Gazumping is when a seller accepts your bid, the house goes sale agreed, and then the seller takes a higher offer from someone else. It's legal in Ireland, because nothing is binding until contracts are signed by both sides.
Why it happens
- Sale agreed isn't a contract. Either side can walk away until contracts are signed.
- Some agents keep showing a sale-agreed house, or keep taking bids.
- A long gap between sale agreed and signing gives other buyers time to come in.
How to lower the risk
- Move fast after sale agreed. Have your solicitor, survey and mortgage ready before you bid, so contracts can be signed within weeks, not months.
- Ask the agent to take the house off the market and stop viewings once you're sale agreed.
- Keep in touch. A buyer who is clearly moving is less likely to be dropped.
- Keep everything in writing, so there's a clear record of what was agreed and when.
If it happens to you
You'll get your booking deposit back. It's painful, but it's also a sign to move on: a seller who gazumps once may do it again. See what happens after sale agreed.