But many more have lost time and money because their Buyers;
❌ Said they were cash Buyers but really needed a mortgage.
❌ Said they were chain free but really had a property to sell.
❌ Were less than open about their credit with their lender.
❌ Were unrealistic, or untruthful about their timescales for Exchange and Completion.
❌ Attempted to drop the price at the last minute using a survey that they weren't prepared to share.
None of this is illegal!
Sellers who lose a sale for any reason typically lose 6 months of time, and over £3.7K in fees, searches and expenses - but this does not take into account the frustration and heartache of not selling their house the first time out.
Protect yourself by using Gazeal to secure your offer as recommended by Government in their 'How to Sell Guide'.
HM Gov started consulting on this problem in 2017...
Gazeal, the leading provider of Reservation Agreements and a pioneer in fighting against Gazumping and Gazundering, participated in a government-led consultation.
We save you time, money, and unnecessary stress.
Our unique Reservation process provides a Commitment to the terms agreed by the Buyer and the Seller, that Gazeal guarantees, so both parties can proceed in the safest way possible. This ensures a fair and efficient process for all involved, offering protection against anyone who may not be truly committed.
The Old Way of Moving Home is Broken...
On average a property sale collapses every 2 minutes*. With the cost of living and inflation rising, things are tough enough, your home move does not need to be.
Everybody loses when a house sale collapses- sellers, buyers, agents and solicitors.
*Data provided by TwentyEA
A Faster And More Secure Home Moving Process
It costs everybody time and money when a house sale collapses. Not to mention stress and heartache. Keep your home move protected with Gazeal's Reservation Agreement. Watch the video below to see how Gazeal can help Sellers, Buyers and Estate Agents.
Seller provides Commitment and exclusivity to their Buyer.
Buyer matches the seller's commitment. The sale is secured with a Reservation and a Guarantee.
Committed parties enjoy a stress-free sale
Old Way of Selling Home...
New Way of Selling Home
Protect my Sale from Gazundering
Gazundering is when a buyer suddenly reduces their offer or tries to negotiate a lower price for a property just before the sale is completed. In simple words, it's like changing your mind and demanding a discount at the last moment, which can be frustrating and unfair for the seller but is totally legal.
- Protect my agreed price.
- Shorten time to Exchange.
- Increase the chances of moving the first time.
- Receive £ 000's* if your sale collapses.
We are committed to improving the home moving process for Sellers, Buyers and Estate Agents.
Gazundering is all over the news...
Every year thousands of Sellers and Buyers lose valuable time and money. This continues to be a serious problem for anyone looking to move home. Using Gazeal will protect your move from uncertainty and save you time, money and more importantly give you peace of mind.
‘I gazundered my property seller and got £20,000 off the asking price’News
Why do we buy and sell in a way that seems only to encourage gazumping, gazundering and panic?News
Why do we buy and sell property in a way that seems only to encourage gazumping, gazundering and last-minute panics that leave people stranded and out of pocket? The Ministry of Housing, Communities and Local Government puts the cost of sales falling through at £270m a year.
Why do we tolerate our Wild West housing market?News
However, a week before exchanging — and after a gruelling six-month selling process — their buyer decided to drop their offer £30,000. There was no reason for it: no survey showing damp issues, or anything else warranting last-minute bargaining. This was pure gazundering. It’s like the Wild West out there.
Gazundering is back as purchasers reduce offers by thousands.News
A survey of 2,000 people by campaign group the HomeOwners Alliance, BLP Insurance and Resi.co.uk architects found that some 45 per cent of people were concerned about this relatively recent phenomenon - up from 40 per cent last year.
Requesting sellers slash an agreed price just before exchange, without valid cause, might be immoral — but it is not illegal.News
House buyers in London are ‘gazundering’ sellers by demanding thousands off an agreed sale price just before an exchange is about to take place.
According to property experts this latest wave of gazundering, also called ‘price chipping’, is gathering pace as the housing market slowly begins to respond to the UK’s wider economic problems.
Gazundering makes a comeback as house prices stallNews
Despite these cooling market conditions, there remains an air of stubbornness amongst the nation’s sellers who are yet to fully accept this change in market temperature and, as a result, almost a third are being gazundered with a lower offer having originally agreed a price with their buyer.
Highly Rated by Home Movers and Estate Agents.
"I have now used Gazeal a number of times and can admit, that without them a sale would have fallen through without the reservation agreement and support of Gazeal"
"We wanted to make our bid stand out from the crowd, so we offered to enter into a Gazeal Reservation Agreement, which would therefore give the seller the assurance that we would go ahead with the purchase and us the assurance that they would go ahead with the sale - anyone who has bought a house before is likely to have experienced the frustration of the deal falling through, and we wanted to guarantee that no-one would be wasting their time or spending money unnecessarily with their solicitors."
"The team at Gazeal are amazing, Gazeal is the way forward in UK agency. For 30 years I have waited for conveyancing to improve-agents
need to embrace Gazeal and drag conveyancers kicking and screaming into the present"
"Since partnering with Gazeal. I've seen a significant improvement in the speed and accuracy of our transactions. The platform has helped us to reduce the risk of failed transactions, and has given our clients greater peace of mind throughout the process".