After all Fund transfer, told no Zurich Guarantee

[jslnc]

Hi

I wanted to buy an apartment at bristol city centre. Brand new redevelopment. Many plots have been sold in last year and this years!!!

I was told by the agent there is a 10 years structure guarantee. And there is a Zurich logo on the information I got from the agent and development webpages as well.

My solicitor said everything is ready and I can get the key on last friday if all the funds are ready on last thursday.

All the funds ( mortgage advance + down payment + all the solicitor fees) were transfer on the morning of last thursday.


During around 3 o'clock last thursday,

my solicitor email me :
''We have received the mortgage advance and your funds.

We have just received the enclosed message from the Seller’s solicitors. We will update you when we hear further.''

Attached email from the seller's solicitors :
''
I have been advised by the Administrators that there may be an issue with the validity of the Zurich guarantees for the flats remaining unsold after the Administrators appointment. I have a conference call booked for 3.00 this afternoon with the Administrators and will update you following the call.''

One day after, my solicitor email me as below:
''I am still waiting for the Seller’s solicitors to confirm with me about the guarantee offered by Zurich for the newly converted building. It is similar to the ten year cover by NHBC and the buyer must have it.

I have forwarded to you the email from the Seller’s solicitors yesterday. It was only in the last minute the Seller’s solicitors informed us of this. I am now waiting for his return call.

I will update you later today.''


Can anyone tell me what to do?

Thank you~~~

[zednine]

Originally Posted by jslnc

Hi

I wanted to buy an apartment at bristol city centre. Brand new redevelopment. Many plots have been sold in last year and this years!!!

I was told by the agent there is a 10 years structure guarantee. And there is a Zurich logo on the information I got from the agent and development webpages as well.

My solicitor said everything is ready and I can get the key on last friday if all the funds are ready on last thursday.

All the funds ( mortgage advance + down payment + all the solicitor fees) were transfer on the morning of last thursday.


During around 3 o'clock last thursday,

my solicitor email me :
''We have received the mortgage advance and your funds.

We have just received the enclosed message from the Seller’s solicitors. We will update you when we hear further.''

Attached email from the seller's solicitors :
''
I have been advised by the Administrators that there may be an issue with the validity of the Zurich guarantees for the flats remaining unsold after the Administrators appointment. I have a conference call booked for 3.00 this afternoon with the Administrators and will update you following the call.''

One day after, my solicitor email me as below:
''I am still waiting for the Seller’s solicitors to confirm with me about the guarantee offered by Zurich for the newly converted building. It is similar to the ten year cover by NHBC and the buyer must have it.

I have forwarded to you the email from the Seller’s solicitors yesterday. It was only in the last minute the Seller’s solicitors informed us of this. I am now waiting for his return call.

I will update you later today.''


Can anyone tell me what to do?

Thank you~~~

yes dont buy it.....