Quote:
Originally Posted by MrSkipsey
I was under the impression that when purchasing in Egypt you needed an Egyptian based lawyer?
AFAIK - That £1000 due dilligance and contract check is fine but the £500 is what they will give the Egyptian lawyer that they appoint so he can register your purchase.
The £550 that Zaied is charging clients is to cover all of that. You never know Red, Anthony Seddon may even use Zaied himself to register your purchase with the Egyptian courts. Therefore the end result is the same but has cost an extra £950 for the privaledge! 
I have just sent an email to IPP and Stuart at E-I and CC'd myself and Zaied about the due dilligence,.......Here is the content........
With regards to apartment 309 Hania Beach that I have reserved and am in the process of purchasing.
My appointed lawyer, Zaied Ahmed Yehia, has been unable to obtain a copy of the due dilligance for the above development.
He had informed me via email on Monday 2nd June 2008 that IPP would be forwarding all information to him on Tuesday 3rd June 2008 which I have yet to be confirmed.
Due to the delay in myself recieving the contract for apartment 309 Hania Beach (15/05/2008) and my lawyer recieving the above documents I am asking for an extension (if needed) on the original deadline date which is 21 working days from 12/05/2008 making it 12/06/2008. (This has been worked out taking into consideration of weekends and the subsiquent May bank holiday).
As soon as my lawyer, has confirmed the due dilligance is correct and legal I shall forward the three (3) contracts, signed and a cheque for the monies.
Im sure you can understand the importance for myself and my appointed lawyer to make sure all documents are legal and correct before I proceed with sending the remaining payments.
I look forward to your response.
Kind regards,
Mr Skipsey.
Ill let you know what the replies are!
Kathy from IPP responded immediately,....
Dear Mr. Skipsey
Thank you for updating me.
I would point out that IPP has provided him with everything that he has requested of us. I will make the directors aware of his claims.
Kind regards
Kathy Fryer-Ford
To which I have replied,....
Thanks for your quick reply kathy.
As I said Ive been unable to contact him since Monday due to work commitments. Im sure the due dilligence is fine but would like to hold back on sending the cheque and contract to yourself untill I hear from him.
Its all here in an envelope waiting to go, just need the go-ahead from Zaied!
Regards,
Mike. |
Skip,
I understand where your coming from. Can Zeaid provide you with a client account where your funds are protected by UK legislation and the Law Society??
Will he make quartely visits to the site to make sure that the constructors are adhering to the bulding specifications and time sacle specified for the build??
At the moment your having trouble getting feedback from him with regards to the DD. What happens when it get's more complicated and you need his assistance.
It's your choice, but I contacted Zeiad on the 13/05/08 where he informed me he was carrying out DD for other clients on Hania Beach. It is now the 03/06/08 and you are none the wiser.