Definition of 'Gazunder'
A colloquial term used in the United Kingdom for the practice of a buyer lowering his real estate purchase offer below his previous offer when the transaction is already well under way. A gazunder typically happens when the market is weak and/or when the seller is coming from a position of weakness. "Gazundering" is not illegal, but many people consider it unethical. The seller may be forced to accept the lower price if it is a better option than continuing to pay the carrying costs on the property or continuing to hold it in a declining market.
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