Developers face legal action for canceling reservation agreements:
The Vegas Grand luxury condo project and the Krystal Sands project developers face
legal action in separate lawsuits filed against them by different law firms.
In the Vegas Grand project's case the developer Del American the Florida based company unilaterally cancelled the reservation agreement. The buyers were given the option of either purchasing their units at a higher price or getting a refund of their $25,000 deposit.
The lawsuit filed by law firm Marquis & Aurbach seeks to make the reservation agreements enforceable and make the developers to honor their commitment. After all the developers had taken a deposit to honor their agreement. Once a contract was formed, the seller cannot unilaterally modify the terms of the agreement, the attorney for the law firm said.
A similar lawsuit was filed against the developers of Krystal Sands when the project was cancelled after the project changed hands. Here too the buyers were left high and dry by the developers. Wills Kemp a Las Vegas based lawyer is fighting on behalf of buyers on this case.
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