Am i allowed to sell my own house???

LionKing

Hi,

I have recently bought a new house.

Is it true that some developers set a clause that does not allow you to sell your new house within a specific time period of you completing??

Thanks

telly-addict

There are restrictive covenants set by developers that cover things like not changing the front door colour for 3 years, or removing any trees that they had planted, which we had, but I haven't heard of a sales time limit. You need to look through the copy of your Title Deeds that your solicitor should have given you.

jonesMUFCforever

telly-addict wrote:

There are restrictive covenants set by developers that cover things like not changing the front door colour for 3 years, or removing any trees that they had planted, which we had, but I haven't heard of a sales time limit. You need to look through the copy of your Title Deeds that your solicitor should have given you.

Not heard of this either but I suppose to a developer it does not look good if someone wants to sell a property before the development is finished. It would certainly make me suspicious even if there is an innocent answer to the question.
It might also effect the prices of the remaining houses to sell.
Eric

garysletters

As above, i would make sure that the purchase is wothwhile. sounds like a way of avoiding buyers finding a "true" market value. If developer knows hes overcharging, he can hide the fact if no property come on the open market until hes sold the last one!

Check it out with an agent.
is an agent involved in the sale between you and the builder??
If so, ask a different agent.

nrsql

Sounds unlikely. I can't see a lender granting a mortgage under those conditions.

terrierlady

never heard of this time limit on sale, but they can impose other items as stated above ref Landscape planting door colour etc.
often a visible spay line is included within front garden size meaning that one cant plant anything etc within the area defined.

jockettuk

we have a new estate being built on land behind our village it has taken 3 yrs and is still not finished will have a few thousand houses on it.. when people buy these houses then as more houses are built they want to move either within the estate or elsewere. one couple i know moved within six months as when they looked at the house it had lovely views but once other houses built views went..