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Assume to your detriment

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  #1  
Old 23-05-2008, 04:42 PM
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Default Assume to your detriment

An old man who used to live beside me shared some words of wisdom with me once and I never forgot them.


Never assume son, if you break the word down you get 3 words and in the process you make an ass of u and an ass of me


Ass-u-me


An exmple of this is a clause shown to me today.


As long as the utilities are not provided in definitive form on the handing-over date, .................................... will provide temporary solutions, which cost will be supported by the beneficiary.”


Therefore to put it in laymans terms, you will not have direct access to the sewage sytem and will have to pay for the manual removal of all sewage from the property and subsequent connection to main sewage should this ever become a possibility and at what ever cost.


Does the ordinary 5'8'' when buying property assume anything other than when he flushes the toilet that he will not have to go later and have it taken away, or pay another a tidy sum for removing his ..................?



Stop thinking things will be as they should and clarify they are as you expect, otherwise you are accepting much less than you expect.

Assume nothing other than the person you are buying of has a beneficial interest in you makig a purchase. If you have already bought do a damage limitations and please do not think this is applicable to only Romania, we did not have these problems in Romania before the arrival of the foreign sharks. Blame your own not the Romanian or other nationality for mistakes made.


I would endorse anyone who is closing on any property to seek professional help before paying any further money regrdless what country you are buying in.


David Howe

Investment Romania - Property Romania, Invest Romania, Investment Romania
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  #2  
Old 06-08-2008, 01:11 PM
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I assume (yes, I know that's a bad idea!) that this was a Romanian property? Is that a common situation, with the sewage?

I agree that's a nasty clause to miss, but surely if you're buying a property you read ALL the fine print, several times, then get someone else to check it over to make sure you didn't miss anything.
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Old 06-08-2008, 01:35 PM
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Quote:
Originally Posted by jessicatam View Post
I assume (yes, I know that's a bad idea!) that this was a Romanian property? Is that a common situation, with the sewage?

I agree that's a nasty clause to miss, but surely if you're buying a property you read ALL the fine print, several times, then get someone else to check it over to make sure you didn't miss anything.
The problems I speak of are not just applicable to Romania and if anything more applicable to foreign agents selling.

As for these clauses the UK?Irish agents convince a power of attorney from the buyer and after that it is good look to the buyer.

David Howe LLB. LLM

INVESTMENT ROMANIA - Investment in Romanaia, Property management, Due diligence, Renting in Romania
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Old 06-08-2008, 09:39 PM
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got a spellcheck......good luck
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  #5  
Old 27-08-2008, 05:15 AM
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Ummm. Why don't you ask some of the investors you have worked with in the past?
This is a LEGAL forum--and it has nothing to do with finance or investments.
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