Lawyers, Bank Accounts, Making A Will

[realestatemart]

Originally Posted by Riccal

Hi George, will bear in mind. Just getting a little more comfortable with the legal issues at the moment and just spoke to Zeiad and have sent some details to him so moving forward.

Cheers

Rick

Great Rick

[Jeremy Sturgess]

Originally Posted by M Butler

Jeremy,
We are in the process of buying a re-sale in El Gouna. Did your lawyer turn up any problems with your contract?
We are a bit worried as the property has suffered a bit of water damage from the irrigation system and we are having an engineers report drawn up. However, the engineer is from Orascom and I know from experience that the answer to most things in Egypt is "no problem missus"!!
Is the Orascom contract "set in stone" or can you adapt it to relate to the property in question?

Thanks,
margaret

I'm ashamed to say that when I bought my villa I hardly bothered to read the contract and there were no amedments therefore !. I had met Samih by then and felt very comfortable. Orascom are v reputable and I havent come accross any horror stories. I think its a pretty standard purchase contract (having now seen a few !) but if you are buying a resale then I dont know as I have no knowledge of what those contracts look like. Sara at trowers is probably the best person to advise you if you are worried. best of luck jeremy

[realestatemart]

Originally Posted by Jeremy Sturgess

I'm ashamed to say that when I bought my villa I hardly bothered to read the contract and there were no amedments therefore !. I had met Samih by then and felt very comfortable. Orascom are v reputable and I havent come accross any horror stories. I think its a pretty standard purchase contract (having now seen a few !) but if you are buying a resale then I dont know as I have no knowledge of what those contracts look like. Sara at trowers is probably the best person to advise you if you are worried. best of luck jeremy

Yes Jeremy I think Margret already asked her Lawyer and they are now checking the papaers and waiting for the Engineers feed back on the villa construction

[M Butler]

Thanks Jeremy and George,

I think it is the laid back way that property sales are done here compared to the UK that I am finding a little unsettling. I am hoping that everything will be fine and we can sign on the dotted line.
I am not sure about having a lawyer in Cairo to cover the buying process though. I know when it comes to registering the contract a Cairo lawyer will be required but is it better to have a local lawyer go through the contract or perhaps it is not necessary with Orascom. I think what happens with a resale is that the original contract is assigned to the new purchaser but I could be wrong. Time will tell!!!

Margaret

[Jeremy Sturgess]

Originally Posted by M Butler

Thanks Jeremy and George,

I think it is the laid back way that property sales are done here compared to the UK that I am finding a little unsettling. I am hoping that everything will be fine and we can sign on the dotted line.
I am not sure about having a lawyer in Cairo to cover the buying process though. I know when it comes to registering the contract a Cairo lawyer will be required but is it better to have a local lawyer go through the contract or perhaps it is not necessary with Orascom. I think what happens with a resale is that the original contract is assigned to the new purchaser but I could be wrong. Time will tell!!!

Margaret

There is a lawyer called Zaied who is active on this forum who is also good I've heard. Good luck

[Peter Mitry]

Zeiad is an excellent lawyer who I know personally and who has given extensive advice to members of the forum free of charge. I have no hesitation in recommending him.

Peter Mitry

[queenie40something]

Ditto above - he is my lawyer and was recommended to me by another buyer. His is a reputable lawyer and really knows his stuff. His English is excellent and he responds very quickly to emails.

[Jef1]

Can anyone tell me how easy it is to repatriate funds out of Egypt?
If I pay a developer stage payments directly into their bank account do I need to prove that I have sent this money from the UK to Egypt or is it best to open an Egyptian bank account, transfer money into this account and then arrange for the funds to be paid to the developer?
I would appreciate any information on this topic.

[lovesquadsue]

Hi Jef1
When we made our stage payments i just sent them via international bank transfer from my local barclays bank - they give you all the documentation to confirm that it has been sent and to which account etc as evidence that the money has been sent.... it costs £20.00 per transfer with Barclays.
Hope this helps,
Sue

[Jef1]

Thanks Lovesquadsue
Were you advised that this procedure is sufficient? I just want to be sure that I can easily take my money out of Egypt when the time comes for me to sell.
Did you receive any legal advice about this and if so would you recommend them?
Like many people I am a little nervous and want to make sure I don't make any mistakes that's going to cost me!