Gazundering

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Gazundering is the practice of demanding a reduction in price to secure the sale of a property. This is usually done during contract negotiation. The timing of this demand is usually intended to prevent the seller from rejecting the lower price, as the sale could collapse if they did, although it may also reflect a genuine downturn in property prices in an area.[1]

This is the opposite of gazumping.[2]

[edit] References

  1. ^ Spiegel, Rachel. Gazundering is good. .firsthomebuyer. Retrieved on 2007-10-11.
  2. ^ Gazumping and Gazundering - Channel 4
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