Decision in dispute in Stockholm’s District Court between Brf West Side Solna and homebuyers
Stockholm’s District Court has today announced its decision in the dispute between Brf West Side Solna and a couple that had signed a pre-purchase agreement to buy a cooperative apartment.
The court denied all the buyers’ claims and ruled in favor of Brf West Side Solna.
The buyers’ had requested the District Court to order the housing association to repay their SEK 25,000 deposit and certain interest. In the proceedings, the buyers claimed that the pre-purchase agreement was invalid due to non-compliance with certain formal requirements prescribed by law, and that the buyers, in the alternate, had a right to terminate or rescind the agreement. The buyers also sought compensation for their litigation fees.
In its judgment, the District Court confirmed Brf West Side Solna’s assessment that the pre-purchase agreement was valid and held that the rescindment/termination was unfounded. The judgment also confirmed that Brf West Side Solna is entitled to damages due to the couple’s refusal to enter into a purchase agreement and ordered the couple to pay the litigation costs incurred in the dispute.
The apartments in Brf West Side Solna are expected to be ready for moving in during the third quarter 2019.
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About SSM Holding AB (publ)
SSM produces functionally smart and affordable homes with attractive common areas, close to public transport and the city center for the company’s target group – the urbanites of tomorrow. The company envisions a housing market that is accessible to as many people as possible and aspires to produce 50 percent cooperative apartments and 50 percent rental units. SSM is the leading property developer in its niche within the Greater Stockholm area and at end of March 2019, the company has approximately 6,200 building permits in its portfolio.
SSM has been listed on Nasdaq Stockholm (Small-Cap) since April 6, 2017. www.ssmlivinggroup.com