Ms. Wang bought 14 apartments in a property in Wujiaba at a price of more than 11,000 yuan per square meter in November last year, with a total price of more than 14 million yuan, but in September this year, the price of the property dropped to more than 8,000 yuan per square meter.
Ms. Wang said she bought 14 condominiums with the intention of making them into hotels, “I paid in full for four of them, and two were loans, and paid more than 5 million yuan in installments for the remaining eight,” Metro Times reported. She said, “Now I hope the developer can return the 5 million yuan installment of 8 suites to me, and I don’t care about the other 6 suites that I paid for.
Ms. Wang recently went to the sales department and the property consultant showed the contract. After a careful reading, it was found that Ms. Wang had signed 14 sets of purchase contracts, each of which contained a “subscription agreement”. The second clause of the “purchase agreement” for a house with an area of 87.88 square meters and house number 1214 reads, “The unit price of the house subscribed by Party B (Ms. Wang) is RMB11,464.53 per square meter, and the total house price before the discount is RMB1,007,503.
According to the report, Ms. Wang also presented a price list calculated by the property consultant, and the total price of the house with house number 1214 after the discount was RMB 936,978. If the calculation is based on Ms. Wang’s statement that “the lowest price is 8,000 yuan per square meter,” then the total price of the house is now just over 700,000 yuan. The price difference between this price and Ms. Wang’s original purchase is about 200,000 yuan.
Did the property price “drop by 25%” as Ms. Wang said? The developer’s staff said that it is normal for developers to adjust concessions according to market dynamics, and the listings are one room, one price, and the price of each set of properties is not the same.
The staff said that the paper contract signed by both parties has legal effect, and according to the contract, the customer needs to pay the agreed amount within the agreed time until the full amount is settled. If Ms. Wang wants to return the house, according to the contract, Ms. Wang needs to pay the liquidated damages stipulated in the contract terms.
However, Ms. Wang is unwilling to accept such a solution, and the two sides are still negotiating.
According to the report, Liu Chun, a lawyer from Yunnan Tianwaitian Law Firm, said that unless both parties agreed in advance that the price of the property could be changed, if the contract agreed that “the purchase price would not change due to the rise or fall of the price of the property”, then no change could be requested. If there is no agreement on the change of the price in the contract, the price will change with the market, which is a commercial risk that the purchaser should bear.
In this regard, some netizens support and sympathize with Ms. Wang, while others say that commodity houses are originally commodities, and it is normal for prices to rise and fall.
Recent Comments