Gazundered

Nicki

OK - I'll fess up! We wavered because we wanted to stick to the original time frame and the bridging was going to cost an arm and a leg. We went back and said OK we'd accept provided they stuck to the original time frame, and the property would continue to be marketed until they exchanged because we'd lost faith.

They then messed us around and refused to stick to the timetable or to commit to anything at all. Also got very nasty, and refused to give any reasons or any indication at all as to when they could exchange and complete. I got very stressed and upset.

Then over the weekend lovely cash buyer in a hurry came round and offered us the full asking with completion within 28 days. Followed by on Monday lovely cash buyer number 2 who offered over the asking price with completion within 21 days. We've spoken to no 2's solicitor who confirms his client is a cash buyer with nothing to sell and that subject to our solicitor getting all the paperwork to him asap, that she can do it within the time frame.

So Estate Agent phoned the gazunderers today and told them the news. They were livid and are threatening to sue us! Bring it on!!

After a very very stressful week, we are feeling a lot happier. Due to Bank Holiday, we are only 1 working day later than we would otherwise be, and our seller who is a lovely reasonable man, is happy to wait for us.

Nenen

:j :j :j
I'm really pleased for you Nicki.... fingers crossed everything goes smoothly from now on. I can understand why you did your best to stick with the original buyers (despite their shoddy behaviour) as I think it's easy for us to say 'walk away' etc but when you're in the situation it is just soooooo hard to know which way to jump.

I'm really pleased to hear your original buyers are :mad: ... serves them right! Hopefully that will teach them not to play that nasty trick on anyone else.
Good luck :beer:

Doozergirl

:dance: What goes around comes around!

The fact that you were forced into accepting that reduced offer is the very reason you have two new offers on the table. I'm really pleased for you.

You probably already know but the !!!!!!!s can't sue you for jack. Nothing is legally binding before exchange.

Which they must know too if they felt they could gazunder you. You won't be hearing any more from them.

HAHAHA!

Nicki

Thanks. In ordinary circumstances I would never ever consider gazumping anyone as I think it is shoddy behaviour, but these weren't ordinary circumstances, and they were warned from the outset that they were playing a high risk game.

That being said, given how personally nasty they were about this (if it had just been business it would have been different, but she actually told the Estate Agent she was going to mess us around on timing "just because we can"), I wouldn't be human if a small part of me wasn't a little bit pleased she is now feeling as bad as we did.

I'll try and get the better side of my nature along by tomorrow though!

Thanks for all the support though. It was much appreciated.

mr.broderick

Nicki wrote: »

Thanks. In ordinary circumstances I would never ever consider gazumping anyone as I think it is shoddy behaviour, but these weren't ordinary circumstances, and they were warned from the outset that they were playing a high risk game.

That being said, given how personally nasty they were about this (if it had just been business it would have been different, but she actually told the Estate Agent she was going to mess us around on timing "just because we can"), I wouldn't be human if a small part of me wasn't a little bit pleased she is now feeling as bad as we did.

I'll try and get the better side of my nature along by tomorrow though!

Thanks for all the support though. It was much appreciated.

I guess the gazundering merchants will come more to fruition as the market slows. Just like vendors gazump buyers when the market is strong .
Its just business nothing personal..

lucycat1

we have just been gazundered the same way she put in a very low offer it was refused so she put in another offer nearer the asking price which we accepted.we were asked if we would take the house off the market she then she dragged her feet for 10 weeks asking questions that they already had the answers for.
she had the mortgage survey done which was fine then got another rics one done that still said the house was worth the money but there were a few niggles on the survey like the wardrobe was dated,which wasnt even being left .
she then phoned on the morning of exchange asking if we would throw in the fridge/freezer and the cooker which we agreed to and an hour later as we were about to sign the contracts she said she wanted a £15,000 reduction for decorating to be done this was on a £223,000 house.
she knew our circumstances that we were buying a new build as we are disabled and also have an autistic son .
we have now taken the house off the market as it was too stressful and my husband has had cancer 3 times in the past and stress can play a factor in its reacurrance.
she had planned this all along and i think that it should be illegal for this practice to happen,the only consulation is hopefully she has lost more money on this then we have but we have found out this is the third time she has done this

nell53

Hi Lucicat,

What a terrible thing to happen- I really feel for you, and hope that karma gets her in the end.

satchmeister

lucycat1 wrote: »

we have just been gazundered the same way she put in a very low offer it was refused so she put in another offer nearer the asking price which we accepted.we were asked if we would take the house off the market she then she dragged her feet for 10 weeks asking questions that they already had the answers for.
she had the mortgage survey done which was fine then got another rics one done that still said the house was worth the money but there were a few niggles on the survey like the wardrobe was dated,which wasnt even being left .
she then phoned on the morning of exchange asking if we would throw in the fridge/freezer and the cooker which we agreed to and an hour later as we were about to sign the contracts she said she wanted a £15,000 reduction for decorating to be done this was on a £223,000 house.
she knew our circumstances that we were buying a new build as we are disabled and also have an autistic son .
we have now taken the house off the market as it was too stressful and my husband has had cancer 3 times in the past and stress can play a factor in its reacurrance.
she had planned this all along and i think that it should be illegal for this practice to happen,the only consulation is hopefully she has lost more money on this then we have but we have found out this is the third time she has done this

Sadly she has done nothing wrong legally, morally - different story. This is the UK system nothing is certain until exchange, the previous Scottish PM could have changed to the Scottish system but in over 10 years chose not to.

DVardysShadow

lucycat1 wrote: »

but we have found out this is the third time she has done this

How did you find this out? It could be useful.

ps, best to start a new thread.

Henry_P_Chester

Gazundering is just the gazumping of a falling market. Neither are morally acceptable IMO but both are part of the way the Market in England works unfortunately.