Overseas Property News News Overseas Property Forum Forums Overseas Property Blog Blogs Overseas Property News Sales Terms & Conditions Acceptable Use Policy
Take Down Policy Privacy Policy Contact Us
Property in Australia Australia Property in Bulgaria Bulgaria Property in Brazil Brazil Caribbean Property Caribbean Property in Cyprus Cyprus Property in Dubai Dubai Property in Egypt Egypt Property in France France
Property in Germany Germany Property in Morocco Morocco Property in Portugal Portugal Property in Spain Spain Property in Turkey Turkey UK Property UK US Property US Property in the UAE UAE

Go Back   Overseas Property Investment Forum > Africa Property > Morocco property

Morocco property Morocco, the farthest west point in the Arab world, is becoming a hotspot property investment destination. Investing in Morocco property involves researching the legal and ownership issues, taxation and rental options. Discuss and debate these issues with investors who have bought a property in Morocco and share your views and opinions

Guest View - Limited Access Only
Register Free Today

Sunset beach club Casablanca - Page 4

Reply
 
Thread Tools
  #31  
Old 21-03-2007, 01:22 PM
Active Member
 
Join Date: Feb 2007
Posts: 13
Default

Quote:
Originally Posted by apexsyle
I have to agree with you Lamp's Buddy. The fact that Saffron are only issuing new amended contracts for the customers that ask for it is disappointing.

ALSO: I was told that Sun Set beach was the southern most development on the land designated for touristic development. This if you see the site map attached with your contract is not the case! Instead of the southern facing apartments in the garden sector facing fields and sea they will instead be facing another development. (This land I have been told was bought by prestige)

I think this makes the whole investment less of a 'good value purchase'.
Apexsyle, I was also fed the same info, hence our decision for the southern outer ring! But having seen the site map, our so-called sea views and green fields will most likely be someone else's living room... so why are we having to pay extra for those so-called sea view blocks then? Talk about misrepresentation. Not impressed at all.

However to be fair to Saffron, they did say that the reason why they are reissuing the amended contract only to those who asked, is because some people have actually signed and returned the contract as it is, with the 20% deposit. Beggars belief, I know, but I have actually spoken to someone (not on sunset beach but another development) who didn't even bother to have the contract translated.... have signed and paid and all is well, with the development now well on its way to completion end of this year.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #32  
Old 21-03-2007, 02:23 PM
Senior Member
 
Join Date: Jan 2007
Location: UK, Warwickshire
Posts: 142
Default

Quote:
Originally Posted by momo
Apexsyle, I was also fed the same info, hence our decision for the southern outer ring! But having seen the site map, our so-called sea views and green fields will most likely be someone else's living room... so why are we having to pay extra for those so-called sea view blocks then? Talk about misrepresentation. Not impressed at all.
So which blocks do you mean? No's 4, 5 & 6? ive gone for block 21, though it would be a safer bet as its overlooking pool etc... (Reason ive gone for Sunset beach is mainly due to price, if you want a safe investment i suggest Saidia or Port Lixus, some good units have recently been released on Saidia, are pricey BUT it is the 1st Plan Azure resort - if you want info let us know)
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #33  
Old 22-03-2007, 12:50 AM
Junior Member
 
Join Date: Mar 2007
Posts: 3
Default

Thanks everyone for the replies. As a result, we have talked and:

We are getting a copy of the 'new' contract from Saffron.
We are going to stick with the old lawyers for the moment.
We too have reserved a place in block 21 (that's by-the-by and nowt to do with you lot tho'! ),
We are in the middle of asking a lot more due diligence questions, and
We will share with you anything we find out in the coming days. Including if we decide to see it through.


PD Does anyone have a map reference I can plug into Google-Earth?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Sponsored Links
  #34  
Old 25-03-2007, 03:16 PM
Active Member
 
Join Date: Mar 2007
Posts: 14
Default

Latest update for myself is that i have not signed or returned the contract.

I have a couple of places sending me info on other developments, one of these companies i do trust and should have gone to them first.

If you guys are thinking of holding off i shall post details later in the week of other agents you may wish to try instead.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #35  
Old 28-03-2007, 10:19 AM
Active Member
 
Join Date: Mar 2007
Posts: 14
Default

Interesting show on CH4 last night, about selling houses abroad. Nothing to do with buying like we all are, but they did mention one thing of major interest...

Rushing contracts to get them signed and returned is a classic agents trick.. all designed to get you to panic almost and not check things through slowly and carefully.

Sound familiar?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #36  
Old 28-03-2007, 08:11 PM
Active Member
 
Join Date: Mar 2007
Posts: 4
Default Sunset Beach Club

Greetings All

I previously went to see the proposed Palmiers de Casablanca site (chose not to buy in the end) and remember there was a development next door called Half Moon which they told me was in limbo as the developer had various problems

Is this Sunset Beach Club just the same site under a new name ?
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #37  
Old 29-03-2007, 07:35 PM
Active Member
 
Join Date: Jan 2007
Posts: 7
Default Moroccan Law on Off Plan Sales

Found this on another forum thought it might be helpful.

New legislation aimed at protecting vendors against unscrupulous developers is still far from perfect

A number of developers, who consider that their interests are not sufficiently protected and that they are subject to technical and financial constraints, sometimes prefer ignoring the provisions of the Moroccan law on off-plan sales — vente en l’etat futur d’achevement (VEFA) — which has been in force since November 2003.

These provisions are of mandatory application whenever a developer under-takes to build a property within a predetermined timeframe and a buyer undertakes to pay the purchase price in instalments corresponding to the completion of construction milestones.

Contractual documentation

The contractual VEFA documentation on sales includes:

. a specification book defining the project, the nature of the works to be completed and the completion and delivery timeframe;

. a preliminary sales contract identifying the parties, the land title, the building permit references, the property sold, the final price and the terms of payment; and

. a final sales contract reiterating the contents of the preliminary sales contract, that will effect the transfer of property to the buyer.

However, a common practice among developers is requiring the conclusion of a reservation contract. In this case, the buyer should ensure that the down-payment is refundable on the conclusion of the preliminary sales contract because it could otherwise be considered as an instalment paid prior to the conclusion of this contract, which is null and void.

It should be noted that:

. the preliminary and final sales contract must be drafted by a notary or a lawyer admitted before the Moroccan Supreme Court;

. the preliminary sales contract may not be concluded prior to the completion of the foundations of the ground floor;

. the final sales contract must be concluded within 30 days of the notification to the buyer of a permit to inhabit or a compliance certificate (as applicable) by the developer, itself to be performed within 30 days of the issue of such permit or certificate;

. the payment of an instalment (there is no minimum or maximum percentage) must be linked to the completion of a construction milestone rather than a fixed date; and

. the transfer of property will only occur upon the recording of the final sales contract with the relevant land conservation office.

Advantages and disadvantages

The regime described above, which aims to protect buyers from being swindled by dishonest developers, has advantages (as it offers certain guarantees), but also contains inconveniences for both parties. For example:

. the law allows for a pre-recording (prenotation) of the sale (which guarantees to the buyer that the property will not be sold to anyone else) but only with the developer’s consent, which is usually refused since any buyer could eventually block the development of the project;

. the developers must secure the refund of instalments paid by the buyer by a bank guarantee or insurance, which expires upon the transfer of property (i.e. the recording of the final sales contract with the relevant land conservation office), but few banks — and no insurers — currently offer such products;

. the regime is not practical for certain types of developments (social housing, mixed-use buildings to be purchased by different entities), as the law is difficult to fully apply due to contradictions or inconsistencies with other laws and regulations;

. the regime provides for automatic penalties in case of lateness in the completion of a milestone or in the payment of the instalment related thereto, but such penalties are capped at 1% of the amount corresponding to the said milestone per month (and capped at 10% per year); and

. the regime provides for an automatic penalty against the defaulting party in case of termination of the preliminary sales contract, but this penalty is capped at 10% of the sale price.

How to finance your purchase

If you decide to go ahead with your plans to purchase a second home in Morocco, despite the inconvenience of the VEFA regime (it is, after all, better than the old regime), local banks offer financing packages to foreigners (up to 70% of the purchase price).

However, beware that the securing of such financing may nonetheless be subject to the provisions of personal guarantees (or cash collateral) or alternative (bridge) sureties by the buyer, as the mortgaging of the asset will only become possible on the transfer of property.

Hicham Naciri is a partner and Richard Cantin a senior associate at Naciri & Associes, Gide Loyrette Nouel in Casablanca.


Author: Hicham Naciri and Richard Cantin
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
Sponsored Links
  #38  
Old 11-04-2007, 08:01 PM
Junior Member
 
Join Date: Apr 2007
Posts: 4
Default Hello Mono

I have only just found the forum and have reserved on Sunset Beach, on the outer ring. Hence I am not really sure how to get the best this. I transfered from the other project (next door?). I have been to visit the site and was very impressed with the location, and to be fair the way Saffron Villas treated me.

I was told my property would be on the edge of the site overlooking fields is this not the case? To date I have not seen plan wider than Sunset Beach development. Does anyone have one they could scan in and send.

More worryingly the floor plan I have although it states it is for a 90 sq meter penthouse only adds up to 67 sq meters. I contacted Saffron Villas regarding this and they said they knew the plan was incorrect and the Architect would provide a new one!!!! Still not arrived.

Those of you who have received contract can you confirm the dimensions actually add up?

I do love the location does anyone else know who is going to build there, when etc are there other options other than sunset beach?

I would welcome hearing from anybody re any info. I am buying on my own and so it would be great to share views.





Quote:
Originally Posted by momo
Apexsyle, I was also fed the same info, hence our decision for the southern outer ring! But having seen the site map, our so-called sea views and green fields will most likely be someone else's living room... so why are we having to pay extra for those so-called sea view blocks then? Talk about misrepresentation. Not impressed at all.

However to be fair to Saffron, they did say that the reason why they are reissuing the amended contract only to those who asked, is because some people have actually signed and returned the contract as it is, with the 20% deposit. Beggars belief, I know, but I have actually spoken to someone (not on sunset beach but another development) who didn't even bother to have the contract translated.... have signed and paid and all is well, with the development now well on its way to completion end of this year.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #39  
Old 14-04-2007, 08:46 PM
Active Member
 
Join Date: Feb 2007
Posts: 13
Default

Quote:
Originally Posted by roodboy
Greetings All

I previously went to see the proposed Palmiers de Casablanca site (chose not to buy in the end) and remember there was a development next door called Half Moon which they told me was in limbo as the developer had various problems

Is this Sunset Beach Club just the same site under a new name ?
Hmmm... interesting. Whereabouts is Palmiers in relation to Half Moon? From what I gather, the Half Moon project is now abandoned, as the outline planning permission has lapsed and the developer deceased. Sunset Beach (plot for the beach and garden apartments) is the immediate plot left of Half Moon as seen from the coastal road, with the beach in front of you. The villas that are due for launch will however be sitting on the entire beach frontal of the Half Moon plot itself. You really can't miss this fact, as the huge Half Moon gate clearly marks the plot. The villa plot is half the length of the beach/garden apartment plot, hence Sunset Beach is going to be on an L-shaped plot (mirror image of the number seven) and seems likely to be flanked by OTHER developments left,right and bottom as the entire plot (as shown on the contract and brochure) is only half the length of the Half Moon plot (which runs all the way from the beach down to the coastal road).
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote
  #40  
Old 14-04-2007, 09:46 PM
Active Member
 
Join Date: Feb 2007
Posts: 13
Default

Quote:
Originally Posted by Scarlet
I have only just found the forum and have reserved on Sunset Beach, on the outer ring. Hence I am not really sure how to get the best this. I transfered from the other project (next door?). I have been to visit the site and was very impressed with the location, and to be fair the way Saffron Villas treated me.

I was told my property would be on the edge of the site overlooking fields is this not the case? To date I have not seen plan wider than Sunset Beach development. Does anyone have one they could scan in and send.

More worryingly the floor plan I have although it states it is for a 90 sq meter penthouse only adds up to 67 sq meters. I contacted Saffron Villas regarding this and they said they knew the plan was incorrect and the Architect would provide a new one!!!! Still not arrived.

Those of you who have received contract can you confirm the dimensions actually add up?

I do love the location does anyone else know who is going to build there, when etc are there other options other than sunset beach?

I would welcome hearing from anybody re any info. I am buying on my own and so it would be great to share views.
From my recent site visit I can confirm that there is another plot on the left of Sunset Beach, so there won't be any green field views I'm afraid. Like you I really love the location, and the site visit was really wonderful.... absolutely love the drive up to the Kerzner Mazagan site and El Jadida. All is well and jolly, up until the point I started asking more pressing questions, and was told off in a very contempt tone that most people don't ask as many question as I do, good for me, but are merely happy to proceed with their purchase as they like what they see i.e. it's a beautiful location, etc, and so if I have so much points of concern with regards the development and the contract, then buying off-plan is not for me and Morocco is not for me, and I should go to Dubai instead. (For those in the know about Dubai, it is already 5 years too late!) Touched some nerve with my questions, have I? Saffron has always claimed that they do due dilligence on the developments they represent, some due dilligence this is, if they can get the position of the plot wrong and has been feeding clients contradicting and wrong information and trying to brush it aside by remarking that it is as much a suprise to them as it is to us that there is another plot on the left of Sunset Beach! With regards plan that shows a wider view than that of Sunset Beach, I was told that the office has a plan that shows the entire stretch of the tourism zone, so won't it be glaringly obvious where the Sunset Beach plot is? Saffron has now lost credibility in my eyes, and for those that have private messaged me on this forum and other forums which I go under a different name, I do apologize for recommending them to you. And to those who are awaiting pm replies from me, please bear with me, I will try to do so over the weekend. My two weeks trip to Morocco is absolutely wonderful, highlight of the trip - overnight camel trekking trip into the Sahara Desert! My dear God, I've never seen so many stars in such clear sky in my entire life! And to see both the moon and the sun during sunrise. Highly recommended, although a tad uncomfortable for the buttocks. Have a good weekend, everyone.
Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!
Reply With Quote

Reply

Bookmarks

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Advice for best area in Turkey lane Turkey property 62 02-12-2008 10:53 AM
Sunset Beach Contracts Mark68 Morocco property 11 29-05-2007 11:55 AM
Mediterranea Saidia - Sahara Beach and Spa Resort - Pre-release launch (RT-6) investor27 Mediterrania Saidia - Morocco - Owners Group Forum 1 05-03-2007 07:56 PM
M-TECH is offering Flats and Independent Villas at The Beach Village, Goa,India. amitabh9990 India property 0 05-03-2007 04:22 PM
Palm Beach Resort investor27 Buying overseas property 4 13-02-2007 09:44 PM

LEGAL NOTICE
By using this Website, you agree to abide by our Terms and Conditions (the "Terms"). This notice does not replace our Terms, which you must read in full as they contain important information. You must not post any defamatory, unlawful or undesirable content, or any content copied from a third party, on the Website. You must not copy material from the Website except in accordance with the Terms. This Website gives users an opportunity to share information only and is not intended to contain any advice which you should rely upon. It does not replace the need to take professional or other advice. We have no liability to you or any other person in respect of any content on this Website.
FORUM PARTNERS
Property Community is owned and operated by the MoveForward.com Limited group. You can find out more about us here. We also run the Expat Forum, an ideal community for people moving overseas and looking for jobs abroad. Keep a look out for some up coming ventures like: The Dubai Forum for everything about Dubai. The Income Forum for everything financial. Future projects: Spanish Property | Weddings | UK Business.


Latest Active Threads

All times are GMT +1. The time now is 10:15 AM.

SearchSearch the site

Premium Account Benefits
Premium Member Benefits

Sub Forums:

Brazil Property ForumBrazil Property
Bulgaria Property ForumBulgaria Property
Dubai Property ForumCyprus Property
Dubai Property Forum
Dubai Property
Egypt Property ForumEgypt Property
French Property ForumFrench Property
German Property ForumGerman Property
Greek Property ForumGreek Property
Morocco Property ForumMorocco Property
Portugal Property ForumPortugal Property
Spanish Property ForumSpanish Property
Turkey Property ForumTurkey Property
UK Property ForumUK Property

Premium SubscriptionList Your Properties With a Premium Membership

Property News
Property Forum
Property Blog
Property For Sale


Powered by vBulletin® Version 3.7.2
Copyright ©2000 - 2008, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.2.0