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Bovis homes pulling out of contract
sslondon
Posts: 4 Newbie
Hello
We recently reserved a new build by bovis homes. The asking price was £230,000 and we agreed at £210,000. We reserved the plot on Sat (3 days ago).
Today i got a call saying their head office is not happy with the price and their sales manager will call me to explain what will happen next. I am guessing they will ask for more money or pull out. If they pull out, we will get full refund of reservation fee.
The reservation contract we signed says "We will reserve the price until the exchange of contract". There is nothing that says what happens if they pull out, all the conditions are geared around what happens if we pull out.
Does this happen often?
We recently reserved a new build by bovis homes. The asking price was £230,000 and we agreed at £210,000. We reserved the plot on Sat (3 days ago).
Today i got a call saying their head office is not happy with the price and their sales manager will call me to explain what will happen next. I am guessing they will ask for more money or pull out. If they pull out, we will get full refund of reservation fee.
The reservation contract we signed says "We will reserve the price until the exchange of contract". There is nothing that says what happens if they pull out, all the conditions are geared around what happens if we pull out.
Does this happen often?
0
Comments
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wow , the bleeding cheek of it , imagine it the other way around!Never, under any circumstances, take a sleeping pill and a laxative on the same night.0
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If you can afford an hour with a solicitor, you may be able to sue them for non completion of the contract and the solicitor can make them buy there way out with what is know as a kill fee to avoid huge legal costs
Could be an easy way to 10 grand at least.
Get it read !Be happy...;)0 -
spacey2012 wrote: »If you can afford an hour with a solicitor, you may be able to sue them for non completion of the contract and the solicitor can make them buy there way out with what is know as a kill fee to avoid huge legal costs
Could be an easy way to 10 grand at least.
Get it read !
If no contracts exchanged either party can pull out without penalty.
I'd expect this to be a waste of time.Thinking critically since 1996....0 -
somethingcorporate wrote: »If no contracts exchanged either party can pull out without penalty.
I'd expect this to be a waste of time.
Have you read the OP's post ?Be happy...;)0 -
I suspect the local office acted without the area sales managers permission and your house takes them below quota. If you love the house they may give you the option to pull out with your deposit in tact or allow you to offer more. If you love the house maybe try and get a few extra fixtures and fittings if they make you pay a few more £££s!0
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If no contracts exchanged either party can pull out without penalty.
I'd expect this to be a waste of time.
New build house reservations are not the same as secondary market house transactions.
There is a reservation contract and it can be binding, though expect the builders to have included some wiggle room they might be able to exploit. Typically it's far far more limited than an actual sale contract.0 -
spacey2012 wrote: »Have you read the OP's post ?
Have you seen reservation contracts? There is no way that the house builder would be stupid enough to leave themselves exposed given such a situation.Thinking critically since 1996....0 -
I would say yo had a lucky escape OP, Bovis build quality IMO is shabby at best..........
Beware of the NHBC warranty that you get with new builds, they are worthless and plenty of threads about them in the DIY section. NHBC is funded by the housebuilders so theres a huge conflict of interest and they will wriggle out of 98% of claims.0 -
spacey2012 wrote: »If you can afford an hour with a solicitor, you may be able to sue them for non completion of the contract and the solicitor can make them buy there way out with what is know as a kill fee to avoid huge legal costs
Could be an easy way to 10 grand at least.
Get it read !
Does the OP have an definable £10k+ loss to sue for ?
Bovis homes i believe are signed up to the Consumer Code for Home builders who offer a dispute resolution service.
http://www.consumercodeforhomebuilders.com/dispute_resolution_scheme.php
There is an example in their literature where a plot was reserved then sold to someone else for a higher price, the claim was for £15k, and although it was successfully the compensation was £250 for inconvenience, £55 for postage and the £120 dispute resolution fee.0 -
Only OP has seen the contract in question.somethingcorporate wrote: »Have you seen reservation contracts? There is no way that the house builder would be stupid enough to leave themselves exposed given such a situation.
As I understand it, sauce for the goose is roughly sauce for the gander, otherwise it is an unfair contract term. So either both of buyer and builder should have wriggle room - or neitherYou might as well ask the Wizard of Oz to give you a big number as pay a Credit Referencing Agency for a so-called 'credit-score'0
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