I would love to just walk away from my €30k deposit but the solicitor says they will sue me for the difference between market value and the contract price.
Must admit the contracts are so unbelieveable in favour of the developers in this country!
My own solicitor advised me that the standard 'law society' contract was extremely biased towards the builder, but there was really no other option - the only option was not to buy.If this is the case why do punters sign them? They are not forced to sign these contracts with a gun to their heads and they all should have taken advice from their own solicitor.
This is an issue the law society should have examined. These contracts are seemingly too biased towards the builder. I don't believe purchasers should sign contracts for something to purchase years hence when the banks may pull mortgage approval. I know there is buyer beware but this is not good enough in these circumstances when it is such a substantial purchase and people seemingly do not really know what they are getting into.My own solicitor advised me that the standard 'law society' contract was extremely biased towards the builder, but there was really no other option - the only option was not to buy.
I still think the apartment is a good long term investment
Yes, not a good situation. Another option is/was to buy second hand. At least you see what you're getting, warts and all. With a bit of luck the area is a little mature so you can see what the neighbourhood is like, what facilities are available, and who your neighbours are!My own solicitor advised me that the standard 'law society' contract was extremely biased towards the builder, but there was really no other option - the only option was not to buy.
mf1;767650 Its called people taking responsiblity for their own actions. mf[/quote said:Yes of course, but you must agree things were just a wee bit too much in favour of builders. If the 'standard contract' did not allow anyone to sign without 100% mortgage guarantees then what would the builders have done. I know you'll say the builders would have gone to someone who would but if the Law Society stood up and said this is wrong/too far in the builders favour then the power of the Legal Profession would have been able to prevent this situation and would have made the builder back down. Amazingly I've never met anyone who didn't sign a contract because they were made aware that if they didn't have a job in 3 years time when the house would be completed that the bank would refuse to give them a mortgage. I don't think anyone should sign these contracts wherein the builder can delay seemingly forever and the purchaser has little or no rights of enforcement and meantime circumstances change for the purchase. Fair enough if it's a cash buyer. MF1 do you not think these contracts were unfair on would be purchasers in any sense ?
OP I'm sorry if I'm going off topic but you are not the first on here trying to get out of a contract and I'm trying to understand how come there are so many of you.
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?
We use cookies and similar technologies for the following purposes:
Do you accept cookies and these technologies?