more questions about litigation

Dawn33


Joined: 04/12/2009
Posts: 4

Message Posted:
08/12/2009 13:42

Members comments please



Will the builder have remortgaged the whole block of 6 apartments, or could she have mortgaged only some of the six in the block?



Can we sue builder for breach of contract, plus extra costs incurred through her actions? (increased purchase tax, in 2004 this was based on a valuation which was much less than purchase price – but this later became based on percentage of purchase price plus considerable increase in transfer of deeds cost)



Is it correct that we can’t include the cost of litigation in our claim?



The builder stands to lose nothing. They have had the money for the apartment(s) and now the bank (I guess) holds the title deeds. We can take her to court but if she defaults on the loan what does she lose – the title deeds to a property she hasn't paid for and doesn't want?



Can the bank resell our property if she defaults on the loan? Who would buy it from bank if we have registered our ‘ownership’?



Any idea estimate cost of litigation?

Hector


Joined: 26/08/2008
Posts: 2352

Message Posted:
08/12/2009 20:36

Have you made contact/sought advice from Marian Stokes of the Home Buyers Pressure Group?

http://www.hbpg-trnc.net

The website is due to be updated tomorrow.

You are not alone.