Unable to sell apartment

[schmoo71]

Along with the apt i have mentioned in my other post, i am trying to sell one in Tallinn, Estonia as the completion date is getting close and I know that i cannot get a good mortgage deal in Estonia so decided to sell.

But due to the fact that a shopping centre has appeared next to the development, no-one is interested. My agent in Tallinn has told me there has been no interest at all in it in 3 months, and the developer has only sold one on the whole plot in the past 4 months.

I was not told of this shopping centre when i was showed the land where the apt was going and it was never declared in any meeting i attended. BUt the agent said that they would have known about it as its been common knowledge over there for some time.

Again, is there any recourse to me getting the deposit back from this developer in light of this..? I feel they have mislead or being dishonest in not informing me of this shopping centre which has obviously affected their worth and rent-a-bility.

thank you

 

[Pushka]

Your legislation will be entirely different to ours in Australia, and even each state in Australia, maybe even each Council will differ. And shopping centres - well, they are allowed to put in shopping centres with appropriate approvals which can happen at any time. It is not the developers fault.

 

[Altitude]

Hi Schmoo71,

I know hindsight is 20/20, but was there any other way that you could have done your due diligence back then, before you signed on the dotted line?

A

 

[schmoo71]

no not really, i dont think i could have done anything differently. I guess having a friend or a contact in the country in question may have helped as they may have known about the shopping centre, but other than that, i cant think of anything,.

 

[crc_error]

isn't having a shopping center close by a good thing?

normally these type of developments increase the value of property.. but I supposed if your RIGHT next to it, there could be a problem

 

[skater]

Something you may not want to hear.

In order to sell it, reduce the price. The cheaper it is, the more people will want it.