Welcome to the 1520 Perfect Dictionary
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| Gazumping | |
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| GAZUMPING Definition: (British English) A situation in which someone who has made an offer to pay a particular price for a house and has had this offer accepted, then has the offer no longer accepted by the person selling the house because somebody else has made a higher offer. ______________________________________________________________________ * All six elements should be in. 1. Purposeful for seller and the eventual buyer (connect to #2). 2. Considered a necessity for earlier offer to be turned down. 3. No loss is suffered by the person who made earlier (= lower) offer, by way of reduction in the value of refunded deposit, inspection costs, etc., if any, as applicable. 4. Better offer is accepted and leads to negotiations and a contract being signed (connect to #6). 5. Rejection goes with an apology, to whose earlier offer was turned down, even if not with an explanation. 6. Seller is not 'gazundered'. That is, person who makes new (improved) offer is a serious customer. In other words, prospective buyer pays for the house, at a price that is higher than the one earlier turned down. _______________________________ See perfect ANNOYANCE (1). | |
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1520 Products was established in 2005 with the purpose of entertaining and teaching us on key and important aspects of life (such as marriage, sex, etc) through the playing of games which will allow us to laugh but at the same time pass a message of what is the right or ideal way. |
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