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Common Areas in development

wetdufflecoats · 2012-03-14 09:24:14

Hi all....i'm in the process of buying a house in a development where the developer has gone bust is still named as a director of the management company of the estate. The common areas are in his name and he refuses to hand over the common areas to the management company despite my solicitor naming this as a condition of…

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14-03-2012 10:24am

#1

wetdufflecoats

Registered Users Posts: 26 ✭

Join Date: June 2009

Posts: 16

Hi all....i'm in the process of buying a house in a development where the developer has gone bust is still named as a director of the management company of the estate.
The common areas are in his name and he refuses to hand over the common areas to the management company despite my solicitor naming this as a condition of sale. The management company are €50k in the red and its likely that he is not following the residents for the outstanding monies as he was the one that sold them their homes in the first place.....is this a valid reason to walk away from this property??

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#2 14-03-2012 11:02am
Paulw

Registered Users Posts: 13,381 ✭✭✭✭

Join Date: September 2001

Posts: 12567

With that state, I wouldn't buy there.

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