We've been Gazundered!

Walter_J

sonastin wrote: »

It depends on when you revised your offer. If you let everything else proceed as normal and gave the vendors no clue until their solicitor said "right are we ready to exchange". Then you reply "yes but only if you drop the price by £20k" - I think that would still count as gazundering.

If you tell them straight away and don't string it out any longer than necessary it isn't gazundering, its negotiating. Obviously if the mortgage offer was the last thing you were waiting for and that comes in on the day of exchange...

And a mortgage valuation £20k under the agreed price doesn't necessarily mean that you can't buy the house - its down to what deposit you are putting down. I applied for a mortgage with an LTV of 65%. Mortgage was available at 70% LTV. Valuation came in £10k lower making LTV 68% so I could still borrow the funds.

So you can gazunder and still claim the moral high ground...

sonastin

Walter_J wrote: »

So you can gazunder and still claim the moral high ground...

a vendor in that situation should have been hearing warning bells already... ready to exchange but still no mortgage offer???? :eek:

telfordwhite

chedburgh wrote: »

Maybe their parents died and they needed the extra money for the funeral? Ranting on an internet forum does not make you qualified to tell the rest of the world what is right or wrong, it just shows you as opinionated and narrow minded.

:rotfl::rotfl::rotfl::rotfl:




Why would someone of good moral character keep calling for retribution? Surely they would not stoop so low...

Maybe they are just a bit upset and angry and are letting off steam.

Is this an opinion you're offering? Does this make you narrow minded?

chedburgh

telfordwhite wrote: »

Is this an opinion you're offering? Does this make you narrow minded?

Is that your opinion on what i am saying? :rotfl:

Come on, you can spot spectulation or the offering of alternate ideas, its not difficult.

MSE_Jenny

Hi guys

A journalist from the Times has is writing an article on gazundering, and is looking to speak to someone who this has happened to.

If this is something you would be interested in, please private message me with your name and telephone number, and I will pass it on.

Thanks
MSE Jenny