Stamp Duty paid by builder

turners2106

We are in the same position, our builder has offered 50% of the original value as a 'gifted deposit' and pretty much tried to make us feel grateful for that. As with other comments I believe this is a cash lump sum payable on legal completion which they are obligated to honour, as its been offered and written on the reservation form etc ? We have refused the initial offer and actually our solicitor agrees this appears a tad unethical from the builder. It feels like an attempt by the builder to cash in on the SDLT holiday at our expense. Not sure where we stand legally or whether we can hold the builder in breach of contract with material loss if we back out now ?

ChloeHanlon22

Update: our builder has today agreed that they will still honour our £11,250 as a cash incentive, although they did try to give turf and flooring at first. 

It may be worth mentioning we have not yet exchanged contracts so would have been easy for us to pull out of the sale, maybe that influenced them. Although I didn’t even have to say that, I just simply said well our agreement is the same no? And they ‘got back to me’. 

I genuinely feel for everyone in this situation, worse things have happened, but an agreement is an agreement in my opinion, anything else is greedy on the builders part. 

MrLogical

So we now have Bellway and Redrow agreeing to honour their promise which is fantastic. Any other developers we can add to the list which will help people with these discussions?

yvmilne

Bovis not helpful so far...

MrLogical

yvmilne said:

Bovis not helpful so far...

I imagine they will be taking a decision across the company on how to approach this and that can take time to filter down to the sales assistants. That’s why we’ve had people say they are told they won’t get it, then they will. The lawyers obviously look through the contracts and tell them they don’t have a leg to stand on. They then pass that onto sales who tell you you will get the cash making it seem like a uturn. Some are trying their best to offer alternatives to cash and if that works for you then go for it. Personally, I wouldn’t. We need all the cash we can get given the !!!!!! storm coming our way!

biscotti

We are with Bellway, I emailed our solicitor to ask for advice but they said they are still waiting for more information from the developer and they will update us. I will chase our solicitor next week. Fingers crossed for all of us. 

turners2106

Linden (part of Bovis) are offering 50%

MrLogical

turners2106 said:

Linden (part of Bovis) are offering 50%

That’s hilarious. You should laugh at them and demand 100% as per your agreement and nothing less. Thinking further about this. It’s an admission that they should be paying you, but trying to pay you less. That’s the way I’d see it. Not the, we don’t have to but here’s some cash as a sign of good faith which is what I’m sure they’ve told you. It’s really not on.

SharkMoney

Bloor are pulling 100% of the incentive. They will not offer anything as an alternative. 

MrLogical

SharkMoney said:

Bloor are pulling 100% of the incentive. They will not offer anything as an alternative. 

If you read this thread, you will see you are not the first person to say something like this, but the same people have then posted back to say they will be getting it. You need to keep pushing them and make sure your solicitor is doing his/her job. Tell them other developers are now offering 100%.