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  • Deposit Protection

    Reservation Fee for Off plan investment

    Hi

    I am going someone can help. I purchased an investment which is off plan through an agent. However I was not aware of the risks with the investment until the contract came through. I also found some details about the company which was not good online.

    I spoke to the agent by email as my phone calls are ignored and he told me to speak with the developer as the deposit was paid directly to the developer. I spoke to the developer and although there is no legal binding contract in place refused to give me my deposit back. I really don’t know what to do and don’t want to be pressured going ahead with the investment.
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    Hello Sam666666,

    Can you message/email me with some more detail?  It depends who the developer is, but I may be able to help.  I wouldn't ask you to put more detail on here as that could hinder, rather than help!

    Best,

    Helen

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    Helen Godbold-Eade

    Freelance Administrator for Property Investors / Entrepreneurs

    http://www.like-clockwork.co.uk

    Find me on LinkedIn: http://www.linkedin.com/in/heleneade/

    Hi Sam666666,

    I am in a similar situation and could do with your help.
    Is this off plan investment located in Liverpool by any chance?

    --
    Many thanks,
    ​Amit.

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    Just for your interest,  I was one of those who bought off plan in 2003 in Nottingham.   Overpricing a bit is one thing, but as you say, the sale price today is still well below the 'price paid' in 2003.   So I am stuck with it.   I can't believe that this is not actually a crime?!  So I would avoid off plan unless doing research, you believe they are really a true representative value.

    I'm attaching a current house price link so you can see the values ...   it is 51 Hamilton Road that is the block in question ... 

    https://www.rightmove.co.uk/house-prices...geCriteria


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