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gazundering - what is it and how can I avoid it?

>>you’ve accepted the offer, packed your bags, and even started packing, and then your buyer suddenly drops their offer. Now what?

Gazundering is frustrating, but it is a perfectly legal tactic (one that can cost you thousands). Here’s why it happens, and how you can protect yourself from it.


why do buyers gazunder people?

There are three main reasons why someone might try to offer a lower price at the last minute:
  • They may have spotted something in the survey or seen house prices falling in the area 
  • Their financial situation might have changed, but they have their heart set on the house
  • That’s just the nature of the person, and it’s their negotiation tactic

how to stop yourself from being gazundered

While you can’t just wave a magic wand and stop it from ever happening, there are plenty of things you can do to reduce the risk:
  • Be realistic about your asking price
  • Pick someone who is not in a chain, and look out for buyers who already have their mortgage approved
  • Keep the conversation going and give them regular updates on progress
  • Get all your paperwork sorted early, and be quick to respond when your solicitor needs something
  • You can also request a 'lock-out agreement', which may give you a bit more security during the process

what are my options when being gazundered?

Don’t worry just yet. If you’re being gazundered, you’ve got options. 

Start by standing firm. Tell them you’re not in a rush and see if you can call their bluff. 

You should ask their reasoning for gazundering. If it’s down to things like survey findings or planning permission, then you might have to be flexible on price. 

Before all that happens, though, speak to your estate agent; we’ve seen it all before and can help you navigate the situation.

And remember, you don’t have to sell to them. Nothing has been signed yet, and you can always walk away from the sale. 


the good news

While gazundering can be a real headache, being clued up and taking these steps can help protect you. 

Don't let last-minute price reductions derail your property sale. 

Our experienced team can help you navigate the selling process with confidence and minimise the risk of gazundering.

To find out how we can help you, speak to your local branch today.