New Development Building Agreement - Contract Price

ReddererMist · 2023-09-04 18:57:25

Hi All, Buying in a new development, Phase 1. When I spoke to EA originally they gave me price of X. I have loan offer and have had valuation my solicitor received the Building agreement and the contract price stated in it is €20k less…. Am I missing something really obvious? I’ve worked up VAT calculations etc but can’t…

04-09-2023 06:57PM

#1

ReddererMist

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Join Date: April 2012

Posts: 6

Hi All,
Buying in a new development, Phase 1. When I spoke to EA originally they gave me price of X. I have loan offer and have had valuation
my solicitor received the Building agreement and the contract price stated in it is €20k less….
Am I missing something really obvious? I’ve worked up VAT calculations etc but can’t reconcile the two numbers
Questioning this with solicitor but in the meantime, if anyone has a reality check for me before I get excited about a unicorn house with a unicorn contract!!
Thanks

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Comments

#2 06-09-2023 05:54PM

Galwayhurl

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Join Date: July 2020

Posts: 268

Think the balance is in relation to the land.

I.e. Pay x amount for buildings and y amount for the land it's situated on.

Similar in our contracts. We're also buying new build.

Your solicitor should surely know this.

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