Hi all,
I'm considering buying a unit in a development where the developer is in receivership and there is a list of development-wide snags not yet done. The Owners Management Company (OMC), receiver and NAMA (!) are in discussion over who will finish what etc. The OMC are fairly good and the development is well run from what I've seen with ok finances. The surveyor also didn't find any issues with the unit and the block its in is also fine.
Is this a serious issue or would this be a common issue for many multi-unit developments ins Dublin? Anybody else have this issue buying or selling and how did your solicitors get around it. All input much appreciated!
Thanks in advance.
I'm considering buying a unit in a development where the developer is in receivership and there is a list of development-wide snags not yet done. The Owners Management Company (OMC), receiver and NAMA (!) are in discussion over who will finish what etc. The OMC are fairly good and the development is well run from what I've seen with ok finances. The surveyor also didn't find any issues with the unit and the block its in is also fine.
Is this a serious issue or would this be a common issue for many multi-unit developments ins Dublin? Anybody else have this issue buying or selling and how did your solicitors get around it. All input much appreciated!
Thanks in advance.