New home seller has changed selling price, where do I stand?

MX5huggy

There have been plenty of posts on here about people being held to agreed prices by builders despite taking ages to build a property and prices falling generally the concensus is you have to pay up so why now is the concensus not the builder has to sell?

RichBram

The builder is David Wilson Homes, the property is listed at £199,995. We agreed a purchase price of £155,000 including flooring. 5 days later they came back at £167,000 or £165,000 exluding the flooring.

The house is ideal for us- location, house style etc but as of yet they're not prepared to renegotiate. The property is still at building stage with the roof only just being complete. By all accounts they haven't had much interest so I think they're trying to call our bluff

Rick62

I wouldn't agree to any increase, as SplanK sauggests i would ask them to confirm the agreed price or to return your deposit.

Prices are falling, now is not the time to be pressured to paying more.

besonders1

I would write to your local paper and get them some bad publicity and some extra cash for your deposit fund. They are definitely tying it on just to intimidate you as if they don't get super inflated prices now for it they never will for at least 10 years. I would then move on and offer on different houses, it could be actually be a blessing in disguise.

AMILLIONDOLLARS

I would not pay over the odds at this moment in time!. My daughter is about to dip her toe onto the housing ladder. She's buying a new build 2 bedroom repro flat in Greater London, guest what for £130K!!!!!! reduced from a 2006 price tag of £245K:eek::eek:
Some poor person will be saddled with trying to make up the difference with their building society, New builds are like cars, let someone else take on the depreciation before buying one second hand! If they don't agree to your price WALK!!!


GOOD LUCK
AMD

chickmug

besonders1 wrote: »

I would write to your local paper and get them some bad publicity and some extra cash for your deposit fund.

I am just interested as to where this extra cash comes from and how much do you reckon?

gjchester

clutton wrote: »

but does the verbal confirmation hold any legal weight?

in a word - no

Nope, Verbal contract carry the same legal weight as written ones.

Proving them on the other hand is another matter

dmg24

RichBram wrote: »

The builder is David Wilson Homes

Walk away ... in fact, run for the hills! I live on a David Wilson development, and although I do love my home now, I would never deal with DWH again (except that I still am, having moved in four years ago - I am now taking them to small claims).

A short while ago DWH were offering £1000 to owners that referred others to buy on the development, and my brother was looking to buy at the time. Even the £1000 inducement was not enough to persuade me to recommend them.

A_Nice_Englishman

What does your mortgage lender value the property at? You did get a mortgage agreed before making the offer, didn't you?

GDB2222

If they have rejected your offer, why haven't they refunded your deposit? You did pay it by credit card, I hope?

You have no hold over the property at all, but I can't think of any legitimate reason why they are holding onto your £500.