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New Build Prices dropped where do i stand

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  • New Build Prices dropped where do i stand

    Hi I am looking for any advice really, 3 weeks a go i viewed a new development and all the same type of properties were the same price, i chose one and paid £250 to get the paperwork started.
    Today the rest of the homes not sold have been reduced by £5-£6,000.
    So my home is no longer worth what i am paying.
    Can i legally speak to the developer as we have not yet exchanged, about reducing my price too
    mant thanks
    maisie

  • #2
    Re: New Build Prices dropped where do i stand

    It's not so much that the house would no longer carry that value, merely that the developer is looking to sell cheaper than originally intended.

    However, when you say you paid to get the paper work started, what did you actually agree to? Have you actually signed a contract?

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    • #3
      Re: New Build Prices dropped where do i stand

      Thanks for your reply it has all been sorted now

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      • #4
        Re: New Build Prices dropped where do i stand

        Did you get the property cheaper, then?

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        • #5
          Re: New Build Prices dropped where do i stand

          Ok, its good you got it resolved in time. But I still want to know if you were able to negotiate the price.
          Guaranteed Rent Scheme |Estate agents Canary Wharf

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          • #6
            Re: New Build Prices dropped where do i stand

            Yes i spoke to the estate agent and she called back to say they would match the lower price , the development is not all sold though and the prices will probably be lowered further but i don't think the developer will be reducing the homes already reserved again plus we are hoping to exchange any day

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