Augusta
VIP Contributor
When trying to invest in real estate you might be faced with the issue of. Gazumping. Gazumping happens when a seller accepts a higher amount or offer from a another buyer on a house or property you are buying
The effect of this is that you the initial buyer might be pushed out of the purchase and you would go back to square one of looking for a house.
This issue comes up when a a seller wants to maximise the amount they can obtain from their property. So how can you prevent being gazumped;
You can start by taking out home buyer protection insurance so that you get your purchases covered.
Secondly, you should ensure you have a mortgage in place. Having this in principle will deter any seller from pushing you out of a deal.
Then you should be fast with the whole moving process of buying the asset or home and get all the paper to hinder the seller from doing this.
The effect of this is that you the initial buyer might be pushed out of the purchase and you would go back to square one of looking for a house.
This issue comes up when a a seller wants to maximise the amount they can obtain from their property. So how can you prevent being gazumped;
You can start by taking out home buyer protection insurance so that you get your purchases covered.
Secondly, you should ensure you have a mortgage in place. Having this in principle will deter any seller from pushing you out of a deal.
Then you should be fast with the whole moving process of buying the asset or home and get all the paper to hinder the seller from doing this.
