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House Prices Falling So Fast Gazundering No Longer Unethical


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Guest Steve Cook
I wonder if a gazundering at a lower link could get passed on all the way up the chain?

When I sold my house in December 07, the party at the bottom of the chain came in at the last minute with a 2k reduced offer. I informed the various parties down the chain to pass this loss all the way up to me since I was at the top of the chain.

The party at the bottom may have been playing silly buggers. They may, alternatively, have been forced into it by a last minute reduction by their mortgage company (this is the reason they gave). It's irrelevant really. I had to make a decision as to whether I was going to stand the loss in order to keep the sale alive. I made the decision that I was.

No hard feelings. Indeed, no feelings at all.

Just business...that's all

Edited by Steve Cook
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How about wording to the effect "if accepted this offer is subject to a satisfactory survey and will remain valid for one calendar month by which time exchange of contracts is expected to have taken place. If exhange has not been achieved by this time the offer will be adjusted downwards by the rate of the monthly national HaliWide (state preference) house price index." Alternatively just state a percentage per month. Hopefully this approach would serve to motivate vendors...

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