⚠️ PROPERTY DEVELOPMENT DEALS GONE WRONG: 3 March, 2025
Be careful who you trust with your property! 🏠
Two Auckland families recently lost their homes after joining “joint ventures” with a developer who promised to build multiple units on their land. They believed they were part-owners in the deal, but ended up homeless when the companies were liquidated and properties sold.
Always get your own independent legal advice before signing ANYTHING related to your property. Don’t rely on promises – make sure everything is in writing and properly explained.
Be warned also when you see very high management percentages or high fixed monthly fees.
Remember: If it sounds too good to be true, it probably is! 💯