gazump


gazump
To raise the price of, or accept a higher offer for, land, buildings, etc. , on which a sale price has been agreed but before the exchange of contracts has taken place. The intending purchaser with whom the sale price had been agreed has no remedy, even though he or she may have incurred expenditure on legal fees, surveys, etc.

Big dictionary of business and management. 2014.

Look at other dictionaries:

  • gazump — ga‧zump [gəˈzʌmp] verb [transitive] informal PROPERTY if you are gazumped, someone who has agreed to sell you a house at an agreed price sells it to someone else for more money: • If any client of our agency is gazumped, we refund him or her the… …   Financial and business terms

  • gazump — To increase by subsequent bidding by an individual with effect of annulling any previous offer. (Dictionary of Canadian Bankruptcy Terms) United Glossary of Bankruptcy Terms 2012 …   Glossary of Bankruptcy

  • gazump — ► VERB Brit. informal ▪ deprive (someone whose offer to purchase a house has already been accepted) from proceeding with the purchase by offering or accepting a higher figure. DERIVATIVES gazumper noun. ORIGIN originally in the sense swindle :… …   English terms dictionary

  • gazump — UK [ɡəˈzʌmp] / US verb [transitive] Word forms gazump : present tense I/you/we/they gazump he/she/it gazumps present participle gazumping past tense gazumped past participle gazumped British informal if you are gazumped, someone who had agreed to …   English dictionary

  • gazump — gazumper, n. /geuh zump /, Brit. Slang. v.t. 1. to cheat (a house buyer) by raising the price, at the time a contract is to be signed, over the amount originally agreed upon. n. 2. an act of gazumping. [1925 30; earlier gazoomph to swindle, argot …   Universalium

  • gazump — verb a) To raise the selling price of something (especially property) after previously agreeing to a lower one b) To buy a property by bidding more than the price of an existing, accepted offer …   Wiktionary

  • Gazump — A situation in which the price for real estate or land is raised to a higher price than what was previously verbally agreed upon. Basically, raising the price just before the papers are signed and the deal is delivered …   Investment dictionary

  • gazump — ga|zump [gəˈzʌmp] v [T usually passive] BrE informal if you are gazumped, the person who is selling you a house sells it to another person who offers them more money ▪ We were gazumped at the last minute. >gazumping n [U] …   Dictionary of contemporary English

  • gazump — British. To offer more for a house than another has already offered and had accepted. In US, this is not allowed in UK, it is I ve been gazumped on the house I made an offer on …   Dictionary of american slang

  • gazump — British. To offer more for a house than another has already offered and had accepted. In US, this is not allowed in UK, it is I ve been gazumped on the house I made an offer on …   Dictionary of american slang

  • gazump — vb British to cheat (in a house purchase) by rais ing the price at the last moment, after agreement has been reached but before contracts have been formalised. An old expression from the language of swin dlers, revived to denote a practice which… …   Contemporary slang


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