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What is Gazundering? Top preventative tips.

At Horton & Storey, we understand the potential risks of gazundering and take a proactive approach to mitigate them.

 

As a homeowner, the prospect of being gazundered can be daunting. To avoid falling victim to this tactic, it’s essential to take the following steps:

 

Choose a chain-free buyer

When you have multiple interested parties, prioritize those not part of a chain. They are more likely to move quickly and won’t be burdened by additional costs or affordability issues that could lead to a lower offer.

Set a date for the exchange

As soon as possible, establish a target date for when you’ll aim to exchange contracts. This will keep all parties focused and motivated to move forward.

Move quickly

Stay in regular contact with your solicitor and agent, and ensure they are in touch with the buyer’s solicitor to ensure everything is progressing smoothly. Additionally, if possible, maintain open communication with the buyer to build a relationship and prevent them from resorting to underhanded tactics.

Be realistic about your price

Setting your house price too high increases the buyer’s chances of lowering their offer. Establish a fair price to avoid this from happening.

Get a good estate agent

A quality agent will know how to handle tricky buyers and keep the process on track to ensure a successful sale. You can see tips on how to choose HERE.

Be transparent

Don’t hide any problems with the property or the surrounding area. Being honest and upfront will prevent surprises later on and reduce the chances of the buyer lowering their offer or backing out.

Work out your finances

Even when a reasonable offer has been accepted, if you’re in a chain and need to move, calculate the lowest bid you would be willing to take. This will prepare you in case the buyer does reduce their offer, and you’ll know your bottom line.

Following these tips can mitigate the risk of gazundering and ensure a smooth and successful property sale.

 

Are you worried about moving home in 2023? Download our Ultimate Guide using the pop up form at the top of the page.

 

Additionally, We have a brilliant article about downsizing here.

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I recently purchased a property through Horton & Storey. Justyn and Emma were very approachable throughout, ensured I was kept up to date with any relevant information. Thank you all at H&S

Horton and Storey were the agent we chose for selling our property and we were very pleased with them, from the first visit to the close of business, house sold! Always interested in our needs, and professional in assessment, advice, and service. We enjoyed their continued involvement throughout and are pleased to recommend them to all future sellers.

Having recently sold my property through Horton & Storey, I have only the highest praise for Justyn and' All The Team'....ALWAYS kept up to date.....ALWAYS returning any phone messages......ALWAYS remaining polite and professional even when I occasionally put them under a little pressure. Highly recommended.5 star service.

Having recently sold our property through Horton & Storey, i would highly recommend them to anybody looking for an Estate Agent. Professional and thorough throughout the process, we was always kept up to date at every stage. Excellent Service.

Sa Iq (Purchaser) Very friendly and professional estate agents. The nicest agents we dealt with in our search for a proper

Tom and Justyn at Horton & Storey are an absolute joy to work with. Their knowledge, experience and expertise from the start set us at ease and made the process from start to finish an awesome experience. I would definitely recommend them!