I am wondering if anyone out there could help me or recommend a solicitor who can help me here.
I have a friend who purchased an off the plan apartment in Cairns in 2003. He has paid 10% deposit, but the building is not even built yet.
My friend want to get out of the contract and get the deposit money back. I have read the contract clause to see whether there are any grounds for termination but could not find any.
Please help
Look for the sunset clause. ie what date does the building have to be completed by?
Terryw
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I looked through the contract myself for a sunset clause but I couldn’t find it.
The contract has to be completed by 3years and 5 months after the signing of the contract which is Feb-March 2007.
But they haven’t started building yet…
There is also a clause where if the Vendor cannot raise enough finance by 30 June 2004, they can terminate returning the deposit to the purchaser. Since they didn’t, I assume that they have raised enough finance to start the construction.
The contract looks very different from a NSW contract, because the draft plan already has a strata plan number. In NSW, as far as my understanding is concerned, the strata plan number is only given at the final stage of the building, after all the council approvals and everything.
Anyway, thanks for a prompt response.
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