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Buying a house when the vendor is buying a new build
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Is this still a buyer’s market, or has it changed again?No reliance should be placed on the above! Absolutely none, do you hear?0
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My SIL bought off plan and had to leave a deposit ( £2k?), but apart from that contracts were not exchanged until a completion date was fixed. There was quite a long delay but the exchange of contracts down the chain did not happen until a completion date was fixed . So clearly not all developers insist on exchange before the house is built, and probably the ones that do will have some flexibility.
On the other side, even without this issue, she nearly lost her buyer due to the delays.1 -
We bought a new build and used The new home group, but the 28 days was to secure a buyer for our house. Once they were satisfied the offer was proceeding the purchase just carried on as normal. They checked in occasionally to check it was on track, mortgage in place etc. We started purchasing the new build in September and exchanged in March.0
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How long between finding a buyer and completion? I hope I'm not waiting 6 months 😭 they keep saying it's due to be ready in February but I don't know if I believe themkrusty101 said:We bought a new build and used The new home group, but the 28 days was to secure a buyer for our house. Once they were satisfied the offer was proceeding the purchase just carried on as normal. They checked in occasionally to check it was on track, mortgage in place etc. We started purchasing the new build in September and exchanged in March.0
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