Hi cu@thetop
The solicitors who drew up the contracts were the vendors solicitors
They are a medium-large developer. That is, they are not an individual or just a couple of people. They are a company with substantial developing experience. They are one of the largest developers in this particular city.
As to the price the blocks range between $65 – $75,000 with the difference in price about $12,000 on one block and $6,000 on another.
Hi Kiz. I haven't said on the forum what I will be doing. I have just been putting out both sides of my ethical dilemma.
I will let you know what I will be doing in due course. I just wanted to get everyone else's thoughts on the situation.
Cheers
K
Linar, contact the St James Ethics Centre and discuss your concerns.
However, I would review all of my own paperwork including the written offers to ensure that I hadn't make a mistake and believed that I was paying more than is shown on the contract.
I think this one would test many people who are ethically inclined under normal circumstances which I am sure Linar is one. That's why he is undecided as to which path to take. We all have our moral dilemmas in life and have to live with the results of our decisions. I usually try to evaluate if my action is creating unfairness or harming someone directly or indirectly and base my decision on this criteria. Linar is well within his legal rights to pay only the contract price despite agreeing on the higher price. I thank and respect him for sharing this dilemma as it stirs sentiment in each of us and allows us to reflect on our own moral traits.
I hope he can achieve true wealth – earning a sound livelihood while maintaining a clear conscience.
Linar wrote:They are a medium-large developer. That is, they are not an individual or just a couple of people. They are a company with substantial developing experience. They are one of the largest developers in this particular city.As to the price the blocks range between $65 – $75,000 with the difference in price about $12,000 on one block and $6,000 on another.
The developer may have given you a discount for a multiple purchase – If there are any left I'll take 3. I might get even a bigger discount.
I'm in a similar situation with buying from a local council… settlement hasn't taken place yet and it's been 15mths! We are happy because we agreed on a price and that we could move a tenant in if settlement took longer than 30 days and we claim the rent and pay any outgoings. We have not yet received any council rates or water rates… unless it comes up at settlement (whenever that will be) I will NOT be saying anything. If they can't read the contract and organise the bills to change hands then i will pretend 'i no nuffing'!!
As for Linears situation… hmmm i think they will notice it at settlement but if not….. ooops. once it's all filed away, who will ever go back and check it? Could i sleep at night, yeah… whats the difference… as investors we always try and negotiate a lower price (even from the old lady going into the nursing home) we still sleep at night doing that don't we?
i think what you do is your business and what ever you decide… good luck with it.
You could hypothetically let them know that you may have paid too much and see if they would give you the money.
Another option is to donate the money to a charity.
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