Gazump

Okay, so you're buying a house from John Doe Realty. You reach a verbal agreement on how much you will pay for the house, but when you go to sign all the paperwork...John Doe Realty tells you the price is a higher number than what they told you originally.

They say the price increased because someone else put in a higher bid, so the realty company is giving you the opportunity to keep the home by paying the higher price. If you don’t want to pay the higher price, then you don’t get the house, despite already verbally agreeing on it.

This actually is legal...although very unethical. It’s a pretty shady practice that will not get John Doe Realty known as a trusted realtor or seller.