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gazump

 - 2 dictionary results

ga⋅zump

  [guh-zuhmp] British Slang.
–verb (used with object)
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.
–noun
2. an act of gazumping.
Use gazump in a Sentence
Origin:
1925–30; earlier gazoomph to swindle, argot word of uncert. orig.

Related forms:
ga⋅zump⋅er, noun
Dictionary.com Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2010.
Cite This Source Link To gazump
Financial Dictionary

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.

Investopedia Commentary

Basically, raising the price just before the papers are signed and the deal is delivered.

Related Links

20 Investments You Should Know
The REIT Way

See also: Gazunder, Land, Property, Real Estate

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