Breach of Contract Litigation Success

[max99]

From your own personal experience what is the likelihood of success in the courts when suing a TRNC property developer for breach of contract?

Not sure if I should use names here? I'm new to the forum and not yet sure if it's the done thing to name and shame on here, comments please, but for now I will not mention names to be prudent.

I purchased an off-plan investment property from a UK and TRNC based estate agency (using the same estate agents recommended conveyancer). They sold me the deal advertised as 'Guaranteed 12% return on Investment'. So being a cautions first time investor I signed up as it was 'Guaranteed'.
The contract is stage payment based, and the 12% became due 'upon completion of Concrete, plastering, floor tiling, windows, kitchen, bathroom, wall tiling and painting'. The developer asked for this payment in August 2007 at which time I requested the return of my monies plus the 12% as per the contract. This money never arrived and then several months later the developer told my conveyancer that the property was not yet finished.
The developer was contracted to complete the property by November 2008. I still have not had another notification from the developer that the property is complete though many others (actual purchasers, not pure investors like me) on the same development have had these notifications and some even have keys and furniture etc.
The conveyancer initially told me not to sue as this can be a lengthy process, and now they are advising to sue.

Any advice would be greatly appreciated.

 

[max99]

OK so this is a VERY quiet forum!

Shame coz it looks quite pretty LOL, pity the content aint there

 

[Veronica]

OK so this is a VERY quiet forum!

Shame coz it looks quite pretty LOL, pity the content aint there

Hi Max,
Maybe the reason not many are answering your post is that no one who has had the same problems as you has read it yet.
Perhpas it would have been more prudent to look into the many problems which are common in the TRNC bfore you actually entered into a contract.
It would certainly have been much wiser to at least have used an independant solicitor.
There are many articles on t he internet warning people about buying in the TRNC
.
Take a look at this article


Occupied Area - Properties - Home Page


then look at this more recent article.

Cyprus Weekly

This means that the European courts have upheld the decision in favour of the Greek Cypriot owner of the land the Orams’ house was built on.
This will have a knock on effect for all foreigners who are foolish enough to buy in the North because it is cheaper there.

I do hope that you get your current problems sorted out but unless you manage to get out of the deal you may find yourself with far worse problems in the future