"Sale Agreed" rubbish - a warning to intended buyers

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mathepac

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Intended buyers in this development have incurred additional costs apart from deposits (surveys, legal costs, extra building costs) and they have now been gazumped. Builders, developers, EAs, Councils they don't care about you; you have no rights until you have a signed contract in your hands.

I keep posting that nothing is agreed until it is all agreed and signed by all parties. Some posters have issue with my opinion - here's recent evidence to support my contention.

http://www.thejournal.ie/finglas-an-riasc-2503050-Dec2015/
 
That sounds dreadful Mathepac. I hope the affected bidders get their deposits back plus interest and costs.
 
mathepac said:
Builders, developers, EAs, Councils they don't care about you; you have no rights until you have a signed contract in your hands.
Click to expand...

Hi mathepac

It works both ways. In fact, I would guess that more buyers pull out that sellers.

This is a very odd story. I do feel sorry for those who had paid deposits.

"One buyer told TheJournal.ie that buyers have been left with a fight on their hands to get their deposits back and have their legal fees and personal purchases for the house paid for."

They will have no fight to get their deposits back. They have no right to the other expenditure.

"He said a number of residents had already paid out on fittings for their new home, with one resident paying the builder for a new staircase."

That is just plain stupid, if it's true.

Brendan
 
In fairness Brendan, re your last point - I know of people who put deposits on houses bought off plans. And they then ask for particular finishes such as worktops, designs etc and agree a price with the Builder. I wouldn't have thought it unusual at all
 
Brendan,

even simple things like an outside tap, €50/80, are often agreed and paid for at this stage and the builder gets paid up front. Small beer maybe but buyers (like I did) don't want their new homes as building sites once they move in and get this done and dusted as early as possible.

My point always has been that this "Sale Agreed" rubbish bestows some mythical protection in the minds of buyers that does not exist in law, particularly in the minds of young, first-time buyers which it seems some of the disappointed parties are in the example I used.
 
Mathepac is 100% right until the contract is signed by both sides it's not worth the paper it's written on.

I would have thought the purchasers solicitor would not have paid over a "contract deposit" until the contract was signed by both sides.
 
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