Vendors &Estate Agent did not tell me about major works granted to next door?

Cuticuraser

I should add that I paid a £250 reservation fee to the estate agent. If I decide to pull out because of above reasons, do I have sufficient grounds to get a refund?

user1977

Cuticuraser said:

I should add that I paid a £250 reservation fee to the estate agent. If I decide to pull out because of above reasons, do I have sufficient grounds to get a refund?

Why on earth did you pay it in the first place? It's not normal. What conditions were attached to it?

TheJP

Cuticuraser said:

I should add that I paid a £250 reservation fee to the estate agent. If I decide to pull out because of above reasons, do I have sufficient grounds to get a refund?

Did you read the terms and conditions? Why did you need to pay a reservation fee? Probably not eligible for a refund if you pull out.

MysteryMe

I can't see how the demolition and construction of 2 semi detached houses by a property developer and presumably professional builders is going to take 18 months, even allowing for the fact the site needs clearing beforehand, 12 months is stretching it, they are in the business of getting projects completed as soon as possible to realise their investment. Is there a reason why it is projected to take so long?

Also, it's the demolition, ground work and waste removal that will require heavy plant and resultant noise / potential disruption, not the whole build. You are not going to get 12 to 18 months worth of disruption, I wouldn't mind betting that once the foundations are down the most annoyance will be them having these big power bank radios on full blast but then again you might share the same taste in music.

HelpfulLittleHelper

Good luck in trying to WFH when all of that is going on though, I wouldn't be too happy with it

theartfullodger

user1977 said:

Cuticuraser said:

I should add that I paid a £250 reservation fee to the estate agent. If I decide to pull out because of above reasons, do I have sufficient grounds to get a refund?

Why on earth did you pay it in the first place? It's not normal. What conditions were attached to it?

I've done so several times in the past to show good intentions, hopefully get agent slightly on my side.  (Money having changed hands think agent probably owes you then a duty of care). Don't ever recall conditions documented but may be wrong.

Never had a problem getting funds back either if pulling out or eventually purchasing.

However I don't trust agents further than I can throw them, and I've a back back.

Regards all.

user1977

theartfullodger said:

user1977 said:

Cuticuraser said:

I should add that I paid a £250 reservation fee to the estate agent. If I decide to pull out because of above reasons, do I have sufficient grounds to get a refund?

Why on earth did you pay it in the first place? It's not normal. What conditions were attached to it?

I've done so several times in the past to show good intentions, hopefully get agent slightly on my side.  

Have you tried asking the seller for a similar deposit to show their good intentions...?

Cuticuraser

Major update

I wrote a letter to the EA about three points:-

• next door developement - noise pollution
• additional SDLT for second homes from the Autum Budget annoucement
• defective gates

and wanting to re-negotiate on the sale price.

The EA responded back with the following:-

• they had no knowledge of the next door developement and neither did the vendors. 
• It is my fault as I took time to do due diligence on the property (i.e. i did a drainage survey as my RICS survey said that might be an issue) and had we exhcanged earlier I would not have the pay the additional tax. I think this is nonsense as we would ahve never exchanged by the 31st oct as I had only recieved the local planning permission searches from my solicitor in mid october!
• gates are my problem and I can get an engineer to get a quote. fair enough

Vendors are firm on their price and unwilling to negotiate

I paid a deposit and the reservation fee T&Cs states:

Received the sum of two thousand pounds (£2,000.00) being a holding deposit in respect of the reservation of the above property subject to contract. If this reservation is cancelled by the vendor, the holding deposit will be returned to the purchaser in full. If the purchaser withdraws or cancels due to vacant possession not being givenupon completion, an adverse survey, decline of mortgage offer, issues with the title or any other legal issues that

cannot be resolved, the holding deposit will be returned in full. If the purchaser withdraws from the purchase for any other reason at any time,or fails tomeet the exchange date,the reservation deposit will be forfeitedand split between the owner and the estate agent for administration costs. If contracts are exchanged the holding deposit will be deducted from the exchange monies given by the purchaser to his /her solicitors on exchange of contracts.


My decision is that I want to pull out but they have my deposit which I think I should get back. Solicitor did their assesssment and adverse findings on next door neighbour. Also, I cannot afford to pay the additional SDLT now, it will take me several months to save up for this. What are my options?

Cuticuraser

responses and advice would be much appreciated

BonaDea

My buyers got their searches back on 15th October and we exchanged on 30th October.  I'm not sure why you believe receiving the searches in mid-October would have made it impossible to exchange before the 31st.