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Gazumping: a term used to denote a situation where the vendor has accepted an offer but subsequently accepts a higher offer from another purchaser.

Gazundering: a term used to denote a situation where the purchaser lowers his offer immediately prior to exchange of contracts.

Ground Rent: this applies only to Leasehold properties and is a sum paid annually to the Freeholder by the Leaseholder.

Guarantor: this is a party who guarantees repayment of a loan, using their own assets if necessary. A lender may sometimes require a borrower to appoint such a party.