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The term gazumping is not used in the United States.
The term gazumping is most commonly used in the UK and Australia, although similar practices can be found in some other jurisdictions.
"With the fierce competition for homes, rental gazumping is becoming more commonplace and properties are being let beyond asking price, putting further upwards pressure on the market.
Agreement on an offer for property purchase is a legally binding contract, resulting in a system of conveyancing where buyers get their survey done before making a bid to the seller's solicitor, and after a closing date for bids the seller's acceptance is binding on both parties, preventing gazumping.
It is often wrongly claimed that gazumping is a rarity in Scotland because it is said that an oral agreement on a property deal is legally binding; while the law on contract differs from the law in England, the rarity is due to the different system of conveyancing.