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Deposit recovery

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  • 17-11-2010 2:03pm
    #1
    Miller80
    Registered Users Posts: 121 ✭✭


    Hi, Im just wondering has anyone any experience of trying to recover a deposit paid to a builder for a house. Paid a deposit of €25,000 in feb 2007, purchase price was €320,000. House was to be finished within the year. Still not finished. Contract is rescinded but now trying to recover deposit. Any experiences or views would be appreciated.


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    #2
    shaunsweb
    Closed Accounts Posts: 57 ✭✭shaunsweb


    Couple of things come to mind here.

    1. Did the contract explicitly state that the house was to be completed in a year from signing? If so then builder is in breach of contract in which case you should get your solicitor to advise you on how to proceed. However point 2 comes to mind

    2. Is the builder in receivership/liquidation? If so, and assuming the contract is verified as having been broken by the builder; you will be regarded as a creditor (ie you are owed money) and will have to go on the creditor's list. You may be lucky to see anything out of it as the creditors' list for developers is usually a long and distinguished one with Revenue Commissioners being high on it

    Either way, you solicitor should be you first port of call because in this day and age, the money is better in your pocket and you want to recover it (or a portion of it at least) sooner rather than later.

    Good luck with it


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    #3
    Miller80
    Registered Users Posts: 121 ✭✭Miller80


    Thanks very much Shaunsweb for your quick reply.
    It is a yes for both your questions, it did state in contract that house was to be finished within 12 months but unfortunately the builder is in liquidation and site is only half finished.

    Went to my solicitor at the start of '09 but it can be hard to understand where its at!
    Its going to be tough to get anything out of it...


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    #4
    shaunsweb
    Closed Accounts Posts: 57 ✭✭shaunsweb


    Thought just occurred to me. It might not hurt to see if the builder is a Ltd. company or if he is acting as a sole trader and then discuss the results with the solicitor.


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