finbar buy opportunity, page-9

Hi Saberx

I haven't seen recent contracts (i.e. Norwood or Subi) but have seen contracts for previous Finbar developments and they were unconditional. I very much doubt that they would have changed that. You could have a look at your friend's contracts if he has already signed up, or give Robin Schneider a call(one of the selling agents for Norwood who has many years experience selling Finbar product).

The selling agents normally make it very clear when they sign you up that the contract is unconditional and you need to be confident that you can settle on completion. My understanding is that if the market has gone up and a buyer can't settle then it might be in Finbar's interest to take the deposit, let the purchaser out of the contract, and resell the unit on market, but if the market is flat or has gone down, then they can enforce the contract to purchase, or take the deposit of the defaulting purchaser and sue for damages (such as the difference between the agreed purchase price and what they are able to sell the unit for on market).