The Myth: Gazumping is a Criminal Offence
Being 'gazumped' (when a seller accepts a higher offer after already accepting yours) is incredibly frustrating, but it is 100% legal in England and Wales.
You view a house, make an offer, and the seller excitedly accepts. You spend £1,000 on surveys and legal fees. Weeks later, the estate agent calls to say the seller has accepted a higher offer from someone else. You have been 'gazumped'.
Many buyers are furious to discover this practice is entirely legal in England and Wales. Because a property transaction is only legally binding at the point of 'Exchange of Contracts'—which often takes months to reach—any accepted offer prior to that point is merely 'Subject to Contract'. The seller is legally free to entertain higher bids at any time before the final exchange.