UK
Gazundering
Gazundering is when a buyer lowers their offer late in the sale, often just before exchange, after the vendor has already accepted a higher figure.
Why buyers do it
A survey may have found work, a mortgage valuation may have come in low, or the buyer may be using the vendor’s commitment to the move. The vendor can refuse, renegotiate, or put the property back to the market. Nothing forces them to accept the new figure before exchange.
The agent’s note
Pass the revised figure on as the buyer’s offer, with the reason they gave, and without dressing it up. The vendor decides. If the sale then falls through, update anyone you had told it was proceeding.
Questions
What does Gazundering mean?
Gazundering is when a buyer lowers their offer late in the sale, often just before exchange, after the vendor has already accepted a higher figure.
General information for agency staff, not legal advice. Rules and local practice change. Check the official source before you rely on a definition in a client letter.