Las Vegas Real Estate Report

Las Vegas condo developers behind the Vegas Grand condominium project are facing down a class action lawsuit being filed on behalf of five individuals who claim the developers failed to honor prices that were established when they reserved their units. The developers now are requiring prospective buyers to pay higher prices in order to convert their reservations into purchase contracts.

According to the Las Vegas Sun, developers of this block of luxury condos claim that Las Vegas real estate construction costs have risen dramatically, requiring them to raise the prices. They further claim that the reservation contracts were subject to cancellation by either the buyer or the seller.

This entry was posted on Monday, May 30th, 2005 at 10:59 am and is filed under Las Vegas Real Estate News. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.