I'm currently out of FRI, but like the company, but not comfortable with circumstances ATM.
Anyway, I was in Perth about 4 or 5 yrs ago, at the time of the previous property downturn, and there was a news item about a development in North Fremantle, where people had paid their deposit on what was to me ridiculous prices on this highrise there. They were talking of losing their deposit and walking away, but the developers stated they they would sue. Don't know what eventuated, but the developers were adamant of their rights.
These were $m units, so you'd expect the buyers were of some affluence to be able to sue. Buyers of cheaper properties may not be worth suing however.
Looking for spooks, page-3
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Mkt cap ! $228.5M | |||
| Open | High | Low | Value | Volume |
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Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 50000 | 82.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 87.0¢ | 4597 | 1 |
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