Friday 9 October 2015

NSW Government Survey into buying off-the-plan


We said we would not post another photograph of an uncompleted driveway into Harbour Mill, so nothing to show you today. It's still a work-in-progress. The building itself, though, looks great.

There have been many comments on the blog about sunset clauses, where the developer can cancel the contract after a certain date. There is more coverage of the issue in the media today. See the extract below from today's Sydney Morning Herald.

I'm not sure whether every sunset clause at HM is the same, but in our case, it is 31 March 2016. Do others have this date? That is six months from now, and I'm confident Ceerose is highly ethical, and as its website says, it has "a commitment to the very highest standards of integrity". I believe they are trying to finish as soon as possible.

But others are less fortunate, and hundreds of purchasers are losing their apartments in other buildings. This would be a devastating experience, given all the expectation, excitement, build up ... and cost.

The NSW Government is conducting a survey on experiences buying off the plan, and the more people who express the view that a developer should not be able to rescind a contract, the more likely the laws will change.

The survey is available on this link and is only open until 14 October 2015.


Buying off the plan 

Survey - Buying property off the plan


The NSW Government has launched a survey inviting you to share your experience of buying property off the plan. Your feedback will help to inform a review of the current laws regulating this type of sale.
To find out more and access the survey, visit the Buying property off the plan page.The survey closes on 14 October 2015.

From The Sydney Morning Herald, 9 October 2015

Hundreds of off-the-plan purchasers across Sydney – who paid deposits two to three years ago – have had their contracts torn up and apartments placed back onto the market.   
Claiming the developers are cashing in on record high property prices, the buyers are now taking action.
After an investigation by Domain into boutique Surry Hills block East Central where seven contracts were rescinded by the developer Ash Samadi and most of the units were then resold for up to 50 per cent more, it’s been revealed that at least three other new buildings in Sydney are also embroiled in similar controversy. 
Tara Ende [middle], John Seale [left] and Lee Sim [right] all had their contracts rescinded in Surry Hills.Tara Ende [middle], John Seale [left] and Lee Sim [right] all had their contracts rescinded in Surry Hills. Photo: Brendan Esposito
The developers of newly completed, or nearly completed, apartment blocks in Lidcombe, Wolli Creek and Hurstville have also rescinded contracts with off-the-plan buyers. 

8 comments:

  1. Funny that you posted. We just came back visiting the site and took some snaps. Yes the driveways aren't finished but there has been progress. One side has cement, but no paving. The side with the lift has no cement, but looks like they've flattened it and is ready for cementing.

    We too were getting worried about the sunset date but a mate of mine in the construction business recently told me that Ceerose wouldn't be the type of company that screws people over. It's only the really dodgy unethical ones that are like that. Still a bit off putting that the whole construction process has been slow but I share the sentiment that Ceerose put quality first, and that the unique location (heritage, in front of light rail) has been the cause of the delays. It also helps that we have banded together through this blog in the event we need to pay Ceerose a visit :)

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  2. guys,I have another question.I visited the site several times but had no access to inside. When purchasing the unit, CBRE advised there would be windows on the top in the kitchen.But from some photos here,I found no upper windows in the kitchen area.Does anyboby know that?

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  3. Hi Kai, these upper windows are a bit of a mystery. Here is a trail of comments from a previous time when people were discussing them.

    Viliala31 August 2015 at 06:34
    It looks fantastic! Thanks to Elana & Graham, this blog has been very informative, especially the photos. Thanks to all the commenting bloggers too!
    Does anyone have any concerns with the high level glazing windows going missing? Based on the photos no one is getting extra light from the atriums into their apartments? I thought that was one of the best features of the HM.

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    Elena Akhromova31 August 2015 at 20:21
    Hi Viliala,
    I noticed the "missing" high level glazing in the picture. However, I noticed that most 2-bed units do not have this feature - so, I hope the picture of the living room+kitchen was taken in one of such units and it will still be there in most 1 bed + study, 1 beds and studios.
    Cheers,
    Elena

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    Mario31 August 2015 at 21:03
    After checking the plans and trying to work out the the apartment level/s that Viliala is referring to. I can only conclude the same. This feature is definitely missing. #refer to plans

    Unless there is some carefully hidden high level glazing, a last minute adjustment (unlikely) or a minor miracle, most apartments facing the atrium may miss out on a fundamental key feature. This will be disappointing.

    Of course being proven wrong would ideal.

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    Graham Hand31 August 2015 at 21:59
    My recollection from a few months ago is that this feature still exists, but perhaps only for certain apartments on the eastern side (for some reason). I had not realised it was missing on the west until I saw these pictures. But perhaps it was never intended for all apartments.

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    Graham Hand31 August 2015 at 21:59
    This comment has been removed by the author.

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    Maria Arsianti31 August 2015 at 22:40
    I hate to say this but I think the high level glazing feature will be missing from the floor plan of 1 br unit even for the Eastern side apartment. I know because I do get picture of my apartment (which sits on the Eastern side) many months ago - can send photos to Elana/this blog if many people wants to see.

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    Mario1 September 2015 at 00:55
    Should this be true.....which seems to be the case.... its a real pity.

    The point of the atrium seems rather redundant now. Not practical, other than "looking nice"


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    Elena Akhromova1 September 2015 at 01:45
    Dear Graham,
    Could you please confirm which unit number is the picture in the previous post belongs to (where the kitchen and living room is shown)? I have most apartment floor plans, I would like to double check whether the high level glazing was supposed to be there... Or maybe a better way to check is to ask the Developer. I agree - it will be such a shame if high level glazing is no longer there for some reason. Kind regards, Elena

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    Graham Hand1 September 2015 at 02:57
    Hi Elena, the photograph in the previous blog was sent to us, so we don't know the apartment number. Maybe a call to the developer. I do know there is no high level window in our apartment, but I did not expect there to be as it's in a corner, not directly next to the atrium.

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  4. Hi Graham and Elana. Thanks for the informative update as always. I have filled the survey.
    Also, I have some photos of the 'missing window' in kitchen which was passed to me. Can you please let me know your email so I can send my photos if this is useful to be shared? Cheers

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    1. Hi Maria, send it to me at grahamhand1@gmail.com. Anyone who has a good photo, send it and we will feature on the blog. Cheers, Graham

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  5. Sunset clawbacks are seriously worrying me, gald we have this blog, the comments offered some comfort and reassurance. Hopefully we can all settle soon.

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  6. Thanks Elana and Graham, and everyone for your comments. I have completed the "off-the-plan survey" and hope most of the HM purchasers have completed this survey also.

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