Money-back pledge on prices

A MONEY-BACK guarantee if future prices drop any lower is a feature stitched into novel deals on an east Cork new homes development.

Up to 25% of the agreed and contracted purchase price will be refunded if any future sales are lower than the already low-set prices at the 80-house scheme Dealg Ban, in Ladysbridge, says David Hogan of Oakridge auctioneers.

The guarantee, in which money will be put into a legally-secured ‘escrow-type’ account and not released to the builder (for three years,) will help assuage fears any buyers might have that prices may fall further.