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Taylor Wimpey Paying for Options before Exchange of Contracts
Sunshine012
Posts: 30 Forumite
Hi
I am buying a house with Taylor Wimpey.
I have mortgage offer and Authority to Proceed.
Waiting for solicitors to confirm exchange of contracts.
Sales Executive of Taylor Wimpey is pushing me to pay 50% for Options but I'm afraid that I will pay now and if for some reason the purchase of the house will not fall through I will loose all the money that I paid towards the Options.
Will they refund me in this case?
I am buying a house with Taylor Wimpey.
I have mortgage offer and Authority to Proceed.
Waiting for solicitors to confirm exchange of contracts.
Sales Executive of Taylor Wimpey is pushing me to pay 50% for Options but I'm afraid that I will pay now and if for some reason the purchase of the house will not fall through I will loose all the money that I paid towards the Options.
Will they refund me in this case?
0
Comments
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Absolutely don't do this unless you can either afford to lose the money, or you have it in very clear written terms that they will refund you the cost in full if you don't proceed with the purchase.0
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I've been in this situation, although not with wimpey, and they didn't refund. They might not let you have options though, if you won't pay part up front.0
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Where is the build up to? A friend reached the point in the build where she was told she had to pay for the options otherwise they won’t be ordered and they won’t be put in. Not sure how serious they were about that. On the one hand I’ve heard developers overcharge on their extras by a lot but on the other if it’s going to slow down the build and final completion they might be prepared to forego the extras. She hadn’t exchanged yet and pulled out a bit after because of contact problems so hard to say.0
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I do not want to loose the money.
I will see if they can state the they will refund if the purchase won't fall through.0 -
The house will have a roof on in couple of weeks and Taylor Wimpey says that is the deadline but they already want the 50% payment for Options end of this week.
We got the Authority to Proceed from Help to buy and only waiting for Taylor Wimpey to issue the contacts.
We also have a mortgage offer.
I'm not sure how long until exchange...0 -
If you are awaiting the contracts from TW - has your solicitor requested searches as yet?0
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why don't you ask them? get the answer in writing so they can't pretend they said something else.0
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