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Rent to buy- developer gone bust

barakus · 2010-03-09 23:40:04

Hi All, Just a question, am in a rent to buy deal where I am dealing directly with the developer, about a year and a half in and over twenty grand paid out. 100% of the money that we paid in was due to be removed from the price of the house, as opposed to the official 'rent to buy' scheme where only 80 or 90 % would go…

10-03-2010 12:40am

#1

barakus

Closed Accounts Posts: 399 ✭✭

Join Date: June 2008

Posts: 391

Hi All,
Just a question, am in a rent to buy deal where I am dealing directly with the developer, about a year and a half in and over twenty grand paid out. 100% of the money that we paid in was due to be removed from the price of the house, as opposed to the official 'rent to buy' scheme where only 80 or 90 % would go twoards deposit.
However the developer has just gone bust and am wondering where this leaves me. Should I keep paying rent or cancel payment til I find out whats happening? What happens if NAMA takes over the house, will our deposit account for anything or is it lost money.
Obviously I will be talking to the developer as soon as I can but just looking for advice or if anyone out there is in a similar situation?
Thanks for any replies:)

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