Average completion delays
- Thread starter Thorn
- Start date
We bought in february 05 and there is still no sign of a completion notice until after the builders hols. I think they real problem is the lack or flase information given by developers when purchasing the house, the promise the moon & the stars but once they have your money they wont tell you anything.
Thorn said:
The time between putting the deposit on to the date of actually moving is not a delay unless you were promised immediate occupancy.
I put my deposit down & signed contracts in February 05 and closed in January 06, however the scheduled completion was December 05 so only 1 month delay (or 11 months total time from deposit to completion if you want to look at the total time not just delays).
Oilean Beag
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We put deposit down last August (05) for completion in January 06. We are still waiting on our keys, 7 months later. Really hoping this will be the first week in September (06) That equals 9 months extra on top of what we were told when the builder got xx thousand from us and our name on the dotted line.
The really difficult thing about the whole process was that information was NEVER forthcoming from the sales agents or builders. It was literally once a month hound them with calls until someone finally admits to you, 'yes your house won't be ready for another 2/3 months, instead of 2 weeks from now as was previously thought'.
Unfortunately, this attitude seems to be prevalent in Ireland today, we have the cash of a extremely successful nation, but the efficiency of one positively archaic........ Grab the cash & run
The really difficult thing about the whole process was that information was NEVER forthcoming from the sales agents or builders. It was literally once a month hound them with calls until someone finally admits to you, 'yes your house won't be ready for another 2/3 months, instead of 2 weeks from now as was previously thought'.
Unfortunately, this attitude seems to be prevalent in Ireland today, we have the cash of a extremely successful nation, but the efficiency of one positively archaic........ Grab the cash & run
CelloPoint
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SNB said:We put deposit down last August (05) for completion in January 06. We are still waiting on our keys, 7 months later. Really hoping this will be the first week in September (06) That equals 9 months extra on top of what we were told when the builder got xx thousand from us and our name on the dotted line.
The really difficult thing about the whole process was that information was NEVER forthcoming from the sales agents or builders. It was literally once a month hound them with calls until someone finally admits to you, 'yes your house won't be ready for another 2/3 months, instead of 2 weeks from now as was previously thought'.
Unfortunately, this attitude seems to be prevalent in Ireland today, we have the cash of a extremely successful nation, but the efficiency of one positively archaic........ Grab the cash & run
The reason there are 'delays' is because the builders want to minimise the risk for themselves as much as possible - i.e. get the marketing office up and running, put up some hoarding and stick a few cement mixers on site and say they'll be ready in 3 months. This way they get the money in the bank prior to them risking huge amounts of money on construction. The longer talks of an imminent pop go on, the greater the risk, the more lies are made up about completion times, the longer buyers are left in the lurch. Buyers are at the bottom of the food chain I'm afraid.
If you are trying to find out how long your place is going to be, why not go and ask the builders on the site?
The estate agent I've dealt with is telling me Oct this year is when my apartment will be ready but the foreman on the site says Jan/Feb/March 07 - I'd believe the builders over an agent that wants to keep your sale going ahead, at least you'll know what to expect then.
The estate agent I've dealt with is telling me Oct this year is when my apartment will be ready but the foreman on the site says Jan/Feb/March 07 - I'd believe the builders over an agent that wants to keep your sale going ahead, at least you'll know what to expect then.
No comeback and no enforcement in place to ensure completion dates to the purchaser are kept. The developer does have comeback to his builder if the developers actual completion dates are notr met so it is the poor purchaser at the bottom of the food chain who basically finances their own build.
CelloPoint said:
While I agree the delays many people experience are unacceptable I don't necessarily agree this is the main reason for the delay. The 10% maximum that most people will have paid as a deposit would not even cover the cost of the land let alone upfront construction costs. The sooner the house is built the sooner the developer gets the balance of his money and can repay his financing.