Let's talk undergazumping

[ForTheLoveOfCakes]

It's happened to me. At the time I hadn't heard of this before. But since then (earlier this year) I've read lots about it on MN and other places online.

Has this always been a thing? Or have times changed and it's not, somehow acceptable??

Gazundering? I’d not heard of it before reading this board either. Seems like it’s always been a possibility but is becoming more prevalent in areas where the housing market is currently uncertain.

I think it’s been rare for a while because the housing market was buoyant, and gazumping was therefore more prevalent. As the market has slowed in many places, gazundering has inevitably returned.

I think that England needs to follow Scotland's lead and prevent this from happening.

I’d never heard of it until I moved to England.

As luggage says, the term is gazundering.

It's always been a thing, however it's pretty rare, as is gazumping.

@rainingcatsanddog

As I understand it, gazumping/gazundering is not prevented in Scotland, nor is it illegal, it is just less likely to happen.

scottishpropertycomment.co.uk/gazumping-in-scotland-why-it-doesnt-tend-to-happen/

@rainingcatsanddog yes! It was devastating when it happened to me.

My buyer kept delaying exchange. Then backed out. A few days late, came back and said they'd still buy it. At a reduced price. It left us in a horrible position.

We are now in rented accommodation and trying to buy a house.

Now it seems our estate agent is suggesting we undergazump 😳

Now it seems our estate agent is suggesting we undergazump gazunder

Can you explain exactly what you mean by your estate agent? If you have sold and are in rented, I am assuming you mean the estate agent acting for the vendor of the property you wish to buy, who is therefore not your estate agent.