Sq Ft misrepresentation FTB HTB flat

Quartyc

I've reserved a new BUY with £500 (HTB). Mortgage approved and HTB authority to proceed issued. Exchange of contracts due in 2 weeks. Yesterday I realised the flat above the one I reserved is identical in plan but is 30 sqft lesser in measures. I have now asked the sales office to confirm the Sq footage. They are asking the head office as they're unable to spot the difference in the plots either. I'm hoping to get a response by Monday. In the worst case if my doubts are confirmed and if the plot that I reserved is indeed 25 sqft lesser than what I was informed, is it not gross misrepresentation? I'd feel terribly cheated. Is not proceeding with the buy the only option? I'd rather negotiate the price ideally reducing the sqft difference in price (calculating pound per sqft). Please advise on the options I have... I'd still hope the measurements are accurate.

Tygermoth

HTB don't like price renegotiations or discounts. Just so you know. It affects the price and mortgage so causes mayhem.

The builder is likely to offer non cash incentives because they down want to devalue the flat (as it will show on house sales sites)

In our case they removed the back door from the plans, removed access to the garden/utility and driveway. they just told us the like it or lump it. When we pointed how messed up that made the house they just straight up refunded the reservation with no negotiation at all and resold it - a few days later - to some unsuspecting soul.

(note i am in the SE and the market is very hot here so demand is high - if its lower where you are they will be much more likely to play ball)

eddddy

If you still want the flat, you can try negotiating - but there is no guarantee that you will have any success.

If you decide to walk away, you should be able to get your reservation fee back - because of the misdescription.

If you persue things, you might be able to get the builder "told off" for misdescribing the flat. It might make you feel better, but it wouldn't give you any other benefit.

Hoploz

You viewed the property, right? I cannot see how 25 ... or was it 30 ... sq ft could actually make any difference to the way you would live in the flat. This figure is frankly immaterial. The best you can expect for this 'gross misrepresentation' is a freebie or discount on some extra, or if you're not happy then walk away and they'll happily sell it to someone else.

davidmcn

Quartyc wrote: »

Yesterday I realised the flat above the one I reserved is identical in plan but is 30 sqft lesser in measures. I have now asked the sales office to confirm the Sq footage. They are asking the head office as they're unable to spot the difference in the plots either. if the plot that I reserved is indeed 25 sqft lesser than what I was informed, is it not gross misrepresentation?

No, of course it isn't, if the difference is so small that neither you nor the developer can readily detect it, even though you've viewed the property.

I'd feel terribly cheated.

Seriously?

I'd rather negotiate the price ideally reducing the sqft difference in price (calculating pound per sqft).

Why, is that how you calculated the price in the first place? The alternative is that they increase the price of the flat upstairs, if that would make you feel happier.

trevormax

I'm not an expert on the matter but assuming the OP's flat is 30sqft smaller than initially described (and not the other way around where his neighbours flat is actially 30sqft bigger than thought), would this affect the value of the OP's flat somewhat?

Being a new build, the value is going to tank 3 seconds after the RP collects the keys to the flat but when it comes to re-sale, would the reduced size affect the value of the flat?

dc197

There's probably an 'all measurements are approximate' clause in the small print. 25sqft may even be within the margin of error of measurements made.

Quartyc

Thank you all for your insights. I made the offer noting down the sqft. I chose the one with the max out of the 6 that were released. Sqft further determines I'm guessing the maintenance charges and in future to extend the lease and when I'm reselling?
I've indeed seen the flat but it was under construction... If it is incorrect, I would basically lose a bit of trust and I'd start questioning their every move and ask them as to how I can gain their confidence back. I see they probably can't reduce the price at this stage I don't want to withdraw but if my conversation turns out bitter I have to rethink. Looks like I've to be satisfied with some extras. The negotiation I see then is going to be around it.

ixwood

30 square foot = 6' x 5'. Not a huge amount of space. What would you have done if it turned out to be that much bigger than expected?

ellie27

25 sqft is such a small size!

I guess I would feel cheated like you say you do if it was a 100 sqft flat in total?

How big is the flat?

Wassa123

30sqft is like 5ftx6ft. Almost the size of a box room or bathroom.

In a small flat that could be pretty significant.