Jacuma Beach Resort

[robh]

Originally Posted by Blc

Contracts in Brazil can not be automatically cancelled, the developer would need to apply to the court and serve notice to the client before the unit could be re sold.


Brazilian law requires that developers can only keep no more than 20% although most developers keep 50%.

I wouldn't want to bet on that as the law isn't totally clear on the matter, so you will have to take the developer to court to decide whether the 100% clause is legal or not.

Regards,
Rob.

[Blc]

Originally Posted by robh

I wouldn't want to bet on that as the law isn't totally clear on the matter, so you will have to take the developer to court to decide whether the 100% clause is legal or not.

Regards,
Rob.

I agree you would need to take the developer to court the civil code states 20% The developer would not want any outstanding court cases showing against the company as lawyers would pick up on this when doing the DD..

100% is crazy I cant belive any lawyer let clients sign contracts stating this. Just this week I had a lawyer asking for a contract to be changed from 50% to 20%.

If the developer sells the unit without serving notice through the court then this would not be Ilegal. Most developers insist in the lawrer accepting the notice on behalf of the client.




BLC

[Karine]

Somebody going to Natal the coming months ?

[BILBY]

Originally Posted by Karine

Somebody going to Natal the coming months ?

I'm moving to Pipa in about 5 or 6 weeks- I'll get up to Jacuma when I can though it might not be before October
Be assured I will be checking for news and work being done

[balash]

I'll be on place at the end of August. What do you want to know?
Near Jacuma Resort is wonderful and absolutly ready development. Some villas are still free.

[JMBroad]

Originally Posted by Karine

Somebody going to Natal the coming months ?

I live out here if that helps?

[robh]

Originally Posted by Karine

Somebody going to Natal the coming months ?

I will be up there in a few weeks as well to have a look for our clients, so if you need something specific let me know.

[JMBroad]

Originally Posted by robh

I will be up there in a few weeks as well to have a look for our clients, so if you need something specific let me know.

We could try and have that coffee we've been talking about since last year?

[robh]

Originally Posted by JMBroad

We could try and have that coffee we've been talking about since last year?

I think it will have to be champagne if we finally do meet....

I will send you an email when I get my schedule finalised.

Regards,
Rob.

[growler]

Just joined this thread and it seems to me that these sort of delays are becoming quite commom in Brazil, in part because of the current climate but not solely I am sure.

I invested in the Porto dos Corais development in Maracajau' about 45 mins from Natal. I paid the deposit in October 2006 with a completion date of December 2007. I have made 2 payments so far, the last being around July 2007.

I too experienced similar problems to many here, delay followed by delay with no information from the developer as to what was going on. It was very frustrating. I sent the developer an email saying they were "in breach of contract" ("the developer will provide regular communication of progress" being in my contract). This did elicit a response and to be honest communication has improved with Newsletters every couple of months now.

Once again, one of the reasons given for the delay was "more rain than usual" last year, however, labour is relatively cheap in Brazil and I don't see why they couldn't have caught up at least a little bit by now.

Completion of the development was December 2007, now nearly 2 years later I believe something like only 50 units have been completed. I have been given about 7 completion dates for my villa but as of this date, the roof of my villa hasn't even been completed. I personally am not very happy with the endless delays, the only thing stopping me from completely "freaking out" is that my contract does offer me some protection and even if I were to lose 30% of the money I have already paid it wouldn't be a total disaster as the exchange rate has changed considerably since the monies were paid.

These delays are certainly not good for investors and can only have a detrimental effect on future developments.