(of a buyer) lower the amount of an offer made on a property and accepted by (a seller) at the time of final negotiations.
- ‘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.’
- ‘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.’
- ‘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.’
Late 1980s: humorous blend of gazump and under.