Rat and Mouse
banner ad
Wed
30
Apr
The gazunderer
‘Gazunder.’ He did his best Simon Callow impression. ‘That’s a quaint word.’ I explained, there’s nothing quaint about its meaning 1) n. a pot for lazy Brummies to pee into when it’s too cold to get out of bed 2) v. pretty much the same practice, aimed at a vendor during an ailing housing market. For the purposes of this column, we’re discussing the second. And gazundering is back.

Our publisher, on gazundering, in his weekly column for Citywire.

Technorati Tags: , ,

Comments

We just "Gazundered" on a �360k property, by asking for a lowered price of �355k due to the survey revealing the need for work on the chimneys.
They both need gallows brackets installed as the chimney breasts have been removed without supporting the remaining structure on some floors.
While it's technically Gazundering, I'd prefer to think of it as haggling for a corrected price.
The process takes so long to complete, that the property can both rise or fall in value. Why should it only be sellers that get to argue the price of a property?
There's always got to be someone who pays more in a capitalist market system. Why should it have to be me?

Posted by PC at June 20, 2008 8:31 AM

Comments

Factoring in repair work is, in most people's view, quite different to asking for a discount simply because you can.

Regarding your second point, though, the sellers get to argue the price of a property because it belongs to them. Sure, property prices can go up and down during the course of a home sale, but would you consider it fair if a vendor delayed exchange for, say, three months, while you paid for surveys, solicitors etc, and then added �20,000 to the price as a condition of exchange, because the market had moved at that time? When you shake hands on a deal, it's a deal. Or else you need to be very clear that it's just a deal while the market remains at this one particular place.

Ben

Posted by Ben at the Rat and Mouse at June 20, 2008 8:39 AM


Please feel free to comment on this entry







 


POSTCODES
UK PROPERTY RESOURCES
US / INTERNATIONAL PROPERTY BLOGS
LONDON BLOGS
ENTRIES BY MONTH
ABOUT
CREDITS
Publisher Editor Technical and Design Hosting Software