LVM Kinnisvara Pärnu

It is worth being careful when signing a brokerage contract with lvm real estate. This contract gives the broker the right to fine you financially. However, if he does not act in your interests, the contract does not protect you in any way.

LVM Linnapiiri residential development, or reservation agreement with LVM, only protects LVM's interests, although at first I can't guess this. Let me explain in more detail: On 01.03.18 I signed a reservation agreement with LVM for the purchase of the house on Orava tee under development. I paid the reservation fee and started making preparations. To apply for a loan from the bank and sell the land to pay the down payment on the house. The time for signing the construction agreement in the agreement was 30.06.18. The first surprise came at the end of March when the broker announced that the builder had submitted a higher price offer than expected, which is why LVM could no longer offer the house at the price agreed in the reservation agreement. After some calculations, we were able to find a compromise and the price of the house increased by about 2,000 euros compared to the original 5,000. As a buyer, did I need to know whether the developer still had a contract with the builder? Now if we think about it, if the builder had made a significantly cheaper offer compared to the agreed price, would the client be happy that we could offer you the house at a much better price? The preparations continued. I ordered a quote for kitchen furniture, went to look at the selection of stone countertops and spent every free moment planning and designing the house. When the bank needed more detailed information in addition to the future value estimate, the broker was very upset and did not understand why this was needed? Finally, the information was presented to the bank. When the bank wanted an exact timetable, it turned out that the original completion date in the spring of 2019 had been pushed back by about 6 months, which meant that I had to turbocharge my plans to sell my cracked house. After almost 3 months of preparatory work, an unexpected turn came at 15.05. The broker Rita Sepp announced that our cooperation was not going well and they wanted to withdraw from the reservation agreement, and at the same time the deposit made with the reservation agreement was also returned. I couldn't believe it. According to the agreement, I had until the end of June and the agreement could only be terminated by written agreement of the parties. A conversation with the board member Ingmar Saksing also brought no change. He explained to me coldly that I may have a reservation agreement, but no one is forcing them to enter into a pre-construction contract with me. The fact is, if I were to start the process today with, for example, an adjacent plot, its price would be at least 6,000 euros more expensive for me. This is LVM's attitude towards its clients. I hope that this story will be helpful to people who need the help of a broker and make a wiser choice of real estate agency. Be warned!