1. Reservation Eligibility
Prices are set at a highly competitive rate. Norfolk Homes (The Company) will only accept a reservation and instruct its solicitor to draft a contract when there is a reasonable likelihood of you proceeding to an unconditional exchange of contracts by a mutually agreed date.
2. Re-Offering the Property
Should you fail to reach an unconditional exchange of contracts by the agreed date, The Company reserves the right to re-offer the property to another buyer at an updated price. Prior to this, we will contact you to assess your current situation. The final decision rests solely with The Company.
3. Reservation Fee
Upon agreeing to purchase a dwelling, a reservation fee of £750 is required. This fee is held in a Client’s Account by an appointed agent.
4. Fee Refund Policy
The £750 reservation fee secures the current listed price of the dwelling. The fee is fully refundable within the first 14 days should you be unable to proceed. After this period, the fee is retained by The Company to cover administrative and legal costs.
5. Contractual Deposit
An additional 10% (or another mutually agreed sum) is due upon the unconditional exchange of contracts. The initial £750 reservation fee will be incorporated into this deposit.
6. Completion Date Guidelines
The completion date provided at the time of agreement is an estimate and may change. Actual completion dates are determined on a first-come, first-served basis after the unconditional exchange of contracts. Prompt contract exchange is advised to avoid delays.
7. Completion of Under-Construction Dwellings
For dwellings still under construction, the legal completion date will be set 14 days after The Company’s solicitor notifies your solicitor that the dwelling is complete unless a fixed date has been agreed upon.
8. Pre-Completion Inspection
You will be invited to inspect the property with The Company’s Site Manager between seven and fourteen days prior to legal completion. A final check will be conducted on the day of legal completion, during which meter readings will be taken, and you will receive a comprehensive information pack.
9. Data Sharing with Warranty Provider
By agreeing to these terms, you consent to your details being shared with our warranty provider for the sole purpose of participating in a National New Homes Survey to be conducted nine months after completion.
Adhering to these terms and conditions means you are taking a significant step towards securing your dream home. Thank you for choosing Norfolk Homes.