Hi. I am trying to find out anything about a development company called Oxford Crest Pty Ltd. We have property and they are wanting to put a contract on it. We have been let down by developers in the past and are a bit wary about rushing into a contract and being tied up for a year with a lot of uncertainities. If anyone has heard of them or know anything about them, we would really love to know about it. Thanks heaps. Barbara & Terry
I would be worried. They seem to change their structure, their name, and their directors a lot.
http://www.search.asic.gov.au/cgi-bin/gns030c?acn=075_881_373&juris=9&hdtext=ACN&srchsrc=1
Take a large non-refunable deposit!!!
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The poster formally known as The Mortgage Adviser
When I grow up, I want to be a Storm Trooper!
Step one: go see a Lawyer.
Step two: ask for a $100,000.00 cash non refundable deposit to be released to you now, if they dont accept you will know if they are full of u know what.
Phil
Thanks for the advice. We have felt uneasy with the deal and have put it off. The agents are presuring us to sign but this gives us a bit more ammo. We have asked for a 5% non refundable deposit after due diligence but no one seems happy to do that before DA. I guess I am from the other side. Being a seller at the moment and especially acreage so it is developers who are interested in turning our 20 acres into a retirement village or something else. Any tips on what conditions are fair to put into a contract like ours would be greatly appreciated. Thanks again
We are currently trying to ascertain what has happened to $100,000 my parents invested in a Strathpine Village to be built Oxford Crest a few years ago. 10% return was promised but no mony has been seen. The uncompleted, unoccupied and no longer progressing village apears to be suffering from a severe lack of available cash. I certainly would not enter into any further business with them.
I know this was a couple of years ago but in defence of developers who use property options, of which I am one, they are a great way to get the highest possible price for your real estate. The key is agreeing on a high enough price knowing that your risk is the time of the option and nothing else. If the developer gets the approval necessary to get his development up then the added value is attached to the block. He can either buy at the significantly higher than market price that was agreed to up front or leave you with the value added block.
That being said your block sounds interesting so if you would like to toss around some realistic figures for a property option let me know. I'm always looking for new oppportunities.I would also be iinterested to have a look at your property.
Please PM me the details if you want.
Cheers
K
We are yet another stung by Oxford Crest – Strathpine. 3 years and waiting. About 6 months ago the Courier Mail did an expose on them. Directors were responsible for a pyramid scheme a few years back. One reason the Courier Mail ran the story is because the Tax Office wanted to wind them up (reason unknown), although this is now withdrawn.
Run a mile from this mob.Oh no…is this really true?!! Can anyone confirm? Please let me know if anyone has more details or tips (like good solicitors – so I can get my 13k back…
) email me please! ([email protected])If you've deposited the money into a solicitor's trust account, getting your money back should be straightforward. Most contracts have a sunset clause that allows the buyer to call off the sale and reclaim their deposit if the property is not completed within the allowed timeframe.
Read your contract and find the sunset clause (they might be required in contracts of off the plan sales) then contac the developer's solicitor. As the money would be normally held in his account, it should be as simple as providing a written notice that you want to cancel the contract and want the deposit back.
Hope that helps.
) email me please! (
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