My partner and I purchased an apartment from the Urban Edge development in Carnegie last September. After months of pestering the agent as to why the development hasn't started, and continuously being told that 'they have nothing to tell us and it should start soon' we finally found out that the property developer has fallen through and the vendor is trying to sell the development with the sales contracts.
Our 10% deposit/life savings has been stuck for almost 12 months now with no compensation, interest or information as to when construction will start. The agent we purchased from hasn't even had the decency to contact us and let us know what is going on, what they are doing about it or what we can expect. When they finally do respond to our enquiries, we are given empty promises and told to call back in a few weeks and they may have something more to tell us.
All research of the contract and our rights seems to lead to a dead end. The contract states the vendor has 5 years to complete the project. But a verbal agreement was made to us when we purchased that building would commence by December 2014 and most likely finish approx. 12 months later.
Do we have any rights? Is there any way to get our deposit back? We want out of the contract and to get as far away as possible from the horrible service we have received from the agents we purchased from.
If anyone has been in the same situation or has any information that may help us we would greatly appreciate it.
Thanks for your time
Our 10% deposit/life savings has been stuck for almost 12 months now with no compensation, interest or information as to when construction will start. The agent we purchased from hasn't even had the decency to contact us and let us know what is going on, what they are doing about it or what we can expect. When they finally do respond to our enquiries, we are given empty promises and told to call back in a few weeks and they may have something more to tell us.
All research of the contract and our rights seems to lead to a dead end. The contract states the vendor has 5 years to complete the project. But a verbal agreement was made to us when we purchased that building would commence by December 2014 and most likely finish approx. 12 months later.
Do we have any rights? Is there any way to get our deposit back? We want out of the contract and to get as far away as possible from the horrible service we have received from the agents we purchased from.
If anyone has been in the same situation or has any information that may help us we would greatly appreciate it.
Thanks for your time