rbt
Senior Member
I bought my loft in June - the building was complete bar detailing by this point and my unit had cabinets, bathroom things and a lot of fittings in place.
...
A month has passed and i'm still no closer to taking occupancy. My unit is done bar the cleaning and a lick of paint here and there. Floors are down, appliances are in. I walked around it yesterday and the ac was on...
If you're not in the unit and had a mid-July occupancy date, then compensation is certainly to be expected *if* you eventually occupy the unit.
I have no idea what would happen in the developer opted to back out of the contract and give you back your deposit. Your lawyer could answer that question.
It sounds like your unit has long been ready for occupancy (technically you don't even require counters, let alone painted walls or clean floors). I'm surprised they didn't shove you into the building anyway to avoid penalties and start collecting rent payments.
I would have thought someone declaring bankruptcy would scramble to get the easily accessible dollars available, or that the lenders didn't insist proactive steps to ensure debts did not continue to increase.