gazundering

Annie1960

If you change your mind and do try this, please make sure you have a back-up plan to continue living in rented accommodation. If anyone tried doing this to me I would decline, and hope that you became homeless. I do not do business with people I don't trust, and this is a cynical breach of trust.

If I was desperate to move and could not afford to turn down a gazundered offer, I would do as others have suggested above, remove everything I possibly could to ensure that you would need to spend more on the house than you had realised.

Nobody wins from this.

This is a strategy that gets developers a bad name as I understand they often try this.

Annie1960

verulamium wrote: »

I would never ever think of doing it, unless a survey brings up a fault, and only then I would renegotiate the price well before exchange.

This is not really gazumping, this is legitimate as offers are made 'subject to contract'. I think most people accept that re-negotiating the price is reasonable if the survey comes up with something expensive that was unexpected.

I agree with your main point.

w00519772

i agree with most of the points. I value honesty and integrity. I came across the term today. I have been messed around in the past. I just wandered if it happens both ways. What goes around comes around and all that. Just to reiterate: i am not planning to do this.

clockworks_2

what a horrible nasty thing to do.

lee111s

Karma will find its way to those who part take in such practices!

ethank

I think it is disgraceful behaviour. If everyone treated everybody else in the manner they wished to be treated then the world would be a better place.

HAMISH_MCTAVISH

There are some lovely accounts out there of people who have pulled off some rather creative and very expensive revenge actions on a gazunderer....

Everything from removing all the light switches, lamps, white goods, etc, to 100 tiny nail holes in water pipes throughout the premises, to cutting all the electric wires in random places, to leaving dead fish/shrimp in the walls, air ducts, attic, etc, to calling in a few anonymous reports of drug dealing and watching the house get raided.

Gazundering (and gazumping for that matter) is a despicable activity, and anyone that engages in it deserves all the house-purchase-hell an angry vendor can create.

bmunky7

Not quite gazundering as it didn't happen at very last minute, but we had a guy first push us to drop price by £10k, then another £5k, then finally he wanted a clause in the contract reducing the price he paid by any drop in the market before exchange. We told him to get lost and he missed out on an already heavily discounted house. That was in 2008 and handily we kept property and it's now up about 25% from what he could have had it for.

Glyndwr2000

This happened to us twice and we have only moved three times !

Firstly, the day before exchange (and just as I was about to go into the channel tunnel), I received a call from my (allegedly my) agent telling me that the buyer wanted £5k off the price as he cant afford it. I managed to keep calm and didnt swear but told the agent that, by the time I get to france, I expect the buyer to buy at the agreed price or get another buyer.

It was a long and frantic 45 minutes but when I regained phone signal there was a message saying the buyer had magically found the extra money, we exchanged that day and moved the following week. I did remove a lot of things from the house including the shed, light fittings (I did replace them with cheaper ones) and was very tempted to take the decking (but lazyness overcame me).

The second one I also told to do one. I pulled out and sold to a far nicer recently divorced lady with kids at the same price for cash. We exchanged and moved within 8 weeks.

I agree that anyone who does this is the lowest of the low and karma does have this way of getting back at people.

Glyndwr2000

Just read that article referenced above. Thats the most downright despicable advice I have read in a long while.