{"id":33347,"date":"2021-07-11T16:12:48","date_gmt":"2021-07-11T04:12:48","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=33347"},"modified":"2021-07-11T16:12:48","modified_gmt":"2021-07-11T04:12:48","slug":"homebuyers-left-in-lurch-after-developer-backflips-on-sales-three-years-after-deal","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/homebuyers-left-in-lurch-after-developer-backflips-on-sales-three-years-after-deal\/","title":{"rendered":"Homebuyers left in lurch after developer backflips on sales three years after deal"},"content":{"rendered":"<p><strong>PHOTO: Peter O&#8217;Dwyer and his children Charlotte, Savannah and Arianna were excited to move into their new home. <cite class=\"W-g-R _14nkQ _3BwtN _2eB4R _3qdyT _1SWGZ\" data-component=\"Figure__cite\">(<\/cite>ABC News: Simon Beardsell<cite class=\"W-g-R _14nkQ _3BwtN _2eB4R _3qdyT _1SWGZ\" data-component=\"Figure__cite\">)<\/cite><\/strong><\/p>\n<p class=\"_1HzXw\">Peter O&#8217;Dwyer, a single dad with three daughters, bought an off-the-plan townhouse in Canberra&#8217;s north in 2018.<\/p>\n<p class=\"_1HzXw\">The place was perfect \u2014 room for him and his daughters \u2014 and it was also about 500 metres from their mother.<\/p>\n<p class=\"_1HzXw\">But in May the developer, 3 Property Group, rescinded its contract for the Throsby property \u2014 despite having been paid a deposit.<\/p>\n<p class=\"_1HzXw\">&#8220;My heart sunk, it was just devastating,&#8221; Mr O&#8217;Dwyer said.<\/p>\n<p>&nbsp;<\/p>\n<aside class=\"_3fXyV _19G7j _2kQVP\" data-component=\"Pullquote\">\n<blockquote class=\"_2BtlZ\">\n<p class=\"_1HzXw\"><em><strong>&#8220;We would drive past every day for three years and the girls could not wait to move in.&#8221;<\/strong><\/em><\/p>\n<p>&nbsp;<\/p><\/blockquote>\n<\/aside>\n<p class=\"_1HzXw\">3 Property Group said the company had\u00a0been &#8220;blasted by unfortunate events&#8221; \u2013 including a &#8220;significant dispute with the original builder&#8221; \u2013 since the contracts were signed.<\/p>\n<p class=\"_1HzXw\">It said it had re-designed the homes and was still planning to complete the Vivace development project.<\/p>\n<p class=\"_1HzXw\">Canberra is currently in a historic property boom, with values consistently rising every month since April 2019.<\/p>\n<p class=\"_1HzXw\">Mr O&#8217;Dwyer said that left him and his children with hardly any options \u2014 he was forced out of work for six months due to injuries sustained from a motorcycle crash.<\/p>\n<p class=\"_1HzXw\">&#8220;Now we have to try and buy something in this ridiculous market where everything is overpriced it just does not give us a chance,&#8221; he said.<\/p>\n<p class=\"_1HzXw\">Mr O&#8217;Dwyer said he offered the developers an extra $50,000 for the property that was initially his but they refused his deal.<\/p>\n<p class=\"_1HzXw\">The townhouse has now been resold for about $140,000 above what he was originally going to pay.<\/p>\n<p class=\"_1HzXw\">&#8220;That is probably what hurts the most \u2026 and then there is also the three years&#8217; worth of rent I have had to pay,&#8221; he said.<\/p>\n<p class=\"_1HzXw\">Mr O&#8217;Dwyer is just one of several people the ABC has spoken to, who have been impacted by 3 Property Group pulling out of the deal.<\/p>\n<p>READ MORE VIA <a href=\"https:\/\/www.abc.net.au\/news\/2021-07-11\/act-homebuyers-left-stranded-after-developer-rescinds-contracts\/100282216\">ABC<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: Peter O&#8217;Dwyer and his children Charlotte, Savannah and Arianna<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/homebuyers-left-in-lurch-after-developer-backflips-on-sales-three-years-after-deal\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":33348,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478116904,478098512,478098521,478098540,478108865,478116903,478108866,478098519,478098535,478116905,478116906,478116902,478098513,478099465,478098873,478098579,478098510,478098514,478098511,478098509,478116907,478116908],"class_list":["entry","author-data123nz","post-33347","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-3-property-group","tag-australia","tag-australians","tag-canberra","tag-canberra-property","tag-canberra-property-development","tag-canberra-real-estate","tag-home-ownership","tag-house-prices","tag-off-the-plan-townhouse","tag-off-the-plan-townhouses","tag-peter-odwyer","tag-property","tag-property-developers","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-real-estate","tag-real-estate-news","tag-throsby-property","tag-throsby-property-development"],"yoast_head":"<!-- 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