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Developer Sues Prospective Buyers

Developer sues prospective buyers

A property developer sues prospective buyers whom it claims failed to meet the deadline to complete the deal. Ref. Source 7

Buyers Prospective Sues Developer

I think that if you signed a contract you are liable if you did not go back and state that you could no longer afford this. I am sure that they would have done other stuff to help them out. I think that would have saved the company from resorting to suing the contract purchaser.

Developer Sues Prospective Buyers History & Civil Business Politics

Seems strange so in a way I believe he has the right to sue. However if these buyers are in actual financial strife then a lawsuit will only make matters worse. At lease over here we often put terms in property contracts that state the sale will take place conditionally on the finance of the buyer.

Buyers Prospective Sues Developer

Well, it is not the fault of the company that the buyers cannot longer afford the deal. If there is a contract then it needs to be respected.

Buyers Prospective Sues Developer

This is a very difficult situation. For one side you understand the kind of investment this whole thing took and by the other side you cannot forget it is not the buyer's fault that the economy is in the way it is. Very hard to decide what side to take really.