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All about ‘Gazundering’


All about ‘Gazundering’

Move over Gazumping – we’re here to tell you all about Gazundering. Yes, it’s another new term for house sellers to be aware of. So, what is it? How can you avoid it, and how does it differ from Gazumping? Read on to find out more about gazundering…

What is Gazundering?  

Put simply, gazundering occurs when a buyer reduces their offer at the last minute of a property sale. We’re seeing and hearing more of it occurring in this region at the moment. It’s usually done to save some cash and can be a ploy used by buyers looking to chance their luck. In more genuine circumstances though, a buyer might be in a chain and have had the offer on their property reduced. Or it could be that a buyer has found out information about your property which will reduce its value.

Whatever the reason, gazundering usually happens right before the exchange of contracts stage. And in a worst case scenario, it can leave sellers in an horrific situation. As you can imagine, you might not only lose your buyer by declining all or any of the reduced offers. But if you are in a chain, then this can collapse too, and the selling process might have to start all over again.

Gazundering – should you accept the offer?

We would say no to any immediate accepting of offers. Sellers might feel forced to accept an offer in fear of losing the sale or a chain falling part. But staying calm is key and liaising with your estate agent (if you have one) is imperative. A good estate agent will know how to handle gazundering. And a better one still will have made sure your property is less likely to fall foul to such tactics in the first place.

Towards the end of this article, you can read the steps we take when dealing with property sales, to try and ensure gazundering doesn’t occur.

Not to be confused with Gazumping

With gazumping, it’s the home seller who plays the more unethical role, rather than the buyer. But much like gazundering, there is nothing illegal about gazumping. As we’re all very aware, gazumping happens when a seller accepts a better offer on their property after they have verbally agreed the sale with an initial buyer. Again, we normally see this happen around the time contracts are to be exchanged in the sale. You will often see gazumping occur when there’s high demand for a property. But like gazundering, it can be avoided and if it does rear its head, it’s best dealt with by an experienced property agent.

The figures around Gazundering in the housing market

In a recent survey by the Open Property Group, it was revealed that gazundering is becoming more prevalent in the housing market. In its survey of home sellers who have sold properties in the last 12 months, a quarter of them had been victims of gazundering. And a third fell foul to gazundering within two weeks of the exchange of contracts.

And of those who were ‘gazundered’ – 78% decided to accept the lower offer. When asked why they had taken this decision, the survey respondents cited several reasons. 35% didn’t want to waste more time finding a buyer, 22% didn’t want to jeopardise their onward purchase and 14% didn’t want to start from scratch with the whole selling process.

What’s causing the increase in gazundering?

You are more likely to see gazundering occur when the market is cooling down. And this is what’s been happening across the country in recent months. So, when prices are falling, and sales are taking longer to go through. Everyone’s feeling the pinch too, which can lead to an increase in buyers looking to try their luck and wipe a few thousand pounds from a house purchase.

We are starting to see more of it here in Altrincham, even though prices and the market still remain competitive in this region. But we are always poised, ready to handle all or any issues around negotiations if you sell your home with us.

It’s very difficult to pick and choose, but to avoid gazundering, then it’s recommended to find a chain-free or first-time buyer. These parties are less likely to be affected by additional costs or affordability issues.

How we handle the risk of gazundering here at Jameson and Partners

–           First and foremost, we provide a realistic property valuation. There is absolutely no point in over-inflating a property’s value as it only leads to a wealth of problems. Our property valuations include due diligence on property sales in the local area. By giving you a realistic sales price, we can avoid issues like gazundering further down the line.

–           We also like to move fast and get your property sold in the quickest time. That way we can avoid a property waiting to be sold for too long a period, in which time prices may fall. But if that was to happen, we always discuss with our sellers whether a price reduction will be necessary. By keeping the advertised price realistic, buyers are less likely to resort to gazumping. Plus, we can prove the property has been reduced in price since its original listing.

–           Our communication with all parties is thorough and frequent, with honesty and openness front and centre. This makes sure the property sale moves along at the quickest pace it can. Plus, by highlighting any issues with the property from the start, we can remove the need for last minute offers.

–           We take deposits from any potential buyers, which goes a long way towards preventing issues such as gazundering.

–           We’ve many years of experience and know the local property very well. We are well-versed in dealing with buyers for all manner of property sales and can easily spot a genuine negotiator from someone looking to push their luck. By delivering a professional all-round service, we can get your property sale over the line with the least amount of bother and hassle for you.


Worried about gazundering but want to sell your home? Don’t take the chance on a quick-sale site or an online property sales service. Get a local, reputable, independent estate agent in your corner. 

Contact us for a realistic property valuation before selling your home quickly and at the best price possible. Give us a call on 0161 941 4445 or send us a message here.