The word 'gazumping' puts fear into the hearts of every homebuyer, but what exactly is gazumping and how can you stop it from happening?

Despite the government's attempts to clean up the house-buying process, gazumping still thrives. But is there anything you can do to stop a seller doing the dirty on you and accepting somebody else's higher offer?

In a boom market everyone will be after the "it" property. That's the one in an established area where the bins aren't spilling into the street and most properties have been painted within the last five years. It's within good reach of all the best trains and buses and a reasonable selection of shops and restaurants, the rooms are spacious and light and look out on to something more interesting than other people's drain pipes.

Everyone wants it and they're willing to pay more to get it. The owner could quite easily be tempted into one of the more unpleasant games in the property market - the gazump.

To gazump

To accept a higher offer after already accepting another buyer's offer. The gazumper is the seller: the buyer the victim. The gazumper wants the best price for his property. The other buyer doesn't know you and is prepared to pay more to push you out of the running. If he succeeds, you've been gazumped.

How do you stop it

• Get in first and ensure you're ready to move. Stay ahead of the game, have financing in place and appoint a solicitor before making an offer.
• If you are in a boom market and the property has 'the it' factor - don't quibble - offer the asking price.
• Ensure your solicitor moves with speed.
• Make your offer conditional to an anti-gazumping contract (consult the Royal Institute of Chartered Surveyors) where both parties agree to abide by the deal for a specified time.
• Get the survey done quickly.
• Call the seller/agent almost daily and ensure they know you are keen to buy and things are moving forward. This way if there are other offers around you are bound to find out.
• Be amenable to the demands of the seller to a degree - if he/she particularly wants the front door knocker and to move on a certain day, try and fit in.

Do not

• Jump the gun. If the seller says they would like a higher offer but has accepted yours just move as swiftly ahead as you can. They obviously want to move quickly or they would not have accepted your offer.

If another buyer appears

• Don't let bids spiral. If you want to match the higher offer do so, but don't keep bidding up. Appeal to the seller's better nature but don't get cross.
• If the other buyer makes a still higher offer suggest the property goes to sealed bids. This is when all potential buyers put their best and final offer in a sealed envelope which is opened by a solicitor at a given time on a given date. The best offer tends to win. However, sellers still sometimes chose an 'underbidder' because they are in a better position to move.

Sadly there's no win-win answer to gazumping. If an owner is willing to keep on changing buyers and someone else is determined to pay more, then you might lose. But there's a moment when knowing your financial limits is more important than fighting over bricks and mortar.