verb
- to outbid (a potential buyer) at the last moment, especially in real estate transactions
Usage: British informal
Examples
- The seller gazumps other buyers by accepting a higher offer just before closing.
- We were gazumped at the last minute when someone offered £10,000 more.
- The estate agent warned us that the seller might gazump if a better offer came in.
- After being gazumped twice, they decided to look for houses in a different area.
- The practice of gazumping has made house buying increasingly stressful.
- She gazumps the original buyer by raising her offer significantly.