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Ban on gazumping possible

Gazumping could be banned as the government looks at measures to make the process of buying a house quicker and cheaper.

Officials at the Department for Business, Innovation and Skills have held talks with representatives of the National Association of Estate Agents. One area under discussion was the bringing forward of the point at which a property sale becomes legally binding.

Some 200,000 home sales a year, or 18% of transactions, fall through, often as a result of gazumping.

Click here for the full Daily Telegraph article

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