Heard of gazumping? It’s when a seller dumps an offer they’d previously accepted for a new and better one. This leaves the original buyer in the mire (and in a very bad mood).
But sellers aren’t the only ones who can make life complicated. Buyers sometimes have tricks up their sleeve too. And top of that list is gazumping’s sinister sibling, ‘gazundering’.
So, let’s look at what gazundering is, when it happens, why it happens, and if can you stop it happening to you.
What is gazundering?
It’s when a buyer suddenly lowers their offer before contracts are exchanged. This leaves you with a difficult choice: reject the offer or begrudgingly accept less money.
Is this practice legal? Yes. But it’s usually frowned upon. After all, it could leave you out of pocket. And you might not be able to afford the home you were hoping to move into.
When does it happen?
You can be gazundered at any time once you’ve accepted an offer. But it’s most awkward when it happens just before exchange. You’ll already have spent money on legal fees. And there’s no time to find another buyer.
How common is it? It happens more often when property prices are falling and it’s a buyer’s market. This is the opposite of gazumping, which tends to happen in a seller’s market when prices are on the rise.
According to Zoopla, who used research by Open Property Group done in 2024, a quarter of sellers were gazundered in the previous 12 months. And it happened to 32% of these in the two weeks before exchange.
Why does it happen?
In some cases, it’s pure opportunism by the buyer. They gamble that you’d rather take less money than find a new buyer and risk losing the home you were planning to move to.
But not all gazundering is a cunning plan. Sometimes a buyer is just reacting to events.
- Their survey might have spotted expensive problems that need fixing.
- Their lender might have valued the property lower than what they offered.
- The buyer’s mortgage might have changed due to rising rates.
- Property prices have fallen since the original offer was made.
The other reason, of course, is that the buyer has been gazundered too! So, they can’t afford what they offered before.
What can you do if you’re gazundered?
It’s a tricky one. You could stand firm, decline the lower offer, and hope the buyer’s bluffing. It’s possible the buyer won’t want to lose the purchase either. Especially if you’re close to exchange and they’ve spent money on conveyancing too.
However, 78% of the sellers surveyed simply took the lower offer. Why? Because many sellers don’t have time to find a new buyer. Especially if they’re moving to start a new job or they’ve already enrolled their kids in a new school.
Because of this, it’s best to avoid being gazundered in the first place. Although this is sometimes easier said than done.
Can you stop it happening to you?
It’s tough to predict if a buyer’s going to gazunder you deliberately. Coming across bad eggs often boils down to rotten luck.
But there are a few things you can do to lower your risk. For example, you could choose a cash buyer if you’re lucky enough to get multiple offers. Then there are fewer things that could affect your buyer’s finances.
First-time buyers and those living in rented can normally exchange and complete more quickly, too. So, they won’t be impacted so much by house prices going up and down.
What’s more, buyers without a home to sell can’t get messed around by their own buyers. This means there won’t be a knock-on effect on you.
It also pays to keep your chain moving. So, keep in regular contact with your solicitor and your estate agent so things don’t drift. Our partner GetAgent can help you find the best performing agents in your area.
Setting a target date to exchange helps too. It’ll keep everyone focused.
Honesty is the best policy
It also helps, of course, if you’re upfront about things yourself. So, don’t hide problems with your home that could crop up in a survey later.
Building a good relationship with your buyer can also be a good idea. And don’t be shy of saying you’ll take a firm line on gazundering!
Finally, you could get your solicitor to draw up an exclusivity agreement between you and the buyer. This will make their verbal offer binding. So, they can’t move the goalposts deep into injury time.
Be prepared
Fortunately, around 75% of buyers stick to their word. So, it’s far more likely you’ll have a good experience with your buyer than a bad one.
But it doesn’t hurt to be prepared. Work out exactly how much money you need from your sale in advance. Then, if you do get gazundered, you’ll know whether you can afford to take the lower offer straight away.
Another thing you could do – although it won’t work for everyone - is avoid selling and buying at the same time. In other words, decide to sell your home and move into rented.
Doing this can help you take a hard line with gazunderers. After all, you won’t need to accept a lower offer and can happily wait for another buyer.
You’ll also benefit from being a cash-buyer when you do eventually decide to buy. You’ll be more attractive to sellers. And you’ll lower your chances of being gazumped, too.
Ah. Gazumping. Now that’s a can of worms for another day.
This content was accurate when published on 24/02/26.
Thinking of selling your home? Check out our handy selling guide in My Home Manager. It takes you through everything from presenting your property to finding the right estate agent. You’ll find packing tips and can arrange a free removals quote with our partner AnyVan too.