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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

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.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
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She believed next year's introduction of home information packs, also known as sellers' packs, would help minimise the risks of being gazundered or gaz- umped.
Another way to make sure you don't end up out of pocket is to take out insurance against the risk of being gazumped or gazundered.
It's much harder to be gazumped or gazundered if you've got a relationship with them.
I have been gazundered. No, this is nothing to do with a big night out - 'last night was mad.