Hello! We've finally found a lovely house to buy but the people who own the property that our sellers are buying are moving into a new build. The new build is due to be ready by November but I've heard terrible stories about delays with new builds, sometimes up to a year. The estate agent we're buying through reckons it really will be available from Nov and the people at the top of the chain have already completed on it (though have heard this makes no difference). What are your experiences with new builds and move in dates?
Our buyers are willing to wait until November but are keen to exchange soon. I'm presuming a November move-in date will be added to the contract. But what if the new build isn't ready? I've heard it's the people at the top of the chain who will be pressured to then move out and rent unless they wish to incur penalty charges? We don't want to rent so whatever happens, we won't be moving until the house we're buying is empty.
November is a long way off. It could be worth you pushing for the people at the top of the chain to move out to rented while they wait for their new build. Being in a chain with new build at the top must be a nightmare!
In your favour, they are likely to be pushed to exchange contracts ASAP on purchase of their new build (if anything like our experience!) - in order to do that the chain needs to be complete to the bottom, with contracts exchanged all on same day - so if the only way they can do it is by getting out into rented, they may realise they have to do that!
Hi- I was told I would be in my new build house by Christmas. Initial move in date 9/12/13 was pushed back to 15/12/13 so very very close. I think it helped that house was not bought off plan the outer shell wiring plumbing and roof was done when we bought so had a pretty accurate time line
I had a fixed completion date of 24th June. That's when I was in.
Do you know which company it is? It's more than likely end of Decrmber will either be their interim or year end so they will be trying to deal with LOADS of completions to hit financial targets and may be optimistic about their dates .... Id talk to your EA and if the vendors want you to wait till Nov get them to force the builders to give them a fixed completion date.