Hi,
My partner and I are looking at purchasing our first home in Melbourne. The Grosvenor building seems good value for money, but an agent told us that the builder has gone broke and construction has stopped. Another agent has a property for sale in the building and says the building will be complete in 2 months.
Does anyone have any suggestions about how I can find out the real story behind the building?
If the builder or the developer have gone into liquidation try looking at the ASIC website or VCAT (builders licensing). Better yet, try contacting the builder or developer directly (or their administrator/liquidator).
Geez the builder must have been an absolute einstien to go broke is this economy/property market lol Hate to imagine how he would have faired if things were slow lol
Fixed price contract, underpriced in a rising market (labour shortages) – not that hard. I'd much rather a slow economy and be able to screw a better price than be screwed the other way.
Thanks for the information! Will check with ASIC and give the builder a call.
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