Recommendations of trusted agents / developers

[dave99]

Name of the resort is ???

HI
We got our keys for our apartment in June after buying off plan a year previous. We were previously looking at Sharm but the 99 year lease gave us concern. I did the thing NO ONE should do! looked on the Internet and made a few phone calls. Then took someones word and bought off plan in Hurghada having never been to Hurghada. We handed over a nice deposit still never even gone to Hurghada. The firm which we dealt with seamed to be fantastic keeping us up to date with the build through the Internet and phone when I had any questions. by July 2006 we decided to go to Hurghada and have a look ourselves before handing over the next large sum of money. We were met at the airport by the firm and taken to our hotel, still apprehensive we were told that we would be picked up the next day to view our apartment that was being built.
The following day they picked us up and took us there and luckily it was just like the pictures that I had been following on the monthly update on the Internet, it was a building site but that is what we expected as completion was not till the next year.
We went back again that week and came home feeling very happy to part with the next lot of money.
We visited again this January to see how it was getting on and finally got the Keys in June. Each time we went we were welcomed by the company who picked us up from the airport every time.
Even now after getting the keys the company have there own taxi's, Cleaning service, and own legal service that dealt with the turn on of electric and handover of apartment, they deal with the maintenance of the building and have there own building company.
After reading things on this formus I know how stupid I was to buy without looking, but I was very lucky to find a company that helped all the way and in a place I love alot better than Sharm and no 99year lease.

Thanks - where did you buy (name of the development).

 

[J4hurghada]

Thanks - where did you buy (name of the development).

The Oasis 1 near the intercontinental, Moubarak 6, all apartments have been sold but think they have a couple left in Oasis 5 which is attached to our block then they have two big developments going on near el gouna one on private beach. I know at the moment it is all being built round that area as most of Hurghada. Every time we go something else has gone up. And as for our little investment for the future is going up dramatically over the years alot better than the 5% interest rate at home in a bank.

 

[J4hurghada]

Also I would like to add, we are the normal jo bloggs in the street, we don't have money to burn but was left a small inheritance that was not enough to buy property in England.

 

[propertastic]

the project is palm beach piazza and the project will be ready in 9 months
I'm a agent for the developer , let me know if u need more details

The Palm Beach Piazza was finished in July 2007 and people are living there already.

We were there in mid-October and saw the retired Italian banker who must surely be Sahl Hasheesh's first permanent resident.

And very happy he looked too!

 

[lovesquadsue]

Has anyone got any good / bad comments to make about El Riad?

 

[awahee123]

Hi,

I have purchased on suleder too, to be honest i have not had any cause to think El Riad are a bad establishment,we shall see in the future how they deal with us regarding the development etc. I have seen a piece on the forum where it states they are working 24/7 to try and finish both Desert Pearl and Suleder on time.
Time will tell...

 

[lovesquadsue]

Hi,

I have purchased on suleder too, to be honest i have not had any cause to think El Riad are a bad establishment,we shall see in the future how they deal with us regarding the development etc. I have seen a piece on the forum where it states they are working 24/7 to try and finish both Desert Pearl and Suleder on time.
Time will tell...

Yes I did read that post - as you say time will tell!

 

[Glenn]

Recommendations trusted agents - developers

Sorry for maybe a silly thread but what exactly is the role of a good agent?

 

[propertastic]

This was a great thread about the same subject in the Dubai forum not so long ago:

http://www.totallyproperty.com/dubai-property/5393-what-look-agent.html

 

[Peter Mitry]

Call me old fashioned but my idea of a good agent is one who will hold the clients hand through the whole sharks nest of buying property; negotiating the best deal, dealing with all of the admin and generally smoothing the way to a stress free purchase. This does not seem to coincide with too many peoples idea of agents but its certainly what we aim to provide.

 

[queenie40something]

Hi guys - I have moved these threads together as they both involved agents.

Regards

Alison

 

[awahee123]

A good agent is one who is honest,reliable and won't sell what he himself wouldn't buy.
There are plenty of agents who jump onto selling any new development without knowing the full facts,any agent who isn't selective in what he is comfortable with selling is not trustworthy.
I have seen a couple of agents in a recently finished development walking around and
praising the finish which had some of the worst finishing I had ever seen.
These are the agents you need to keep away from.
Also the agents that continuously promote one type of development or area but have no reservations about selling something totally different.
Finally a good agent should always try and find out a little bit about the builder / developer just to make sure they are ok to deal with.
Simply be honest and let the buyer decide without any pressure if you find this agent you cannot go far wrong.

 

[Glenn]

Call me old fashioned but my idea of a good agent is one who will hold the clients hand through the whole sharks nest of buying property; negotiating the best deal, dealing with all of the admin and generally smoothing the way to a stress free purchase. This does not seem to coincide with too many peoples idea of agents but its certainly what we aim to provide.

Does this include investigating land and building ownership by the developer by yourself or should the agent ascertain this for his client.

 

[Peter Mitry]

This is often difficult to do but many Developers now recognise the need for Due Diligence and this provides some reassurance for buyers.

 

[Glenn]

This is often difficult to do but many Developers now recognise the need for Due Diligence and this provides some reassurance for buyers.

But do agents envestigate this or take the developers word for it?

 

[Peter Mitry]

As Brokers many of the agents we deal with insist on seeing these reports before they will send clients. This is more difficult in Egypt as many Developers have not been used to providing this information. However, as interest in the region grows they will come under increasing pressure to comply.

 

[Glenn]

So basically speaking, an agent who knowingly recommended a dodgey developer would be ruined reputation wise?

 

[Peter Mitry]

It's not that black and white as many Developers are very astute at painting a good picture and it is sometimes hard to get at the truth. Even Due Diligence Reports are not foolproof as some Developers spend a lot of money with their lawyers and expect loyalty in return. But at least it is some measure in a field where previously there was none.

 

[Glenn]

It's not that black and white as many Developers are very astute at painting a good picture and it is sometimes hard to get at the truth. Even Due Diligence Reports are not foolproof as some Developers spend a lot of money with their lawyers and expect loyalty in return. But at least it is some measure in a field where previously there was none.

Sorry Peter this isn't a good response from the agents.......

 

[Peter Mitry]

Glen no matter how good your agent is this is no substitute for employing a competent lawyer to represent you. We can advise you on this and point clients in the right direction but most clients don't listen and do their own thing! Our job is to find you the best property currently available and to advise you of the best people to help you. No agent is an expert in all aspects of your purchase; thats why you need a competent lawyer.
Our advice is freely given and totally independent; its up to our clients to decide whether they take it. Some lawyers like Zeiad seem to be an exception but you have to judge for yourself.
However, our advice is based on years of experience; think of the potential pitfalls for buyers who decide to 'go it alone' without the benefit of good advice.