Sunday, Sep 14, 2008
Yes, but leave it a year at least !!
firsthomebuyer.co.uk: Is gazundering ethical?
"Don't shoot till you see the whites of their eyes"
Posted by doomwatch @ 06:43 PM (240 views) Add Comment
6 Comments
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1. montesquieu said...
Interesting to see these neophytes positioning themselves as experts.
Offer the asking price and then ask for 5 (five?) to 20% reduction on completion.
Terrible tactics. Negotiate 20% - 30% straight off and then twist the knife 10% at the end. Much more fficient.
2. Urbanbear said...
Yes it is ethical, it is karma, for the sellers and estate agents, for ripping buyers off.
3. brian t said...
Gazundering is about as ethical as Gazumping was. Not very, I happen to think - an agreement is an agreement, regardless of what's on signed papers. Then again, I have never been in a position where I would consider it, and it's something I intend to avoid.
4. Indenial said...
if buyers don't gazunder
Property prices won't fall !
(as many have noticed lot of sellers are still advertising at september 2007 prices (!) as if their house is immune to price crashes!)
5. peter_2008 said...
EAs get pxssed off of gazundering not because ethical issues. It's simply because they commission reduces.
That's why gazumpering was never a problem. EAs get more money when sellers gazumper.
I am sure if EAs’ commission is a flat rate, they won’t give a shxt to sellers neither.
6. Kruador said...
@Indenial: 'gazundering' is strictly changing your offer at the last minute. What buyers should do is factor market falls into their offers, that is, offer what they think the property will be worth on the day of completion.
I'd be in there offering only what I think the property is worth long-term - about half the asking price or less - if I didn't think that would be wasting everyone's time, in that the seller will never accept that little in the short term.