Developer dissolving company after each project

Ybe

Is this development massively inflated in price like most new builds? 

Ybe

My worry is not being able to sell it on in future. 

Ybe

user1977 said:

Ybe said:

eddddy said:

Ybe said:

Some of the plots in this development (which is built) don’t have planning permission yet. 

Are you saying that the developer is asking you to pay a deposit for house which isn't built yet, on a plot which doesn't have planning consent yet?

If so, that sounds very much like the high-risk off-plan schemes (often called investment schemes) that I describe - which I would strongly suggest you don't get involved with.


Or are you talking about a well-known, mainstream developer who is building a housing estate - in which case what makes you think they don't have planning consent?

Or are you talking about a well-known, mainstream developer who is building a housing estate - in which case what makes you think they don't have planning consent?

Some of the units don’t yet have planning permission. 

As far as I can make out from the planning history, only one ground floor unit has a pending planning application.

On quite a number of the other plots, what’s on the marketing floor plans don’t match what’s on the approved planning application plans. The differences are quite significant for some of the plots such as rooms being in different places and dimensions being significantly different. 

brianposter

It apparently has a 10 year building warranty. 5% deposit on exchange and reservation for 28 days. 

Who provides the building warranty ?

eddddy

Ybe said:

On quite a number of the other plots, what’s on the marketing floor plans don’t match what’s on the approved planning application plans. The differences are quite significant for some of the plots such as rooms being in different places and dimensions being significantly different. 

I feel I have to explain... (because it caused confusion further back up the thread)...

A 'plot' is a piece of ground. I think you mean 'flat' or 'Apartment'.



Perhaps you've heard the word 'plot' used in relation to a newbuild housing estate. In that case, a 'plot' is a piece of ground that a house is to be built on.


FWIW, here's a dictionary definition of 'plot':

a small piece of ground marked out for a purpose such as building or gardening.
"a vegetable plot"

user1977

eddddy said:

Ybe said:

On quite a number of the other plots, what’s on the marketing floor plans don’t match what’s on the approved planning application plans. The differences are quite significant for some of the plots such as rooms being in different places and dimensions being significantly different. 

A 'plot' is a piece of ground. I think you mean 'flat' or 'Apartment'.

Perhaps you've heard the word 'plot' used in relation to a newbuild housing estate. In that case, a 'plot' is a piece of ground that a house is to be built on.

It's pretty commonplace for each unit in a newbuild development to be called "plots" even if they are flats.

Random example here:

https://www.onthemarket.com/details/10681601/