It's legal, but is it moral??

PasturesNew

Once you sign the missives you HAVE to buy it. You have to know where the money's coming from, guaranteed.

NO OPTION to come here and whine:
- I can't afford it
- I lost my job
- It's now worth £40k less and I can't get a mortgage
- I am up the duff
- I have a terminal disease
- All the other properties were sold off to a housing association and they're used by drugs dealers just out of prison as a stepping stone
- Gangs run the area after 5pm
- Something just went wrong, it wasn't my fault, I didn't know this would happen, surely they can't hold me to it, I didn't realise, nobody told me

Would you sign those missives in your own blood and promising your first born for sacrifice if you defaulted? THAT is how serious it is.

Bottom line is: do NOT sign missives unless you are 100% guaranteed you understand ALL the risks and can EASILY fund the purchase no matter what happens.

hethmar

I have to say I am amazed that you were queuing for 2 days to buy a newbuild in this day and age. What area do you live in?

Anon1

Where abouts are you in Scotland, I'm not aware of people camping out to secure new builds. Don't believe the hype about prices not dropping in Scotland, check out this article;

http://www.sundaymail.co.uk/lifestyle/law-advice/2008/10/19/save-200k-on-a-new-house-78057-20817724/

Discounts are there to trick people into thinking they are getting a bargain. If your 3 bed that your queuing for is such a bargain, then it should be a really long queue!

iolanthe07

What is a 'missive'?

AMILLIONDOLLARS

TIAMAI_D'S SIGNATURE

Debt-free as of
15th Dec 2007
:j

NOT AFTER YOU'VE DONE THIS DEAL!!!!

And another thing! were you physically queing or did the estate agents claim you were in a que on his list?

AMD

neas

i honestly cant believe how defensive the op is when its clear nobody is agreeing with their decision to even contemplate signing up for a new house in thisd day and age.

Recent news .. that would cause most sensible people to cry...

House prices on average FELL 2.2% in a month this month... they are now 15% or so year on year from what they were. In 1-2 years it takes this new build to be built itll be worth 80-90k max!... you will have lost money not gained money.

But if you want to take such a brash decision without using an ounce of thought/research go ahead... be my guest get into massive debt again with negative equity... and enjoy working 6+ years trying to get out of debt again...

Id have thought you'd have learned your lesson by now? Save save save? No such thing as a quickbuck. I figured high posters on this forum were savvy with money... obviously I was wrong

EA must've saw you and thought 'Yum Yum, someone easy to con!.. time for my payday!'

beecher

iolanthe07 wrote: »

What is a 'missive'?

In Scotland missives are exchanged to bind the deal.

Premier_2

Sorry I've not read all the replies, but the question that intrigues me is:

Why is the developer selling off properties at below market value when he appears to have prospective buyers queueing up for 48 hours attempting to buy them?

Premier_2

tiamai_d wrote: »

Firstly, where I live house prices have not gone up enough to go down. ...

That's a cracker! :rotfl:

Deserves a nomination for post of the month for that alone surely!

gggareth

If it looks like it is too good to be true ...



Then it probably is..

Buyer Beware!!!!