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Can I get back my deposit?
Muimui
Posts: 2 Newbie
I am new to this forum and read through many posts but couldnt find my answer. Hope somone can give me advice.
I paid reservation fee and deposit for a new build which longstop date was 31 Dec 2017. The developer requested to extend it to 31 Aug 2018 (without any proper documentation) and I agreed. Now, the longstop date is approaching and I dont want to wait further. I talked to my estate agent and he said it is unlikely to get back my money even it beyonds the longstop date. The developer will prove that the delay is out of their control. Eventually, i lost my money and the developer will sell the property.
I reached out my solicitor but she is not helpful. No reply from her.
Anyone came across similar situations? Anyone lost their money if they rescind the purchase after the longstop date?
I paid reservation fee and deposit for a new build which longstop date was 31 Dec 2017. The developer requested to extend it to 31 Aug 2018 (without any proper documentation) and I agreed. Now, the longstop date is approaching and I dont want to wait further. I talked to my estate agent and he said it is unlikely to get back my money even it beyonds the longstop date. The developer will prove that the delay is out of their control. Eventually, i lost my money and the developer will sell the property.
I reached out my solicitor but she is not helpful. No reply from her.
Anyone came across similar situations? Anyone lost their money if they rescind the purchase after the longstop date?
0
Comments
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Ignore the estate agent, who wants the sale to go ahead for the commission.
Speak to your solicitor.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.0 -
You need to speak with your solicitor. She has seen the contract, we haven't.0
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I am new to this forum and read through many posts but couldnt find my answer. Hope somone can give me advice.
I paid reservation fee and deposit for a new build which longstop date was 31 Dec 2017. The developer requested to extend it to 31 Aug 2018 (without any proper documentation) and I agreed. Now, the longstop date is approaching and I dont want to wait further. I talked to my estate agent and he said it is unlikely to get back my money even it beyonds the longstop date. The developer will prove that the delay is out of their control. Eventually, i lost my money and the developer will sell the property.
I reached out my solicitor but she is not helpful. No reply from her.
Anyone came across similar situations? Anyone lost their money if they rescind the purchase after the longstop date?
That would depend on your contract but given the developer alreday asked to extend the date, i very much doubt thats the case, if they didnt need to they'd just have sad "tough luck clause X sub para y means you're stuck".
Speak to your solicitor again, when you say "no reply" demand one ! Go and sit in their offices, be a pest.0 -
Thanks all for your advice. I finally spoke to my solicitor and she will look into it for me.0
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