Gazzumping has re-started

IveSeenTheLight

Amazing really.
Reported on this website was a guy stating he was gazzumped.
I'm surprised in this environment.

Of course there are always exceptions, but it will be interesting if people are willing to start getting into bidding wars again so soon

http://forums.moneysavingexpert.com/showthread.html?t=1482231

zcacmxi

With the economy looking so dire, daily job losses and personal job security at an all time low, I for one am unlikely to be gazzumping anybody!

I guess if a property price is very very low, having been dropped in price significantly then vultures may fight over who gets the deal!

Cannon_Fodder

a pre-auction offer deemed to be "at an acceptable level", no formal acceptance, on a repo...

anyone could come in before the auction with a few quid more.

it could have gone to auction, anyway.

we don't know how low the offer was compared to past prices.


tenuous.

IveSeenTheLight

Cannon_Fodder wrote: »

a pre-auction offer deemed to be "at an acceptable level", no formal acceptance, on a repo...

anyone could come in before the auction with a few quid more.

it could have gone to auction, anyway.

we don't know how low the offer was compared to past prices.

tenuous.

All possible, but still interesting to hear of guzzumped properties regardless.
It could be a one off, but is still a sign that somone was wanting to get the property and prepared to pay more to get it.

Its not unpheasable that desired properties in england and Wales will always be subject to this potential regardless of the market

hethmar

I spose if the starting price is really low, its possible.

IveSeenTheLight

hethmar wrote: »

I spose if the starting price is really low, its possible.

I think its more dependant of how much desire there is for potential buyers for that specific house.

Two houses could be the same price, but one is more desireable than the other

chewmylegoff

a mere ancedote about a repo. hardly the "return of gazumping" any more than a new build flat going for 50% off peak means that all houses are now 50% below peak.

if it was on an average 3 bed semi in derby which had only been on the market for 48 hours, then obviously it would be rather more poignant.

ad44downey

The verb to Gazump was removed from the Oxford English dictionary some time ago. And replaced with the verb to Gazunder. I really can't see this change being reversed any time soon

IveSeenTheLight

chewmylegoff wrote: »

a mere ancedote about a repo. hardly the "return of gazumping" any more than a new build flat going for 50% off peak means that all houses are now 50% below peak.

if it was on an average 3 bed semi in derby which had only been on the market for 48 hours, then obviously it would be rather more poignant.

Fair point, however I in no way intimated that because of this one scenario it was happening everywhere, only that I was surprised to hear of a property being gazzumped in this climate

IveSeenTheLight

ad44downey wrote: »

The verb to Gazump was removed from the Oxford English dictionary some time ago. And replaced with the verb to Gazunder. I really can't see this change being reversed any time soon

Ha, I see your little funny
It's still in the dictionary and as per the post 1 link, apparently still happening

michaels

I can believe it, in this part of the world there is a real sellers strike, nothing coming on to the market at all in the area where I would be looking and what little there was that was even half sensible has been sold. Luckily I don't have to move, if I did I would have to pay a lot or go for one of the less desirable properties that have been around for ages.