Friday, May 16, 2008
Gaaazuuunder!
Bloomberg: `Gazunderers' Thrive as Deals Fail in U.K. Home Slump
``I've just gazundered a 70-year-old lady who is undergoing a hip replacement,'' said Blavier, 39. ``You can't get a scenario to make you feel more guilty. But this is not my hobby. It's what helps me make a living.''
Posted by confused76 @ 11:33 PM (495 views) Add Comment
3 Comments
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1. confused76 said...
House sales lowest since the 1970s
http://www.thisismoney.co.uk/mortgages/article.html?in_article_id=441487&in_page_id=8&position=moretopstories
Estate agents are selling fewer homes than at any time since records began in 1978. One told a survey he had 'no credit, no confidence, no customers'.
Property falls trigger 'gazundering'
http://www.thisismoney.co.uk/mortgages/article.html?in_article_id=441739&in_page_id=8&position=moretopstories
An epidemic of 'gazundering' is sweeping through London and now blights up to one in five property sales, estate agents said today.
The practice, which involves buyers slashing their offers at the last minute before exchange of contracts, is perfectly legal but widely seen as unethical and is bringing misery to thousands of anxious sellers.
Charles Puxley, associate director of Jackson-Stops in Chelsea, said: 'London is not like the country. If you fall for that perfect rectory then you are unlikely to want to jeopardise that. But in London if you are after a three-bedroom mansion flat and the deal falls through you know that, like London buses, there'll be another one along soon.
'We had a double gazunder the other day in Westminster. The price was agreed at £2.5m then it came down to £2.2m, which my client agreed to reluctantly, then the buyer dropped the price to £2.1m at which point my client withdrew.'
£2.5m... £2.2m... 15% less.... and he client said yes... mwauhahhah
2. handle_it said...
I think the "seller" will look back in a years time and think they were lucky to have sold at all. The "buyer" will think why didn't I wait... Anyone who's getting all smug about pulling someones pants down at this stage of the game is deluded.
3. Rental John said...
Just shows you what a dog-eat-dog world the house selling business is......when it comes to making a fast buck there is nothing people won't stoop too.
'Selling houses is all about fear' - Matt in Sold the ITV comedy series.