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New Build Homes - Deposit Refundable?

[Deleted User]
[Deleted User] Posts: 0 Newbie
in House buying, renting & selling
Hi all,

Pretty grim post I'm afraid so sorry for the downer!

I've just heard that there is a chance I could lose my job very shortly. I decided to buy a new house in January off-plan and I have so far put down £3000 by way of deposit.

Chances are I will have to let Barratt know I can't proceed now because of what's happened. It's an unusual scenario in that it affects the whole industry I work in so I can't just go to another company. I will have to retrain to get anywhere near the same salary I do now so for the time being a brand new house is it of my range.

My question is whether I will be able to reclaim my deposit that I have paid so far? The total amount I was set to contribute by completion is just shy of £6,000 and obviously I am not in a position to proceed any longer. Does this kind of thing vary on a case by case basis, have any of you had any experience? Please help!

Kind regards,

Paul.

Comments

  • sortofok
    sortofok Posts: 515 Forumite
    Sorry to hear about the job loss Paul.

    If there are other buyers waiting, I would imagine that any reasonable developer would refund your deposit in these circumstances.

    However, in my experience most of them are a bunch of greedy, profiteering scumbags so don't hold your breath.

    Good Luck
    Whenthemusicstopsmakesureyou'renotleftstanding
  • epz_2
    epz_2 Posts: 1,859 Forumite
    dont some people sell houses on at a profit if there s a demand, basicly the buyer sighns over the same day as you pay for it.

    it really depends on demand
  • tincat
    tincat Posts: 935 Forumite
    Please don't be offended as I have to ask.......

    Are you one of the inspectors trained for the whole HIP thing?
  • sortofok
    sortofok Posts: 515 Forumite
    tincat wrote: »
    Please don't be offended as I have to ask.......

    Are you one of the inspectors trained for the whole HIP thing?[/    QUOTE]




    Who?
    Whenthemusicstopsmakesureyou'renotleftstanding
  • tincat
    tincat Posts: 935 Forumite
    Well, I'm just wondering as he heard the bad news today, HIP's are put on the back burner today, and there are at least 500 trained inspectors (1500 short of the number actually needed according to Ruth Kelly).

    That's why I'm wondering if he's one of the 500.
  • mr.broderick
    mr.broderick Posts: 3,778 Forumite
    1,000 Posts Combo Breaker
    sortofok wrote: »
    tincat wrote: »
    Please don't be offended as I have to ask.......

    Are you one of the inspectors trained for the whole HIP thing?[/    QUOTE]




    Who?

    dont blow your cover big boy
  • tincat
    tincat Posts: 935 Forumite
    c0nn0r84 wrote: »
    It's an unusual scenario in that it affects the whole industry I work in so I can't just go to another company.

    See what I am asking?
  • sortofok
    sortofok Posts: 515 Forumite
    mr.broderick wrote: »
    sortofok wrote: »

    dont blow your cover big boy

    You fool balders the tinman's not referring to me.

    You are getting paranoid again.
    Whenthemusicstopsmakesureyou'renotleftstanding
  • mr.broderick
    mr.broderick Posts: 3,778 Forumite
    1,000 Posts Combo Breaker
    sortofok wrote: »
    mr.broderick wrote: »

    You fool balders the tinman's not referring to me.

    You are getting paranoid again.


    you sure its not you getting paranoid?
This discussion has been closed.
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