Gazumping?
All Ogle, No Cash -- It's Not Just Annoying, It's Un-American
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gazumping . A bad thing.
Wow - no not a good thing. And a new (to me) word. Thanks Fay.
BTW - does this mean property values are still rising in London?
Oh, a seller who accepted a gazumper's offer here, would end up in court, and would lose. Offers are made by the would-be-buyer, and presented with a small sum of money. If the seller accepts, it's legally binding.
Fay - how is the word survey used in that piece? When we use survey, it generally means having the borders of the property surveyed. When we're buying a home, we generally don't have it surveyed because the property description and/or the deed contain the information on the lot lines. Instead, we have the home inspected to ensure that it is sound and/or find any mechanical or structural problems (insects, rotting sills and beams, faulty wiring, etc). If problems are found, the buyer may try to renegotiate the price he originally offered, although the seller doesn't have to accept the renegotiated price.
I should admit at this point that I have never bought a property and know less than nothing about buying property. To the best of my knowledge, house prices continue to be beyond hideous in London - I know they were supposed to drop a bit, but I don't know whether they have. It's not something I keep abreast of. They're going up up up all the time in the North, though, heaven help us.
To the best of my very very limited knowledge, the survey means checking out the property - the building and everything, not just the land. But I may be on crack.
What is the Scottish version of Miranda?
Probably Mirrrrrrrrranda ita !
Yes the survey covers the condition of the building and looks at what might be being built in the environs in the forseeable future.
The legal search covers the boundaries and suchlike.
Why is it called the Miranda speech? Is there a bit about Brave New Worlds?
Why is it called the Miranda speech?
It's based on a criminal case here in the States, where the defendant's last name was Miranda. The defendant was a Spanish speaker who was convicted without ever being made aware of his rights to a lawyer, and to not have to talk to the police.
But we don't refer to it as 'Mirandising' in the UK.
It's called 'Being Read Your Rights'.