Greycoat Real Estate, like other UK real estate agencies, has been weighing in on a common practice in the UK called gazundering. Gazundering is when home buyers try to pressure home sellers into accepting a lower offer. The buyers do this late in the negotiation process.
It’s said that potential buyers face mortgage borrowing rates that are increasing and the home seller market is cool. According to Greycoat, some potential buyers say they lowered their offer when they found out that the home has defects that they didn’t know about.
Others say they thought they would take a chance to try to save money. At Greycoat Real Estate, they know sellers who work with reputable estate agents help buyers set realistic prices.
Also, to tell sellers to be honest about any defects in the home to help prevent buyers from engaging in gazundering. And this is where Greycoat specialists come in.
Unfortunately, many home sellers accept the lower price offered. Some don’t want to go through the process again, especially if there were not too many qualified buyers. Some home sellers need to sell their home quickly, perhaps because they don’t want to lose their new home. As Greycoat finally states, it’s gotten so bad that sellers cannot relax until they have a signed contract in their hand.