Raise the price of something after agreeing on a lower price. Usually used in association with real estate market, means that the seller raises the price of a house and in response to a better offer - just before the deal is clinched. It is unethical but not illegal.
rip off; ask an unreasonable price
Gazumping is when a seller pulls out of an agreed sale after accepting a higher offer. This may result in the buyer losing money spent on things such as building surveys.
Gazumping happens when your offer is accepted, and then the seller pulls out when someone else offers a higher offer, often resulting in the buyer having wasted money on surveying fees etc. Gazumping is usually a symptom of a competitive market. GAZUNDERING is when a buyer reduces their offer in a falling market after it's already been accepted.
This occurs when the seller accepts an offer from an interested party and backs out on the agreement when a higher offer from another buyer is received.
A situation in which the price for real estate or land is raised to a higher price than what was previously verbally agreed upon.