The UK government is considering banning gazumping in an effort to streamline the home buying process. Gazumping is specifically when the seller goes ahead and accepts a higher offer after they’ve already committed to sell to another party. About one quarter of all property sales in England fall through, in part, because of gazumping. Sajid Javid, UK Communities Secretary, recently announced a several week review of the buying process. The goal is to ultimately streamline the property buying process, making it faster and cheaper.
Read more: UK government could ban gazumping to tackle stressful house-buying – Business Insider