Gazundering is when a homebuyer reduces their offer just before exchange of contracts. Gazundering is more common in a buyer's market.
Gazundering is legal in England and Wales as there is no legally binding contract until a buyer and seller exchange contracts.
Chris Salmon, Director
About the author
Chris Salmon is a co-founder and Director of Quittance Legal Services. Chris has played key roles in the shaping and scaling of a number of legal services brands and is a regular commentator in the legal press.