Sunset Beach Contracts

[Mark68]

Hi Scarlet,
The contracts are being re-written again to include an escrow account which means the money can only be released by a solicitor at certain times in the build.
This shouls hopefully give us some kind of security on the build.
The plans are also being re-done with the correct measurements on it..
Have you signed yet yourself??

[investor27]

Mark, I received my updated contract with escrow account details on Saturday, this makes me feel that little bit more confident in paying the initial 20% deposit, however the developer is charging individuals 450 euro's for paying into this escrow account. As i understand many clients are being pushed to pay the desposit & sign contract before the 4th June, on this date a price increase is due, if payment is not made by the 4th June, the current price offered will not be honoured, (though individuals may have different arrangements?)

What position is everyone else in? have people signed contracts / paid 20%? I feel a little more confident as 20% will now be going into escrow account, not developers.

I've just been talking to a broker with view of converting pound to euro, at a push you maybe able to get 1.47 euro to pound.

[investor27]

Update to those still in Sunset Beach

Hi All, ive also been in contact with Ben with regards to the Sunset Beach Development, my main concern is in relation to the actual development being firstly completed & secondly to the specification stated.

Did anyone else watch Watchdog on Mon 9th Feb? It showed how many people had been caught out with buying off-plan in Bulgaria, the development is completed to a poor spec, no water or electricity, the sales agent then does not want anything to do with helping the purchaser & advises the contract is between the purchaser & developer... & then where is the developer? - nowhere to be seen!

Lee & Stu, im assuming you've now both paid the 40% deposit & we should be getting regular updates, feedback & some assurance this development will complete to the spec detailed, lets all try keeping in contact, im happy to advise of my e-mail address & put pressure on the developer to provide this info, feel free to reply back to this note or PM me.

Anyone else who has reserved on Sunset Beach & would like to join us in getting updates / aplying pressure PM me & i'll setup a mailing list, sound ok?