gazundering

n.
As a house buyer, reducing a previously agreed-on price for a house just prior to signing the contract.
gazunder v.
gazunderer n.
Example Citations:
Remember, if you complete your transaction on bad terms, or twist the vendors' arms with a bit of last-minute gazundering, you may find yourself moving into a house in which everything has been stripped out.
—Christopher Middleton, " Confessions of an estate agent: http://www.telegraph.co.uk/property/propertyadvice/8611016/Confessions-of-an-estate-agent.html," The Telegraph, July 2, 2011
Estate agents are reporting a return of gazundering as falling house prices give buyers the upper hand.
Up to 25 per cent of purchasers are attempting to renegotiate the price downwards at the last minute.
—Eleanor Harding, " Gazundering is back as falling house prices give buyers the upper hand: http://www.dailymail.co.uk/news/article-1319381/Gazundering-falling-house-prices-buyers-upper-hand.html," The Daily Mail, October 11, 2010
Earliest Citation:
"The deposit allows both sides to show their good intentions," says Caroline Lonsdale, Secretary to the Standing Committee. "It works both ways and will help reduce gazumping and gazundering (whereby the purchaser puts pressure on the vendor to accept a lower price)."
—" Investors Chronicle, Volume 79: http://books.google.com/books?id=O-odAQAAMAAJ&q=gazundering," Financial Times Business Publications, April 1, 1987 (approx)
Notes:
Gazundering is in the Oxford English Dictionary, although with an earliest citation date of November 18, 1988, so this is an antedating. If you're scratching your head over gazumping, it refers to a house seller either raising a previously agreed-on price for a house just prior to signing the contract, or reneging on an offer in order to accept a higher price from another buyer. This sense of the word dates to 1971, but the more general sense of the verb gazump — to swindle — goes back to 1928.
Yet another gaz- neologism, this one fresh from the lexical mint, is gazanging, and it refers to the seller of a house backing out of the deal at the last minute:
After gazumping and gazundering, the property market has identified a new danger for would-be homeowners: gazanging. Volatile house prices and a lack of available property is driving the phenomenon of sellers pulling out at the last minute.
—Mark King, "Gazanging — the new menace facing potential homebuyers," The Guardian, September 19, 2011
Related Words: Category:
Presumably whoever coined this was unfamiliar with the older (Victorian?) gazunder, or chamber pot (so called because it goes under the bed).

New words. 2013.

Look at other dictionaries:

  • Gazundering — is the practice of demanding a reduction in price to secure the sale of a property. This is usually done during contract negotiation. The timing of this demand is usually intended to prevent the seller from rejecting the lower price, as the sale… …   Wikipedia

  • gazundering — gazunder ga‧zunder [gəˈzʌndə ǁ ər] verb [transitive] informal PROPERTY if you are gazundered, someone who has agreed to buy your house says that they will only buy it for less than the amount originally agreed gazundering noun [uncountable] …   Financial and business terms

  • gazundering — …   Useful english dictionary

  • Gazumping — The verb gazump means to refuse to formalise a property sale agreement at the last minute in order to accept a higher offer. Usage in modern society With buoyant property prices in the British residential property market of the late 1980s and… …   Wikipedia

  • Conveyancing — For other uses, see Conveyance (disambiguation). Property law …   Wikipedia

  • Housing market crisis in the United Kingdom (2008) — The housing crisis The housing crisis has caused the British Government to launch two reviews of the housing market, due to dramatic market failure (only 134,000 new builds for more than 230,000 household formations per year, and rising), the… …   Wikipedia

  • Home Information Pack — Under the provisions of the Housing Act 2004 a Home Information Pack (HIP), sometimes called a Seller s Pack, will have to be provided before a property in England and Wales can be put on the open market for sale with vacant possession. The pack… …   Wikipedia

  • Gazunder — The word gazunder may refer to: *A chamber pot, so called because it goes under the bed; [cite news title=Going potty! work=The Bolton Evening News date=August 16, 2000 url=http://archive.lancashireeveningtelegraph.co.uk/2000/8/16/718335.html… …   Wikipedia

  • gazunder — ga‧zunder [gəˈzʌndə ǁ ər] verb [transitive] informal PROPERTY if you are gazundered, someone who has agreed to buy your house says that they will only buy it for less than the amount originally agreed gazundering noun [uncountable] * * * gazunder …   Financial and business terms

  • Housing and Architecture — advertecture appraisal mill architectural myopia architourist BANANA barkitecture big hair house …   New words

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