The obscure word of the week is gazump

This week’s obscure English word is gazump. It’s generically used to mean an action by one person that defeats the action of another, usually in business.

It has a particular meaning, though, from real estate practises. Specifically, it describes the act of cheating a buyer after an agreed price has been reached, usually by accepting a higher offer from elsewhere. To me it highlights the fact that the real estate business is fundamentally crooked, but usually gets away with it.