SAN FRANCISCO, May 27, 2005 (PRIMEZONE) -- Condominium purchasers who had signed Reservation Agreements and paid deposits for specific condominium units were recently notified that they had to agree to a higher purchase price or their condominium would be sold to someone else at the higher price.
Condominium purchasers were required to sign Reservation Agreements and make deposits of $10,000 to $25,000 to purchase specific condominium units for a guaranteed price at the Vegas Grand, an 880-unit luxury condominium project now under construction in Las Vegas, Nevada.
Then, after Las Vegas real estate prices skyrocketed, the developer notified buyers on April 25, 2005, that if they wanted to keep the condominium for which they had already paid the deposit, they would have to agree to a significant increase in the price of their condominium. If a buyer did not agree to the higher price, their deposit would be returned and the condominium reserved for them would be sold to someone else at the higher price.
Green Welling LLP was asked to investigate and file a class action lawsuit if appropriate against Del American, the developer, and other related parties involved in the Vegas Grand condominium project.
Green Welling LLP is a law firm that handles nationwide class actions and complex litigation. To learn more about our firm, visit on the web at www.classcounsel.com. If you signed a Reservation Agreement for the Vegas Grand condominium project and would like more information, please contact Robert Green by email addressed to GW@classcounsel.com.