Question

To ask the Secretary of State for Business, Innovation and Skills, what steps he is taking to encourage estate agents to notify buyers and sellers of the cost guarantee and other options available to them to prevent the practice of gazumping.

There are many different contractual arrangements buyers and sellers of property can enter to help manage risks and uncertainty in the process. They all entail different levels of risk, costs and benefits to both parties. The Government supports free, independent advice and guidance for consumers, through its funding of Citizen's Advice, across a wide range of issues. However, ultimately matters such as conveyancing contracts should be discussed with a buyer or seller's solicitor who can advise on the best approach an individual could take, should they wish to do so, according to their circumstances.