gazumping


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Related to gazumping: Gazundering

gazumping

(ɡəˈzʌmpɪŋ)
n
(Banking & Finance) Brit the practice of raising the price of a house, even though one has agreed a price verbally with an intending buyer
References in periodicals archive ?
PLANS to make buying and selling a home "cheaper, faster and less stressful" by tackling gazumping and speeding up the process using technology are to be considered by the Communities Secretary.
Why gazumping could soon be a thing of the past THE stress of buying and selling homes could be eased.
MINISTERS are drawing up plans for financial penalties if home sales collapse to reduce the stress of buying and stamp out gazumping.
New research has revealed the region as the least likely place in England where you could fall victim to gazumping.
New research has crowned the region as the least likely place in England where you could fall victim to gazumping.
E Benson St Andrews, Fife #Reading the letter from John Brewin about gazumping (Nov 20), I was reminded of when I was gazumped in the 1980s.
Gazumping and sealed bids are becoming commonplace as relatively ordinary properties fetch a premium.
AFOR those who are too young to remember the last time it was an issue, gazumping is what happens when a seller - having already agreed a sale - subsequently accepts a higher offer from someone else.
BUYING a new home could prove a shrewd move as recovery in the property market heralds the return of gazumping and sealed bids.
DAVE says: Outbidding a rival buyer at the last minute, known as gazumping, is an awful situation that estate agents are powerless to stop.
Although backers of HIPs began to campaign a decade ago by promising to reduce gazumping, the reform now slotted into place is promoted as an aid to first-time buyers by helping them to avoid the costs of aborted purchases.