1st home buyer but new build has no progress.

[Meehole]

Purchsed the property through a vendor

Then I guess that your problem is with the person that has the contract with Ravenstone Homes? I would go to Phillip Lee and ask him if he knows what the hold up is. Maybe the vendor is not in a position to complete the build? House prices appear to be coming down and I noticed Universal Homes advertising on tv (something they never do) completed homes and townhouses for sale. Think they have been sitting awhile and they want the cash flow. It could be in your interest to terminate the agreement and find something else already built that someone desperately wants to sell? The market is really weird at present, has been since the elections.

[seith_1031]

Then I guess that your problem is with the person that has the contract with Ravenstone Homes? I would go to Phillip Lee and ask him if he knows what the hold up is. Maybe the vendor is not in a position to complete the build? House prices appear to be coming down and I noticed Universal Homes advertising on tv (something they never do) completed homes and townhouses for sale. Think they have been sitting awhile and they want the cash flow. It could be in your interest to terminate the agreement and find something else already built that someone desperately wants to sell? The market is really weird at present, has been since the elections.

2 weeks ago the agent asked me to contact ravenstone homes, which i did, then they said to contact my agent for updates, in which the agent’s response was: ‘get your solicitor to contact the vendor’

[Meehole]

2 weeks ago the agent asked me to contact ravenstone homes, which i did, then they said to contact my agent for updates, in which the agent’s response was: ‘get your solicitor to contact the vendor’

When you say agent do you mean real estate agent? Have you contacted the vendor directly to ask what is going on? I'm pushy I would be contacting Ravenstone Homes and hassling them for answer on progress. Solicitors are useless.

[donna]

It sounds like you're getting the run-around I reckon FairGo would be interested - they did one just recently so it could be a interest to them. I see there's a few listings on Ravenstone's website - could they be working harder for you? With the right motivation you should see some progress. What you're going through is newsworthy for sure.

cheers,

Donna

[seith_1031]

update on this thread:

2 weeks ago agent emailed me that power and water has been connected and they are finishing the floor, been visiting the site every week and there is zero change. even the rubbish is still there. probably agent is full of bull

emailed ravenstone to ask the general estimated completion date of their 6 build in the area, they asked which particular lot in which i answered 3 lots so as not to raise suspicion that we bought the house but did not reply.

sunset clause is 31 jan 2018, I highly doubt it that they will finish.

sunset clause is very vague, upon our choice to pull out after the said date they will "return deposit with interest" but no interest rate is indicated.

we are preparing to file a case with the REAA for misrepresentation of completion date. do you think we have a strong case? We are losing money as we speak with kiwisaver and other funds already with the solicitor.

In all honesty we work hard to get a 20% deposit then they treat us like this. There has to be a way for them to learn their lesson. Sometimes it's not all about the money.

[Meehole]

Given what I have heard over the past week I would cut and run, get your deposit back and use it for another purchase.
There are more properties being listed for sale and prices are coming back.
Don't worry about trying to teach someone a lesson just worry about you and your family, move on.
Sometimes things happen for a reason and if Ravenstone go to the wall then you have dodged a bullet. No Ravenstone, no guarantee or warranty on their product.

[seith_1031]

thank you for your advise.

being we are in a binding contract with a sunset clause of 31 January 2018, any ideas when can we get out of the contract?

vendor still has not replied and their agent is full of BS. we are getting real tired of their BS.

[seith_1031]

Ok so we visited the site just a couple of hours ago and to our surprise the other 3 houses have rrstarted work bit the other 3 including our one is still pending. Also the other three have changed agents! There really kust be something dodgy going on!

Don’t know what to do anymore.... i just want my money back and move on.

[Meehole]

Seith instruct your lawyer to get your deposit back, no more asking what to do, just do it. Bella Vista homes was in the Herald today has gone into liquidation with 30 homes not yet completed. Probably one of many in my opinion going forward.