Gazundering

[zoidberg]

I've noted resurgence of this practice in the 'house-buying' market.

Any evidence of it in the current boat-buying world?

 

[Misterbreeze]

Do you mean gazumping? A gazunder was something quite different when I were a lad.

 

[KevinV]

Do you mean gazumping? A gazunder was something quite different when I were a lad.

It's been misapropriated for lowering your bid after it's been accepted.

I call my car creeper board the same because it gazunder the car (as the pot went under the bed)

 

[Misterbreeze]

Every day a school day! Being a paid up boomer and not having bought a house for 40 years I'm pleased to say that neither has featured in my life......so far

 

[Stemar]

ISTM that gazumping is bad enough, but gazundering strikes me as being thoroughly dishonourable. Whatever happened to My Word is my Bond?

 

[Baggywrinkle]

I've seen it done as far back as 2004, fortunately, not on any of my house sales. I believe it is mitigated in Scotland by the contract being binding as soon as the offer is accepted, so it's mainly a "south of the border" problem IMO.

 

[doris]

ISTM that gazumping is bad enough, but gazundering strikes me as being thoroughly dishonourable. Whatever happened to My Word is my Bond?

That only applies to the London Stock Exchange which was/is populated by the biggest collection of spivs and charlatans imaginable. Arthur Daly in posh suits one and all.
Don’t ask me how I know.

 

[johnalison]

Do you mean gazumping? A gazunder was something quite different when I were a lad.

There was a yacht called Gazump of Greenwich in those days. Gazumping was of course house sellers raising prices during a period in high inflation, while gazundering is an obvious if inelegant derivative referring to buyers reducing their offers during a period of low sales.

 

[stranded]

There was a yacht called Gazump of Greenwich in those days. Gazumping was of course house sellers raising prices during a period in high inflation, while gazundering is an obvious if inelegant derivative referring to buyers reducing their offers during a period of low sales.

I thought gazumping was sellers accepting a higher offer after having already accepted an offer from someone else.

 

[Baggywrinkle]

It is all possible because a sale agreement is only binding when contracts are exchanged, so of course you get AR$€HOL€$ who will renege on their agreement, buyers and sellers alike.