Quote:
Originally Posted by newkidontheblock
hi wolfgang,
i signed a draft contract a couple of months back but no official contract.
the price is fixed at 75,000 euros.
can i ask what is the main difference between the draft contract and official contract.
at what point can a buyer renage on the sale. i have been informed by the agent that even though i have reserved only i can sell on at any point but there may be penalties in doing so.
As prices are rising in the area i intend to hold on to it
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Hi Newkid
Firstly you cannot legally sell on a reservation contract becuase at this stage you own nothing. You own a contract once you have signed the private purchase contract and made your stage payment accordingly. Only at this stage can you do what we know as a contract resale. (ie sell your contract on)
The current purchase price for banana residential is R$310,500 (approx 115,000€). I assume your contract will state around R$203,000
What reason have you been given for not signing contracts todate? I have seen a very satisfactory due diligence report for this development and believe everything to be in order? Which agent are you using and which lawyer?
Thanks