Booking deposit

Argo123

Hi All,


I need some advice -we have paid a booking deposit towards our house a new development. we paid 5,000 the value of the property was 240,000 . All documents from the builders solicitor were slow and we only received them this week and our solicitor now has some questions and wants some clarifications. Therefore we cant sign the contract yet, But I just noticed on daft yesterday that the price of the house has gone up, can they now charge us more for the house - it is in a development , so they may mean other houses. but I am worried that our booking deposit doesn't count towards the house as it is fully refundable, can they say no to us and ask us to pay more now?
thanks

GavMan

I would imagine it would depend on what the price is listed at in the contract

Eldarion

The €5000 booking deposit isn't % based, it's just €5000. The % will come into play when you need to make up the 8% or 10% down payment for the banks. The €5000 comes off this % based figure. The % figure will of course be based off the agreed selling price, whatever that ends up being.

Hope that makes sense.

D3PO

if you haven't signed contracts they are entitled to change the price at any time they want just like a private seller would be entitled to.

Id suggest they wont but depends on how sought after the properties are. Builders and morals don't often go together unfortunately.

Bigcheeze

It's unlikely they'd increase the sale agreed price. I wouldn't worry about it.

Argo123

thanks I am hoping they wont change the price : (