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Loft Conversions
Quote revision - options
In September 2021, we contracted for a dormer loft conversion based on a quotation received and paid a deposit in line with that quotation. The company advised that the work would take place around June 2022 and we accepted this. We have today (June) contacted the loft conversion company to find out when work would take place (as we had received no communication since they came to do a survey for drawings several months ago). They advised we were looking at a July/August start date and then mentioned that due to material prices increasing significantly they would have to send a revised quote. We questioned this but they have since sent though the quote with a substantial increase. We now feel stuck in a very difficult position of either accepting the revised quote or having to cancel the project entirely (and possibly lose a deposit, albeit small values in the context of the overall price). I don’t think the company are being particularly ‘shady’ (they come well recommended) and accept prices have increased, but the communication on this has been poor (were they just going to turn up and ask for more money at that point?) and contractually we accepted and paid a deposit based on the previous quotation at that time, so wondered if the original accepted quote has to be honoured and whether there are any other options available to us. Had material prices fallen in that time, we wouldn’t have received a decreased revised quotation, so it feels like an unfair move and makes me question whether they can be trusted not to do similar when work actually starts.
Any advice greatly appreciated.
6 Answers from MyBuilder Loft Conversion Specialists
Best Answer
The price of materials has increased by between 85 - 150% over the last year. They would be doing the job at a cost to them if they honoured the original estimate. If there was no contract signed then they don’t have to honour the quote.
You should get a few estimates now from other people and see where their quote come in line with the new ones and go from there
Answered 24th Jun 2022
I would contact them again and explain that deposit that was paid for quotation of old amount and would like to have deposit returned. After all, deposit was paid for work quoted at certain price. Do not give up
Answered 24th Jun 2022
首先我很抱歉听到这个不专业and unfair situation. In my opinion you should not paid an increase unless stated in contract between you and the company, you had paid a deposit to an agreeable price which should guarantee so unless this was discussed at the time of agreement verbally or in writing to on increase in price base on materials inflation, If that is not the case. through no fault of you own I think you’re entitle to a full refund if the construction company can not carry out the work to the agreeable quotation. best thing to do is to seek legal advice as to what action you can take.
All the best.
Answered 24th Jun 2022
If you paid a deposit, it was paid as a contract on the original price, if the contractor can't fulfil the contract at the original price they have to refund your deposit
Answered 24th Jun 2022
The materials are really expensive right now,
But the company have to stick on their quote and do the job,Since the got the deposit already.
Answered 24th Jun 2022
A quote is legally binding and you should stand your ground with the company.
Verbal or written you have paid a deposit, so unfortunately for the company they have to honour there quote or refund the deposit or you meet them in the middle financially if you wish them to complete the contract with you.
Answered 24th Jun 2022
