Submitted by Question606 on Sun, 04/12/2009 - 13:16
Posted in
We recently purchased a unit in a luxury high rise condominium, during the preconstruction phase. Upon completion, quality of the end product did not meet expectations. Corners were cut to keep costs down and sell units.
Shortly after the completion of the building, units went for auction, further decreasing the value of the units purchased before hand.
Would we have a case in going after the developer to recoup some of the losses incurred?
Editor's Response
Hard to say without seeing all the documents, but you may have a breach of contract claim (if you were promised certain materials and the developer substituted lower quality materials. If you are talking about a substantial amount of money and a developer that is still in business, you may want to run the facts and documents past a real estate/litigation attorney. Good luck.