To be honest I hadn’t considered the developer would not honour the private purchase contract terms (maybe I need to get real). But this is based on the fact he /they have been 100% honest to date.
I have contacted my lawyer to check the 25% refund clause. It has occured to me that this development is late (should have been finished Dec 06, due to be complete July 07) I’m hoping the refund clause runs past the forecast completion date of Dec 06. Also hope the same applies to bakn gaurentee.
I’m sorry to hear your story and as always there is somebody in a worse situation than the one I’m now in. Hope all goes well for you.
Thanks for the advice which is increasingly the way I’m thinking. I guess I bought at the top of the market (DEC 05) & at top of the market prices. I think the only way to invest at a profit in this market is to buy at auction or from a distressed investor when the market has hit the bottom.