Home hunters Gazanged not gazumped

Lots of home hunters are used to be gazumped at the last minute, however a new term to enter the hunters vocabulary is gazanged.

More home hunters are now getting gazanged as home owners decide not to sell at the last minute.

Recent research by website IN DEED has suggested that many deals have fallen through at the last minute because property owners have decided not to sell and stay put, just before signing the completion documents.

The survey of 1,000 adults found that property was withdraw at the last minute as sellers could not find a suitable replacement property for themselves, while others got cold feet because of the state of the housing market and economy.

The television presenter Phil Spencer was quoted as saying “In such a volatile market, it’s not that surprising that many more sellers are changing their minds at the last minute, especially when there are so few suitable homes available.”

Kevin Cox founder of Bristol Letting Agents Igloolets.com said “This just goes to show how difficult the selling market is as the moment, there is a lots of nervous people out there, that is why many more people are choosing to rent, as more people expect that house prices still have some margin to fall further. Until we see a marked up beat economy”