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Why do people buy Persimmon / Barratt / New-built houses ?
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We are moving in with family between our sale and purchase (although they are 50 miles away from our current location).Octothorpe said:Can I ask those that have bought new builds, how does it work when you have to sell your house before you buy?
Most aren't built already so sold off plan many months earlier than completion.
Yet I read they want you to sign all paperwork for buying within 28 days or something...??
They usually say 28 days for exchange but I think that rarely happens unless you are buying with no chain and searches and offers are quick! We are nearly at exchange on our sale by the time our plot came up so hoping will be relatively smooth going but our local searches are 10 weeks so doubt will make 28 days!1 -
In theory you pay the deposit on exchange then have a long stop date in for completion which means if the house is not finished by the long stop date you can pull out and get your deposit back. The long stop date is as it implies a long time afterexchange. Of course this requires you to have the deposit sitting in the bank not relying on the sale of your current house. If that is the case you need to negotiate something with the developer. Suggest you start a new thread to avoid this getting lost in the which builder is worse argumentOctothorpe said:Can I ask those that have bought new builds, how does it work when you have to sell your house before you buy?
Most aren't built already so sold off plan many months earlier than completion.
Yet I read they want you to sign all paperwork for buying within 28 days or something...??
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It isn’t for status, looks nice and shiny when you buy it but after it’s just nothing but headache. It’s almost like they don’t think when they build them0
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We part exchanged our old house against the new one so didn't have any hassle with moving twice. From reservation to moving in was 3.5 weeks.Octothorpe said:Can I ask those that have bought new builds, how does it work when you have to sell your house before you buy?
Most aren't built already so sold off plan many months earlier than completion.
Yet I read they want you to sign all paperwork for buying within 28 days or something...??1
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