Make sure your finances are in place and that you have a mortgage agreement in principle. It is essentially a letter from a lender that states how much they would be willing to lend based on an initial assessment of your circumstances. The shock turns into anger, and you wonder how gazumping can be allowed. Isn`t it a theft? Perhaps you would like to consider a “lockout agreement” or “exclusivity agreement”. The act of gassing can take place at any time before the exchange, so it is important to be able to proceed quickly with the exchange if your offer is accepted. Buying at an auction means there`s no risk of gazumping – but it comes with many different risks – so don`t make hasty decisions, as you have to go with your eyes wide open.