So: when you sign a lease you're safe then...
Sep 25th 2006, 8:22 am
#1
Lost in BE Cyberspace
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Joined: Mar 2003
Posts: 9,397
So: when you sign a lease you're safe then...
Two months after moving into our third rental we got served a copy of a Supreme court claim: the landlord/developer allegedly defaulted on $3m three months before we signed the lease and we will probably have to move out in 4 weeks.
As I have said many times before, the Oz property market is very sick and overpriced: repossessions are now a common fact of life according to the agent. Unfortunately it is those who are in our position who often cop it!
As I have said many times before, the Oz property market is very sick and overpriced: repossessions are now a common fact of life according to the agent. Unfortunately it is those who are in our position who often cop it!
Sep 25th 2006, 8:54 am
#2
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Joined: Nov 2004
Posts: 2,584
Re: So: when you sign a lease you're safe then...
Originally Posted by Wol
Two months after moving into our third rental we got served a copy of a Supreme court claim: the landlord/developer allegedly defaulted on $3m three months before we signed the lease and we will probably have to move out in 4 weeks.
As I have said many times before, the Oz property market is very sick and overpriced: repossessions are now a common fact of life according to the agent. Unfortunately it is those who are in our position who often cop it!
As I have said many times before, the Oz property market is very sick and overpriced: repossessions are now a common fact of life according to the agent. Unfortunately it is those who are in our position who often cop it!
Sep 25th 2006, 8:58 am
#3
ah-beng
Joined: Aug 2004
Location: ^.^
Posts: 3,113
Re: So: when you sign a lease you're safe then...
Originally Posted by Wol
Two months after moving into our third rental we got served a copy of a Supreme court claim: the landlord/developer allegedly defaulted on $3m three months before we signed the lease and we will probably have to move out in 4 weeks.
As I have said many times before, the Oz property market is very sick and overpriced: repossessions are now a common fact of life according to the agent. Unfortunately it is those who are in our position who often cop it!
As I have said many times before, the Oz property market is very sick and overpriced: repossessions are now a common fact of life according to the agent. Unfortunately it is those who are in our position who often cop it!
Sep 25th 2006, 9:05 am
#4
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Re: So: when you sign a lease you're safe then...
Originally Posted by spalen
Sue the landlord
Sep 25th 2006, 9:09 am
#5
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Joined: Sep 2005
Location: Eldorado (near Wangaratta) 'country Victoria'
Posts: 1,451
Re: So: when you sign a lease you're safe then...
Originally Posted by Wol
Two months after moving into our third rental we got served a copy of a Supreme court claim: the landlord/developer allegedly defaulted on $3m three months before we signed the lease and we will probably have to move out in 4 weeks.
As I have said many times before, the Oz property market is very sick and overpriced: repossessions are now a common fact of life according to the agent. Unfortunately it is those who are in our position who often cop it!
As I have said many times before, the Oz property market is very sick and overpriced: repossessions are now a common fact of life according to the agent. Unfortunately it is those who are in our position who often cop it!
Good luck we had to move within a few months of moving into our rental and it was a real pain, I hope that things settle soon.
Nicky
Sep 25th 2006, 9:21 am
#6
Lost in BE Cyberspace
Thread Starter
Joined: Mar 2003
Posts: 9,397
Re: So: when you sign a lease you're safe then...
Thanks all!
Everyone lies, so it's not easy to find out what is happening - just like the previous rentals.
At present we are just waiting to see what the post brings. Certainly sueing someone who is effectively worthless isn't a way forward. The stupid thing is that the 6 villas are SEP55s - or only to be occupied for the over 55s - and the market for them is very very limited. So the solicitors who advanced the money may well find themselves with unsaleable properties and no rental income! (They were on the market for almost a year with no interest before the developer decided to rent them out).
Everyone lies, so it's not easy to find out what is happening - just like the previous rentals.
At present we are just waiting to see what the post brings. Certainly sueing someone who is effectively worthless isn't a way forward. The stupid thing is that the 6 villas are SEP55s - or only to be occupied for the over 55s - and the market for them is very very limited. So the solicitors who advanced the money may well find themselves with unsaleable properties and no rental income! (They were on the market for almost a year with no interest before the developer decided to rent them out).
