Gazundering Revenge

Have you ever found yourself seeking a form of Gazundering revenge? It may not be ethical, but it's a rather amusing way of getting your own back after you've been gazundered in the past. Of course, it will only work if you've fortunately found yourself in a position of power and flexibility to get the revenge you seek.

In this 'just for fun' insight, we are going to cover what gazundering revenge is, some examples, and if it's a good idea.

Key Takeaways

• Gazundering revenge is when sellers retaliate against buyers who lower their offer just before a property sale, giving them a taste of their own medicine.
• Gazundering refers to the act of buyers lowering their offer before completing a sale, which can be frustrating for sellers and create feelings of betrayal.
• Gazundering can have consequences for both buyers and sellers, including financial loss for sellers and potential reputational damage for buyers.
• The psychology behind gazundering revenge involves a desire for control, fear of being taken advantage of, and seeking to restore balance. However, it's important to consider the ethics and long-term implications of such actions.

What is Gazundering Revenge?

Gazundering revenge is when sellers get their own back at their buyers who've lowered their offer price just before contracts are exchanged. It's payback for those who try to take advantage of a seller's vulnerability. 

if you were to inflict gazundering revenge, it could look like the following:

• Pulling out of the property sale
• Re-listing your property in the hope of new offers
• Lowering your asking price below the agreed "gazundered" price.
• Leaving the property in a mess when the sale goes through.

What is Gazundering?

Gazundering is when a buyer reduces their offer price just before the completion of a property sale, it puts the Seller if a difficult position. This can be a frustrating experience for sellers, who have already accepted an offer from the buyer.

In practice, it works by taking advantage of vulnerability. A seller agrees a sale price on their property. For example, £200,000. They progress with the conveyancing work up until it's time to finalise the sale and exchange contracts. In that moment, the buyer refuses to proceed as they have a concern with the property, instead only proceeding if the seller reduces the sale price. As the seller has gone so far in the process, they are worried that the buyer may pull out of the purchase all together, so they accept.

Gazundering revenge takes it a step further. It involves a seller retaliating against a buyer who has gazundered them, or even in the past.

The Psychology Behind Gazundering Revenge

Gazundering revenge is a fascinating phenomenon rooted in various psychological factors. One of them is our desire for control and power. When a buyer lowers their offer, they feel like they have the upper hand, dictating the terms of the deal. Seeking revenge allows sellers to regain control and restore balance.

Revenge is a punishment received in response to an action or injury inflicted upon someone. It's like the saying goes, "revenge is a dish best served cold." Sellers want to protect themselves from being taken advantage of again, showing they won't be easily manipulated

Real Life Examples of Gazundering Revenge

Although we do not recommend any of these suggestions, these are the stories scoured from the internet, providing our real-life examples of gazundering revenge:

Buyer Switcheroo

This example is a situation where a seller is in the final stages of selling their property to a particular buyer. However, following a gazundering attempt, out of spite, or a desire for revenge, the seller abruptly changes their mind and decides to switch to a different buyer. This unexpected move not only surprises the original buyer but also leaves them feeling frustrated and betrayed. 

Prawns in Curtain Poles

In a particularly twisted and malicious act of gazundering revenge, a seller takes advantage of their access to the property before the sale is complete. They secretly hide prawns within the curtain poles, causing a terrible odour to emanate throughout the house. The aim is to create such an unpleasant environment that the buyer becomes reluctant to proceed with the purchase or demands a significant reduction in price.

The Drastically Reduced Price Trap

A seller has experienced multiple instances of gazundering, where buyers have consistently lowered their offers at the last minute. In a calculated act of retaliation, the seller decides to re-list their property at an extraordinarily low price that attracts a surge of interested buyers. This leads to a bidding frenzy, with buyers fiercely competing against each other. Ultimately, the original gazunderer, who had attempted to exploit the situation once again, loses out and is left without the property they desired.

Risky, but bold. I am glad it paid off. That is the biggest risk with trying to seek gazundering revenge. For many people, selling your home is a stressful process and the sooner it's over the better. 

Is Gazundering Revenge Ethical?

Although gazundering revenge may appear tempting as a means to settle the score with those who have wronged you, it's important to think about the ethics involved. Revenge is fueled by negative emotions and can create a cycle of harm. Engaging in gazundering revenge can harm not only the buyer or seller you're targeting but also damage your own reputation and integrity. It's crucial to approach property transactions with honesty, fairness, and respect for everyone involved.

Also, it's important to note that intentionally damaging the property when leaving as a form of revenge can have serious consequences. Such actions could make you liable for legal repercussions and financial penalties. It's always best to handle disputes in a civil manner and seek resolution through appropriate channels rather than resorting to destructive behaviour.

Instead of seeking revenge, redirect your focus towards finding a mutually beneficial solution that enables everyone to move forward in a positive way.

Protecting Yourself From Gazundering

In the unfortunate event that you experience gazundering, here are some suggestions to consider:

Get the property back on the market:

If the gazunderer lowers their offer unexpectedly, you may want to reconsider your options. Putting the property back on the market allows you to explore other potential buyers who may offer better terms.

Put the exchange on hold:

Consider temporarily pausing the exchange process until you assess the situation. This gives you time to evaluate alternatives and make an informed decision.

Ensure the buyer finds out:

It's essential to communicate the change in circumstances to the buyer. This way, they are aware that their actions have consequences, and it may prompt them to reconsider their decision.

Observe how the gazunderer reacts:

Pay attention to how the gazunderer responds to the news that you're considering other options. Their reaction can provide insight into their genuine interest and willingness to negotiate in good faith.

Final thoughts

Gazundering revenge sparks debates and disagreements within the housing market, affecting both sellers and buyers caught in this high-stakes game. While the urge for retaliation may be strong, it's vital to ponder the long-term effects and ethical implications of such actions. Instead, prioritise open communication, establish clear boundaries, and seek guidance from professionals to safeguard yourself from being targeted by gazundering.