Anew development rockdale nsw

So to the people that have purchased, if the building gets finished to the correct standards and the value hasn't dropped since the time you signed the contract and paid your 10%, would you be happy?
Seems like a fair bit of buyers remorse in this thread, initially unhappy that progress was slow, now unhappy that progress is going too fast.
Just my 2 cents.

 

actually to be honest, i wouldn't be happy because it has taken the longest amount of time to build this building when i could have gotten something earlier to live with my family, now i am stuck here renting and wasting my money instead of having our own place, the sellers at CBRE at bad because yes the promise to build it within 2 years but just in case contract wise we have 5 years to **** you up and build it at the last minute.. i followed this up when i was probably complaining to them 2-3 years into it when they didn't even start demolition and it was because they had bank issues and still needed to get approval from council for x,y,z. they should never be allowed to sell any apartments unless they everything in place to build which they didn't and pretty much lied to all investors so to answer your question, no i wouldn't be happy

 

You read the contract. You signed it. If you wanted to move in fast you should have bought something that waa complete.

 

To clarify, the contract stated it could take up to 5 years?
Lesson learned, just another reason on a long list of why you shouldn't buy off the plan apartments

 

Surely that's a joke! Sure there were a handful of days where it would have been too hot to work, but there was virtually zero rain! There would definitely have been less lost days in 2019 than most years!

 

Moving forward... is any of the investors close by following the construction?
Who is the certifier signing of the works?

thanks

 

Unsure about the Certifier.

I drove past late last night and I could see that the front facade up to level 3 was exposed we can now start to see what the exterior looks like now. I will get some photos during the day time hopefully within a week.

 

Yes lesson learnt
(1) don't believe sale person
(2) if contract says 5 years, then i wouldn't buy
(3) buy something thats being built at least you'll know its going to finish
(4) get a better solicitor because mine is *******, if he told me "oh did you know they can take up to 5 years worst case and its most likely this could happen with off the plan apartments", then it would have been nice to get that feedback and i would have said no

this is my 1st investment so yes its a hard sting so just going to have to learn from my mistakes

 

Hi all,
Could I get your expert opinion based on peoples experience whether you've a buyer or a tradie completing a construction but regarding this property and based on the attached photos, how long do you think the developer has left to be completed by?
Imgur

from the updated email from the sales agent advised;
the roof slab has just been poured and progress from here on should follow through smoothly. Internal fitouts works on the lower levels are well advanced with windows and joinery installed.

The front podium scaffolding has been stripped down to level 3. The stripping of the tower scaffolding (extending from level 4 - level 8) will commence in the coming months, exposing the completed facade

 

Hi All,

Does anyone still have the marketing information/brochures/sales advice indicating the sunset date/final sunset date/ estimated completion date?

from memory i was told by the sales agent that the estimated completion date at the latest would be early 2019, does anyone have hard written evidence of this?

Please if you do, post it on here or private message. This would mean a lot to me.

 

Hi everyone, Lovely to e-meet you all. Since we are all concerned about this property being completed on time and potential issues that may arise as well as valuations being affected in the current environment I have reached out to a colleague of mine regarding how best to approach this.
We need to band together if the price does come in lower then the original contracts exchanged in order to get a review. lets exchange contact details of anyone who is interested in taking on this endeavour. Feel free to reach out if you have any queries.

Regards
Dan

 

What is in the contract ? The sales material and all advice, discussions etc will be excluded in the contract. Its why legal advice on a contract is important. And the "new" NSW rules may apply to this contract for sunset clauses. A contract prior to 1 December 2019 has different rules for alterations too. Far less generous than one signed after.
New requirements for off-the-plan contracts from 1 December 2019 also discusses the 21 day rule when you may find out how much your planned purchase has changed.

 

Thank you for this information. I think most of us would have purchased prior to 1 December 2019...

 

Have any of you guys had your bank valuations done yet?

 

Can be done in 3 months. Assume complete by Christmas 2020 at the latest.

 

Bank evaluations start in October 1, 2020. So in two days.

The sunset date on the contract had 2 dates, a sunset date October 31 2019, and a final sunset date October 31 2020. This is a bit confusing, but its all there.

Anyone have any clues, leads or anything in regards to the quality of the building? Apparently the builders are of a good reputation...

 

After reading this thread: Really?

 

Who’s the Builder?

 

Hi, good to meet everyone. We've purchased a 2br unit and are first home buyers. Our bank did an electronic valuation and seems to have approved the loan amount (thank god!). I also drove by the unit late last week and the internals seem to be done. They were still painting the outside and the ground floor still needs work. Has anyone received an update on your pre-settlement inspections?