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gazunder |
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Gazunder A situation in which a potential buyer of real estate revises his/her bid for less money before the transaction is finalized. For example, if one originally offers $200,000 and the seller accepts this, a gazunder occurs when one reduces the bid to $175,000. A gazunder is risky because the seller is under no obligation to accept the gazunder. Generally speaking, a gazunder occurs when the buyer is confident that the seller will accept the new price, especially when there are no other potential buyers and real estate prices are crashing. gazunder An action by a buyer to lower the offer for goods or property after the seller has already mentally spent the purchase money and is emotionally invested in a sale at that time,but immediately before the paperwork is signed. Contrast with gazump. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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Carol says: "Our prices start from just pounds 134,995 for a three-bedroom home but we also have our Part Exchange Fall-Back scheme, which is a great way to guarantee the sale of your current home, avoid gazundering, and possibly make a little extra. It can also protect against gazundering, when a buyer reduces their offer, often substantially just before legal completion is due. Collapsing chains, abortive fees, gazundering, gazumping and hidden mortgage penalties can prove ruinously expensive and emotionally devastating. |
Gazundering |
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