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Quasi or full blown gazundering

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  • Quasi or full blown gazundering

    Hi All,

    I've put an offer on a house 10 days ago (so a lot of time before exchanging contracts) and it was accepted - 4% under the asking price. However now I'm thinking I've got carried away, especially looking at the prices of properties sold in that particular street. The seller have already found something which is chain free (so am I).
    I now have 3 options:
    - Call the deal off completely (lose a house I like plus a couple hundred pounds)
    - Let those thoughts eating me alive until we exchange contracts
    - Call the EA and revise my offer (instead of 4% I'd offer 8% below the asking price).
    Now how would you look at me if I did that to you?

  • #2
    Re: Quasi or full blown gazundering

    If you did that to me I would be furious and initially want to tell you to get lost. However, if you put it to them reasonably and with good and valid reasons why then there may be some compromise. You have to be prepared to either lose the house or remain at the same price, but I suppose you would have tried.
    It is unethical though and I don't think you realise the amount of distress you could cause to your vendor. Also there would be no goodwill from the seller - for example if I was selling I would make sure my house was spotless for the buyer but if you did that to me then tou'd have to clean it yourself !