Now that we have so much to talk about again, we will try to resist saying too much in any one post because no doubt this is going to drag on for quite some time. Two big questions immediately come to mind from this news: Are there more lawsuits coming and why these 4 buyers?
We of course can only speculate on the answer to both of these. On the first, I guess the answer is we’ll see. I am thinking if I were MCL I might do more, especially if I was very confident that I would win. But I am not qualified to make such a judgement so take that with a grain of salt.
On the second question, why these 4, I can share with you this. All 4 buyers were in the 200K – 300K price range on the lower floors and were scheduled to close in wave 1. I am speculating that all of them had the means to close but didn’t. This would be consistent with the lawsuit MCL shared with us where the buyer was sued by the Developer and lost.
Every contract is different so it does not mean these folks will lose. I know one thing: if I was one of these folks I would certainly want to talk with the other 3. If you are one of the 4 and would like to talk with the others please contact the blog at Vuebuyer10@yahoo.com. I wish these 4 luck with their decision to close or litigate. A lot rides for all concerned (MCL and the pre-sales buyers) on if they do decide to litigate and what the result of that litigation is.