Quote:
Originally Posted by MishMish
That is the position I am in.... awaiting title deeds in order to complete the sale of my apartment in Greece cluster. Thankfully I did not sign any MOU so price is going up. However that is only because I remained cautious and stalled signing.
I actually had an appointment to handover the unit with Nakheel. The Power of Attorney - Vista Real Estate, were trying to charge me an additional 2% of my SELLING price. I was advised to seek the advise of RERA. Which I did.
RERA advised me they had no right to do this and should log an official complaint again Vista Real Estate. Again I did was I was advised. However I did have concerns that if I lodged a complaint against Vista they would not show up for the transfer. RERA said no don't worry about that they must attend. Well they didn't. As soon as Vista knew they had a complaint against them they refused to attend. RERA left me in the lurch and did nothing to help the situation. I therefore lost my appointment which was in April. Imagine if Id commited to a price then like many others have. In limbo till at least end of July when they estimate Deeds to be ready.
|
You are right RERA is still not geared up for the investor problems. As you said, it's dangerous to go as per what they say.
If they could only apply the same rules what we apply while transferring a car, where the buyer and seller meet at the traffic department and do the transfer in minutes. That eradicates all MOU's, 2% commission paid to the developer, guarantee cheques and all that crap.
Simple, buyer and seller go to land department. After signing papers, the transfer takes place.
In case transfer cannot take place due to lack of documents, the property is locked in the system so that the seller cannot change his mind. The buyer pays RERA the advance amount of say 10% of the value so that the buyer does not default. A clean transcation without much fuss.
What is happening is RERA is not geared for the massive in flow. You have to be there to see the attitude of the employees. People are made to wait for hours.
If you have an appointment in RERA, do not forget to put a parking ticket for atleast 2 hours and tell your boss you will not be in for half a day
Regards
Roshan