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rantnrave

Unbuilt House Reduced In Price

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Has just been reduced to 99K - and it hasn't even been built yet!

I would be wary of placing a deposit on something which isn't there! :blink:

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I would be wary of placing a deposit on something which isn't there! :blink:

I've personally known people shafted by buying off plan.

Builders over 12 months late completing (in fact never did complete) etc. And then the deposit was lost because the buyer pulled out in frustration. Incredible. But then only construction / builders can get away with it.

You've really got to watch the contract.

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Energy Efficiency Rating

A full copy of the Energy Performance Certificate is available from our office.

How? If you haven't built it how can it get a certificate? They could change loads of stuff before then surely?

Services

The agents have not tested the appliances listed in the particulars.

Really, that surprises me. I thought they might magically teleport into the future and test them for me. I guess I was hoping for too much.

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I've personally known people shafted by buying off plan.

Builders over 12 months late completing (in fact never did complete) etc. And then the deposit was lost because the buyer pulled out in frustration. Incredible. But then only construction / builders can get away with it.

You've really got to watch the contract.

In too many instances the offplan buyers shafted themselves through buying without understanding the risks. Signing to buy and becoming contractually bound before property built. Buying at over inflated prices. Buying without understandng there can be substantial delays in a build being finished. Buying without knowing the final spec can differ somewhat from original plans. Buying without worrying where they'd get the money to complete with. Buying without learning they can be sued for more than the deposit if they pull out.

Even contracts which have rights for buyer to rescind due to non compliance with obligations can be full of problems. Lots of scope for keeping the offplan buyer locked into contract if the contractual obligation is not absolute, but just a reasonable or best endeavours provision. If you don't know what you're doing, don't understand all of the risks, then don't buy offplan. Otherwise don't complain if it goes wrong with your offplan property buying happy dreams.

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  • 338 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



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