Solicitor to check over contract

[ScottieDog]

Even though AP1 plans have changed and I have no assurance that my original allocation will not be affected (although I have been told that it is unlikely that they will); there are no building permissions; and no bank guarantee - I am still under pressure to sign the "contract" by the end of the month i.e. tomorrow....

I have yet to hear what my solicitor has to say, but I am certain that I will not be bullied into signing contracts that I am not happy with. I will take the option to walk away.....

SD

[shak]

Pinky. If I was you, I will not sign until you have the outstanding matter soughted out in writing before. Once you have signed they will than duck and dive and play the blame game.

If Fadesa has good faith and wish to provide in writing. Why cant they do it before as it is right and proper.

good luck

[Pinky]

Yep, I quite agree. They will have to confirm in writing before I sign. I've been in contact with my agent at property showrooms and he is in contact with Fadesa. I suspect he will have more luck than me on my own!! There is power in numbers!! It just annoys me that 2 weeks ago when I brought this to Fadesa's attention they said they would amend the contract, now a day before signing they say contracts cant be changed and they will send details after signing!! Everyone beware!! Is there anybody out there that has already signed??

[shak]

Welcome to Fadesa

[romablade1889]

What are you all signing up to?

The new plans for AP1 and AP4 haven't been published yet so you could be signing up for an apartment facing the bins out the back of the hotel...

I for one won't be signing anything until I've seen my allocation on a plan and luckily my agent has the same view and has returned all the contracts to Fadesa without passing them onto their clients...

Also, logic suggests that, if AP1 was sold out (which is the case and is why many of us were moved to AP4) and they have to reduce the density, then some of you will be moved from AP1 to AP4 once the new plans are complete. As such your allocation will change.

[mcneilee]

they also might be feeling the presure of other big developers coming in & want to tie people in to stop any potential pouching. Still would like to see who most people use as solicitor as being with the one who represents the most people could still be advantagous.But as time go's on might be better offers from other developers

[Pinky]

Had full report back from cba today, who basically said not to sign until the contract had these things included.
1 Proof of title to the property ( proving that Fadesa own the land)
2 Full description of property and what is included eg fixtures and fittings in detail and quality of materials etc.
3 As a co-ownership is involved , where we jointly own ,say, common areas like gardens, swimming pool etc We should see what rules are stipulated before we sign. They should be supplied with contracts.
4 We should see a copy of planning permission approval.
5 If you are thinking of re-sale before completion you need provisions in the contract entitling you to assign your right to third parties without conditions.
6 A Quality chart should be prepared and agreed BEFORE signing contracts, if not yet available provisions should be made in contract enabling you to walk away and not suffer any penalties if you do not agree it at a later date.
7 The seller should introduce a special clause known as condition suspensives that allow you to break the contract, if conditions are not met without loosing any money paid
8 Contract must contain reference and state clearly that the appartment must be delivered to you by the seller free of all charges and debts and other encumbrances.
8 Bank guarantee needs to be in place and certificate be with you before signing.

9 Contract should state how the appartment will be delivered to you with regards to water electric and other services.

Basically we need to make sure everything we are expecting is written in the contract BEFORE we sign, once we have signed and committed ourselves it would be too late to get any thing in the final act.


HOPE THIS CHEERS EVERYONE UP !!

As you would expect, myself and my agent have been trying to contact Fadesa who suprisingly have gone quiet and unobtainable. Not returning calls etc. So I pressume just wait and see what they come back with!! It feels like they are not very keen to do business

[ScottieDog]

Via my agent I've been told by Fadesa:

"We are closing the month this friday. Can you please make sure we have
this contract back by then."

I've been led to believe that if I don't have my contract signed by this Friday then they will release my apartment for sale.

Hey ho, if they want to bully me into signing a contract for a property that has no planning permission then I'm better off without them

We'll see if they follow through on Friday.

There's always Kariat Smir

SD

[romablade1889]

ScottieDog,

I don't even have my contract yet so I can't see how they can force others to sign by month end.

I think this is down to my agent who has stood firm and refused to pass on contracts to clients until the revised plans and re-allocations are completed.

Typical sales tactics. A bird in the hand is worth two in the bush so I'd wager they wouldn't stand by their implied threat...

If I were you, I'd stall by asking the questions posted a couple of messages up from this one...

[ScottieDog]

Fadesa hadn't even sent the contract to my agent - I had to fax a copy to them yesterday.

The contract came direct to me from Fadesa - the only time they have contacted me direct. All other communications have come through my agent - not exactly a consitent process...

I'm trying to get my solicitor to ask some questions by the end of this week - put my line in the sand so to speak

SD

[Pinky]

Scottiedog, wheres Kariat Smir ? and how much are they on for?? Im thinking the same way as you at mo!!!

[ScottieDog]

http://www.kariatsmir.com/

[mcneilee]

i'm looking else where for another better development as it's all quiet from fadesa & those dodgie contracts as i am not with an agent would more likly get shafted by them

[mcneilee]

well seems they are still trying to sort things out at the london office look on the bright side another months interest. i think their patients is running thin as to regards to me
maybe all the hassle from the agent's have made them redo the contracts

[romablade1889]

http://www.kariatsmir.com/

Prices for Kariat Smir are:

Prices from £63,000 for a 1 Bedroom Apartment
Prices from £68,000 for a 2 Bedroom Apartment
Prices from £111,000 for a 3 Bedroom Apartment

http://www.insight-morocco.co.uk/morocc ... state.html