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Missing Exchange date on a new build
g40lew
Posts: 19 Forumite
Hello,
After some advice, previous stories etc. We reserved a plot with Charles Church and were advised we would have to exchange after 35 days which we thought wouldn't be a problem. However our mortgage application has been a little more complicated then expected and as we are currently living with parents and everything we have is paperless getting I.D to the solicitor also took some time.
Now my questions is how flexible are developers on their Exchange dates? Any horror stories of forfeiting reservation deposits etc? I am really worried as the new plots for sale have gone up around 5% since we reserved on the same development.
Are developers normally a bit flexible if we are close to being able to exchange?
After some advice, previous stories etc. We reserved a plot with Charles Church and were advised we would have to exchange after 35 days which we thought wouldn't be a problem. However our mortgage application has been a little more complicated then expected and as we are currently living with parents and everything we have is paperless getting I.D to the solicitor also took some time.
Now my questions is how flexible are developers on their Exchange dates? Any horror stories of forfeiting reservation deposits etc? I am really worried as the new plots for sale have gone up around 5% since we reserved on the same development.
Are developers normally a bit flexible if we are close to being able to exchange?
0
Comments
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Never known a builder to be ready to exchange within their own demanded time frame. Not for me, not relatives, nor friends.
Issue are only likely to arise if the builder suspects that you cannot exchange or complete; all the time they expect a sale to occur they will be patient (and slow themselves).0
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