Tuesday, May 6, 2008
Its not bad practice, its just protecting yourself
Gazundering 'will rise as house prices slip'
Donna Werbner, a property expert at Fool.co.uk, commented: "Falling house prices create a terrible moral dilemma for buyers. If they don't gazunder, they could potentially find their property has fallen in value before they have even bought it.
Posted by herrbbiiee @ 08:16 PM (836 views)
6 thoughts on “Its not bad practice, its just protecting yourself”
Add a comment
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user´s views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
paul says:
I’m sure there will be journalists or even “economists” who will decry the ‘deplorable nature of gazundering’ when it happens to them in coming months.
Expect to see property section editors having hissy fits, demanding that the government take action.
drewster says:
Paul, that’s quite right. Unlike the mainstream press, the folks at Fool.co.uk don’t rely on massive property supplements to fund their journalism. Having said that, both gazumping and gazundering are rather unfair on all players – why can’t we just adopt the Scottish system?
uncle chris says:
I cannot see what the problem is – if after making your offer, you see that property prices have fallen, then I think it is fair game to try and re-negotiate a fair price. Vendors are under no obligation to continue with the sale. As has been said on here previously, vendors were more than happy with the practice of gazumping, but squeal like a stuck pig when the boots on the other foot. (Too many proverbs?)
Deadspider says:
“Donna Werbner, a property expert at Fool.co.uk, commented:”
Google her .
There are 24 hits .
She is unheard of before 11/04/08 .
PROPERTY EXPERT ????????????????
eyeoftheweasel says:
Unlike gazumping where the seller indulging in this practice has absolutely nothing to lose, a gazunderer would have presumably already forked out for surveys, etc. As a result, I think it would be unusual for a buyer to reduce their offer just before contracts were exchanged without good reason.
renting2 says:
Whilst the market was rising I remember reading that gazumping was just correcting the error of a property sold for too little, so gazundering ………………………..