patinsd
Posts:39
 |
| 07/06/2008 12:59 PM |
 Alert
|
| I drove by Aria today to see some protestors in front of Aria claiming some bait & switch @ the purchase of their unit. I talked to them and they seemed like articulate, reasonable, and intelligent folks. They even made it a point to say the building structure is wonderful and the sales staff was fantastic. It apparently was some problem with the developer who changed the number of HOA months paid at the closing of escrow.
Does anyone have any further reports or news of problems with Anka Developments? |
|
|
|
|
|
|
stella
Posts:360
|
| 07/06/2008 1:05 PM |
Alert
|
I saw the protesters out there as well and actually laughed out loud.
If you're not happy with the deal and it's changed materially then I'd think you could just walk away which is certainly what I would do rather than waste a Saturday in the sun with a handmade sign. |
|
|
|
|
stella
Posts:360
|
| 07/06/2008 1:06 PM |
Alert
|
| On the Aria note it's does appear the building is getting a slow trickle of move ins. It really is a nice product, I do wonder if this experience is such a turn off for the developer that they wouldn't try to do another project here. |
|
|
|
|
patinsd
Posts:39
|
| 07/06/2008 1:30 PM |
Alert
|
| The story is a little more complicated than how I portrayed it in my previous post. Apparently, they lost an opportunity at another building because Aria begged them to come in and accept their "better" deal and then unilaterally changed the terms of the deal at escrow -- which by that time, they lost their other opportunity. If I did sign a contract, I might put a clause in their that if a material change occurs on the sellers' end that they pay some sort of a penalty fee -- say $10,000 cash and then you can also walk away. It would force sellers to be VERY careful with what they promise. |
|
|
|
|
stella
Posts:360
|
| 07/06/2008 4:07 PM |
Alert
|
| I doubt whatever opportunity that was lost can't be replaced since the market by any measure is lower now than anytime in recent history. |
|
|
|
|
punstress
Posts:123
|
| 07/06/2008 6:12 PM |
Alert
|
| Did they get that better deal in writing? Why didn't they protest at the closing? |
|
|
|
|
ScottSD
Posts:162
|
| 07/06/2008 7:32 PM |
Alert
|
the guy had an offer accepted at trellis and walked on it because aria accepted his offer. they at first rejected it then sent an email saying it was accepted. he had a print out of the email with him. all was okay then at the last second they told him that some other person who had veto power on the development board said no.
yesterday was a bad day for the aria sales staff. between that guy and my wife having a meltdown because the garage door broke and there was no one on site or anywhere near on sight to fix it. the concierge called the building property manager who didn't answer her cell phone multiple times. |
|
|
|
|
Brian
Posts:2210
|
| 07/06/2008 8:56 PM |
Alert
|
| Why not tell them about SDlookup so they can post their experiences here for all to read? |
|
|
|
|
rwsinmissionhills
Posts:311
|
| 07/06/2008 10:37 PM |
Alert
|
I am not an attorney and I what I am about to write is a collection of random musings from my deranged mind and therefore the following should NOT be construed as legal advice, a threat, a moral directive, the voice of God, etc, etc, etc.; (however:)
IF (by your own free-will, irrespective of what some quack on SDLookup said) you do want to write in some kind of specific performance requirements in a contract, make sure that you also write in a clause about attorney's fees. It'll cost you 10K in attys fees just to collect your 10K in penalty and many attys will not even take your case because they think 10K is pocket change to everyone. (really)
You could represent yourself, but if you have never done it before, it'll still cost a bundle. (really).
Most attys who see that there is some kind of contact that actually provides for attys fees will DRAMATICALLY change their attitude, however. (some attorneys pick areas of specialization (Americans with disabilities) because, by statute, attorneys fees are paid to the prevailing party (even if the award is only $1. And to get that $1, the attorney could run up 100,000s of $$ in fees, especially if the defendant has deep pockets. Some developers have (or had or will have) deep pockets. Ching! Really.)
Don't forget to specify that the prevailing party will also be entitled to costs (filing fees, fees for service of process, investigations, expert witness fees (especially expert witness, fees, if any, etc, --really, REALLY).
Take care to write your contract such that YOU will be the prevailing party in a lawsuit (lest ANY of these conditions come back to haunt you since what is good for the goose is good for the gander.)
Skip paying realtors. They can't offer legal advice, even though they will try and probably succeed in practicing law without a license (unlike myself who NEVER offers legal advice and wouldn't even dream of trying).
If you are going to pay anyone to help you buy property, pay someone who can really go to bat for you and get you to score in the long run.
|
|
|
|
|
patinsd
Posts:39
|
| 07/06/2008 11:00 PM |
Alert
|
RWS has some great ideas. I think an attorney with some good litigation experience could find a niche market in also getting his or her real estate license and handle these transactions. It might provide some protection; it might just provide some piece of mind for those who might want to use a real estate agent on the buy side. And it might give a seller some second thoughts about f-ing over the buyer.
I have also thought that if such a real estate agent only repped buyers in the market (vs. handling both sides of the transaction), it might take some of the self-dealing that occurs between realtors out of the equation. |
|
|
|
|