Comments on: Condo developers sued

By: Walter E. Wallis

Walter E. Wallis — Wed, 15 Nov 2006 13:13:37 +0000

My E&O carrier advised against my getting involved in anything larger than 6 units because of the litigation.

By: markm

markm — Wed, 15 Nov 2006 12:16:02 +0000

The first thing I wondered was exactly what the contract said about cancellations. Surely, no developer would be so stupid as not to include an escape clause?

Scrolling way, way down through the linked article:
“And, as required in the purchasing agreement in the event that the project was canceled, the company has already returned buyers’ deposits, in most cases 20 percent of the purchase price, with interest,”

By: Deoxy

Deoxy — Wed, 15 Nov 2006 10:33:41 +0000

I’m not a big country fan, but you know, evry once in a while, it just fits too wll:

“Darned if don’t, danged if do.”