The rampant rise of gazundering: property buyers demanding money off the agreed deal

The Ministry for Housing, Communities and Local Government has said: ‘“We’re stopping gazundering by introducing legally binding agreements that prevent buyers from walking away at the last minute without a valid reason, with fines for those who do.” Until then, it’s perfectly legal. Distasteful, yes; against the law, no. As we found to our cost, not everyone is disapproving. In fact, there is plenty of material on the internet, on social media, in forums, dedicated to achieving a successful gazunder. One site carries a page entitled “gazundering is your friend”. The tactic, it proclaims, “is part of the game. If you don’t play your gazunder card at the right time, you only hurt yourself.”