I seem to remember not so long agao that in Scotland there was protection from gazumping but NOT in England and Wales. I was just wondering if this was still the case or had some new law been introduced to protect buyers. Any direct or indirect information would be gratefully received. Many thanks.
2007-03-12 09:50:45 · 8 answers · asked by Michael T 3 in Business & Finance ➔ Renting & Real Estate
There is no law in England,,,,
2007-03-12 09:54:06 · answer #1 · answered by Roachy 2, 3 · 0⤊ 0⤋
Scottish house sales are more of a blind auction than the England and Wales system so the conditions for gazumping don't exist.
There is no protection against it in E&W.
Because estate agents are paid by % comission and so get lots more money if a guzump happens they have no incentive to stop the practice.
2007-03-12 17:06:51 · answer #2 · answered by Anonymous · 1⤊ 0⤋
Nope, still no laws against gazumping in england and wales....it's about time we followed scotland on this one if you ask me!
2007-03-12 16:54:21 · answer #3 · answered by nevine1982 3 · 0⤊ 0⤋
as far as i know you are allowed to gazump in england and wales but you are not allowed to in scotland - i think there was talk of this not being allowed anywhere but i dont think anything has been brought in as yet.
2007-03-12 16:54:21 · answer #4 · answered by Anonymous · 0⤊ 0⤋
No but there are some steps you can try to protect yourself, see first link.
The estate agent may also be part of the ombudsman scheme and you can get some cover that way, see second link. The amounts don't seem to be much though.
Finally, some mortgages have a option for additional insurance but it does seem to be much.
2007-03-14 09:26:33 · answer #5 · answered by fleacircusdirector 3 · 0⤊ 0⤋
No there are no laws. You can gazump as much as you like.
2007-03-12 16:53:53 · answer #6 · answered by Anonymous · 0⤊ 0⤋
I just checked online and it still only applies in Scotland
2007-03-12 16:55:41 · answer #7 · answered by Anonymous · 0⤊ 0⤋
no
2007-03-12 21:02:11 · answer #8 · answered by bluecow 5 · 0⤊ 0⤋