Chain about to collapse

AdrianC

SnooksNJ wrote: »

It's funny how the OP's buyers are getting a pass

"Getting a pass"?

The OP's collapsed their chain, too, with his inability to understand the concept of a calendar.

...and they were the ones who created all of this.
If it were me I would demand £2500 from the buyers for hiring cr*ppy lawyers who made you miss the Sept deadline.

Hold on... We still don't know - despite asking - what the delay actually was.

toniq

Op it is now October, I'm saying that incase you have confused the months.


September is over.

GDB2222

Along with several others, I'm confused why the OP feels hard done by?

Thrugelmir

SnooksNJ wrote: »

It's funny how the OP's buyers are getting a pass and they were the ones who created all of this.

Of course they get a pass. As it's not their problem.

ThePants999

hazyjo wrote: »

Did you include any upgrades, etc? You may find you're still liable for those costs.

The OP isn't buying a new build. They're buying an "old" house that a developer bought from another customer of theirs in part-exchange.

hazyjo

ThePants999 wrote: »

The OP isn't buying a new build. They're buying an "old" house that a developer bought from another customer of theirs in part-exchange.

Blimey, I think I'd better spend this weekend sleeping :facepalm:

Kad_Williams

As crudely as it may seem that everyone on here is behaving I can't help but broadly agree with the thrust of their responses. It definitely seems like a deliberate act of brinkmanship to wait until you're about the exchange to announce that you will not be 'honouring' a promise you made as the seller. But it is similarly problematic to take that incentive and expect to keep it when you as purchaser don't honour your own side of the bargain. Removing the incentive after your purchase was delayed (counter to the terms of the incentive i.e. complete by september) just brings you back to being even. They tried to hold you to a timescale using money... it didn't work so they're taking it back. The timing is unfortunate and a bitter pill to swallow considering how close you were to exchanging but I would have probably considered doing a similar thing in their position if and only if I wanted to get that money back. I wouldn't have withdrawn the offer of an allowance as soon you crossed the deadline (i.e. 1st of October). I would've made sure I knew that you were actually ready, willing and able to buy the property before doing so, knowing that crossing that deadline made you seem like a less credible buyer and wanting to avoid scaring you off unnecessarily.

It's really just business, I guess. Nothing to get stressed about. Not as much underhanded as smart, I think.

SnooksNJ

AdrianC wrote: »

"Getting a pass"?

The OP's collapsed their chain, too, with his inability to understand the concept of a calendar.


Hold on... We still don't know - despite asking - what the delay actually was.

Let me rephrase. The OP is putting the entire blame on the builders when it was their buyers who started this by demanding the deduction in the first place.
Anyways it's now all moot. The reality is the OP really didn't want the house and was looking for a way out.

AdrianC

SnooksNJ wrote: »

Let me rephrase. The OP is putting the entire blame on the builders when it was their buyers who started this by demanding the deduction in the first place.

ncfcfan wrote: »

We had to reduce the selling price of our house to £229k from £235k due to a devaluation.

Might as well blame their lender's valuer...

Anyways it's now all moot. The reality is the OP really didn't want the house and was looking for a way out.

It's a possibility, but they're doing an awful lot of protesting for that situation.

fezster

Wow. A lot of vitriol towards OP. I love how some people on here seem to be implying that OP was bound by a contract to adhere to the September deadline. This isn't a new build and nothing is agreed until exchange. OP is perfectly entitled to walk away for any reason they choose.

On the point of the £5k discount. It is the developer's prerogative to withdraw the discount if the deadline is not met. Equally, though, it is the buyer's prerogative to withdraw from the purchase if said discount is not granted. Neither is right or wrong. Both have their own point of view. It's actually quite ridiculous how some people on here are pinning the blame on the OP, especially given OP said this:

We needed to a cheaper price on the house because our buyers had undercut us. Instead, via email, they offered us a £5k incentive via email from them saying they would providing we completed in September. I replied saying we would do our best to complete for then, but we wouldn't be able to proceed if this wasn't honoured as we had a shortfall to make up.

So not only is OP not able to proceed without the £5k discount, but they communicated this to the developer at the time. The developer has decided to withdraw the £5k discount (as is their right), but seemingly cutting their nose to spite their face - if they have to remarket and wait another 3-4 months before they sell, the costs incurred will far outweigh proceeding with OP.

To blame OP for not proceeding when they cannot afford to, is quite frankly ludicrous. And AdrianC, your persistence on blaming OP really does read (to the casual observer) as someone with a vested interest. Probably isn't the case, but tone it down a bit.