Make Gazumping illegal

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Make Gazumping illegal

Additional Information

Gazumping should be made illegal. (Gazumping refers to a property seller accepting a price verbally, but then accepting a higher offer before contracts have been exchanged). Current law governing the purchase of property and land interests was created with the intention of providing honesty and good faith in such transactions. However, the way that the law is structured, requiring a contract of sale to be completed in writing is open to abuse by vendors and estate agents and can leave people devastated and out of pocket.

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