Gazeal
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Regulation & Law
Buyer who ‘withdrew unreasonably’ from property sale to pay £35,000
Landmark case brought by Gazeal is understood to the first of its kind in the UK and, the firm says, shows such agreements are legally sound.
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Latest property news
Trading Standards to be quizzed by agents over ‘material information’ changes
Webinar this week will enable the industry to probe NTSELAT over its requirement that property portal listings include proscribed information from May onwards.
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Latest property news
Gazumping is back as competition hots up in reviving housing markets
Phil Spencer says phenomenon is result of overheating markets and low stock in many cities.
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Latest property news
Phil Spencer says he wants to help end gazumping with Gazeal deal
TV presenter's MoveIQ property advice and services platform is to offers its customers Gazeal's reservation agreement service.
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Features
Proptech – Transformers
A wave of new companies is challenging the old ways of the property industry, with immensely clever technological solutions. Lisa Isaacs spoke to some of the people who are transforming property.
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Latest property news
Yes minister, a solution to gazumping already exists
Tech firm claims its platform already offers a better version of the voluntary reservation agreements the government wants to introduce.
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Latest property news
Want to stop gazumping, Sajid Javid?
When Communities Secretary Sajid Javid earlier this week asked the industry for evidence on how to stop gazumping, reduce time wasting and increase commitment, little did he realise there is already a proptech start-up that says it is the answer. Gazeal, a platform that binds both vendor and buyer together when they are ready to agree a deal, prevents either side “walking away or moving the goalposts”, it says. Gazeal says it believes the fall-through for UK property sales is even higher than the government research published by Sajid Javid on Sunday, which pointed to between a quarter and a third of all sales falling through. Stop gazumping The government research said nearly 40% of buyers who withdraw do so for personal reasons, while 13% do so because they have been gazumped, 10% becaues the vendor withdrew without explanation and 9% because the chain collapsed elsewhere. But sellers have a different view. The government research revealed that they said of sales that do collapse, 35% did so after the buyer withdrew for personal reasons, while 28% fell apart because the buyer didn’t have sufficient funds lined up. Duncan Samuel, Managing Director of Gazeal (pictured, below), says that gazumping is on…
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Latest property news
New proptech consultancy launches, with familiar names
PropTech specialists, James Dearsley and Eddie Holmes, have launched www.proptechconsult.com to help property companies overcome the challenges brought by digital transformation.
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