{"id":2992,"date":"2024-03-15T08:36:37","date_gmt":"2024-03-15T07:36:37","guid":{"rendered":"https:\/\/pfadvisors.co.uk\/?p=2992"},"modified":"2025-04-07T13:35:50","modified_gmt":"2025-04-07T11:35:50","slug":"sellers-gazundered-in-a-buyers-market","status":"publish","type":"post","link":"https:\/\/pfadvisors.co.uk\/en\/sellers-gazundered-in-a-buyers-market\/","title":{"rendered":"Sellers gazundered in a buyer\u2019s market"},"content":{"rendered":"<p><strong>Gazundering<\/strong><\/p>\n<p>Last year, there was a 97% increase [1] in people searching for the word \u2018gazundering\u2019 \u2013 when a homebuyer reduces their offer on a property at the last minute, sometimes just before completion. This leaves the seller in a difficult position, often without much choice but to accept a lower price. Gazundering is indicative of a buyer\u2019s market where there are more properties on sale than people wanting to buy.<\/p>\n<p><strong>Gazumping<\/strong><\/p>\n<p>In periods where the tables are turned and the market favours the seller, gazumping may occur more \u2013 this is when a seller receives a higher offer from someone else, even though the transaction process has started with a different buyer.<\/p>\n<p><strong>Stricter rules in Scotland<\/strong><\/p>\n<p>Interestingly, both gazundering and gazumping are not as commonplace in Scotland \u2013 while it does still happen, Law Society of Scotland has rules in place to prevent gazundering and gazumping. Solicitors acting on behalf of property buyers are not permitted to lower their initial offer, while those representing property sellers cannot accept an offer from another buyer.<\/p>\n<p>[1] GetAgent.co.uk, 2023<\/p>\n<p>\ud83d\udea8 Data accurate as of the date of publication \u2013 15.03.2024<\/p>\n<p>\ud83d\udea8Think carefully before securing debts against your home.\u00a0 Your home may be repossessed if you do not keep up repayments on your mortgage.<\/p>\n<p>\ud83d\udea8 The above material is for informational purposes only and does not constitute a sales offer or financial advice. Before taking out any insurance, credit agreement or other financial product, you should obtain individual advice on your requirements and the general terms of the contract.<\/p>\n<p>&nbsp;<\/p>\n<p>Source: Quilter Financial Planning \u2013 Essentially Mortgages Q1 2024<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Gazundering Last year, there was a 97% increase [1] in people searching for the word \u2018gazundering\u2019 \u2013 when a homebuyer reduces their offer on a property at the last minute, sometimes just before completion. This leaves the seller in a difficult position, often without much choice but to accept a lower price. Gazundering is indicative [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":2971,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[28],"tags":[],"class_list":["post-2992","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archive"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Sellers gazundered in a buyer\u2019s market - Prestige Financial Advisers<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pfadvisors.co.uk\/en\/sellers-gazundered-in-a-buyers-market\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sellers gazundered in a buyer\u2019s market - Prestige Financial Advisers\" \/>\n<meta property=\"og:description\" content=\"Gazundering Last year, there was a 97% increase [1] in people searching for the word \u2018gazundering\u2019 \u2013 when a homebuyer reduces their offer on a property at the last minute, sometimes just before completion. 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