Al Rivera Beach

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Randall

Randall

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Cheers propertastic.

I know where to come then if i ever want to rent it out..
 
Randall

Randall

New Member
Hi

Someone has posted elsewhere that this development has been frozen?

Any answers to this.

Cheers
 
Randall

Randall

New Member
Hi All

I have just had an e mail from my agent who now says they are unwilling to sell properties at Rivera any more. They claim that because they cannot guarantee this development now and they only deal with developers who are 100% legal they want me to claim a refund? Is this a little over the top or wise.

Cheers
 
L

Lsab

New Member
Hi Randall - guess it depends on whether or not you trust your agent. I know that if mine told me what yours told you, I'd definately pull out. I rely on my agent for information as I can't get out there and see for myself or meet the developers. I suppose you could wait and see what others have to say but I understand how you feel. This is the second one that hasn't worked out for you isn't it? Third time lucky :):)
 
K

kevin789

New Member
Sorry Isab,
Not sure what these messages mean ? is Rivera Beach no longer for sale ?
 
Randall

Randall

New Member
Hi Isab

Yes i will keep trying until i get one. Still not had my £1k back from PHW yet despite all of their promises since Feb.

My agent says another development might be coming on their books next week near to Rivera. Does anyone know about that one yet.
 
Rytcher

Rytcher

New Member
Do not forget to let me know.

Hi Isab

Yes i will keep trying until i get one. Still not had my £1k back from PHW yet despite all of their promises since Feb.

My agent says another development might be coming on their books next week near to Rivera. Does anyone know about that one yet.
 
P

propertastic

New Member
To let everyone know the current situation on Rivera Beach, the project is back on again.

It is true that we put a freeze on sales for 48 hours while we obtained more information regarding the land ownership and planning permits for the project.

Yesterday evening, Peter and I had a long meeting with the developer where they were able to produce all of the documents that we required. These documents have now been sent to an independent lawyer in order to verify all of the details. The lawyer in question is totally unassociated with the developer and so will be acting on behalf of buyers at Rivera Beach and them alone. All funds will be received by the independent lawyer into an escrow account, giving an additional level of security to buyers of this development.

The process will probably take a couple of weeks. Until this is put in place, we are holding units for serious buyers who will be asked to complete reservation forms and send a fully refundable deposit equal to 5% of the property's value pending release of the contracts.

We apologize for any inconvenience caused by the freeze for a period of 48 hours, but the interests of our clients come over the interests of the developers that we work with and so we are not going to sell any projects unless we are 100% sure that they will be delivered as promised.
 
queenie40something

queenie40something

Senior Member
Thanks for the update Nick and for putting peoples minds at rest.
 
Randall

Randall

New Member
Hi Propertastic

Would you advise sticking with Rivera Beach?
My agent is today talking to Property Revelations about the latest situation.
She still claims that sales are on hold but will inform me of any news later today.
This is a fantastic forum for information because when i e mailed her Friday night she only knew about problems that afternoon and was amazed that i had already been told.
Keep up the good work everyone and any advice will be greatly appreciated.
 
Rytcher

Rytcher

New Member
We are neighbours now

Hi Randall,

We are going to be neighbours in some time in future:). I've just booked a 2 bedroom appartment:eek: in Rivera beach in block B. That is descision which was made after a long consideration inside of the family and exchange of emails with the agent. Actually the idea with the escrow adds confidence thath the project will be once implemented and provides security that the mony I invest would not be lost.

By the way the information which your agent has is outdated - the booking is up again, the terms have slightly changed - now they ask for a 5% depostin and 35% first payment. the rest is without change. They will start accepting the money only after the escrow is set up.


Hi Propertastic

Would you advise sticking with Rivera Beach?
My agent is today talking to Property Revelations about the latest situation.
She still claims that sales are on hold but will inform me of any news later today.
This is a fantastic forum for information because when i e mailed her Friday night she only knew about problems that afternoon and was amazed that i had already been told.
Keep up the good work everyone and any advice will be greatly appreciated.
 
L

Lsab

New Member
Hi Propertastic

This is a fantastic forum for information because when i e mailed her Friday night she only knew about problems that afternoon and was amazed that i had already been told.
Between them, the members here have all the inside knowledge :D
 
realestatemart

realestatemart

Banned
Hi Randall,

We are going to be neighbours in some time in future:). I've just booked a 2 bedroom appartment:eek: in Rivera beach in block B. That is descision which was made after a long consideration inside of the family and exchange of emails with the agent. Actually the idea with the escrow adds confidence thath the project will be once implemented and provides security that the mony I invest would not be lost.

By the way the information which your agent has is outdated - the booking is up again, the terms have slightly changed - now they ask for a 5% depostin and 35% first payment. the rest is without change. They will start accepting the money only after the escrow is set up.
congratulation Rytcher on your investment
 
Randall

Randall

New Member
Hi All

Well done on your purchase Rytcher. I would like to stick with this development but have had no reply from my agent yet. i told her all about the 5% etc and she is checking it out.
You are right with an Escrow you are not going to lose money and by the time it is set up all relevant legal wrangles as to land title etc should be sorted anyway.

What price did you get a 2 bed for. I paid £21.725 for a 1 bed overlooking the garden in block I, the same as realestatemart...Bet he only paid 15k though.
 
Rytcher

Rytcher

New Member
Randall I do not know if it is OK just to post the prices on the forum. I'd better send you a private message in a moment.

Hi All

Well done on your purchase Rytcher. I would like to stick with this development but have had no reply from my agent yet. i told her all about the 5% etc and she is checking it out.
You are right with an Escrow you are not going to lose money and by the time it is set up all relevant legal wrangles as to land title etc should be sorted anyway.

What price did you get a 2 bed for. I paid £21.725 for a 1 bed overlooking the garden in block I, the same as realestatemart...Bet he only paid 15k though.
 
L

Lsab

New Member
Hi Rytcher - as long as you're not trying to sell them it's OK to post the prices!
 
realestatemart

realestatemart

Banned
Hi All

Well done on your purchase Rytcher. I would like to stick with this development but have had no reply from my agent yet. i told her all about the 5% etc and she is checking it out.
You are right with an Escrow you are not going to lose money and by the time it is set up all relevant legal wrangles as to land title etc should be sorted anyway.

What price did you get a 2 bed for. I paid £21.725 for a 1 bed overlooking the garden in block I, the same as realestatemart...Bet he only paid 15k though.
Randall
Following New payment tms:
5% reservation fee (fully refundable up until contract).
35% upon signing contract within 21 days of reservaton
25% six months following signing of contract
25% twelve months following signing of contract
5% upon completion
5% upon handover
 
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