M
milo80
Guest
I am a first time buyer who put a deposit on a property about 2 years ago.
I was initially informed (although nothing binding in the contract) that the property would be completed a year ago, however i only recently received a completion notice.
I had informed the builders nearly a year ago (via my solicitor) that my circumstances have changed and i would like to talk to them about getting out of the contract.
I received no response and now that my completion date has passed the builder is threathening performance proceeding if i do not close. As my bank (per offer letter) will require updated valuation in order to close, i have tried on numerous occasions to renegotiate the price however the builder has not responded once, other than sending threathening letters.
My hands are tied as i am not in a position to close even thought i want to, and the builder is making no effort to even enter into any kind of negotiation.
I know this has been discussed and i understand that legally they can sue, but has anyone been in a similar situation and can they tell me what the outcome was and what the likely outcome here is?
I was initially informed (although nothing binding in the contract) that the property would be completed a year ago, however i only recently received a completion notice.
I had informed the builders nearly a year ago (via my solicitor) that my circumstances have changed and i would like to talk to them about getting out of the contract.
I received no response and now that my completion date has passed the builder is threathening performance proceeding if i do not close. As my bank (per offer letter) will require updated valuation in order to close, i have tried on numerous occasions to renegotiate the price however the builder has not responded once, other than sending threathening letters.
My hands are tied as i am not in a position to close even thought i want to, and the builder is making no effort to even enter into any kind of negotiation.
I know this has been discussed and i understand that legally they can sue, but has anyone been in a similar situation and can they tell me what the outcome was and what the likely outcome here is?