How can I be sure that I will not be gazumped?
There is no binding agreement on either party until contracts have been exchanged, but there are strict Law Society rules concerning a seller’s solicitor sending out a second draft contract. Occasionally an exclusivity agreement can be entered into giving a specified period within which contracts are exchanged and during that period no gazumping can take place. This agreement is often not acceptable to a seller and does increase the conveyancing costs.
