Apr 13, 2018 10:10 pm
Does anyone know if you put a deposit on apartment, the developer had the money funded by the bank to start the construction but instead he onsold it to another developer.
Apparently the new developer is going to build a different design and has asked the real estate agent to send me back my deposit. I have called the department of fair trade who can't even tell me what my rights are as the sunset clause date is finished in August 2018,
I have actually asked a few lawyers and not one has gotten back to me if I have a case as the price has gone up by approx $200,000.00. The law was changed in Nov 2016 and the developers now have to go to the Supreme Court and explain why they can be released from the contract, But no one can answer my question.
Can anyone help me or guide me to where I should go get legal advice,
Re: Put a deposit on a apartment of plan and the developer2
Apr 15, 2018 7:38 am
What you mean by "they are going to build a different design"?
Have they approved new design with the council?
Have they started building at all?
This is really quite tricky situation.
If I was your lawyer, I would have started with reviewing the contract and terms of sale between the developers, how legal was the sale deal (after pretty much pre-selling all the apartments) and especially what the new developer is committed to with regards to the old developer's client liabilities especially when it gets to honouring existing client's agreements. Those terms had to be specified somewhere on the contract of sale or on separate agreement between the developers.
My understanding that in order to commence the sale deal properly, the old developer had to ask all the clients to review and agree to the sales' agreement before commencing the sale and also new developer had to re-sign contracts with all the previous developer's clients.
If the lawyers find out that the deal was not addressing client interests' as required, filing a class action lawsuit against both developers will be a good place to start.
Re: Put a deposit on a apartment of plan and the developer3
May 03, 2018 4:22 am
Thank you for your reply for some reason I didn't get your notification it went to the junk mail.
To my knowledge no one was consulted, I just happened to find out because I kept calling the real estate agent who informed me of the sale of the property.
I received a letter from the original developer to ask me to rescind and I would not as the date is Aug 2018, I have already spent $5000.00 with a lawyer backwards and forwards and I have just been in a 3 year battle over another one case which I bought land from the developer / real estate agent and he wanted more money as it boomed in Kellyville and it cost me $70K, It was a class action and there was 7 of us. I can't afford to go back to court before Aug 2018 as I will need to pay lawyers again and I am not a high income earner.
I looked at my contract and the scan copy has a few pages on the bottom missing and I have asked my convanyancer to email them and I am waiting on them, I don't see anything in my contract that mentions about the land being onsold to another developer etc.
The fact that the original developer drew down on the loan from the CBA and didn't build is very suspicious as I know this to be a fact as their lawyer told my lawyer. They have not produced any written evidence even though we have asked as to why they stopped the build.
The real estate agent who sold the apartment to me also onsold the land to the new developer and he told me that the new purchaser was aware that there is 2 people still who have not agreed to rescind and they told him they will wait until the sunset date and do so then, I believe I have this written in a letter from the original developer's lawyer to mine. The real estate agent told me that the new purchaser is not going to build the original DA approved plans but change the entire design.
My lawyer did a flip around after I already spent $5000.00 and said he doesn't think I should waste my time as they never actually started the development and therefore I do not have a case. I disagree.
I am happy for you to call me if your a lawyer as I will be needed someone who is not going to waste my time and give me excuses lol
you can email me directly at email@example.com
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