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Aston Lawyer
Aston Lawyer, Solicitor
Category: Property Law
Satisfied Customers: 10635
Experience:  LLB(HONS) 23 years of experience in dealing with Conveyancing and Property Law
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I signed documents purchase of 2 flats (£177,000 &

Customer Question

I signed documents for the purchase of 2 flats (£177,000 & 179,000) on Saturday 20th Feb 2016. I didn't pay the £1000 per property fee (totally £2000) there and then but said I would pay at the latest Monday AM. Since then I changed my mind and do not wish to go ahead with the purchase. Would consumers rights be eligible in this case?
Submitted: 1 year ago.
Category: Property Law
Expert:  Aston Lawyer replied 1 year ago.
Hi,Could you please give me a little more information- are they 2 new build flats?What paperwork did you actually sign?What are you worried about losing?I look forward to hearing from you.Al
Customer: replied 1 year ago.
Could you please give me a little more information- are they 2 new build flats? - YES
What paperwork did you actually sign? - Their contract documents which will be sent in the post, i think.
What are you worried about losing? - £2000
Customer: replied 1 year ago.
Hello you still there?
Expert:  Aston Lawyer replied 1 year ago.
Thanks for your reply.Well, although there is no "cooling off period", all Developers have to comply with the Consumer Code for Home Builders, which came into play in 2010. Under this Code,it clearly states "The Reservation fee must be reimbursed if the Reservation agreement is cancelled. TheHome Buyer must be told of any deductions that may be made"So, if you have gone ahead and paid the £2,000 this morning, you should ask for it back. Please note, however, that if the reservation agreement you signed says that the Developer is entitled to retain a portion of this fee if you do not proceed, to cover their admin, then they are entitled to keep this sum. On this point, if I were you, I would argue that they have done very little admin since you reserved on Saturday, and therefore try and get the full fees back.If, of course, you have not paid the £2,000, please certainly don't hand any money over now, and just tell the Developer that you are not proceeding.I hope this assists and sets out the legal position to you. Kind RegardsAl
Customer: replied 1 year ago.
Thanks Al. I've not paid the £2000 but worry that they may use legal might to tear the money from my pockets. Do I need to advise them in advance that I do not wish to continue with this deal and which law am I protected by in this matter?
Expert:  Aston Lawyer replied 1 year ago.
Hi,Please please don't pay them a penny. Just tell them that you have changed your mind and that will be the end of the matter!Kind RegardsAl
Expert:  Aston Lawyer replied 1 year ago.
(Forgot to say- you are protected by the above mentioned Code, and they can't legally ask you for the £2,000).
Customer: replied 1 year ago.
Thanks again Al.
Expert:  Aston Lawyer replied 1 year ago.
No worries!If I have helped, I would be grateful if you could rate my answer.Best WishesAl
Expert:  Aston Lawyer replied 1 year ago.
Hi,I would be grateful if you could rate my Answer, if I have answered your question.CheersAl
Expert:  Aston Lawyer replied 1 year ago.
Hi,Can I assist you any further?Kind RegardsAl