Quote:
Originally Posted by lovesquadsue
Well its my view that if I was to pull out of the contract on completion day then i would feel ok with paying a canx charge of 10% ish - I would expect to pay something in this region if i pulled out at such a late stage.
Yes I have a lawyer and a contract (i just havent signed it yet!). I had a written statement from the agent confirming the purchase price and a completion date of 31st March 2008. There is a penalty clause written into the contract that states that in the event of delay beyond 1st April 2008 the first party(the developer) are obliged to pay 750EGP for every delaying week which would be deducted from the final payment. If we do decide to cancel I would at this stage accept losing the £1000.00 reservation fee. Obviously, these are only my own personal thoughs and what I would be prepared/expect to loose !
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Have you been told that YOUR apartment will be late, if so by how much.
There is still a chance that all sold apartments could be ready, even if the gardens and pool etc may not be.
If you are to get £750 a WEEK, then I'd be praying for a delay (are you sure about this figure).
If your real concern is that it will NEVER be finished then regular photos and progress updates via the board should be a real help to you.
Do you have the names of any other owners, if not ask the agent to put you in touch with some - all my owners already know each other through our owners club and we're still 12 months from being ready.
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