I have a few websites and one of them is assisting people to purchase new new property. The inexperienced first home seekers are usually frail, the weak and can be trampled on. Real Estate Agents may not explain the complete process of purchasing, just make it as short as possible as they may be dealing with many people seeking to purchase the one property.
One the dealing that probably happens less today is gazumping. That is when you think you have purchased the property and someone else bids over you. The Seller always wants the highest price for the property as well as the agent- based on current Market Values and the buyer wants the least price to pay, based on "Homework done on property research"!
Purchasers may not be aware of these laws , as they settle pay a holding deposit and maybe told they can't purchase that property for that price, unless they want to raise the offer! So her is some details on gazumping based on how I understand and my previous experience Click here!
There is a suggestion also provided for the NSW Government to look at!
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