28 Day-Exchange of Contracts

Cowster

Hi,

We have just paid a reservation fee of £500 to Miller Homes where there is a 28 day deadline to exchange contracts.

Our solicitor seems to think that this 28 days starts when he recieves the required documentation from Miller Homes to start the process, while Miller Homes (sales adviser) says the 28 days starts from when we signed the contract and keeps stressing the importance of this date.

The 28 days runs out on the 2 July and we arranged our Mortgage through a Broker yesterday - he seemed to think we would not meet this deadline to recieve our offer. Our solicitor has still not recieved any documentation from Miller Homes who was very abrupt with us today when we wanted to raise our concern about this deadline (we had mentioned it before).

We are now worried as the price of the property next door to ours went up by 8k in the first week due to the demand of the site and we also have incentives of carpets and a shower included in our reservation (no other incentives are being given on other plots). It clearly states that the property can go back on the market if we fail to meet this deadline on the reservation form and that incentives can be reviewed.

Does anyone know of when the 28 days does start? The solicitor says were worrying unduly yet Miller Homes are telling us something else.

Thanks for any replies.

Cowster

Ive just noticed the House Buying forum so Ive posted there as well. Apologies if this is the wrong forum.

JoeK_3

What a risky strategy!

Why part with a £500 reservation fee before you know that you have the money in place.

I hope your reservation fee is refundable.

JoeK