When you’re buying a home, it’s easy to assume that once your offer is accepted, the property is yours. But until contracts are exchanged, things can still go wrong – and two words often strike fear into homebuyers: gazumping and gazundering.
If you’re searching for your next home and want to avoid unwelcome surprises, here’s what you need to know about these tricky practices – and how to protect yourself.
What is gazumping?
Gazumping happens when a seller accepts a higher offer from another buyer after already agreeing to your offer, even though you’ve begun the buying process.
This can happen at any point before exchange of contracts, as property sales in England and Wales are not legally binding until then. It’s a frustrating and often expensive situation, especially if you’ve already paid for surveys, legal checks, or mortgage arrangements.
What is gazundering?
On the flip side, gazundering is when a buyer reduces their offer just before exchange of contracts, often catching the seller off guard.
This tactic can pressure sellers into accepting a lower price, particularly if they’re part of a chain and want to avoid delays. While legal, gazundering is seen as unethical – especially if used simply to save money rather than due to genuine valuation issues.
Why do these happen?
These situations arise because of the time lag between offer acceptance and exchange. The longer the process takes, the greater the risk of things changing. Here are some common causes:
- A hot market with rising property prices (leading to gazumping)
- Issues found during surveys or mortgage valuations
- Chain delays or uncertainty
- Competitive buyer interest, especially for high-demand homes
Can gazumping or gazundering be prevented?
While there’s no guaranteed protection, there are smart ways to reduce the risks:
1. Move quickly
Instruct your solicitor and mortgage lender immediately after your offer is accepted. Delays create opportunities for gazumping.
2. Request the property be taken off the market
Ask the seller or agent to mark the property as ‘Sold Subject to Contract’ and remove it from listings to deter rival bids.
3. Use a lockout or exclusivity agreement
These contracts commit the seller to a time-limited exclusivity period, giving you space to complete due diligence without competition.
4. Choose a reliable solicitor
A proactive legal team can help avoid unnecessary delays and keep the process moving smoothly.
5. Be transparent and fair
If you’re a buyer, avoid gazundering unless it’s based on genuine concerns (like a negative survey). Ethics matter – and they protect your reputation in a chain.
What to do if you’re gazumped or gazundered
If you’re gazumped:
- Ask the seller if they’ll reconsider or match the higher offer.
- Consider raising your offer only if the property truly warrants it.
- Speak with your estate agent about the situation – they may help negotiate a resolution.
If you’re gazundered:
- Ask the buyer for written justification (such as survey findings).
- If you can afford to hold firm, don’t feel pressured to accept a lower offer.
- Consult your agent for advice on whether to relist the property or find a new buyer.
Need local guidance for your move?
If you’re buying or selling property in Grantham, working with trusted Grantham estate agents can help you avoid common pitfalls like gazumping and gazundering.
At Belvoir, we’re more than just a property agency – we’re your dedicated partner through every step of your home move. From valuations to negotiation support, we offer transparent advice, local knowledge, and proactive communication to ensure a smooth experience.
