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Hello my name is Alex and I will help you with this. Please note that I am a working Solicitor and may be on and offline as I have to attend Court and meet with clients, even at weekends. As such you may not get an instant response when you reply as this is not an ‘on demand’ live service, but rest assured I will be giving your question my immediate attention upon return.
Does the contract have a clause for termination or cancellation please?
the contract has a termination provisions which seem to cover only if i cant complete.
Did the contract set out provisions for completion times?
31 jan 2008 which may be extended by 6 months , the original developer has gone burst and there is now a new developer
I see. In terms of the new developer was there a new contract?
no not yet
Have you paid the new developer anything?
And did you make a claim against the old developer? Does he/they own any assets?
no claim old developer completely out of the picture
In law you are able to cancel the contract because there has been a significant breach.
Ordinarily you would be able to sue for breach of contract in terms of the old developer as you have a contract with them.
However sadly you have no contract with the new developer and that means they are no way responsible for any loss of the previous developer.
Whilst I am of the view you can cancel, I am sorry to say any money you have paid would be lost if you wanted a refund, unless the new developer would want to do that, but I doubt t
doubt he/they would.
Property is an investment and indeed a risk, but this time the developer has gone bust and you would only have a claim for against that old developer, now the new one.
I am sorry if this is not the answer you want and certainly not the one I want to give you, but I have a duty to be honest.
Can I clarify anything for you about this today please?
what about the fact i bought a top floor apt and i am being moved to another lower floor
That is a claim against the old developer as you have no contract with the new one.
I am sorry. Does this answer your question?