Help! BDWH Part Ex

[Cameron1590]

We agreed with Barratt David Wilson Homes (BDWH) to do a part exchange "extra".

We signed the sales agreement which stipulated that BDWH would market our property at £275k for six weeks. If no buyer was secured in six weeks, then they would become our guaranteed buyer at £260k.

Any sale agreed in the first six weeks above the part ex price of £260k would be given back to us as if the transaction was a traditional sale. (Subject to EA fees of £3k).

Unfortunately, one Estate agent has put the property online today at £270k. We have spoken to someone at BDWH who are "looking into what went wrong" and said they would "get the price amended to reflect the price in the agreement (£275k)" however we are concerned that if the property does sell in the next six weeks, there is a potential for people to have seen the property at the lower price and make a lower offer as a result.


Surely BDWH have broken some form of consumer code or regulation here? I am not really sure what legislation to look at in order to bolster my argument for compensation.

Any help would be appreciated.

Thanks,

Malty

[New Home Expert]

Why not contact the agent yourself and get the price set to £275k?
In the current market you can expect offers of over 10% less than any stated price.
You would be very unlikely to get a viewing let alone any offer in 6 weeks too.
BDWH guaranteed offer price is good, saves you Estate Agent fees and means you don't have the hassle of last minute cancelled sales, delayed Exchange of Contracts etc.

In a nutshell, it is a silly mistake, probably not even of BDWH making.

Be sure to have your new home professionally snagged and inspected before you legally complete as I have a feeling that you will not be entirely happy.