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TANGIER - City Center Apartment's - Page 2

 
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  #11  
Old 06-03-2008, 05:04 PM
misch.chief misch.chief is offline
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There's some great deals in Tangier. Around a year ago I was talking to guy from Compass and he told me of the great deals...
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  #12  
Old 15-05-2008, 05:17 PM
Na Fianna Na Fianna is offline
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I have been told by my solicitor that they could not establish good title on the Tangier City Apartment, furthermore it appears that investors are being requested to sign open contracts. My solicitor left the decision to me to sign or not to sign so read below let me know wht you think?

I am now thinking of processing a letter to forward to the Moroccoan Government with a view to highlighting the poor behaviour of the developer and agent of the development. Not for any other purpose than to highlight the fact that the Kings 2010 Plan Azur is being destroyed and so is Morocco's reputation as an investment area by such bad behaviour.


From day one these companies appear to have undermined the trust relationship by refusing to adhere to the legal requests from my Moroccan solicitor in establishing good title. The developer has withheld the information required to bring about a resolution to the problems. They argue and the may have a point, but I don't think so (let me know what you think) they will not refund the reservation because I did not complete and submit the "open contract" they forward to me.

They claim that I have not adhered their requests to sign the contract and I am not entitled to a refund because the property could have been sold in the interm and that my reservation states that I am not entitled to refund after the cooling off period. Legally they have a point!

But here is the interesting thing.

The developer has intrapped investors by designing the contract to either keep your reservation fee.

Or drag us through the long build process.

The developer can walk away from the Tangier city development tomorrow and investors can do nothing about it if you have a clause in your contract in the PRACTICAL EFFECT: 2. states (company name in section). will not be held responsible for any unforeseen delays. In short that leaves the contracts open ended and if completion was summer 2007 they can complete in 2020 once you have entered their contract so it appears.

(1) If there is no new completion date given this means the development can drag on for years regardless of what you are told.


(2) In my contract the description of the property being purchased is unclear again another problem, it has been highlighted to me that indicates that the legal department is unsure of what property I am actually purchasing because the contract does not specifiy correctly in its wording. MIGHT BE DIFFERENT FOR YOU FOLKS NOT SURE.


(3) Did any of you recive the full plans to the development with your contract. I have not received the plans to the development or the apartment I am purchasing. Did everyone get their plans with their contract?
Again how can something be legally registered if you have no set boundries with your plans. (Problamatic?)

Did anyone esle encounter these problems? (Just to make it clear that I have no axe to grind with the developer or the agent. Niether am I an agent using the forum for proganda usage). But I now suspect that the delay in the completion date for example might be due more to the ownership of the land on which the development is being constructed. If good title cannot be established legally this often indicates that the developer can not pass on what he does not own? Not sure but I think I might have to cut my losses what do you's think?
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  #13  
Old 15-05-2008, 06:45 PM
sdvpm sdvpm is offline
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.
Quote:
Originally Posted by Na Fianna View Post
I have been told by my solicitor that they could not establish good title on the Tangier City Apartment, furthermore it appears that investors are being requested to sign open contracts. My solicitor left the decision to me to sign or not to sign so read below let me know wht you think?

I am now thinking of processing a letter to forward to the Moroccoan Government with a view to highlighting the poor behaviour of the developer and agent of the development. Not for any other purpose than to highlight the fact that the Kings 2010 Plan Azur is being destroyed and so is Morocco's reputation as an investment area by such bad behaviour.


From day one these companies appear to have undermined the trust relationship by refusing to adhere to the legal requests from my Moroccan solicitor in establishing good title. The developer has withheld the information required to bring about a resolution to the problems. They argue and the may have a point, but I don't think so (let me know what you think) they will not refund the reservation because I did not complete and submit the "open contract" they forward to me.

They claim that I have not adhered their requests to sign the contract and I am not entitled to a refund because the property could have been sold in the interm and that my reservation states that I am not entitled to refund after the cooling off period. Legally they have a point!

But here is the interesting thing.

The developer has intrapped investors by designing the contract to either keep your reservation fee.

Or drag us through the long build process.

The developer can walk away from the Tangier city development tomorrow and investors can do nothing about it if you have a clause in your contract in the PRACTICAL EFFECT: 2. states (company name in section). will not be held responsible for any unforeseen delays. In short that leaves the contracts open ended and if completion was summer 2007 they can complete in 2020 once you have entered their contract so it appears.

(1) If there is no new completion date given this means the development can drag on for years regardless of what you are told.


(2) In my contract the description of the property being purchased is unclear again another problem, it has been highlighted to me that indicates that the legal department is unsure of what property I am actually purchasing because the contract does not specifiy correctly in its wording. MIGHT BE DIFFERENT FOR YOU FOLKS NOT SURE.


(3) Did any of you recive the full plans to the development with your contract. I have not received the plans to the development or the apartment I am purchasing. Did everyone get their plans with their contract?
Again how can something be legally registered if you have no set boundries with your plans. (Problamatic?)

Did anyone esle encounter these problems? (Just to make it clear that I have no axe to grind with the developer or the agent. Niether am I an agent using the forum for proganda usage). But I now suspect that the delay in the completion date for example might be due more to the ownership of the land on which the development is being constructed. If good title cannot be established legally this often indicates that the developer can not pass on what he does not own? Not sure but I think I might have to cut my losses what do you's think?
Hi,

There are 6 blocks of apartments ours is the last to be completed in upto 3 months.
The last time I visited the other 4/5 where inhabited. I will assume that they have the title deeds in place.
It may take longer for our block because I think there was a delay in getting the habitable licence.
The developers need to complete the appts as soon as possible to get the remaining 50-70% completion money.
I am not too worried, but very frustrated all the same.
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