Management company delayed house sale

[Dawn]

We own a duplex in Kilkenny and were in the process of selling this. We had sale agreed with the completion date arranged for the 23rd Dec.

My solicitor contacted the management company for information and was advised that they were no longer dealing with the developement. We received the details of the new management company, however, they advised that as they were not officially appointed they could not provide the information. After 5 weeks of going back and forward our purchaser pulled out of the deal.

We are now left with a mortgaged property with no purchaser and no tenant, all due to the developer not officially appointing the new management company before letting the existing one go.

On top of this a water pipe burst in the attic and we have €17,000 worth of damage which the insurance company may not pay out due to the property being vacant for a period of time. By the time we are in a position to sell the property prices will have fallen even further.

Does anyone know if I have a right to hold the developer responsible for our loss, if so, how do i go about doing same?

 

[mathepac]

Presumably you mean managing agent in your post and not "management company".

As an owner of a property in the development, were you not a member / director / shareholder of the management company, the entity ultimately responsible for the appointment of managing agents, insurances, finance, etc?

 

[mf1]

"Does anyone know if I have a right to hold the developer responsible for our loss, if so, how do i go about doing same? "

You need to understand the nature of "liability". You are caught as a vendor in a falling market where the provision of services has become more expensive and more difficult. For a number of reasons, your purchaser pulled out. They might have pulled out anyway. Even if the developer had appointed a new management company.Why should a developer have a responsibility to you after he has sold the property to you and you have an opportunity to
become actively involved in the running of your managment company?

The developer is not responsible for your difficulties - a falling market is. No-one is liable to you and there is no-one to blame. These are all the risks associated with being a property owner/landlord.

mf

 

[shesells]

Dawn it sounds like you bought in a managed development without understanding what that entailed. It's nobody else's responsibilities to educate yourself and to get active in the management company. As pointed out, you don't seem to understand the difference between company and agent and that's the first thing you need to know when you buy a property like this.

So no, the management company did not delay the sale of your "house", the agent may have, the developer may have but ultimately you failed to be proactive so there's nobody to blame in this case.