Flat Size and More Misdescriptions

Thanks again for all your help. I have a couple more questions and issues FYI.

1. Flat Size:
On the plan used to sell me the flat they quoted the Appartment size and Balcony Size. I have just looked at the plan in the contract and reestimated the sizes from the architect drawings and its over 17msq smaller than on the advertising! I cannot see anything written on the contract RE: Size.

This surely is not legal. Has anyone heard / ready anything about such situations?

2. Foreign Sales must not exceed 50%

I noticed a letter in the contract from the Treasury to Central Equity saying that no more of 50% of the units can be sold to foreign investors. Does anyone know if this has been exceed (I have banged of an email to them)

3. More than 5% deposit clause

I noticed this article on another discussion group about developers should not be able to charge > 5% deposit – http://www.theage.com.au/articles/2004/03/10/1078594430398.html?oneclick=true

Does anyone know who the case has progressed?

4. Another way out of contract

I just read this on another group: “… contract was subject to valuation and finance and as such because valuation was so far under, simply got finance company (my own independant finance) to not agree to provide finance therefore this gave me a legitimate out.”

I wonder if this applied to CE contracts?

Thanks again