Land Registration? Kellyville - Balmoral Road Release

Garden view court developer was bankrupt before and bought by another “sister” company in order to force previous land purchaser rescind the contract. Then this new developer resell the land at much higher price.

Hi guys we just had a reply from the developers law firm (frank law) stating that they anticipate registration of the subdivisions will take place November/December 2018.

How confident are they ? We have been seeing those emails since May onwards...fingers crossed and hope for the best !!!

I will find out, but I agree I have no confidence in the reply.

December is not a good option; It should be in either November (very little chance) or early next year?

Instead of just a single line reply, they should have provided with more details about the delay...there could be genuine reasons for the delay but communicating would have been a better option.

Sunset date was last Dec. I have been seeing the same reply since last year Nov. I have zero confidence in their reply at all. Sales agent is also not responding either, they are sick of that as well because they can’t get their commission.

Are there any legal consequences we can pressure them with? I mean how much longer will this be allowed to continue?

I asked my solicitor and it seems forever. It’s up to them.

I am hoping someone can tell me otherwise.

Hi guys we have been away for 2 weeks is there any change at the block ie: trees installed or grass seeds laid? Does anyone believe it will be registered this side of Xmas ? Or ever ??
Do you think he is trying everything in his power to not sell them to us now it’s under Bella Vista and he can get more for it? I know my solicitor said he can’t do that.

I'm not sure if the developer is intentionally trying to do that.. But after the sunset clause kicks in, you guys are free to exit the contract and get your deposit back.. So can the developer by paying you your deposit (and any other monies if stated in the contract)..

I know from my solicitor that many have done that in the past to get more current market value.. Not saying this is what acquire is doing, but it could be worth pursuing extension of the contract beyond the sunset in written to assure they will not just get up and leave..

sunset clause extract from one of the lawyer firms and appears that developer cannot just exit the contract without our consent.

"In NSW, however, legislation changes which took effect on 2 November 2015 mean that a developer wishing to exit the contract using a sunset clause needs to notify the purchaser and provide reasons for their decision. A purchaser would then need to agree before the developer can be released from the contract. If the purchaser does not agree, then the developer would need to apply to the Supreme Court to seek an order allowing them to exit the contract. This legislation also applies to contracts entered into before 2 November 2015 but which have not settled or been completed"

This is good then.. Considering this is a recent change to the law must be on the back of developers doing the run through the property boom..

I bet he's having trouble financing the bit to completion..

I drive past every day and nothing has happened in the last few weeks

Either he is having trouble financing or may not be a priority due to other big developments he might be focusssing on...

After sunset date, you can walk away but not developer. Unless they become bankrupt. That’s what happened to Gardenview.

I am not clear. Are we going to really lose the lands if the developer wants to exit the contract?

They can’t exit the contract. But if they bankrupt it’s another story I think.

Got some info that the delay is due to Child Care centre received objections from the neighbourhood with petitions submitted to council. And its owned by the developer so obviously he would be working hard to get it done before the whole DA is registered. However, the latest news is that its been approved now and we would hope for a council submission soon....fingers crossed...