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Pulling out of New build home
Fifeman_2
Posts: 1 Newbie
Thinking of pulling out of new bryant house as my home isnt selling. we have signed
the missives and paid £8500 deposit. Have been told if we pull out we will lose
the £8500 which is bad enough but we also have to pay for the RESALE of house.
Does anyone know what this means? or have any experience of this. Any help would be apppreciated
the missives and paid £8500 deposit. Have been told if we pull out we will lose
the £8500 which is bad enough but we also have to pay for the RESALE of house.
Does anyone know what this means? or have any experience of this. Any help would be apppreciated
0
Comments
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Thinking of pulling out of new bryant house as my home isnt selling. we have signed
the missives and paid £8500 deposit. Have been told if we pull out we will lose
the £8500 which is bad enough but we also have to pay for the RESALE of house.
Does anyone know what this means? or have any experience of this. Any help would be apppreciated
Not sure what it means with Bryants but when I was in New Build we charged, to re-sell, when someone wanted to pull out out after exchanging contracts. We normally let people off in extenuating circumstamces: death, serious accident or serious illness but where borderline we would charge the then equivement of an EA's commission rate. Then it would of been 2 % + Vat.A retired senior partner, in own agency, with 40 years experience in property sales & new build. In latter part of career specialising in commercial - mostly business sales.0 -
You're about the 3rd here this week with this question.
Can't you just drop the price of your home to sell it?
How low can you go?
It's likely that pulling out of the new build might ultimately cost you more than dropping the price on your house.
As you're in Scotland, is it possible to put it up for a fixed price to try to stimulate interest?0 -
Someone suggested on a similar thread to get a good Contracts Lawyer to check out the contract you are in. I think this is a great idea and the savings you could make will be well worth the outlay.0
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Is the contract assignable? can you put it on the market and sell it as a middleman without getting lumbered with a stamp duty liability? If so you may wish to consider this, even if you take a small hit, otherwise you could be liable for substantial damages if you don't complete.0
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