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First time buyer - unreasonable request from developer?
Comments
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poppysarah wrote: »But what if they don't stay afloat and you lose your money and don't get a house?
Is there nothing already built for a similar price?
Nope, theyve been sold.0 -
Well wait til these are built.
Seriously do you not read the news?0 -
£155K? By October, it will have devalued by the best part of 10%. 75% deposit??!! Are you serious???"You were only supposed to blow the bl**dy doors off!!"0
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Is your solicitor the one they wanted you to have? You need to make sure there's adequate protection if they don't build the house.0
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RUN!
Seriously, don't touch this with a bargepole.poppy100 -
poppysarah wrote: »Well wait til these are built.
Seriously do you not read the news?
I read a fair bit online.maninthestreet wrote: ȣ155K? By October, it will have devalued by the best part of 10%. 75% deposit??!! Are you serious???
Everything's so crazy at the moment, it could shoot up, or sideways or down. I'd rather put down an amount that means that we can afford to live comfortably, rather than put down less and have our savings devalue over time on awful savings interest rates, or wait and find all the good places are gone.
Yes, it'd be atad annoying if the value dropped by another 10% but not as annoying as seeing someone else buy it and force us to move to a rubbish location in an apartment we don't like because it's the only one in our price range.poppysarah wrote: »Is your solicitor the one they wanted you to have? You need to make sure there's adequate protection if they don't build the house.
I'm shopping around for solicitors at the moment. Surely they all have to operate the same way to a degree as they're all bound by the law?0 -
...rather than put down less and have our savings devalue over time on awful savings interest rates, or wait and find all the good places are gone.
Savings have devalued this is true, but not as much as you'll experience once you buy a newbuild flat. Isnt Arbury Park the one next to the A14 on the outskirts of Cambridge?
As long as you're not using the solicitors recommended by the builder you'll be fine.0 -
Savings have devalued this is true, but not as much as you'll experience once you buy a newbuild flat. Isnt Arbury Park the one next to the A14 on the outskirts of Cambridge?
As long as you're not using the solicitors recommended by the builder you'll be fine.
Because we didn't have a solicitor in mind at the time, they said about putting their one on the reservation form, but we could change it.
Interestingly, I noticed (because I'm starting to have misgivings) that the reservation form is a joint one (me as primary and my partner as joint) and there are two spaces for signatures.
My partner hasn't signed, so does that mean if we find that there are problems with the details, if he doesn't sign up, we're free to walk away?0 -
Yeah Cambridge is a special case as prices have hardly moved there (the rentals have though oddly)...although why anyone would want to live out there is beyond me...it has no shops, no pubs and its looks likely they wont finish the guided bus due to a £40 million shortfall in the finances...
The flats themselves are okay for new builds though and are very cheap for Cambridge...I dont think this development isnt going to be finished - its been very popular.0 -
Yeah Cambridge is a special case as prices have hardly moved there (the rentals have though oddly)...although why anyone would want to live out there is beyond me...it has no shops, no pubs and its looks likely they wont finish the guided bus due to a £40 million shortfall in the finances...
The flats themselves are okay for new builds though and are very cheap for Cambridge...I dont think this development isnt going to be finished - its been very popular.
Phew, the negativity was getting me down for a moment :P
The good thing about no pubs and shops is that we don't have to worry about spending too much on impulses. The best thing about it for us is it's easy for us to get to work from there and in walking distance of family.
The development is popular, too, with some of my friends missing out on getting places they wanted just last week, because they're going so fast.
I hope it does all go well.0
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