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Delay in getting a contract

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  • 25-11-2021 8:16pm
    #1
    Wingman2010
    Registered Users Posts: 416 ✭✭


    So I paid a €5k deposit for a new build last April. Despite numerous emails from the estate agent which looked like group emails saying the contracts should be out within two weeks; I’m still waiting for it. I see the same houses are advertised for €25k more expensive now on line. My fear is they will try to increase the price for the house I’ve agreed to buy.

    I think they could be trying to frustrate the few people who agreed to buy in April so they pull out as they will get €25k/30k more now with how €5k market is gone. I’m in no major rush, but I just want to sign the contract ASAP for the price I agree to but the house for. The previous delay was due to outstanding paperwork from Homebound and some issues with Irish water but I understand all this should be sorted now.

    Just to say; the estate agent hasn’t said they’re going to try to put up the price and I could be worrying over nothing. I’d love to hear has anyone else encountered anything similar with getting a contact 7/8 months after paying a deposit for a new build.



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    #2
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    What does your solicitor say



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    #3
    Wingman2010
    Registered Users Posts: 416 ✭✭Wingman2010


    https://www.boards.ie/discussion/comment/118222898#Comment_118222898

    They have left several messages with the vendors solicitor but they haven’t responded to them yet. I followed up yesterday (Wednesday) with my solicitor and I’ll follow up again next Wednesday. I called the estate agent yesterday and he said he is been chased by others also. I understand 11 people are in a similar position who paid a deposit in April. He also asked that I get my solicitor to keep following up with the developers solicitors as it’s out of his hands.



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    #4
    Wingman2010
    Registered Users Posts: 416 ✭✭Wingman2010


    Update on this, the contract has finally been issued and house price is €15k higher than what I agreed to pay in April. Absolutely sickening as I’ve been chasing the contract since I paid my booking deposit last April. I guess there is nothing I can do, but try and agree some compromise.



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    #5
    ellinguistico
    Registered Users Posts: 305 ✭✭ellinguistico


    Jesus, that's terrible. Are you going to go ahead with the purchase? That's a significant amount of money. Who is the developer btw? I'm waiting on contracts from vendor for weeks now after paying a €5k deposit in September and my solicitor did notice something in the contracts sent to her about the right to raise the price. That's such a **** practice I'd never heard of.



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    #6
    Wingman2010
    Registered Users Posts: 416 ✭✭Wingman2010


    Yes it’s a right sicker and I never heard of it before. My €5k booking deposit did say ‘subject to contract’ so I guess that can do it. It’s a new development in the midlands. Unfortunately I feared this would happen. I tried to negotiate but I didn’t get anywhere. I’m going ahead with it as the house prices are not going down and I’m back to square 1 if I pull out!



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    #7
    okidoki987
    Registered Users Posts: 10,618 ✭✭✭✭okidoki987


    https://www.boards.ie/discussion/comment/118260573#Comment_118260573

    No lose for the builder, he either gets the original price you paid if house prices go down or he increases the price up if house prices rise.

    Shouldn't be allowed as it's all in favour of the builder.



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    #8
    Pawwed Rig
    Moderators, Category Moderators, Home & Garden Moderators, Recreation & Hobbies Moderators, Social & Fun Moderators Posts: 22,305 CMod ✭✭✭✭Pawwed Rig


    It is a crap situation for you OP but to play devil's advocate here building costs have skyrocketed this year. I know it doesn't help you here but as you say if you don't buy you will be back to square 1 and the next house might be more expensive again.



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