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Buying a new build - is the builder in breach of contract??
Gooner_1981
Posts: 11 Forumite
We agreed to buy a new build off plan last May, we were originally told completion oct/Nov.
We were able to secure a long stop date from the builder (Taylor Wimpey) of end of February 2015 when we exchanged.
We have now been advised that they will not meet thier obligation and will be delayed until sometime in March.
For failing to keep to their contractual (legal) date what can I do. Can I ask for compensation ???
Please help!
We were able to secure a long stop date from the builder (Taylor Wimpey) of end of February 2015 when we exchanged.
We have now been advised that they will not meet thier obligation and will be delayed until sometime in March.
For failing to keep to their contractual (legal) date what can I do. Can I ask for compensation ???
Please help!
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Comments
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Your choices are (probably) either to walk away from the contract when you reach the long stop date, or put up with the delay. It's very unlikely that the developers would have agreed to pay you compensation for delays, but we haven't seen your contract.0
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The long stop date is the 'compensation'. You can probably walk away and get your deposit back. Walking away after exchange usually means losing your deposit.
Long stop dates can however work in favour of the developer. Your price was agreed almost a year ago, on large schemes prices can increase over time, so your property may now be worth more.
If you walk for the sake of a few weeks TW can do a 'special offer' on your property which is more than you paid, but less than a new off plan property. They win, you lose as you have to pay more!
Friends have lived in a new development for two years. Houses like theirs are now are selling off plan for £150,000 more than they paid.0 -
Gooner_1981 wrote: »
For failing to keep to their contractual (legal) date what can I do. Can I ask for compensation ???
If they fail to complete on the agreed date you have grounds to claim compensation, but seeing as this is a new build I doubt there will be a date set for completion in your contract.
A long stop date is very different to a completion date.0 -
Competition is fierce for new builds at the moment. They will have 4 or 5 people willing to take it instead.
It might be worth asking if they will compensate you, but other than annoyance, what losses do you have?0 -
As am agents for many years surely you know this?
Anyway by the by, answers as above- what's your contract say?0 -
If they fail to complete on the agreed date you have grounds to claim compensation, but seeing as this is a new build I doubt there will be a date set for completion in your contract.
A long stop date is very different to a completion date.
Our contract States completion onor befor end of feb.0 -
Competition is fierce for new builds at the moment. They will have 4 or 5 people willing to take it instead.
It might be worth asking if they will compensate you, but other than annoyance, what losses do you have?
Losses wise we are homeless from the end of Feb due to new tenant moving in, all our belongings are going into storage and our do will need to be looked after/ kennelled0 -
Gooner_1981 wrote: »Losses wise we are homeless from the end of Feb due to new tenant moving in, all our belongings are going into storage and our do will need to be looked after/ kennelled
Why did u hand ur notice in before the house was ready or atleast within a week or 2?!0 -
Why did u hand ur notice in before the house was ready or atleast within a week or 2?!
Because the owners are moving back to the house so we had to be out by the end of feb regardless. All part of getting the builder to agree the completion date befor exchange. Bearing in mind it should of been completed in October/November0 -
Good luck with that - you are at the builders mercy of when they decide to finish the house.
My friend was waiting 18 months for her house to be finished. Builders kept delaying again, and again, and again...Who made hogs and dogs and frogs?
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