Browse Forums General Discussion 1 Oct 10, 2015 9:29 am Just read these stories here. How this is legal is beyond me - how the developer can go slow to have the contract rescinded, so they can capitalise on the increase in market values, at the expense of first home buyers, is disgusting. http://www.theguardian.com/australia-ne ... ue-doubles http://www.news.com.au/finance/real-est ... 7562065008 Re: Sydney developer wins right to void 37 first-home buyers 2Oct 10, 2015 9:56 am Hi acethekite Have you ever read a unit developers "Buy Off The Plan Contact" Some are over 300 pages? IMO,I'd say the average Punter doesn't stand a chance in court! Thanks for sharing the article Designer,Engineer (Civil,Const & Envir),Builder,Concrete & Masonry Contract.Struct Repairs Re: Sydney developer wins right to void 37 first-home buyers 3Oct 10, 2015 11:56 am There is so much regulation on banks and if a fraction of it is applied to housing industry it will make a big difference to average buyers. 23/06/2014 - Paid deposit 21/07/2014 - ordered the survey and tender 13/08/2014 - soils test sample taken 14/08/2014 - survey done today 30/08/2014 - Pre-color consultant aptmnt Re: Sydney developer wins right to void 37 first-home buyers 4Oct 10, 2015 1:30 pm vivmak There is so much regulation on banks and if a fraction of it is applied to housing industry it will make a big difference to average buyers. No-one would be able to afford houses if the cost of bank regulation was factored in. Policing and compliance would make it very expensive and companies would simply fold. Even in commercial construction, new constructions are often set up as separate companies to ring fence construction risk. I agree there has to be more protection for the end user but once a company declares bankruptcy there is not a whole lot that can be done....... I think we will always be the price taker unfortunately. Re: Sydney developer wins right to void 37 first-home buyers 5Oct 10, 2015 3:15 pm I mean atleast some person skin should be in the game, I have not experienced it so much have heard of builders taking money as advance and stretching the job to an extent one just gets exhausted chasing them, if there was a personal bond or some sorts then it might improve and example of deliberate slowing down work as in original post will not happen if the directors of the company are made personally responsible. 23/06/2014 - Paid deposit 21/07/2014 - ordered the survey and tender 13/08/2014 - soils test sample taken 14/08/2014 - survey done today 30/08/2014 - Pre-color consultant aptmnt Re: Sydney developer wins right to void 37 first-home buyers 6Oct 10, 2015 4:36 pm Well then it should be more like the commercial side of building where performance bonds are needed. The issue is I think that the building industry is always funded by the home owner via the bank. The bank does not release money unless the work is done. IIRC in commercial building the building company must provide performance bonds over the work that also include liquidated damages. Stages are verified by QS before funds are released. You still have issues with buildings but this all has a cost attached to it. I agree there does need to be some liability that doesn't allow people to hide behind a corporate structure. Not sure if that works? I was told the issue is the headspace clearance requirement on step 4. My builder is proposing shifting the beam 310mm towards the kitchen...I'm… 2 1321 To me, that's what it looks like: poor backfilling and/or compaction. The width is about 1000mm maybe. That conduit in the photo is for the NBN. The water is about… 4 2131 I'm putting a new floor in my kitchen, slate flagging on a standard concrete slab. I have allowed for a bed thickness of up to 20mm to accommodate the different… 0 15134 |