Hi,
I would like your opinion on the following matter:
On 8/10/2007 we signed a booking reservation form for
unit B2.02 (91 m2 with park view) for $375,000.On 13/12/2007, the developer has come back to us
saying they had a pricing mix up and that our unit
should have been $430,000.I have a reservation agreement clearly stating the
price and unit number and also an email from the
developer acknowlegding they had a mix up.As a consumer, what are my rights? I have been told
only a contract of sale holds any weight in Victoria
property law, and since I didnt sign one, I dont have
a case.Doesn't the reservation agreement count as some form
of written contract? The developer is offering an
alternative unit (without park view) for $375,000.
Should I be compensated in any way if I decide to go
ahead with the purchase?If the contract has not been signed by both the parties, I think it will be a challenge to get the developer to change. Maybe you can ask the developer to tell you the prices of adjoining townhouses. Assuming they have similar finish and aspects, you can see if there is a genuine mix-up or the developer is just trying to get some more money out of you.
Good luck and keep us posted on progress.I am no lawyer, but believe you do not have a valid contract unless the vendor has signed and you have the contract with their signature on it. But there are exceptions to this rule so discuss it with a lawyer.
Terryw | Structuring Lawyers Pty Ltd / Loan Structuring Pty Ltd
http://www.Structuring.com.au
Email MeLawyer, Mortgage Broker and Tax Advisor (Sydney based but advising Aust wide) http://www.Structuring.com.au
Unfortunately, i dont have any legal rights to this issue. We have decided to take the alternative unit and the developer is giving 5,000 of the sale price to compensate.
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