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  1. Perp

    OTP Developer Dirty Tricks - the 'sunset clause' game

    If they're ethical and acting in good faith, then they shouldn't. If they do, then at least - if you decide to proceed - you enter the contract knowing that you've only signed up for a "hope", and have no cause to complain when the contract you've signed saying "please shaft me", results in...
  2. Perp

    OTP Developer Dirty Tricks - the 'sunset clause' game

    It's the buyer's solicitor's job to ensure that their client knows what they're signing up for, and, if it's too one-sided, suggesting amendments to better protect their client's interests.
  3. Perp

    OTP Developer Dirty Tricks - the 'sunset clause' game

    The developer? Depends what your clause says. I imagine that if you sought legal advice from a competent property lawyer, they'd have dealt with this many times before and know precisely how best to protect one's interests when buying OTP. At a guess, it might involve laying out the anticipated...
  4. Perp

    OTP Developer Dirty Tricks - the 'sunset clause' game

    No, sunset clauses are not all equal. If it doesn't have a tight "best endeavours" clause - requiring the developer to take all practical steps to achieve registration, for example - then a lawyer would recommend that the clause be amended. Either the developer would agree to tightening of...
  5. Perp

    OTP Developer Dirty Tricks - the 'sunset clause' game

    My lawyer would strongly discourage me from signing it, at least without pretty strong "best endeavours" clauses and other protections. At the very least, he would have told me of the risks in a rising market, and if I signed, I'd be knowingly taking that risk and have no grounds to complain...
  6. Perp

    OTP Developer Dirty Tricks - the 'sunset clause' game

    OK, I'll be the cold one: who the hell signs contracts worth hundreds of $K without getting legal advice first? :confused:
  7. Perp

    OTP Developer Dirty Tricks - the 'sunset clause' game

    What does his lawyer say? Does his contract have one of these clauses? Does it contain a "best endeavours" clause, requiring the builder to take all reasonable steps to complete in a timely manner?
  8. Perp

    OTP Developer Dirty Tricks - the 'sunset clause' game

    Will be very interesting to observe.
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