03 Feb 2009 2:36 PM:
Its sounding like you dont trust the developer in finishing off the job hence your agressive responces to my posts..somehow this blog will influence the final outcome of the project. maybe the developer should consider giving away some of his profit margin to resolve the delay issue.
I wouldnt expect him to loose money by excessive discounting but none the less he has contract obligations to finish the job or to refund.
I am not putting words in people mouths several individuals are trying to cancel so I am clearly not on my own here.. I have spoken to two such people today... who are having a good laugh about this blog despite serious concerns about deposits. as well as the increased cost of the mortgages with the weaker pound and affordability due to the economy etc.... real life issues to most...
I have invested £50k so I have given the situation a reasonable amount of thought as its a considerable sum of cash... certainly not an amount I would choose to give away in order to satisfy some other persons dream... put an amount i would prefer to recover simply without having to become involved in a bitter legal battle...
In my business the trick is communication, maintaining communication even in hard situations and circumstances.. something the developer has failed to do... with a simple point blank refusal to refund... perhaps if he engaged in trustworthy constructive talks with those concerned then the whole issue might just get resolved to his benefit as well as to all the other investors in his development...
You obvioulsy see the developers on a regular basis perhaps you can mention that perhaps Josie's tone is not going down to well and perhaps he needs to be more constructive and dynamic in his efforts to resolve what has become a major point of concern for many speculators in his development...
I am not being unreasonable, i have placed £50k in the trust of Josie to delivery me a dwelling on a completed complex. that has never been in question, and if he failed to do this he is obliged to refund my deposit. He has failed and to his peril the contract has heavy sanctions against him after the initial 6 month delay...
So the dynamic solutions to resolve this situation needs to come from Josie and quickly... I invite him to join the blog and post a solution to this problem, one that will be honoured and legal that will assist everyone feeling the strain of his failure to complete on time... that way he may secure his own survival and his reputation.
Can i suggest some ideas
- A sliding scale discount or cashback based on the length of your delay or a payment holiday {paid by the developer] on the mortgage to allow people to see out this recession and maybe provide time for the pound to recover.
- On the completion of the properties.. an official statement listing all the dwellings with completion dates against each of them .. dates that will be achieved updated weekly
- On the completion date of the common areas, a date for completion and agree a retention fund that wil be witheld until he finishes the common areas
- Perhaps a financial statement on the development as a whole seconded by the banks so we know it will get done...
Any other ideas please post... What I am saying is not unreasonable thats simply good communication... to start saying to people that you will never get your refund back will destroy the development unfortunately thats the developers current stance and he will fall on his own sword operating in this way...
Community thread:
DEVELOPER REFUSES TO REFUND MY MONEY BANK GUARANTEES NO GOOD
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