many other quality news outlets, we choose not to lock Americans out of our reporting and analysis with paywalls. We believe quality journalism should be available to everyone, paid for by those who can afford it.
Your support makes all the difference.CHRISTINE EDMANS, a housing worker has been gazumped three times.
She and her husband, Iain, were among the many people who welcomed moves by the Government yesterday to end gazumping and the historic rule, caveat emptor - let the buyer beware.
The couple from West Norwood, in south London, put in offers on three houses each time losing it to a higher bidder at the last minute.
Christine who was pregnant with their second child became depressed and angry, on one occasion confronting the vendor and begging him to accept their offer. The couple had found the house they wanted although they had to increase their price range and offered the asking price, pounds 135,000.
But they were told by an estate agent that a barrister had demanded a view and made a higher offer. The Edmans matched it, but the barrister offered pounds 15,000 more, which they could not match.
When she went to the seller's home in Colchester with her children to plead for the house, he said pounds 15,000 was too much to give up.
Eventually after two years in rented accommodation, and pounds 2,000 on wasted legal fees, they found a home in West Dulwich. Yesterday Mrs Edmans said: "People are greedy, it's human nature, but I think vendors should be bound to accept offers and should face financial penalties if they renege."
The new proposals will make house sellers responsible for surveys to speed up the process and give less scope for gazumping.
Estate agents are bringing out their own proposals next month to place more responsibility on the seller.
The Government is hoping to improve the process of house buying without legislation by asking estate agents to encourage sellers to produce "sellers' packs" giving more details of their homes.
Jim Atkins, vice president of the National Association of Estate Agents said: "I personally don't see that as workable.
"You would have a two tier system if somebody was selling their property privately. If it is so important for the Government to support it, it should be mandatory."
The Association denied that the new measures would add around pounds 1,000 to the price of each house.
The Association Housing minister, Hillary Armstrong, is due to publish the Green paper next month offering a range of measure to tackle gazumping.
A Government survey in Scotland, Wales and England has shown house sales take on average at least three months.
Join our commenting forum
Join thought-provoking conversations, follow other Independent readers and see their replies
Comments