Milners Square Apartments

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adi

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Milner Square Apartments. There has been over a years delay in completion and they are still not near ready. What is anyone else doing who paid their deposit in Nov. 2005. We received letters in Jan. outlinging the delays. How does anyone else feel or what action have you taken.
 
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I received this letter as well explaining delays to the building of the developement. My contract states that the builder was contracted to build my apartment within 24 months of the date of signing contracts. The builder will now be outside this 24 month time limit. I believe that at least one customer has begun court proceedings over this issue. Maybe this clause could be used as a bargaining tool with the builder re the contract price we have agreed to pay as the apartments are not worth this price now???? Any idea's would be appreciated
 
adi said:
Milner Square Apartments. There has been over a years delay in completion and they are still not near ready. What is anyone else doing who paid their deposit in Nov. 2005. We received letters in Jan. outlinging the delays. How does anyone else feel or what action have you taken.
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There is a big discussion about this over on
 
cathalbrenna said:
I received this letter as well explaining delays to the building of the developement. My contract states that the builder was contracted to build my apartment within 24 months of the date of signing contracts. The builder will now be outside this 24 month time limit. I believe that at least one customer has begun court proceedings over this issue. Maybe this clause could be used as a bargaining tool with the builder re the contract price we have agreed to pay as the apartments are not worth this price now???? Any idea's would be appreciated
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The fact that they may not be worth what you paid for them is irrelevant, If they were worth more would u expect to pay more to the builder???
 
Dublin 9, on the former premises of Joseph Murphy Structural Engineering between Santry Garda station and DCU
 
foxylady said:
The fact that they may not be worth what you paid for them is irrelevant, If they were worth more would u expect to pay more to the builder???
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I wouldn't go along with that.

It depends what the contract says - but if it's like a lot of contracts it may very well say that if the developer doesn't have the apartments finished in teh reqired time then the buyer has the option of redeeming their initial deposit and backing out of the purchase.

If this is the case then the developer would have to put the apartment back on teh market at todays price - which presumably would be lowe than the initial agreed price.

i reckon you can definitely do a deal with the develper at buying at todays market value - or even less.

As in - probably the last thing the developer wants to do is put it back on the market as it may take months to sell - and he may very well have to reduce the price even further in 6 months time or so if it still isn't sold by then.

He'd probably be happy to lock in a buyer now at slighlty below even todays market value.

Yee would probably have more power if many of yee banded together and approached the developer with this suggestion - or else threaten to pull out.
MAny customers pulling out would be a disaster for him - surely it would be the last thing he wants.
Particularly given that since the deposits went down 2 years ago,in his head he has probably been budgetng his subsequent business activities with that in mind.

In fact - having deposits may well have been a pecondition for the bank giving im money in teh first place.

This may well be a very powerful. bargaining tool against the developer.

it all depends what the contract says of course.

If the contract does say that then at he very least i would go through with pulling out assuming the value of the property has dropped.
 
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