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Originally Posted by JimW
But yesterday we decided to pull out of the deal. The uncertainties regarding future costs and management structure, (we have been burned on this before, by reputable companies), the lack of track record and the non VEFA contract put the prospect too far up the risk curve for us - despite the prospect of high reward.
The amended contract ("we'll give you your money back if we fail to deliver") but without a bank guarantee meant, as our lawyer pointed out, very little - if they fail to build, because they'd gone bust there would be no money to repay anyway. And that would be €43k down the Swannee.
Jim
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Totally 100% the reason myself and a buddy have both pulled out.
To date still after almost 2 months waiting for our deposit back!!
Saffron say they are waiting for the check from the developers.. so good luck too all of you that are going ahead with this... if we cannot get just 2k back then what hope a larger some of money....
In no rush at the moment to get it back as we will just be charging Saffron interest lost...