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House Price Crash Forum


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Everything posted by adams

  1. The best buy at the moment would appear to be the beachside villas on VVT6 - 2 bed semi-detached villas for £162,000 - a tad over budget but great location and loads of facilities
  2. I have been looking at developments in Marrakech and I keep hearing from agents about "the dark side" which is where at least 30% of the value of the property has to be paid in cash to the developer and this amount is not shown on the title deeds. There is no reduction in the price for paying in this way and apparently this is common practice in Marrakech. I would like to know if other people have bought in this way or not and would this cause a problem when trying to repatriate the funds
  3. Not really the right place to build a development like this then!
  4. I seem to remember that in order to activate the PM facility I had to contact one of the administrators. i think there was a note somewhere in the index.
  5. I am going out to Marrakech early next month to look for an apartment. Does anyone have any information on good developments off-plan? Can anyone recommend good agents? I am going to look at El Oasis, but this is just outside Marrakech and for an apartment I am not so sure this is a good idea - would imagine it is important to be nearer the centre?
  6. But I did sign a contract - albeit a reservation contract. The pre-reservation agreement is a contract in itself - not an agreement to purchase - but an agreement to reserve a specified unit at a specified price/size prior to the sales contract. It is legally binding when the reservation deposit is paid and the agreement is signed by both parties. They usually state that the deposits are fully refundable should the buyer not wish to proceed after receiving the sales contract to purchase.
  7. I totally agree with you Cole Trickle. I too reserved a pre-release unit. However I have taken legal advice and the opinion is that I have a case for breach of contract and misrepresentation. I am hoping that Essential will enter into some sort of meaningful negotiation, but so far they have not. And they are also asking for another deposit before issuing the contracts! Not so good, Essential Estates, Essential Worldwide, Essential Morocco, Essential Developments, Essential Group, or whatever you wish to call yourselves. Are there any more aggrieved people who have registered at the pre-launch stage? Maybe we should create a united force?
  8. Best to steer clear of any foreign agents and use a home-based UK agent. Its much easier to pursue any claim for a breach of the pre-contract agreement or misrepresentation and recovery of any such deposit monies if the company you have signed an agreement with is a UK company - even though such an agreement may be subject to applicable English law.
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