You know what the answer is going to be!
Whats in the contract, what advices have their own solicitors given them, is this anything to do with the down turn in the property market and the feeling that what they have agreed to pay is more than the property may be worth on completion, have they agreed to the extension of time, are there mitigating factors, etc.,etc.
mf
So what has their solicitor advised?
What does the contract say?
So if you were never given a contract, how did it get signed?
Solicitor has mentioned arbitration but group does not know the costs or whether they can afford this option. Surely a contract has to protect both parties and not just the ones with all the money(builders)
I believe it is widely recognised that the standard building contract used in Ireland certainly favours the builder and not the purchaser.
I would have expected a solicitor to have informed you of your right and obligations and potential risks under the contract.
Was this a solicitor provided by the developer by any chance? If so, you need to go find another one (of your own). If not, go back and ask them some challenging questions, like:
Do you think it your repsonsibility to inform your client of any important obligations, or waivers of rights contained within a contract?
I would have expected a solicitor to have informed you of your right and obligations and potential risks under the contract.
For what it is worth my experience with solicitors and conveyancing has been poor to say the least - I have bought three new build houses and one new build apartment over the last ten years and have used four different solicitors firms - two were big name Dublin firms, who charged big name fees and two were local, and recommended, firms who charged less. In hindsight, for none of the purchases did I feel that the solicitor properly explained all of my possible obligations and risks.
Also, three of the four solicitors were unwilling to even consider any changes I requested to the wording of the standard building contract - the standard response was "lookit, it's the same for everyone - nobody else ever complained".
I accept your point to a certain extent but ultimately were there any difficulties?
Is this true? Is it because clients or solicitors don't push hard enough? Is it because it has been a seller's market for a long time? Was it always this way?It is virtually impossible to get changes to the standard terms accepted
Like what? You mean some sort of additions to the main body of the contract?though special conditions are often put into the contract for sale.
Is this true? Is it because clients or solicitors don't push hard enough? Is it because it has been a seller's market for a long time? Was it always this way?
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