samanthajane
Registered User
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I am very sure, our last option is the court route, we served comp notice and everything, also offered them to keep our 15k deposit but nada. Its an abolsute disgrace to think they can get away with this, and your right there is no way I would live on a building site
But you wanted to give them the 15k not so long ago just to get out of the contract.
That may very well happen, so you have what you wanted to be done with everything.
I'm not saying it's right to lose your money that you worked hard for, but you are better off. It's either that or be made to buy a property way over valued.
Would you really want to go ahead with the purchase of the place, just to keep 15k??
The fact that the property market rises or falls is only a distraction
.
I'm sorry but this is a huge part of why people wanted to get out the contracts!! For what ever reasons. Some didn't want to be in negative equity, some couldn't get the mortgage anymore ect ect
If house prices had gone up 100k i would bet that every one would be looking for that amount in compensation.
Samantha Jane. I am aware of what I have said, but this was all borne out of frustration. Furhtermore how could I be made buy a property that a: doesnt exist and b: would be way over completion period
Do you not also think that by getting away with this, carte blanche is been given to builders to swindle people out of their hard earned cash in the future !!
I completely disagree with you here as we were buying a home and the propertys were still valued at the purchase price in dec 07 when they were supposed to be completed and even still some months afterwards. We would have loved to move into our apartment when it was supposed to be ready , but why on earth should anyone be made to wait several years . The problems with this development have been going on since the start of this development due to poor project management and not to do with economic downturn
Samantha -
Yes I do admit that the issue of negative equity is why I want out of these contracts - I am not pretending otherwise.
But you have just cut this quote out from the middle of my earlier posting. With my earlier post one of the points that I was trying to make is the actual validity of the contracts that were offered / put in place in front of buyers.
The Homebond Certification expires after 24 months it now seems - But the contracts offered had Completion Periods of 30 months with Homebond protection mentioned in these contracts.
So there has to be something wrong with this does there not?
That is what I am bringing to attention here - the issue of negative equity and property bubbles is this context is a distraction. I apologise if this is hijacking this thread - it should no doubt in the the Ask About Law section - but initially I was just replying to Brendan.
Samantha -
Yes I do admit that the issue of negative equity is why I want out of these contracts - I am not pretending otherwise.
But you have just cut this quote out from the middle of my earlier posting. With my earlier post one of the points that I was trying to make is the actual validity of the contracts that were offered / put in place in front of buyers.
The Homebond Certification expires after 24 months it now seems - But the contracts offered had Completion Periods of 30 months with Homebond protection mentioned in these contracts.
So there has to be something wrong with this does there not?
That is what I am bringing to attention here - the issue of negative equity and property bubbles is this context is a distraction. I apologise if this is hijacking this thread - it should no doubt in the the Ask About Law section - but initially I was just replying to Brendan.
...These people would not be able to hold anyone to these contracts as they have been blatantly breached by exceeding times by 18 months in some cases
At time of signing contracts our SOlicitor told us everything was above board , juts the normal bog standard contract.
Makes sense..but who would complete the houses? Most of them are still a long way off being finished? Would it be viable to another contractor to take these on and sell them at current market value? If another contractor could take these on i would of thought they would have to pay for work done so far. If there was a profit to be made out of it then wouldn't it be said that laragan had a chance of survival, at least untill this project was finished. Highly doubt any further business would come his way after what has happened.
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