Fear a Gazump?

5°C, light W but dry.
I rode Mustang with MapMyRide+! Distance: 27.46km, time: 01:18:45, pace: 2:52min/km, speed: 20.92km/h.


My seller’s estate agent phoned today. It’s complicated, but the seller called for ‘final offers’. You pitch your best offer for the house and hope that another interested party doesn’t make a higher bid. Even though I was told last Friday that the house is practically mine, it was at risk. I could be gazumped. The purchase isn’t legally binding until ‘exchange of contracts’. That’s almost the last stage. Searches, mortgage and surveys are always done and paid for. A buyer who is the victim of gazumping is very vulnerable right up to that time. It’s precarious and risky. There is nothing in English housing law to protect us from gazumping.
The worst part, personally, is the anxiety that all that time is wasted. Time to imagine how you’ll adapt to your new home, where to put things and what improvements to make to the house. Over time, we all adapt our house to make life easier and fit in with our personal needs.
I’m starting again, and I want to use the opportunity well. Structural updates need to be done first. For example, adding power sockets, moving lights and shelves. The most dramatic changes can’t be done yet. It needs a decent kitchen and even better, a utility room to the side.
As you can see, my head is full of thoughts and I don’t want it shattered by loosing the house. Gazumping is an appalling prospect.

The agent phoned a few hours later to say ‘the house will be mine’. Phew.

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