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.

 

[BobnLesley]

...gazundering strikes me as being thoroughly dishonourable. Whatever happened to My Word is my Bond?

I had an attempted gazunderer when I sold a motorbike back in September: he'd seen/test ridden the bike and we'd agreed a price, but during the following week he'd 'had second thoughts' and when he came to collect it, was only prepared to pay £200 less than we'd agreed. Having, had two people tell me "I'd have bought it for that price if I'd known you were selling it" during that intervening week, I simply closed the garage door and handed him his £100 deposit back.
The chap then got arsey as apparently 'we had a deal' (he was now prepared to pay the originally agreed price again) and felt that I should either sell him the bike, or reimburse him for his wasted journey; I might've been concerned, but he wasn't very big and my neighbour Jason (who is VERY big) was on hand, having been roped in to help load said bike into the transit van.

 

[LittleSister]

I did what may be a semi-gazump with a motorbike (Honda Pan-European 1100, since you ask). I'd advertised it, and someone was supposed to be coming from some distance to view it the following weekend. In the interim I received a call from a local who offered me a significant notch up from my asking price and could view it that afternoon. I imagined he might well quibble on arrival, but considering a 'bird-in-the-hand' etc. and the potential higher price invited him round. An hour or so later he turned up, really liked the bike, handed over the higher price he'd offered in cash there and then, and rode it away. I called the chap who said he'd come at the weekend to cancel his trip.

But what Zoidberg actually asked was . . .

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

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

 

[Blueboatman]

I had one who tried a cash bung in order to bring a house price down below a specific limit. No thank you , it is as it is and I do not wish to carry away a legacy of doubtful dealing. It sold just fine @ stated price. “ You gotta ask” ses Mr buyer. “ Ah no, not really” ses I

 

[Bodach na mara]

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

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

I suppose that there has always been something like that when boats are sold. Generally the sale offer includes the words "sunject to survey) a the prospectov buyer attempts to renegotiate the price on the basis of the inevitable list of faults within the survey report. This is where a good broker earns their fee by reaching a mutually agreed compromise.

Despite the long period that has elapsed since I bought my first boat, I have never had a problem with either buying or selling. In a lot of cases the prices of the boats did not warrant surveying anyway. In other cases the faults listed in the surveys were ruled as not really materially relevant as the surveyor's summary referred to boats as being typical condition taking account of their age. In only one case did the survey report justify either withdrawal from the sale or drastically reducing the amount paid as remedial work was required costing a substantial percentage of the agreed price.

 

[SimonX]

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

I think he's a little potty