Should we Gazunder?

Mermaid89

Duckdodgers wrote: »

You and the cash buyer offered the same amount. The sellers probably would have gone with the cash buyer so you offered them £5000 to make yourself more attractive as a buyer. They go with you and turn down their cash buyer because they haven't offered the extra £5000 and then you remove the offer of £5000 which you promised them to get the deal. The cash buyer will have gone by now. Is that a fair enough summary? Basically a trick to get the house?

I would say so!

Davesnave

Red-Squirrel wrote: »

The bit above made me think they had an accepted offer and were then asked for more.

The post is vague and it could mean a number of things, including: "Your offer is acceptable to the vendor, but they need to hear from others who've also viewed before deciding."

In any event, there was another similar offer within 48 hours, so the OP decided to offer £5k more. There's no suggestion this sum was requested by the vendor, though it may have been.

Gwendo40

I think gazundering is perfectly acceptable in some situations, mainly depending on the type of vendor... if the vendors are owner occupiers selling a family home then it's not on without very good reason.

If, however, the vendor is a speculator looking to flip a property for a quick and easy profit having done little or nothing to justify an increase in it's value then I wouldn't hesitate to gazunder them for no reason at all other than to ''screw them over''

Smodlet

Gwendo40 wrote: »

I think gazundering is perfectly acceptable in some situations, mainly depending on the type of vendor... if the vendors are owner occupiers selling a family home then it's not on without very good reason.

If, however, the vendor is a speculator looking to flip a property for a quick and easy profit having done little or nothing to justify an increase in it's value then I wouldn't hesitate to gazunder them for no reason at all other than to ''screw them over''

Must admit, I had never thought of that last scenario. Thanks, Gwendo40.

fromtheshires

Well I think the advice here is pretty much the same through and through. Please do tell us how long it took from your drop of 5k to the house going back on the market if you try this.... I'm guessing within the day.

If my buyer did this to me, they would have two hours to reconsider before the EA had the house back in the market and no further offers to be entertained from the person who tried to pull my plonker.

If the survey shows something the justifies the reduction, fine as long as I can see the relevant parts you are using to justify the reduction, but to do it because you feel aggrieved at having to pay more, forget it!