One of the mysteries of the English language finally explained.
Lower the amount of an offer that one has made to (the seller of a property), typically just before the exchange of contracts.‘the couple have just been gazundered in one of London's most expensive areas’
- ‘Gazumping and gazundering sound contagious - do I really want to buy a flat?’
- ‘A new home buying process offered by estate agents has been launched that claims make the process quicker, and prevent gazumping or gazundering with comparable costs to the conventional system.’
- ‘They certainly won't do anything to stop gazundering.’
- ‘Unscrupulous buyers might also decide to play dirty and indulge in a bit of gazundering - they put in a lower offer just before the exchange of contracts.’
- ‘Whereas gazumping gave sellers the upper hand, allowing them to accept 11 th hour bids above the original offer, gazundering turns the tables on them.’
Late 1980s: humorous blend of gazump and under.
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