English
FrançaisHas anyone else shown interest in this development marketed for delivery in Dec 09, being constructed by Slaven Investering, sold through Savills, Alpinehomes and Flaine Immobilier and managed by Eurogroup?
http://www.terrasses-veret.com/
I paid a 5% reservation deposit in Spring 08 and acquired a mortgage but then delivery was delayed to Dec 2010. Despite a letter from Slaven giving assurances about completion I'm worried that the agent does not answer my queries and where I stand. All of the original timescales in the reservation contract have now expired....
Comments
mutley
Terrasses de Veret, Flaine
28 December 2008Polaris
There should be something in your contract that allows you to take action for the late delivery and loss of rent.
However lets take this a step backwards.
Open a nice bottle of French wine and spend a few hours looking through this site and very quickly you will realise that if you loose your 5% deposit and cancel your reservation and walk away you will be doing yourself a favour.
I would have thought that you could find a way of cancelling the purchase and getting your deposit back. However do the sums very carefully and how much this will cost you.
I and many others regret the day we ever set my eyes on leaseback. In a few cases the schemes works very well but they are a few. In most cases the scheme is flawed with rip off developers who do not finish, management companies who throw the lease out of the window on day 1 and a community of French Rogues.
I and many others would love to be where you are now and I am sure most would say that this is the best advice anybody could give you.
If you do decide to go ahead, do extensive research on the management company and developer and build a contingency into your finances for non payemtn and default of rent for say 12 to 24 months. Also be prepared to take a 40% hit on your income.
Mutley