This.Or will they simply tell me to sling my hook.
Well done. Very unusual in a new build contract.Theres a subject to loan clause in the contract
Your timeline doesn't make sense, in some of your other threads, the earliest you expected to snag was June/July so where is the 6-12 month delay coming from?Little to no progress on site in the development I’m buying into, and what was supposed to be a 6 month delay now seems like it’s turning into 12 months.
I doubt your contract stated this, you may have had correspondence with planned completion dates but that would be outside the actual signed contract. As mentioned above, our own contract had something like 30-36 months for completion because it covered all houses being built in the estate and they weren't budging on that clause.Contract states that property was to be ready for snagging in summer but that’s now passed and still no completion date in the horizon
In fairness, you need to accept the responsibility here. You chose to sell your PPR so while it is frustrating, you have to accept those costsMeanwhile my short-term rental and storage costs continue to rack up. Can I request a discount/contribution from the developer in lieu of the additional expense and inconvenience or just pull out altogether
I am happy to stand corrected but I don't think that is how that clause works. We also had it inserted in our contract by our solicitor but the wording was very specific and in was subject to other clauses. In effect, we could only rely on it if there was a major change in our circumstances but not if we just chose not to extend our loan offer (which is very easy to do). Again, speak to your solicitor before doing anything drasticTheres a subject to loan clause in the contract and my mortgage offer is due to expire in six weeks which I could use to trigger an out if needs be.
The simple answer is yes. When we purchased a new build, we were told it would be ready in nine months. We saw that as optimistic so expected 12 months ourselves but it eventually ended up at 14 months. That was starting from ground level, no foundations were in place when we went sale agreed. We also didn't actually sign contracts until about 4 months in because of a lot of back and forth over what should be included in the contract.Trying to ascertain if such delays would be typical and if it’s reasonable to request goodwill compensation from the builder.
This is taking previous delays into account since entering into contracts and now word of a further 6 months til completion. I based my decision to sell on the fact that I couldn’t/shouldn’t time both transactions and took estate agent assurances at face value. And living to regret that now.Your timeline doesn't make sense, in some of your other threads, the earliest you expected to snag was June/July so where is the 6-12 month delay coming from?
@RedOnion In order to invoke this subject-to- finance clause would I typically need to provide written proof from the bank via my solicitor that my loan offer is expired/no longer in place?This.
Could they put it back on the market now and get more for it?
New build contracts almost always cover delays. I think absent a specific clause 24 months from signing is 'acceptable'.
Well done. Very unusual in a new build contract.
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