#22626
bcr83
Flatchatter

    Sorry to hear and hope it works out for you…Just count yourself lucky it wasn’t worse with a loss of cash or potentially lumped with a building full of defects.

    Buying into my first property I’ve been burnt too..

    Builder declared bankruptcy (which I later found is common practice) as such there are significant defects in my building and with no insurance or coverage the owners corp are up for extensive rectification costs. 

    As such I am up for approx 50-60k remediation costs and over a year of stalling to get the work done. I would do a significant amount of research before buying an apartment next time round, all strata reports, building inspections came up fine, yet the building has developed significant issues..

    I find the consumer protection laws have massive holes with regards to this, everyone knows it goes on but just let it go.

     

    Goodluck and hope it works out for you