The Chonkerton

Plans to end gazumping with binding agreements in house sales shake-up

business

The UK government is moving to end gazumping—the practice where house sellers back out of already-agreed deals. New rules will make sales agreements legally binding sooner and require sellers to provide more property information upfront. According to the BBC, these changes are designed to protect homebuyers and add certainty to what is often one of the largest financial transactions of their lives.

Source: https://www.bbc.com/news/articles/c6216g52p8wo?at_medium=...

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