Vendors pull out AFTER exchange of contract

paddedjohn

yasmin_afshur wrote: »

i don't agree with your comment. Firstly i am not buying a car.. it is a house of a high value and the developer is a reputable one. When we agree the sale they told us specifically that not further discount would be given on any of the property.

They sound very reputable.;)

InMyDreams

yasmin_afshur wrote: »

yes but i am not sue how to go about... i am just going to say that they told us assured us that we got the best discount but what kind of threat and would they take me seriously....

They gave you the best discount they had to, to get you to buy the property. Why would they have given you more? Where is the business sense in that? You paid what you believed the house to be worth to you, and you say that was backed up by the survey. Why would they accept less if you were willing to pay that much?

I understand your frustration but I think you are being unreasonable to think that they should not discount any remaining unsold properties by whatever they have to to get them sold.

YMoney

GDB2222 wrote: »

did you not see the mortgage valuation report that you paid for? You are entitled to a copy.

yes will look into this...

YMoney

InMyDreams wrote: »

They gave you the best discount they had to, to get you to buy the property. Why would they have given you more? Where is the business sense in that? You paid what you believed the house to be worth to you, and you say that was backed up by the survey. Why would they accept less if you were willing to pay that much?

I understand your frustration but I think you are being unreasonable to think that they should not discount any remaining unsold properties by whatever they have to to get them sold.

they told us that no FURTHER discount will be given on the other property. They told us that even if the property will be on the market for 6 months the best discount is £15k. Now after we have exchange they reduce the price on other property... if this is a private negotation... we would be non the wiser but they have publicly advertise the reduction.

YMoney

paddedjohn wrote: »

They sound very reputable.;)

i am not sure what you mean by this comment! This is a forum to assist people not to make fun.

zeeww_2

Honestly I don't think you've got any strong grounds to sue them, and also they did confirm no further discount on other properties when they dealt with you, so that was effective at the time your deal was sealed. Now time had moved on a bit and maybe they need to balance their books etc, they're 'forced' to introduce better deals to attract buyers etc?

Buying house is a stressful process, and if you start legal proceedings against them, that'll add more stress, and also might also bring problems to you when you need them to pop round and sort things out for the first 2 years etc?

Personally I wouldn't trust anything the salesperson said, and you just have to make sure you are happy with the price you paid after negotiation and get on with things. On the flip side, should they raise the asking price of other remaining houses by £40k the week after you exchanges, how would that make you feel? Do the builders have got grounds to sue or ask more money from you?

Thrugelmir

yasmin_afshur wrote: »

It is just that we are getting a smaller house for the same price as one of the big one... such a rip off! I understant that the market is bad but to give such a reduction just after we have exchange when we were told that the most discount that they will give is £15k....

They can afford to discount the others now that they've sold one to you.

GDB2222

yasmin_afshur wrote: »

yes but i am not sue how to go about... i am just going to say that they told us assured us that we got the best discount but what kind of threat and would they take me seriously....

To be taken seriously, you should draw up a press release before you go round. If you don't know how to do that, find a local PR agent and pay him/her to do it for you.

John_Pierpoint

There is a day time Channel 4 programme at 11:00 hrs and it is called "haggle for a home".
There are lots of home owners resigning themselves to selling houses for a lot less than the estate agent told them they would get some months ago.

There is no difference between buying a second hand plot of land, that happens to have a pile of bricks and mortar on it, and buying a second hand car.
Other than the process of exchanging contracts (South of the Border) means you usually have some weeks in which to reconsider.

If you look at the Zoopla web site it includes what they "call a heat map" which identifies by colour the areas of the country where prices are rising and where prices are falling.

As a warning to the rest of us, are you prepared to tell us where in the country this development is and name the developer?

irishjohn

Hi Yasmin
Try to think a few years into the future and ask yourself what you would like your situation to be.

Here in Ireland there are many half completed housing developments which were stopped abruptly in 2007 / 2008 when the recession hit. There are people living in houses which they paid £300,000 for and there are houses beside them - identical and never occupied which are on sale for £180,000.

The roads are unfinished, the surrounding land left looking like a building site.

You agreed to pay what you considered the house to be worth and you wanted the house. If the other three houses cannot be sold without a reduction and special offers they could remain empty and become dilapidated and that will have an effect on the look and desirability of your home.

It's a shame you missed out on the special discount but there is nothing you can do - but seeing the other houses sold and occupied will in the end be a better result.