Was I tricked? RE off the plan purchase

I paid two deposits and one extra commission payment which I thought was going towards my loan.

As far as I know she will try and avoid going to the courts and try and deal with it off the record, just like the original deal.

She already wants to meet up and talk. I think I am entitled to get my money back, that or it's lawyer time but i will go see one regardless.

You guys are amazing!

 

I'd ask for it back. Plus an extra 12.5k to keep quiet.

 

+12.5K towards PC meet up in whichever neck of woods you are in.... oops I mean legal advice.

 

Her licence is in jeopardy.

We know

Why was the property manager involving themselves in sales?

 

Hopefully you didn't use your real name as user name here.

 

maybe the $25k is a legitimate payment of consideration for assigning her rights under the contract- would need an extra document to outline the terms of this and that would need to be aggregated with the other 2 contracts for stamping.

Lawyer up

 

that should be a red flag, warning sign.

 

Your broker suddenly decided that you could afford to buy another one and to call the property manager, WTH? Then the PM decides that you need to pay $25k to her off contract because supposedly the price has gone up? If this is the case and it is demonstrable by a bank valuation then it should be reflected in the contract for sale.

I think you have been played. Lawyer up and see whether they can extract you from both contracts and whether they should pay damages for the time your deposit has been held up.

I wouldn't meet again with the PM until you have legal representation, know what your strategy will be and then have them represent you.

 

I am reading through that scenario and there are alarm bells going off...cannot believe anyone would jeopardise big sums of money like that without proper contracts

 

There were two separate contracts written up for the two apartments but none of them have any information regarding the deposit which must be paid.
However it was advertised as all you need to buy in is $25,000 deposit.

I have already asked my bank to commence a claim to get the money back. I still want the first apartment, just not the second one if it;s a shady deal like this.

I will be contacting a lawyer tomorrow morning and tell them the story and show the contracts I have signed.

Also got a text message from the property manager and she claims that she is suddenly sick and will either try and meet me at the end of the week or next week (I smell lies again). I think she is getting some legal advice to save herself.

Also would anyone know how much money she would have already made just by having me buy the two apartments through her, not even discussing the $25,000 she wanted under the table?

 

standard agent commission is around 2%, but where there are developers involved it could be between 4 and 8% even.

 

She is dealing with developers, so I imagine 4-8% then.
No wonder she is making good money and driving a fancy car. Still not enough it seems.

 

Be careful with having the bank reverse payment of the deposit for the second unit. This may put you in breach of the second contract and cost you more than the $50k you already have invested in apartment two.

As suggested, it would be prudent to seek legal advice if you are wanting to claw back the additional $25k payment and/or terminate the contract for the second unit. The agent may have committed a number of offences and politely bringing this to their attention may assist in recovering your funds. This will only be known by discussing the facts with a lawyer who can advise you accordingly.

 

Thank you.

Do I contact any specific lawyer who deals with RE, or a conveyancer will do?
Pardon my ignorance.

 

Considering the side issues I would avoid a conveyancer and go with a property lawyer.

 

Thank you. I will call them this morning.

Side question. How much will this cost me roughly? Obviously a lot less than $25,000.

Cheers

 

Seems that way now. And you are absolutely right.

 

See Terry or Darryl (RPI) They know their stuff.

 

Depends. It might be around $1000 or so.

 

Better than $25000.

I've spoke with a property lawyer and she is getting stuff ready.
She is pretty shocked to hear what happened. Will represent me to get the money back as I am already stuck with the contracts which I don't mind.

Cheers guys, will report back.