But the move would also stop a buyer gazundering
, by later lowering their offer on an agreed sale price.
Financial penalties for sellers who opt for a better offer, or buyers who ruthlessly drop their price at the last minute, will reduce gazumping and gazundering
as these practices are known.
Any hiccough after the acceptance of an offer can lead to the prospective purchaser gazundering
[to use a technical term
The dreaded gazumping or gazundering
is totally avoided, thus guaranteeing peace of mind for both buyers and sellers.
A For those who don't know, gazundering
is the opposite of gazumping.
Sam Williams, associate sales director for Taylor Wimpey North West, said: "After gazumping and gazundering
, house hunters now have a new issue to deal with, the risk of being gazanged.
No property chain You are free of the nightmarish property chain and all that gazumping and gazundering
I've heard people talking about gazundering
- what is this and could I be vulnerable?
You can view the Society's guidelines and find more info on gazundering
and gazumping by logging on to lawscot.
The longer it takes to reach exchange of contracts, the higher the chances of the deal collapsing or gazundering
-the buyer dropping their price -so keep in weekly contact with your solicitor and agent.
And widespread gazumping and gazundering
would thankfully become a thing of the past.
There is certainty, speed and transparency which both sellers and buyers seem to like because there's no re-negotiation, no fallthroughs and no gazumping or gazundering