"Gazumping" Pronounce,Meaning And Examples

"Gazumping" Meaning

Gazumping is a British English term that refers to the act of a buyer withdrawing from a purchase agreement or contract in order to accept a higher offer from another buyer, often without informing the original seller. This can happen in competitive real estate markets where multiple buyers are vying for the same property.

"Gazumping" Examples

Example Sentences for "Gazumping"

The sellers had to put up with a lot of offers before someone finally agreed to pay the asking price, and were grateful not to be gazumped at the last minute.
We were willing to pay top dollar but didn't want to risk being gazumped by a higher bidder at the auction.
The couple had their hearts set on a certain property, but were devastated when they were gazumped just as they were about to finalize the sale.
Because of the fast-moving market, the agent warned us that there was a risk of being gazumped on our dream home.
In such a competitive neighborhood, it's not uncommon to see a house being gazumped multiple times before the deal is finally done.