A new survey from eMoov has shown that Brighton is the gazumping capital of Britain.
In Brighton 34.9% of people have had homes gazumped compared to 22% on average in the whole of the UK.
This is also a common occurrence in the competitive London market, as 31.9% of buyers in the capital have had a chosen property snatched from their grasp. The rise of sealed bidding in the capital makes it especially easy to be outbid later on after having the initial offer rejected.
Russell Quirk, chief executive of eMoov.co.uk, said: “It is one of those things in the current structure of property purchasing unfortunately.
“Buyers that have displayed honest interest in a property only to be let down by owners with pound signs in their eyes, often encouraged by traditional estate agent looking to increase his fee percentage.”
You can read the whole article at Mortgage Introducer [Edit January 2018: Link no longer working]