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House in an unfinished estate...

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  • 27-02-2012 10:20pm
    #1
    TheDuderino
    Closed Accounts Posts: 94 ✭✭


    A few years ago I bought a house in an estate, only half the houses were built at that time, but the plans showed how the estate was planned. The second half already had mounds of earth, excavations etc.

    Now in the present, the estate is with the receiver. I very much doubt the second half of the estate will ever be built.

    Two questions:
    1) Does the receiver end up with all assets AND liabilities?

    2) Can it be argued I bought a house that was sold as part of a completed estate - the environs of a house playing a part of any house sale. If half the estate is never going to be built, I then bought a house that doesnt reflect its description, then can I, at the very least, claim compensation for the mismatch between what was promised and what was delivered?

    I know this would probably never work... but...
    Just wondering if there is any weight to the arguement


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    #2
    antoinolachtnai
    Registered Users Posts: 9,791 ✭✭✭antoinolachtnai


    A few problems:

    1. There is no requirement for a house to match its description. It is not like a consumer good.

    2. Who would you claim compensation from? The developer has more debts than assets.

    The receiver has neither the assets or the liabilities. His main job is to sell the assets on behalf of the secured creditors (the bank).


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    #3
    pawnacide
    Closed Accounts Posts: 228 ✭✭pawnacide


    It's a massive problem with hundreds of estates in the same state. Unfortunately there is no recourse that is of any practical help. As regards the future possibility of the estate being completed that depends on the location. Two estates in my town which were unfinished eyesores have recently been sold and the new builder is completing them but it is a county town.

    Estates in smaller villages are unlikely to be finished.


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