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Gazumping is when the  owner of a property accepts and offer from a buyer but later changes his mind when they receive higher price.

Gazumping rates is reported to have risen to 36% in London, recently.

If you are buyer, how to reduce the risk of being gazumped?

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The safest way to avoid being gazumped out of your dream property is to get  all your  paperwork  completed and ready.

In Scotland, though, gazumping is down to only 1% while in London it's 35% ! In Scotland written offers are legally binding.

Normally cash buyers can close the deal faster but if you are mortgage buyers you need to build a rapport  and share your plan with the seller and make them believe it's your home now.

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