Quote:
Originally Posted by Our Property World
Sorry, but this is not true. Abu Dhabi do now offer freehold. We have bought and sold freehold apartments there.
We would advise investors to clarify the position with each individual development as it does vary. Ie on one development the villas may be leasehold and apartments freehold.
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Don't believe word of mouth. When signing put a condition on the booking form " subject to freehold property and not leasehold ". Remember the duty of the salesman is to sell so that he gets his commission.
I put a similar clause " subject to bank finance " on my booking form which saved me. The tussle between developer and finance house went on and my 3 payments were delayed because of this clause.
Don't believe word of mouth. When signing put a condition on the booking form " subject to freehold property and not leasehold ". Remember the duty of the salesman is to sell so that he gets his commission.
The developer could not cancel the contract until he issued a letter saying no finance. Luckily the developer was good and I did not face any adverse situations, Developers wait for you to default so that they can cancel your contract and sell to someone else for higher price.
Regards
Regards
Roshan