Are you confused by the title ?
Don’t worry your not alone, but trust me, if you’ve been gazumped you will certainly know about it.
What is Gazumping?
Gazumping is when someone makes an offer higher than the already accepted offer for a property and thus acquires the property.
If you’ve been gazumped it can feel terrible after you’ve spent ages searching for the right property in the right area. You stretched your budget to afford it and your offer was accepted, you were ecstatic. Then one day you have a phone call from the estate agent to tell you you’ve been gazumped. It can be very disheartening.
As far as I’m aware the only option you have (if you have the money) is to gazump the gazumper! Otherwise it’s back to the property listings and property post searching to find your new close-to-ideal home.
There is a phrase some people say ‘if it’s meant to be, it’s meant to be’ which can provide some solace after being gazumped, perhaps this wasn’t actually the house for you. Perhaps there were hidden expenses that you hadn’t noticed that the gazumper will have to deal with. But regardless of sayings and wishing for revenge, gazumping is an annoying practice.