RedRow have changed the price ? Can they ?

Sammy85_2

I think they know about the size of the garden and are speculating .

So call their bluff

mel19632

I am an estate agent in Surrey and we have been introducing buyers to a new homes site locally which is with homebuydirect. Unfortunately they have proved really popular and they could have sold them two or three times over.

Frustratingly for you, there is nothing you can do apart from get your holding deposit back. Until you have exchanged contracts you have no rights at all so it really comes down to how much you want the property.

New homes sales staff don't tend to be as cut throat as high st estate agents and also seem to be happier to walk away from deals but I certainly sympathise with you as it is not a very nice thing to be put through.

But there is no fixed rules as this varies from area to area and development to development.

iwearahalo

Sammy85 wrote: »

So call their bluff

But I really want this house ! The area is perfect for Liverpool , near train stations , work , m62 etc etc , not too far from where we live now , an example is the the houses in the slump on the 1st ones went from £280,000 to £250,000 they went back up 3 weeks ago to £280,000 so the demand I assume is there otherwise they would not be charging that .

tealady

If you really want the house then you have to consider is it worth the extra. If you went to a shop to buy something at £10 and when you got to the till the assistant said sorry its £20 you cannot insist on paying £10. I think morally you could ask for your deposit back as you put the money down in the expectation of buying at the lower price.

iwearahalo

When the valuation comes in will it reflect their new price ? Somehow I think £7000 seems a little steep , so maybe there was a small pricing error as only £2000 was the difference between having a house with a garage and getting it semi detatched but say the valuation come in at £10,000 under theirs ? What happens then ?

Many Thanks

ItMightBeUsefulOneDay

iwearahalo wrote: »

But I really want this house !

A good salesman can spot this and will turn it to their advantage and they don't make £7,000 mistakes I can assure you. They are trying to rip you off.

The question, however, is whether or not YOU are prepared to take the hit and pay up. It's a choice for you to make - personally I wouldn't on principal alone because there are more houses out there and I won't deal with people like this. But that would be my choice.

Just don't fall for the banter how how "sorry" they are for their "genuine mistake".

iwearahalo

I dont believe this was a mistake as they are "professionals" , what about the independent valuation ? What happens then ?

gauly

If the valuation for your mortgage comes in too low it is your problem to make up the difference. It's nothing to do with the building company.

If you have already exchanged contract when the valuation is done (or you have to do another valuation because of delays to completion and your mortgage offer expires) then you will be commited to buy at that price and the building company can sue you to force you to complete at that price.

If I was as worried as you about the house being overpriced then I would walk away and find something else - maybe a second-hand house as they are cheaper and less risky.

iwearahalo

So say the independent valuation comes in at £160,000 and they value at £172,995 would they meet us halfway ? Is this the norm or do they simply state this is the price we are selling the property for even though its been valued less ?

chickaroonee

Why would you pay more for a property than an independent valuation values it at?