We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
PLEASE READ BEFORE POSTING: Hello Forumites! In order to help keep the Forum a useful, safe and friendly place for our users, discussions around non-MoneySaving matters are not permitted per the Forum rules. While we understand that mentioning house prices may sometimes be relevant to a user's specific MoneySaving situation, we ask that you please avoid veering into broad, general debates about the market, the economy and politics, as these can unfortunately lead to abusive or hateful behaviour. Threads that are found to have derailed into wider discussions may be removed. Users who repeatedly disregard this may have their Forum account banned. Please also avoid posting personally identifiable information, including links to your own online property listing which may reveal your address. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Discrepancy after closing - New build
CCMay
Posts: 1 Newbie
Hello,
2 weeks ago we signed for our new build property. Everything went through fine but then we received an email from our solicitor this week saying that there had been a mistake with the closing figures. Long story short, a discount was added at closing which had apparently already been applied to the cost of upgrades.
2 weeks ago we signed for our new build property. Everything went through fine but then we received an email from our solicitor this week saying that there had been a mistake with the closing figures. Long story short, a discount was added at closing which had apparently already been applied to the cost of upgrades.
Neither solicitors noticed the issue at completion but now the builder is asking us the pay the sum. Unfortunately, we took the solicitors word and assumed the figures were correct and budgeted what we needed after the sale based on those figures. In other words, we do not have the amount they are asking for.
Has anyone ever experienced anything like this? Where do we stand? As it wasn’t noticed at the time of closing, are we obliged to pay now that we own the property?
Has anyone ever experienced anything like this? Where do we stand? As it wasn’t noticed at the time of closing, are we obliged to pay now that we own the property?
Any help appreciated, thanks
0
Comments
-
I assume you've asked your solicitors the same question - do they think you are obliged to pay?
Are we talking £100s, £1000s, tens of £1000s? ie. how likely are the vendors likely to chase for the money.0 -
Presumably the mistake was on the completion statement and the contract you signed had the correct figures so you haven't yet paid in full rather than a dispute over how much you were meant to pay? If so then yes you have to pay.0
-
If it's merely an arithmetical error than yes, it can be corrected. If you overpaid I'm sure you would expect the money back, wouldn't you?0
-
If it is an error you will be expected to pay unless you can show that you thought the price was correct or possibly that you wouldn't have bought the extras if you had known the correct price.
That said, a mistake has occurred that wasn't your fault. I would expect an agreed schedule of payments to enable you to repay over a set time period. I'd ask for monthly payments over a year.I'm a Forum Ambassador on the housing, mortgages & student money saving boards. I volunteer to help get your forum questions answered and keep the forum running smoothly. Forum Ambassadors are not moderators and don't read every post. If you spot an illegal or inappropriate post then please report it to forumteam@moneysavingexpert.com (it's not part of my role to deal with this). Any views are mine and not the official line of MoneySavingExpert.com.1 -
Surely if the error is on your builders side or even your builders solicitor that is their issue.
It is interesting that you say the builder is asking you to pay the sum. It sort of makes me think this is an error completely on their side.
Have you asked your solicitor for their advice?0
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 352.3K Banking & Borrowing
- 253.6K Reduce Debt & Boost Income
- 454.3K Spending & Discounts
- 245.3K Work, Benefits & Business
- 601.1K Mortgages, Homes & Bills
- 177.6K Life & Family
- 259.2K Travel & Transport
- 1.5M Hobbies & Leisure
- 16K Discuss & Feedback
- 37.7K Read-Only Boards