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Reservation form on a new build
cpoir
Posts: 1,040 Forumite
I'm hoping someone might be able to give me some advice regarding my rights.
For the past 3 weeks I have been dealing with a large well known building company attempting to buy a property on one of their new developments. After rejecting the 1st purchase and part exchange deal we finally came to an agreement and I signed the reservation form and paid a £500 deposit. We was instructed to contact a solicitor and submit our mortgage application only to receive a phone call days before the surveyor was due to come out, to say that they no longer wish to proceed with the sale. Can they do this? I know the reservation form is not a legal one but do I have any rights??
They even put a sold sign up on our plot. We've paid £900 fees which they have agreed to reimburse but I want the house not the refund
For the past 3 weeks I have been dealing with a large well known building company attempting to buy a property on one of their new developments. After rejecting the 1st purchase and part exchange deal we finally came to an agreement and I signed the reservation form and paid a £500 deposit. We was instructed to contact a solicitor and submit our mortgage application only to receive a phone call days before the surveyor was due to come out, to say that they no longer wish to proceed with the sale. Can they do this? I know the reservation form is not a legal one but do I have any rights??
They even put a sold sign up on our plot. We've paid £900 fees which they have agreed to reimburse but I want the house not the refund
Addicted to MSE 
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Comments
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They have no obligation to sell to you until contracts have been exchanged, which clearly hasn't happened.
Count yourselves lucky that they are paying your abortive expenses!RICHARD WEBSTER
As a retired conveyancing solicitor I believe the information given in the post to be useful assuming any properties concerned are in England/Wales but I accept no liability for it.0
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