Queensland couple devastated after dream home ripped away

The Queenslanders have been left devastated after they struggled to find a place with skyrocketing prices. Now the contract to build their home has been ripped up.

A couple who were meant to be building their dream home in Queensland have been left angry and distressed after the developer ripped up the contract just nine months after signing it.

Wayne Dunkley said they should have been moving into their new place by Christmas last year, but instead they have been “left in the lurch” and with no land to their name.

At the end of 2020, the couple had sold their home near Bundaberg for $490,000 as part of a plan to move closer to the Sunshine Coast.

They were ecstatic when they found a huge block in the town of Nambour, which was part of a development of 30 new townhouses, and were excited to build their three-bedroom, two-bathroom place with a four-car garage.

But they waited months for the land to be put in their name and it never happened.

Now the couple have been left empty-handed after the developer Solst Pty Ltd activated the sunset clause to terminate the contract.

Their deposit has been refunded but prices have gone up so much they can no longer afford to buy a comparable home.

“We thought we were very lucky as I had hunted high and low for something of value, I found it and waited 12 months and then they took it from us, so its just not right,” the 61-year-old told news.com.au.

“When we first sold, we looked at open homes on the Sunshine Coast around Nambour and we could have bought something then but now because of the massive price increases we can’t,” he said.

“That’s why I think the developer has operated the sunset clause as everything has gone up in value crazily.”

Stream more property news live & on demand with Flash. 25+ news channels in 1 place. New to Flash? Try 14 days free now >

Nambour’s house prices have skyrocketed by almost 40 per cent in the past 12 months with median prices now around $656,000.

The Coles delivery driver said he has been left forking out $300 a week in rent for a duplex on Bribie Island as well as storage costs of $220 a month, while they waited for the house to be built.

“Morally it's totally wrong, they have kept us hanging for over 12 months and I’ve got legal costs, I’ve got rent costs and I’ve got storage costs and we have lost a year of our lives,” he said.

The Dunkley’s had lost 28 at Solandra Estate at Nambour, which was considerably bigger than other parts of the development.

Jane on the lot they no longer own. Picture: Supplied

Sunset clauses are legal in Queensland and have been used on other developments in Brisbane and the Gold Coast.

Other states around Australia have moved to put more protections in place for buyers who are purchasing off the plan.

In New South Wales and Victoria, special laws were established requiring sellers to get consent from the purchaser or the Supreme Court before using the sunset clause to terminate an off the plan contract.

Mr Dunkley said he wanted to warn others not to enter into house and land packages unless they have the land in their name.

“Then at least when you have title you own something and they can’t build on that and take it from you then,” he said.

“You lose your faith in people when this sort of thing happens. People make all sorts of promises and then they take it from you.”

He added people should watch out for the sunset clause when signing on after he received a revised contract that reduced the time to activate the clause from 18 months to nine.

The couple had also paid a deposit of $25,000 to Vantage Homes to build the house, but this refunded by the company.

“As the sunset clause was invoked, the buyers were unable to settle on the land,” a spokesman for Vantage Homes told news.com.au.

“Vantage cannot build a house for a client on land they do not own or land that is not registered. The build contract was terminated and Vantage refunded the build deposit in full.”

Supplied Editorial SCN140222SolandraEstate 2

Some of the houses that have already been built on the estate. Picture: Patrick Woods.

The couple, who had wanted to avoid renovating at their age as they edge closer to retirement, have now been forced to fork out close to $500,000 to buy an older home two hours from the Sunshine Coast, where they will need to rip out the kitchen and bathroom.

“We are back to square one in buying an older house and needing renos,” he added.

“We were going to build our dream home together and now its gone.”

The developer Solst Pty Ltd declined to comment when contacted by news.com.au.

Antonia Mercorella, Real Estate Institute of Queensland CEO.

Real Estate Institute of Queensland (REIQ) CEO Antonia Mercorella said the organisation was aware of some allegations that vendors are exploiting sunset clauses by terminating off the plan contracts to obtain higher prices for lots they are selling in a development.

“If evidence were to emerge that this is indeed the case, this may warrant the introduction of stronger buyer protections,” she said.

She added there is currently no REIQ standard contract for off-the-plan sales, and these contracts are usually drafted by the vendor’s solicitors.

The CEO strongly recommends that buyers get independent legal advice.

“Buyers should understand that once the contract is signed it is binding and depending on the contract conditions, there is no guarantee that the contract will actually reach settlement,” she said.

Have a similar story? Continue the conversation | [e-mail]