Final payment of 60%/tax of 20%

[jenny]

I understood I had to pay the final 60% on completion and that I had to open a euro account in Morocco. Now Excelia are saying I can pay in Dirham but I dont know if there is catch here. What about getting the money out of the country in the long run? (I have the money in dollars). Or does it all add up to the same thing.
They now say that I have to pay 20% tax although the original contract says 14%
I am in V1 which they say will also be ready in June this year.
Any tips for completing welcome!

[Snippy]

I insisted on paying 14% as I orignally signed the contract in early 2007, AP1, they agreed.

I dont think there is a catch, I just transfered the cash through in sterling and euro to the equivalent amount in DHR, lawyer told me this was ok and wouldnt be an issue on sale. contract mentions euro amounts that i paid.

[kenz]

i dont think it matters if you pay in euros/dirhams/dollars. I paid in a mixture & they didnt try & con us on exchange rates.
They are right that you should pay 20% in vat, even though original contract says 14%. BUT as snippy says you can always argue/haggle.
Be prepared for a long day/couple of days when completing, especially if you want some money off, worth it though.

[jenny]

Many thanks for the replies and the PM, they have offered to reduce the tax to 14% if I pay half of what remains this month ...

[Richard P]

Hi Jenny,

The currency doesn't matter as long as you have proof of where it came from. I don't advise paying the 60%. They will try to add on extra fees when you come to sign the contract. We should have listened to Lixus when he warned us of what they were like. Do not trust them, check everything. The villas have lots of problems and just changing the bathrooms doesn't solve these. The main thing is that your insurance company WILL NOT pay out if the problem is due to poor building. This is the problem I am facing. Alcudia Smir has got worse evry year. Ask Frenchy or Colin to tell you what it is like.
Next year our syndic fees will be very high to pay for all these problems.

J

[riaz]

John,

If you think the villas have problems, you should see AP1. It is a disaster. The quality of the work is poor, the quality of the fittings is the cheapest you can get. I advise everyone not to go ahead with AP1. There are several problems with the build quality and there are very few people doing any repairs. There are very few people working on site. There are many people having to pay for work to rectify the poor build as neither addoha or the insurance will do it. I agree with you about not handing any money over. You will not find one person who is happy with the quality of the apartments on AP1. I think they are doing a better job on the other AP's but there isn't much progress.

[mcneilee]

Exactly why i decided to quit the project.Still waiting for my money tried to offer me a place on ap1 before they stopped all contact.Their are now plenty of other developments.

[Colin]

Ask Frenchy or Colin to tell you what it is like.
Next year our syndic fees will be very high to pay for all these problems.

J

Hi John,

Actually, I went along, completed, paid the lower tax rate, and after I had paid whilst I was there they fixed a few small snagging issues promptly. The quality of the build is pretty much in keeping with the price level, if not better.

Wouldn't say everything is perfect and wonderful, but I'm happy enough.

Incidentally, I'll be out next week for a week, I'll attempt to get updates on timescales of the other parts of the development.

Colin.

[Richard P]

Your apartment is in block 8. It suffered rain damage like the rest. Luckily they fixed it before you saw that!
You have obviously got a good deal from the developer and as the creator of this forum, I am not suprised. How much do you make from them?

[Richard P]

By the way Colin, how are you studies going? And how does a 21 year old student affort to buy 2 properties in playa vista and Alcudia smir and others probably.

Here are a few post I have been sent about you. You may have started this forum but some of us have met and spoken to each other and communicate important issues by email.

Eye on the worldwide
That Carltwoo is one toucky person, most of the Playa Vista forum thinks Carlywoo is a two faced liar re:- Michael Pearce & Sarah Mondays posting & others
Now she is playing mouth almighty on Kabila forum & linning colins pockets with every posting

The Unofficial Playa Vista Forum
Well I suppose I better make a start. My name is Colin Crookston. I have reserved 2 properties at Playa Vista one in phase 1 and an apart-hotel in phase 3. I am 21 years old, come from Falkirk in Scotland and i'm currently a student. Very Happy Very Happy Very Happy So I look forward to meeting you all and hope to hear from you soon!


Colin, you have got yourself a nice little deal with the developer, don't coerce innocent buyers into believing the lies, or is that part of the job?

[Colin]

Aye, very good. I'm far from 21 these days, I'm a banker not a student....

[CARLYWOO]

Excuse me John get your facts right before shouting your mouth off behind a forum I am infact an investor on AP1, I have never met Colin so am far from lining his pockets as you so manly put it. I pulled out of Playa Vista after finding things out about the Directors of Compass.

Lastly for your information I am not a student just incase you were thinking of going down that road I am 37 and I am an Accountant!!

[the kabbie]

Oh God, where you pop up from! Cue foul mouthed rant ..............

[CARLYWOO]

The Kabbie same place you did considering you havent posted since 2008!!!! Please lead me to the post with the foul mouth rant on it oh sorry there isnt one is there gutted!!

[wheresmyjacuzzi]

An accountant and a banker....... I feel safe .