The student dormitories case in Haifa: the buyers will get their money back - voila! Real estate

Visualization of the "Student Dormitory" project in the lower city of Haifa (photo: screenshot, YouTube)

The case of the student dormitory project in Haifa came to an end this week, when the sales law commissioner at the Ministry of Construction and Housing, Amit Grady, signed with the developer Jeffrey Pitosi an outline for correcting the violations of the law and the deficiencies found in the project.

As a reminder, at the end of last October, information was received in the Department for the Protection of Apartment Buyers in the Ministry, according to which a violation of the Sales Law was suspected in the student dormitory project in Haifa ("Steps"), at 5 Hassan Shukri Street in the city.

Upon receiving the information, Grady initiated administrative proceedings against the project's developer, Jeffrey Pitosi.

After an investigation that lasted about three months, this week, as mentioned, the administrative procedure ended by way of an outline to correct all the deficiencies and violations of the law, and the developer was imposed, among other things, a financial sanction in the amount of NIS 271,000.

The full outline that was signed

Also, including the outline that was signed, that the developer will allow every buyer of an apartment in the project to cancel the purchase and get their money back;

will return to all the apartment buyers in the project who canceled the purchase along the way, sums collected from them with regard to legal expenses and in accordance with the maximum set in the regulations, and will also return to all the apartment buyers in the project funds that were collected from them and exceed 7% of the value of the apartment - the maximum amount that the law allows the seller of an apartment to keep without Give the buyer security for the funds.

This will be done by means of a written appeal to all buyers, which includes a calculation of the refund due to each buyer.

In addition, it was decided that Fitosi will contact all the apartment buyers and update the sales agreements with the missing details in accordance with the provisions of the Sales Law.

Did you purchase an apartment in the project?

The Ministry of Construction and Housing announces that apartment buyers in this project are invited to contact the Department for the Protection of Apartment Buyers in the Ministry, in all matters related to the implementation of the plan in front of them.

"Our concern is for the public interest and the apartment buyers. In this case, signing the plan with the developer is a solution to all the problems that arose in the contracts with the apartment buyers. On the one hand, the developer took responsibility for the deficiencies and violations of the law that were found and is working to correct them All contracts, by way of refunding money and giving options to cancel contracts without compensation, and on the other hand, the developer will pay a financial sanction, as stipulated in the law, which also aims to warn any apartment seller who wants to circumvent the provisions of the Sales Law and harm the buying public."

• Real estate

• news

Tags

• real estate