Dangers of OTP Apartment Purchases - Contract Rescission before Settlement

Discussion in 'What to buy' started by Ekin200, 29th May, 2017.

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  1. Ekin200

    Ekin200 Well-Known Member

    Joined:
    26th Aug, 2016
    Posts:
    70
    Location:
    Sydney
    Hey Albert,

    I haven't heard from Lazy snail as of now. Will keep u posted, but somehow I don't think a class action will be happening as the builders are close to putting a roof on top of the affected building.

    Ed
     
    AlbertWT likes this.
  2. Cindy

    Cindy New Member

    Joined:
    4th Jul, 2017
    Posts:
    2
    Location:
    sydney
    @Ekin200, I am glad we found you. We need to hear from you and your family, join us today, details below.

    Contract Rescission- Homebush West

    If you have lost your apartment at 81-86 Courallie ave Homebush West please contact us today. We are a group of buyers in the same boat, we all received a rescission letter from Telment Ventures/Lansari(acting lawyer for Telmet), join us for a chance to get back what's yours.

    Your sales contract may say 78 Marlborough Rd Homebush West however the rescission letter will say the address is 81-83 Courallie ave Homebush West. This is the same property; new address is due to the new road opening around the complex.

    Vendor's Agent is JGPW.

    Developer is Telmet Ventures Pty Ltd

    Acting Lawyer is Lansari Pty Ltd.

    Builder is: Hallmark Construction


    Wechat ID: sijia05031985

    Facbook link: https://www.facebook.com/groups/136009563635736/

    Or Facebook search: 81-86 Courallie Ave
     
  3. Cindy

    Cindy New Member

    Joined:
    4th Jul, 2017
    Posts:
    2
    Location:
    sydney
    Please ask anyone who is affected to contact us below. There is light at the end of the tunnel.

    Contract Rescission- Homebush West

    If you have lost your apartment at 81-86 Courallie ave Homebush West please contact us today. We are a group of buyers in the same boat, we all received a rescission letter from Telment Ventures/Lansari(acting lawyer for Telmet), join us for a chance to get back what's yours.

    Your sales contract may say 78 Marlborough Rd Homebush West however the rescission letter will say the address is 81-83 Courallie ave Homebush West. This is the same property; new address is due to the new road opening around the complex.

    Vendor's Agent is JGPW.

    Developer is Telmet Ventures Pty Ltd

    Acting Lawyer is Lansari Pty Ltd.

    Builder is: Hallmark Construction


    Wechat ID: sijia05031985

    Facbook link: https://www.facebook.com/groups/136009563635736/

    Or Facebook search: 81-86 Courallie Ave
     
    Dark Phoenix and Tony66 like this.
  4. Ekin200

    Ekin200 Well-Known Member

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    26th Aug, 2016
    Posts:
    70
    Location:
    Sydney
    Thanks Cindy. I have forwarded your message to my relatives. Appreciate you reaching out.
     
  5. Eyles

    Eyles New Member

    Joined:
    2nd Apr, 2018
    Posts:
    1
    Location:
    Sydney
    Hello to you. I joined this just so I could speak to those people whose contracts have been rescinded by the developer at Centennary Park, 81-86 Courallie Avenue, Homebush West. My first words to you are that God was looking after you when this happened. I purchased and moved in here in September 2013. It was Unit 509C. It was the prime unit in the whole place at the point of the building envelope overlooking the Harbour Bridge to the east, Olympic Park to the north and the mountains to the west. A beautiful unit too. But that was about it. The rose among the thorns. The balcony fence even blew off. Anyway, after living there for 12 months I saw an opportunity to make some money before it was too late. I could already see how it was going to be. And I was right. It was listed for auction. It did sell but there was only one couple interested. Everyone loved the unit. Everyone hated everything else about the place saying it was chaos, bad, a slum. And that was 3.5 years ago! I have been reading about what it’s like now and am not surprised one bit. It will only get worse. And worse. People will lose money and there will be mortgagee in possession sales. You are lucky that your contracts were rescinded. You will see the prices of units dropping across Sydney due to the over supply. Imagine if your contracts had proceeded and your hard earned money was invested in place like that. In my book there would be nothing worse.
     
    Dark Phoenix and Kanika like this.
  6. Kanika

    Kanika Member

    Joined:
    21st Jul, 2018
    Posts:
    16
    Location:
    NSW
    Thank you for this post. I had liked a unit with exactly similar description its 310C/81-86 Courallie Ave to buy. However your post warned me right in time. I had just signed the contract but was away from final settlement. If you can tell me for much did you sell your apartment or an idea of how much the apartment in same building should cost, it will be great help?
    I placed an offer for 570k but it was rejected and was asked for 5k more, but I pulled out after knowing from several people's experience about builder/building maintenance and strata issues.
     
    Dark Phoenix likes this.
  7. kaibo

    kaibo Well-Known Member

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    30th Jul, 2017
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    Location:
    Melbourne