contracts nearly exchanged and then they changed the price!

elspeth240

Sounds like a perfect opportunity to get out of the purchase. If you haven't signed the contract then tell them to stick it and look elsewhere, you'll get a far better deal. If contract's have been signed then they can't decrease the price they are giving you, offer them less for theirs if this is the case.

fatpig_2

fitcrazy wrote: »

Does anyone have any suggestions? Please help. We have waited 6 months now on a new build - back in july we agreed prices with a house builder of £150k part ex for my house and 235k for their new build(yet to be built).
We then had a valuation done and the new house was priced at 225k which the house builder agreed to.
It took them till end dec to issue contracts at 150k and 225k which we signed and sent straight back.
then they phoned me in january to say they were re-valuing my property (which i thought a pointless exercise as all property falls and therefore the new build will have done too). It took them another 3 weeks (after chasing them endlessly) to inform me that if we still want 150k then theirs is now 235k and if we accept 140k (as mine has gone down!!!) then we can have it for 225k.
I naturally went mad and said i would have another valuation done and they informed me that i would be wasting my money and it wasn't open for re-negotiation.

Can anyone help me here? Any feedback would be very much appreciated.
thanks

Phew! That was close, you nearly purchased a NEW BUILD that'll probably fall down in about 5 years. Thank your lucky stars the purchase fell through.

thepeachyone

~This sort of thing used to be commonplace when I was buying my first home around 1980, but it was because houses were in great demand and house prices were rising. The current climate isnt like that as far as I can see, so I would be suspicious. I would think its something to do with the part ex property or as others have said, another buyer wants the house. Good luck!

Robert_Sterling_3

Contracts are either changed or not changed there is no in between stage when they are nearly changed.

flossy_splodge

sorry to get a bit airy fairy and mystical on you but sounds like the universe is giving you a clear message to walk away.
It's always hard at first to change a previously set course of action (the principle of inertia comes into play!) but the short term pain may well give you long term gain.

Most posters here seem to think you should play hard ball or just walk, I think that's good advice.
Good luck anyway and let us know what transpires?:T