Pressure from Developers, help!

Ging37

He is speaking to his business partner today and getting back in touch with a decision. Let's see what he says. I will keep you updated.

It's a real eye opener. He has been so lovely and friendly and accommodating and then... BAM!!! Like a different man.

I'm such a tool, trust everyone.

ethank

Who is the developer? Most of the big developers provide search indemnity insurance and so therefore still wish to exchange in 28 days.

Have you called the local searches office at the Council? I called mine and discovered that no one had even contacted them! My solicitor had sent a request to the Search company, which was mislaid. We then had to get the searches back and the solicitor had to email everything to me for me to print, sign and return.

I know your pain. We went through it on 2 houses! Fingers crossed for you!

Ging37

Thanks for the info....checking this out now

scottishblondie

I'd point out to them that with the changes due to the Mortgage Market Review, it could be a long time before any other potential buyer gets a mortgage approved. There have been posters on here saying they can't even get an appointment to make a full application until mid May or even later. With everything already in the pipeline, you are a much more attractive purchaser.

Thrugelmir

Ging37 wrote: »

It's a real eye opener. He has been so lovely and friendly and accommodating and then... BAM!!! Like a different man.

I'm such a tool, trust everyone.

Then I personally would have concerns. Ask yourself why?

Let's say that the developers themselves are under financial pressure. How finished is the entire development or site?

Turn the tables. Stay calm. Ask why you are being harassed. Ask if they are in financial difficulty. As it's not how you would expect to be treated.

Flugelhorn

I agree with Thrugelmir - are they utterly desperate to get the money themselves ?
Don't let yourself be bullied.

Jennie2827

Have you paid a reservation deposit on the property? Was their a stipulation that you had to exchange in 28 days? If you have paid a deposit without the reservation clause, then a reputable builder would honour this and not put it back on the market. Good luck. .

ethank

To be honest - all of the big builders do this. I got calls from our developer very regularly, and it was quite hairy a few times. They wanted to exchange in 28 days, and I think we managed it in 8 weeks. I received the threat of re-marketing about three times. The way they see it - the house is not sold until it is legally sold!

Bantex_2

Is this in an area of rising prices?