Bought a new build and may be price drops in neighbouring properties

StuH_2

Hey ho pretty much what I thought. Unfortunately by the time when the survey was done the deal was too.

I guess I may have just misjudged it badly. We'll see. Its a lovely house and we are happy in it, just dont want to sour it by knowing we've been ripped off by the builders greed.

No grounds as such apart from what I see as fairness, just wondered if there was any precendent.

Generali

Unfortunately it's probably a case of caveat emptor - buyer beware.

What grounds do you think you have for claiming? If you were lied to you might have a claim.

phlash

I feel sorry for you Stu, that you've been blinded by the past decade of house price inflation, it quite simply cannot continue like it has.

There will be far more people posting similiar things in the future.

You must have thought about this when deciding to pay £1/5 Million?! I mean it is a lot of money.

Kez100

It's not buyers greed : it's market forces.

boyse7en

>knowing we've been ripped off by the builders greed

You haven't been ripped off. You negotiated the price you paid, and were happy with that at the time. I can understand you being p'd off with yourself, but the builder is not to blame at all.

pamaris

Unfortunately you don't have any recourse. It is kind of like if you go to TKMaxx and buy something full price, then next week it is on the clearance rack at 50% off. What do you do. This exact thing happened in Florida recently:

http://www.youtube.com/watch?v=10WoQZKZkNs

Many builders and property developers have pushed this HPI thing to the limit and are now getting their fingers burnt.

stamford

StuH wrote: »

Hey ho pretty much what I thought. Unfortunately by the time when the survey was done the deal was too.

I guess I may have just misjudged it badly. We'll see. Its a lovely house and we are happy in it, just dont want to sour it by knowing we've been ripped off by the builders greed.

No grounds as such apart from what I see as fairness, just wondered if there was any precendent.

How can you call it builders greed ?, he named a price and you were happy to accept it. If you buy a packet of Persil in Tescos today for £4.00 and it goes on special offer tomorrow for £3.00 do you run squealing to the Manager ?

I think buying a new house is a bit of a mugs game especially off plan or whatever they call it. Far better to buy a well maintained established property with all the faults ironed out of it.

plane_boy2000

Cant believe that you think the builder has been greedy. He sold you a house for what the survey said it was worth at that point in time. A valuation is only really valid at the point it was carried out as all sorts of factors could affect it in the future such as supply of new houses in the area etc etc.

The reality is that you paid top price at the time, and as time moves on its likely that the builder will start to discount to shift the remaining units. If and when this happens is the time to woryy about it.

BTman

You are the kind of person that has pushed prices up...

Enjoy your negative equity

hearts

Hi Stu, what area are you in? Could you give a link to the site.