Homebuying: A contract to keep the gazumpers from your door

Published by Guardian
Esther Shaw and Jill Insley; Sunday 26 September 2010

A housing forum aims to do more to empower buyers, but are the upfront costs any guarantee of success?

Homebuyers and sellers could have access to a new contract which reduces the risk of a sale failing as early as next year, according to former head of the Office of Fair Trading, Sir Bryan Carsberg.

Carsberg, who is president of the E-Homebuying Forum, said the organisation is working on a template for a contract that will deter buyers and sellers from welching on the deal before it reaches the point of exchange. “We are looking at providing a lock-out agreement that would, among other things, stop gazumping and gazundering. But it would be voluntary, not a requirement for the buyer and seller to sign up.”

The contract would require … continue

Tags: agreement, contract, homebuying, landlord, law, tenant, voluntary

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