Protect New home buyers
This petition had 152 supporters
A loophole in New South Wales legislation is allowing developers to cash in on the boiling property market by backing out of deals before contracts have been exchanged.
The practise, dubbed the "sunset clawback", lets developers take a deposit and hold it for a lengthy period while construction is underway, then rescind the deal when the project is all-but finished and resell to someone for a higher price.Sunset clauses allow either party to rescind a contract if certain conditions are not met, but are increasingly being used by developers, leaving buyers priced out of the market with their original deposits. The clauses are standard in such contracts and are perfectly legal.
There are 100s of home buyers who are impacted by this. Recently many news articles came on this .There are many people who lost their dream house and going through stress and depression. We need to request assistance for those who are impacted and to protect future buyers.So We are urging you to sign this petition.
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Suraj Siddique needs your help with “Premier NSW, Prime Minister Australia: Protect New home buyers”. Join Suraj and 151 supporters today.