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Sat, 18 Jul 2026

Sat, 18 Jul 2026 'My buyers dropped their offer by £15,000 the day before exchange': Gazundering and how to avoid it

It's a small but growing problem in the property market - here's how to protect yourself.

* Gazundering, where buyers lower their agreed offer just before contracts are exchanged, is a rare but growing problem in England and Wales.
* According to the Conveyancing Association, it's a small issue that doesn't happen often, but it's increasing due to the change in the property market, making it a buyers' market.
* The government has planned reforms to tackle issues like gazundering, which would cut the time from offer acceptance to completion by four weeks and save first-time buyers £650 on average.
* However, these reforms are not expected to be implemented until 2029.
* Sellers can take steps to prevent or minimize gazundering, such as: + Being clear with their estate agent about their finances and setting boundaries with prospective buyers + Instructing their conveyancing lawyer to gather necessary documents and searches early on + Considering a reservation agreement or conditional binding offer.