Gazumping in Real Estate by Fred Dalzell.
During the end of 2019 I brought out a bid on a home which was being marketed by real estate company Fred Dalzell & Partners. After some negotiation the (private) seller accepted our offer which was confirmed to us by Fred Dalzell & Partners. Our bank confirmed our mortgage as we proceeded to complete the mortgage paperwork. Less than 3 weeks later we were told that the seller had changed his mind. Fred Dalzell explained the procedure was bad for his business and they removed the property from their website. Two weeks later they contacted us again for another offer as the property was back on the market. I was astounded as they had previously accepted my offer and continued selling the property while I had already incurred £250 in costs. This real estate company is clearly happy to engage in gazumping and has no scruples as to how they treat their customers. They are absolute crooks and are also happy to lie to the customers. I think that Fred Dalzell and Partners damages the real estate business and should be monitored closely by government authority. Be careful with them because as they are happy to lie and cheat and they do not abide by any confirmation which they give either written or verbal. They belong behind bars.
gazump
/ɡəˈzʌmp/
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verb
gerund or present participle: gazumping
1.
INFORMAL•BRITISH
make a higher offer for a house than (someone whose offer has already been accepted by the seller) and thus succeed in acquiring the property.
"the trio are fuming after they were gazumped by a property speculator"
2.
INFORMAL•DATED
swindle (someone).
"I gazumped a friend of mine with complete success last night"