Gazundering
When a buyer reduces their offer just before exchange — legal, because nothing is binding until exchange, and the seller has 3 options: accept, refuse, or negotiate a smaller cut.
Gazundering is the opposite of gazumping: a buyer lowers their agreed offer, usually shortly before exchange when the seller is most committed. The seller's options are to accept the lower price, refuse and potentially lose the sale, or negotiate a smaller reduction. Like gazumping, it's legal in England, Wales, and Northern Ireland because nothing is binding until exchange.
Related terms
- Gazumping →
- Exchange of Contracts →
- Property Chain Explained — full guide →
This glossary entry is a brief definition. For the full practical walkthrough, see the guide above.
- Full Glossary →
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