Events of Default by Real Estate Developers

Many property buyers are attracted to housing schemes, apartment buildings, and commercial projects that offer properties on installments along with guaranteed rental income. Unfortunately, developers often default on their promises, resulting in delayed property delivery and unpaid guaranteed rentals. We understand the frustration and financial strain this causes, and we are here to provide comprehensive legal services to protect your interests and seek remedies against these defaults.

1. Delayed Property Delivery: Buyers are promised property possession by a specific date, but the developer fails to meet the deadline, causing significant inconvenience and financial losses. Buyers can seek compensation for the delay, enforce the agreement to expedite delivery, or claim damages for breach of contract.

2. Unpaid Guaranteed Rentals: Developers offer guaranteed rental income to attract buyers, but subsequently fail to make the promised payments. Buyers can enforce the contract terms to claim unpaid rentals, seek damages for breach of contract, or pursue legal action for fraud if misrepresentation is involved.

3. Poor Construction Quality: Properties are delivered, but the construction quality is subpar, not matching the promised standards. Buyers can demand repairs or compensation for defects, or seek a reduction in the purchase price if the quality is significantly below expectations.

4. Unfulfilled Development Promises: Developers promise various amenities and infrastructure that are not delivered as per the agreement. Buyers can enforce the completion of promised amenities, seek compensation for the lack of facilities, or rescind the contract if the amenities were a crucial part of the purchase decision.

Our Legal Services

1. Contract Review and Advisory: We review property purchase agreements and rental income guarantees to identify potential risks and advise on protective measures. Ensures that buyers are aware of their rights and obligations, and helps them make informed decisions.

2. Enforcement of Contractual Obligations: We represent buyers in enforcing the terms of their contracts through legal action or negotiation. Helps buyers obtain the promised property on time or receive compensation for delays and defaults.

3. Litigation and Dispute Resolution: We provide representation in court to pursue claims against developers for breaches of contract, fraud, or misrepresentation. Ensures that buyers have access to justice and can recover losses incurred due to developer defaults.

4. Consumer Protection Claims: We assist buyers in filing complaints with consumer protection agencies and pursuing claims under consumer protection laws. Provides an additional avenue for seeking redress and holding developers accountable.

5. Negotiation and Mediation: We engage in negotiation and mediation with developers to reach amicable settlements and resolve disputes without prolonged litigation. Offers a quicker and often less costly resolution to disputes, preserving relationships and achieving satisfactory outcomes.

6. Lawsuits: We organize and represent groups of buyers in lawsuits against developers for widespread defaults. Enhances the bargaining power of buyers and spreads the legal costs among many plaintiffs, making it more affordable to seek justice.

Our team of experienced real estate and contract law lawyers has a deep understanding of the legal complexities involved in property transactions and developer defaults. We are committed to protecting the rights of property buyers and ensuring they receive the properties and rental incomes they were promised.

If you are facing issues with your property purchase or guaranteed rental income, do not hesitate to contact us for a consultation. Let us help you navigate the legal landscape and secure the remedies you deserve. We look forward to assisting you in safeguarding your property investments and holding developers accountable for their promises.

We are here to help

Talk to our lawyers today. We tailor our services around your legal needs so that we can reach the desired outcome together.