Final Contract Price & PC Sum

J

jfitzer

Registered User
Messages
86
Hope someone can help on this. If a PC amount is being claimed by the purchaser, should the final contract price be amended to reflect this. For example, original Contract Price €300,000, PC sum of €5000 for tiling & Fireplace, purchaser decides to sort their own tiling and fireplace therefore takes the deduction, is the final contract amended to show contract price of €295,000 or does the contract price stay at €300,000 but only €295,000 changes hands?? Or is it dependant on which way the solicitor does the paperwork?
 
I asked my solitor about this, we are waiting for our house to be finished. She gave us the impression that the contract amount would be amended, but surely that would involve a whole new set of contracts and resigning?

Seems to me that a reduction in the total price when it comes to balance signing is an easier way to go.
 
I would have thought it would have to be amended too and I would also be under the impression that the solicitors would have all the info prior to the final contract as the clients would have told them that they were not taking the fireplace, etc. Generally, if the purchaser did not want the fireplace he would not be telling them on the final day as if he was it would already be in and they would have to take it out. Its a weird one thought, not sure if there is actually a right or wrong in this. But amending contract price should be a simple task I would have thought as they are probable just word documents on the computer. Even altering by hand and signing may do. I just have been told one thing from one person and the opposit from another. Thanks for asking your solicitor, much appreciated.
 
we had a contract price and then say had additions for extra work done and we also had allowances for (kitchen,ware etc) that we didn't use so they were just taken off, we had a stage payment and basically when we were closing we got a balance from the builder and paid what was owed.
 
John, did your final contract show the original contract price or did it show the amended amount after the deductions had been made. Not sure what you meant in your last sentance, did you pay the full amount and afterwards receive a refund cheque from the builder.
 
The original Contract can be varied for completion by agreement between the parties by an open exchange of letters - so developers solicitor can confirm lower amount ( and reason why) due on closing. Its normal to do a completion statement anyway - showing actual amount due. If its wrong it can be varied - as above.

mf
 
You must log in or register to reply here.
Back
Top