Need any assistance ?

Friendly_Solicitor

Post your questions on this thread and I will happy to help, or at least put you in the right direction, with all your property related queries.

silvercar

That's really nice of you, welcome to MSE.

Something that has been puzzling me (though not yet been affected by it).

Once you have exchanged contracts, what redress do you have if either your seller refuses to vacate the property on completion date (I guesss due to problems further up the chain)? Can you go to court and force them out?

Also what happens if your buyer doesn't complete on your purchase?

People mention losing the 10% deposit, but having entered into a contract I would have thought they would have to satisfy the whole contract not just walking away and losing the deposit.

Debras_Angel

Hi FS Welcome to MSE.

I have moved into a new house and have had a few snagging problems which they have been great at fixing. My question is should they fix every minor little thing that may arise and how long before they can say enough is enough?

Also cracks are now starting to appear in most rooms/on strairs and I would expect this to happen as the house settles and would the builders be expected to rectify this?

Many Thanks in advance Debs

I'm reckoning we have a year for any problems.

gabba

Just a thought, but maybe each question should be on a different thread so that people no what is being discussed and do not have to trawl through pages of answers trying to follow the conversation.

Friendly_Solicitor

Exchange of contracts will legal bind the completion date, as agreed within the contract.

If there are delays upon completion then the terms of the contract will set out what the willing party can do. Ordinarily you will have a contract rate of interest that can be charged on the purchase price, this then becomes a debt due to the willing party.

Where completion is delayed a notice to complete can be served upon the defaulting party. These are really quite rare and although they make time of the essence it is quite often the case that completion delays, rare in themselves, are for a day.

With respect to a failure to complete and a full breach of the contract the willing party will claim 10% of the purchase price as damages. You will only be able to claim further if the contract has allowed you to do so, i.e. for removal penalties, failure to complete your related transaction etc. Although if I see a vendors solicitors trying to put such a clause in I cross it out straight away.

Friendly_Solicitor

In my experience most developers will come out and sort these cracks out - although you are right in saying there will be a policy cut off, this will not last forever

In any event you are likley to have NHBC Cover. Within the first two years ofownership the following applies to your Buildmark cover :

Cover during the first two years

If you discover any defects or damage, you must report these to the builder in writing within the first two years. The builder must put right any defect or damage to your home within a reasonable time scale. If the builder is given written notice of defects or damage within this period of cover, the builder remains liable as above, even after this period of cover expires.

If after notifying the builder in writing, you've received no response, contact NHBC via Claims Online and they will write to them on your behalf.

Please remember that the builder is not responsible for items such as normal shrinkage or normal condensation due to the property 'drying out', general wear and tear and damage arising from failure to maintain the property.

NHBC Resolution Service

If the builder fails to rectify the problems, NHBC will usually offer a free Resolution Service, which aims to resolve disputes between you and the builder. Under the Resolution Service, they can also help arrange the remedial work needed to put things right if the builder fails to do so. If the builder is insolvent, then they insure his obligations.

They can only help with disputes about defects or damage to your home. They will not be able to help you if you have a dispute about financial or contractual matters.

Friendly_Solicitor

Being new to these forums I would appreciate any advise you may have in setting up these threads so that they are easier for people to use

Debras_Angel

Thanks for your quick response FS.

Me thinks you will get inundatd with questions due to being so helpful.

Cheers

Debs

silvercar

Thanks.

I'm selling my home and buying another at the same time for more money. If my buyer fails to complete I get the 10% deposit he made, but I can't complete on my purchase because i need the equity from my house to do that. So I lose my 10% deposit on my purchase. So I'm out of pocket by 10% of the difference between the 2 properties. :eek:

Either that or I delay completion, market my house at a reduction of 10% (that I've got from my failed buyers) and hope for a quick sale.

I know its rare but I wonder if there is insurance you can take out to cover this event?

Friendly_Solicitor

You would be unable to sell your property in the very short time you would be given under a completion notice - it would depend who you are buying from and what position they are in.

I would try to place in your sale contract a clause stating that if the buyer fails to complete he will be liable in addition for your liaibility under your related purchase, less the 10% deposit due to you on the sale file.

With respect to insurance I am aware that it is out there, but is rarely used - would recommend a trawl through the insurance companies.

gabba

FS - a new thread could be started by those asking a question. Maybe if they put FS then the question you would know it was aimed at yourself.

Hope your time recording all this advice!!