澳洲Australia property Off the plans | Sydney


在澳大利亚 The pool at of an IP needs to be resurfaced (or so the pool doctor says), the cost was estimated to be $10K ($10,000), after recoverying from my impresssion of a cat coughing up a fur ball, it just seems far too much. Its just a standard poo I need some advice regarding a property purchase. Property - semi-detached house Bedrooms - 2 Condition - average needs internal reno to modernise Street - one of the best in suburb Location - excellent Close to schools - yes Transport - 50m


Anyone got any infomation about the Tambrey Development in Karratha WA it is being done by MLG and since paying the deposit the company does not return emails or give correct information about the development wondering if anyone has any infomation about it?? I am locked in and getting no feedback, I am sure it will all work out since I live up here but still does not help when completion was due early 2011 and they have not even put shovel to dirt!
:(  

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jdesil said: ↑
...... since paying the deposit the company does not return emails or give correct information about the development wondering if anyone has any infomation about it??Click to expand...
Sadly no.

jdesil said: ↑
I am locked in and getting no feedback,Click to expand...
Mmmm

jdesil said: ↑
I am sure it will all work out since I live up hereClick to expand...
That's the spirit....since you live there it will all workout OK right? I mean what can go wrong? :confused:

jdesil said: ↑
but still does not help when completion was due early 2011 and they have not even put shovel to dirt!Click to expand...
Well there's 1 week left of Septemeber, and then 8 weeks of Oct/Nov before the building shutdown period of Dec/Jan. 9 weeks should be enough to do the construction, get titles done & registration, do you reckon?:rolleyes:

OK my apologies for taking the mickey:eek:. OTP has lots of risks and just one of the risks is that it never gets out of the ground. If it does get out of the ground, it may not get completed. If it does get completed, the finishes can often vary by 10 - 15% compared with the schedule of finishes or the display unit you inspected. If it finishes late, then the vals may have fallen by then and you may not be able to get the same finance you could when you signed the contract years earlier:eek:......of course if none of these things happen, and the market actually goes up during the construction phase, then you may have a capital gain and equity before you even settle. This would be the absolute best outcome.;)

At this stage you should be talking to your solicitor to see what legal remedies are available to you. e.g. collapsing the contract, getting your deposit back and possibly buying some thing else.

Alternatively, you may find lots of "out" clauses in the contract you've signed that allows for a (much) longer completion date (than say early 2011). The developer may be suffering delays with getting approvals. They may have not sold enough units OTP to get their construction finance. Who knows.....keep onto it and let us know how you get on please.  

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I agree with the above post.

You most certainly do not want the building works rushed in order to complete by early 2011. This would mean bringing in more contractors onto the site all bumping along and who knows what the final quality of works will be.

Whilst I have been able to continue works during the Christmas shutdown on work projects, these took months of planning and detailed work contracts and they all still ended late - even if it was only a few weeks.

Trust your instincts that something is wrong and seek legal advise rather than take the wait and see approach.  

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How big is the development? I’m kind of in the same boat, completion due in march 2011 but nothing has started so far. Mine is only a 4 unit development though so its feasible for them to finish it by march but I don’t know. Also I get a pay out if the place is not built by march, is there anything in your contract along those lines?  

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jdesil said: ↑
...when completion was due early 2011 and they have not even put shovel to dirt!
:(Click to expand...
Website says settlement of project late 2011?


The Y-man  

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Jdesil

Just so I understand you had money/loaned money on the premise of buying an investment to make more money. After much research the one you chose is a OTP in Karratha that is not meant to be finished for another 4 years.

Why?

Jezza  

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