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New Build Nightmare Scotland - House buyers are facing homelessness and ruin
Anon1
Posts: 23 Forumite
Sneaky house builders blasted for leaving prospective buyers facing ruin through property value clauses;
http://www.dailyrecord.co.uk/news/business-news/2008/12/08/sneaky-house-builders-blasted-for-leaving-prospective-buyers-facing-ruin-through-property-value-clauses-86908-20954467/
http://www.dailyrecord.co.uk/news/business-news/2008/12/08/sneaky-house-builders-blasted-for-leaving-prospective-buyers-facing-ruin-through-property-value-clauses-86908-20954467/
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Comments
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I'd say it was unfortunate, but not sneaky. These clauses are in most new build off-plan and pre-build contracts. The buyers should have had these pointed out by their solicitors; their solicitor's role is to point out to them any issues - and this would be one of them.0
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This applies to ALL house contracts - it's the essence of the contract. In fact, I don't think there is a clause in the contract, anyway. It's simply what happens under the law if one party to a contract fails to carry out their side of it.No reliance should be placed on the above! Absolutely none, do you hear?0
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Its hardly sneaky, the guy signed up to buy a house, agreed a price that he was happy with at the time. The builders aren't all bad guys you know, they probably have secured other expenses on the back of this 250k. Its unfortunate the guy has lost his job but why should the builders loose money, its not there fault that prices have dropped?0
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