2014-07-06

Construction Stopped, Developer Missing, Owners Out 50% Down Payment

When a developer stops work on the project, there's the potential for a default on bank and trust, suppliers and workers to go unpaid and home buyers to be trapped after having made the down payment. That could be the case now in Changsha, where a developer stopped work due to lack of funds at year end and is now missing. Some buyers were also cheated on the down payment—they only had to pay 30%, but were told by third party sales agents that 50% was required. Some owners have contacted lawyers and have demanded refunds.

楼盘资金断裂开发商失踪 业主心急如焚后悔不已
"Year after no longer continue with the work, do not know when to submitted, not contact the developer in charge." Recently, the real estate owners, and many others to the newspaper reflected Ms. Zou, saying Venus is located in the middle Yuelu District Yuyang West Square [ News Price apartment Review ] currently has been suspended due to funding chain is broken for many months, the owners worried.

Is due to the financing of capital chain tight

Can be seen faintly across the street from the West Plaza Yu Yang still hanging huge outdated advertising "buy large red end of the year, a price of 6,666 yuan per square." Went into its marketing center, deserted empty fall, only one is still sticking to the foreground the work. "Now we do not re-sell, the entire state is entertained, the developer makes the project stopped due to funding constraints." Currently consists of a local agency sales agents of the project, in fact, even earlier by the Central Plains real estate agent. According to informed sources, Yu Yang West Plaza also owed ​​some of its current sales agent commission real estate company.

In the marketing center on the second floor, the reporter found a group sales manager Yan Yu Yang Shen, he said, "the owners are understandably worried about the house, currently subscribe or have signed a purchase contract about 500, is still within our control, the company The legal representative is also in communication with the government there. projects with a total gross area of ​​over 80,000 square meters, in June 2013 the first opening, December 15, 2013 the second opening. main cap works completed years ago, years after the main work stoppage, due to funding constraints developers are financing which is expected to start within a month. "

"Discovery cheated, requiring check-out . "

Just when reporters interview conducted, the owners took a lawyer's letter came.

"Lawyer's letter sent a few of you do not receive, to you Yuyang Group office is to be found the company responsible person, anyway, this house I was given a refund." Chen (a pseudonym), said last October bought Yuyang West construction area of about 90 square meters of apartment dwelling, was priced at about 7,755 yuan per square meter, when she bought a house when she lied to Centaline Property Consultants say 50 percent down payment is required, and in fact, she was the first time home buyers only required 30 percent down payment. "Property consultant said that the house must be 50 percent down payment to buy, I have not signed a contract, the developer gave me a network to sign here, and later found cheated, I immediately asked check out. Can always find can be solved The person in charge of this matter, I liquidated damages themselves. "

Work in Hangzhou, Chen has repeatedly delayed to check out the work to Changsha, Yu Yang Yan Shen Group Sales Manager, said, "I had to reflect this matter to the above, but the company is now the case here." Made careful never to tell Chen when it can complete check-out, and even the company responsible for the telephone, he refused to disclose. Chen said, "I have to go to your office several times, each time not touch your boss, and now the total drag is not a thing, I mean, I'm checking out now, you do not have the money to me it does not matter , just make IOUs to I can. "Shen communicate with words no results for nearly an hour after the end, Ms. Chen had disappointed and go," I now live in this neighborhood of the hotel, because every day to run this big spending , round-trip fares are well thousands from Hangzhou to Changsha, and now I have to quit his job, after all, more than 20 million, was a hot head, it looked twice room immediately start buying, and now regret it. "

After a few days, Chen telephone contact reporter said, "developers there and I saw a side of veterans, but we always talk about is wrong, he actually said I cheated 5 percent down payment is deserved, to resolve the matter in the end I still have to litigate. "Chen over the phone is very helpless.

■ reporter observed

Responsible developers do

Capital chain tight, after the main development work stoppage, the owners cheated 5 percent down payment, check out the abnormal bumpy road. Recently, due to funding development of the main chain is broken news spate of downtime, why frequently staged such an event, it is worth pondering.

As a responsible developer, real estate investment should be careful, but should do what, this is not only responsible for yourself, but also responsible for the owners, especially in the current property market slowdown, bank policy adjustments, if there is not enough the strength of the support, it is best not to get involved in the real estate industry. Once such an event occurs, the developer should actively confront and seek ways to solve the multi not deceiving, but can not fool ourselves, we must remember that the owners will always be God.

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