The word "gazunder" is an informal British slang term that refers to the act of lowering the price of a property just prior to its sale. The word is spelled phonetically in IPA as /ɡəˈzʌndə/. It is thought to have originated in the early 20th century and may have derived from the Yiddish word "gezunta," which means health. Gazundering is considered poor form and is generally frowned upon in the real estate industry.
"Gazunder" is a seldom-used, informal verb that originated in the United Kingdom. It refers to the act of lowering or reducing a previously agreed-upon offer or price for a property, usually just before the exchange of contracts during a property purchase. This action is typically taken by the buyer, who decreases the offered price with the intention of securing a better deal for themselves, often at the expense of the seller.
The term "gazunder" gained popularity in the housing market during the late 20th century, particularly during periods of economic instability or declining property values. It became more commonly used during times when buyers had the upper hand in negotiations due to surpluses of available properties or a decline in demand. Gazundering often occurs when a buyer intentionally takes advantage of a seller's vulnerable position, such as when the seller is motivated to sell quickly due to financial pressures or an urgent need to relocate.
The act of gazundering can lead to frustration and disappointment for sellers, who may have invested significant time and effort towards securing the initial offer. This maneuver can undermine trust between the parties involved and potentially cause the transaction to fall through. In some cases, gazundering can create a domino effect, causing subsequent deals in a chain of property transactions to unravel.
Overall, "gazunder" refers to the act of reducing a previously agreed-upon offer or price for a property, with a focus on the dynamics of buyer-seller negotiations in the real estate market.
The word "gazunder" is a British slang term that originated in the early 20th century. It is a blend of two words: "gazump" and "under".
The word "gazump" comes from the Yiddish word "gazumph", which means "overcharge" or "cheat". It entered English in the late 19th century and was initially used in the context of real estate transactions, specifically when a seller accepted an offer and then increased the price before the sale was finalized.
The term "under" simply means below or beneath. When combined with "gazump", it created "gazunder", which describes a situation where a buyer lowers their offer just before the exchange of contracts, putting the seller in a difficult position.