Hi All,
Has anyone had any experience pulling out of a settlement due to the developer not meeting his contractual obligations? I would be interested to learn how it panned out. I am currently in dispute (have not settled yet) on 2 apartments.
A couple of years ago I signed up to purchase 2 off the plan units. The development went overtime, but I didnt think that this would be a huge issue though.
What became an issue though was the changes the builder made to the property to the detriment of its value.
Compared to what was in the architectural drawings and plans the units are smaller (43m2 compared to 51m2 and 46m2 compared with 53m2), and finished to the cheapest possible quality finish.
The above deviations are unacceptable and upon consulting legal advise, constitute a significant deviation and breach of contract.
It was a very deliberate and conscious decision to purchase property above 50m2 given the difficulties arranging finance for properties under this size. It changes the entire financing that has been approved on the assumption that the properties are at least 50m2.
In addition to the above, I would also like to note that the quality of the work and finish of the apartments and common areas is sub-standard. The cheap quality of the finish and the defects does not in any way represent the way in which the apartment was marketed as a "luxury apartment".
Notable issues with the apartments are:
Common Areas:
I would be interested to learn if people have been successfull in getting their deposits back and getting out of settlement.
Has anyone had any experience pulling out of a settlement due to the developer not meeting his contractual obligations? I would be interested to learn how it panned out. I am currently in dispute (have not settled yet) on 2 apartments.
A couple of years ago I signed up to purchase 2 off the plan units. The development went overtime, but I didnt think that this would be a huge issue though.
What became an issue though was the changes the builder made to the property to the detriment of its value.
Compared to what was in the architectural drawings and plans the units are smaller (43m2 compared to 51m2 and 46m2 compared with 53m2), and finished to the cheapest possible quality finish.
The above deviations are unacceptable and upon consulting legal advise, constitute a significant deviation and breach of contract.
It was a very deliberate and conscious decision to purchase property above 50m2 given the difficulties arranging finance for properties under this size. It changes the entire financing that has been approved on the assumption that the properties are at least 50m2.
In addition to the above, I would also like to note that the quality of the work and finish of the apartments and common areas is sub-standard. The cheap quality of the finish and the defects does not in any way represent the way in which the apartment was marketed as a "luxury apartment".
Notable issues with the apartments are:
- Paint cracked and peeling off window frames
- Swollen an cracked frames around sliding door to balcony
- Cigarette burns on carpet
- Broken and incomplete tiles on Balcony
- Grouting not complete to wet areas and balcony
- Poor quality locks to entrance doors
- Plasterwork and painting incomplete as well as damaged walls at the entrance area
- Carpet in main living area has been patched together using off cuts and the grains are facing different directions
- Missing transparent wall in one of the bedrooms in order to let natural light in
Common Areas:
- Tiling damaged and incomplete in common areas
- External finish and materials used substantially different from plans
- Damaged render on external walls
- Garage left unfinished and in poor state - Walls are soil covered and damp
- Hallway walls are painted concrete and not plasterboard over concrete as specified.
- Driveway is unfinished
- Landscaping is unfinished.
I would be interested to learn if people have been successfull in getting their deposits back and getting out of settlement.
