Re: Contract Cancellation


Hello everyone – thanks for your replies. Congratulatipons to Claire, Barbara and Katerina on their recent success. Your continued postings are extremely helpful and may just achieve the same success for us eventually. Would it be possible to have the name of your Lawyer by pm if necessary or will he now be inundated with requests?

Claire – I just caught up with your friend Paul who started the “Awful Estates” catch phrase and he has given me some very sound advice.

Barbara – Yes we have been naive. At the beginning when the Agent (Ocean…..sounds like something you would step in) presented the contracts for us to sign as we trusted them to have made the relevant legal checks when they asked us to sign the contract. How would we have known about a Bank Guarantee at this stage? The Lawyer recommended for completion has now said he was not involved at the outset and therefore cannot help with any BG. Is this right? Very aware of our rights not to complete without the LFO but he has mentioned that it is up to us whether we decide to complete or not.
We have another very strange situation which I would rather not post here but explain on pm for your advice if you have time.

Dorothy – I have looked at the contract regarding further abusive clauses but to be quite frank it’s a b….. shambles and the whole situation is an abusive of decent hardworking people who just wanted a small place in the sun for their retirement. It does mention a Notary chosen by the Developer but I think it also suggest that it is possible to choose an alternative if we advise differently within the time frame.

It also states that the conclusion of the construction is initially anticipated for approx 20 months after the signing of readress – whatever that means. Obviously not a lot as we are now 4.5 years since the deposit was paid and still no completion. How much over the time limit does this need to be before we can call a breach or null and void contract? There is no specific month/year written in the contract.
The REA put together a completions package – all of those offered to assist us have done nothing more than take money up front and earned interest for themselves. How they sleep at night, I do not know.

All ongoing responses much appreciated to try and bring this nightmare to an end. Mark – hope there is nothing in the above that you will need to block out.