The prices have been set at an extremely competitive level, accordingly Norfolk Homes (The Company) will not accept a reservation nor instruct their solicitor to issue a draft contract until there is a reasonable prospect of you being able to proceed to an unconditional exchange of contracts by an agreed date.
If you are unable to proceed to an unconditional exchange of contracts by the agreed date, The Company reserves the right to re-offer the property at an amended price to any other buyer who is able to proceed to contract, but before doing so would contact you to ascertain your current position. The decision either to hold the property for you or to proceed with another buyer will be entirely at the discretion of The Company.
Having agreed to buy a dwelling, a reservation fee of £750 must be paid at that time, (in the case of ‘Help to Buy’ the reservation fee is £500) which is held by an appointed agent in a Client’s Account.
The reservation fee of £750 (£500) holds the price of the dwelling as shown on the price list current at the date you agree to buy. £250 (£150) of this reservation fee is refundable if you are unable to proceed for any reason. £500 (£350) is retained by The Company to contribute towards abortive legal and administrative costs.
A further sum of 10% (or other suitable sum to be agreed) is payable upon unconditional exchange of contracts. (The £750 (£500) reservation fee becomes part of your deposit upon exchange of contracts.)
The completion date quoted at the time you agree to buy is only intended to be a guide and is subject to change until contracts have been exchanged, as actual completion dates are fixed on a first come first served basis following unconditional exchange of contracts. Accordingly, it is essential to exchange contracts as soon as possible to minimise the risk of completion being delayed.
When contracts are exchanged on dwellings under construction, the legal completion date will be 14 days after The Company’s solicitor has notified your solicitor that the dwelling is complete, unless your solicitor has agreed a fixed date for completion.
Between seven and two days prior to legal completion you will be asked to inspect the property together with The Company’s Site Manager. You will then be asked to make a final check of the property with The Company’s Sales Office Manager or Site Manager on legal completion/ handover. Meter readings will be taken and noted, an explanation of where stopcocks are located and a demonstration of how fixtures, fittings and equipment work will be given. A comprehensive pack of advice, information and guarantees will be given to you.
You agree to your details being passed to the NHBC solely for the purposes of participation in a National New Homes Survey nine months following completion.