Glossary: Gazundering

As gazumping hits buyers, gazundering hits sellers, and is the practice of a buyer demanding the seller to reduce the property’s price to secure a definite sale. Gazundering is usually done during contract negotiation and frequently timed to prevent the seller from rejecting the lower price, as a rejection could jeopardise the sale. Gazundering usually happens when the property market is experiencing a downturn.

Relevant to: Selling

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