Sunday, July 26, 2009

Condo buyer's remorse on the rise

From The Real Deal:

New development condos, places where many buyers once turned a blind eye to problems, are now emerging as a breeding ground for litigation over everything from misrepresentation to shoddy construction to unpaid vendors.

When prices were escalating, buyers seldom complained if their views weren't as spectacular as they had been promised or if the floors buckled. The current downturn, however, is now revealing a plethora of ongoing bad behavior at new developments — problems that, as money runs tight, are getting worse. Meanwhile, unhappy buyers or stiffed vendors are much more likely to sue.

1 comment:

faster340 said...

aaaawwww their investment isn't going as planned and now they are unhappy. But while the prices were escalating they were happy happy happy.... Well you played the marked and you GOT PLAYED! Now deal with it!