Thread: Marsa Alam
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Old 13-08-2008, 06:04 PM
PierreM PierreM is offline
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Join Date: Aug 2008
Posts: 5
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Stew, You are obviously very bitter as you have issues with ipi and your agent. That's bad news, I'm sorry for you.

Good luck to get your deposit back, I hope you cancelled before the 29 days limit, but I am sure your egyptian lawyer would have warned you.

You said you're a construction professional from a professional company, so what? I own 7 properties, is your opinion better than mine? don't think so, I own more than 2 million sterlings worth of properties at 32 so I am not doing too bad man. At least I know where I stand, if you see what I mean stew.

Your lawyer is egyptian, good, that doesn't make him a translator, and as a professional working for a professional company, you know that in a legal document, every word is important. My lawyers are from different countries they would certainly not try to translate a document without a professional translator.That shows how serious is yours if he told you he could translate a legal document all by himself.

My 2 lawyers have reviewed the due diligence, they have reviewed the forms and contract, everything is fine. They told me that seddons is doing a good job and I almost don't need them, that's why I said you don't need a lawyer, I should have explained, fair enough.

But that's not the point. Even if you had to take it to egyptian court, which is not a sure fact, you would have to have your contract translated by a professional, so it doesn't matter what language it is. The contract you signed is in english and you agreed to it, so the exact translation in any language will be no different.
Again, it is a small issue, I don't understand all the fuss about it. It's a detail, it's certainly not offputting.

Goldberg Global is absolutely right, if you read this forum and you're a first time investor, go to see your lawyer and personal banker for advice, compare different agencies and developers, study what's on the market, who is reliable and who is not but please do not listen to bitter people trying to scare you away.
Ask people you know and trust, not some keyboard warrior with a vengeance , they could be anyone, lawyers, developers, estate agents, who knows.

I am just a fairly experienced investor who bought in marsa alam, I know for an absolute fact that this one project and the people working on it are trustworthy and that there are good chances I will make good money out of it. I trust the people who advise me and i trust the people i dealt with. I don't trust internet rumours over professionals. I am very enthusiastic about this resort and I just wanted to share that with my fellow investors of this website.

That was just a feedback, not a professional advice.
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