Competition among buyers in the market leads to financial losses and disappointments

Four out of five (80%) of home buyers in England and Wales would like the government has passed laws regulating “gazumping” in the real estate market. A third of buyers are ever faced with this phenomenon over the past 10 years. The phenomenon of “gazumping” (gazumping) in the real estate market is when the new buyer interrupts at a price the buyer has entered into the transaction. This phenomenon is spreading in a highly competitive market , when real estate is not enough for every subject fighting a few buyers. Two out of five (39%) of buyers according to the survey, were forced to pay money to the intermediaries, despite the fact that the transaction of sale was not completed. As the demand for residential property in the UK is still very high, the process of buying a home continues to remain exclusively in the fierce competition among buyers. Many buyers out of a deal with a big disappointment and, in addition, with financial losses. Exception complex series of sales and access to Finance would allow to avoid frustration of customers, but requires action at the legislative level to avoid the phenomenon of “gazumping”. Today’s market is that 43% of customers are ready to buy a home, killing a competitor’s price. ® Angliadom. Helen Entree. 21.11.2019 G.