With the massive rise in property prices over the past two or three years we have seen the reimergence of the 1980’s spectre of gazumping. Whilst not quite as preverlent as back then it has mainly come about due to high demand and low supply. As Estate Agent’s we hear of many stories regarding gazumping some are unfortunate but most are not surprising at all.

The majority of cases eminate from people who have agreed to purchase a property prior to marketing their own. They have unwisely thought their own home would sell quickly and have not prepared their home for marketing .

Place your own property on the market at the same time of your search and do not make the mistake of thinking your home will necessarily sell quickly. Time after time vendors accept an offer from a buyer who has interest on their own property over those yet to market their home.

You may be able to negotiate a ‘lock out’ or exclusivity agreement as part of your offer which will not allow the vendor to accept another offer for a pre-agreed timescale. However, unless lawyers agree a pre-contract agreement, it is nothing other trust between two parties.

Ensure that as soon as you agree a sale you instruct a lawyer and book a survey as quickly as possible.

Stay in touch with the Agent, they are there to help the transaction run smoothly and it will show the owner you are serious about the purchase.

Process your mortgage application at the same time as your search so that you are not hampered by bureaucracy once you do find a home.

There is no guarantee but if you follow the above fundamental points it is unlikely you will be gazumped.