Brendan Burgess
Founder
- Messages
- 52,178
I wonder would any of these purchasers be willing to complete even if the money was available?
I think that if the price had increased by 30% over the period this wouldnt be an issue
Of course nobody should have to wait that long. Many properties were sold off the plans during the boom. This was acceptable then as the value of the property was increasing. Investers were flipping properties. If this were still the case I doubt too many people would be compaining
I think that if the price had increased by 30% over the period this wouldnt be an issue
Of course nobody should have to wait that long. Many properties were sold off the plans during the boom. This was acceptable then as the value of the property was increasing. Investers were flipping properties. If this were still the case I doubt too many people would be compaining
Buyer being served is along way from being legally forced to complete. I'd rather be in the buyers situation than the developers, developers are just panicking and hoping some will complete under an idle threat.
I second that. Developers have very big problems.
Nothing they dont deserve IMO
Would it be fair to say ( all comments welcome) that most of the difficult cases have come through to this stage?
I've asked around lawyer colleagues and what I am hearing is that a lot of developers have either cut their losses and done deals or were fortunate enough to complete before it all hit the fan. Others have been left with property that may not shift but at least there is no disgruntled purchaser left hanging out.
Does anyone know what developers have actually issued proceedings against contractually bound purchasers? I know Laragan have - there is a list of summons on the courts.ie website. Who else has issued proceedings?
Have any purchasers actually issued proceedings to recover deposits where the completion date has passed?
mf
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