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Handover dates / Completion

Discussion in 'Egypt property' started by queenie40something, Feb 18, 2008.

  1. queenie40something

    queenie40something Senior Member

    Hi all

    As some of us are nearing completion date I thought I would start a thread on handover dates.

    1. When is your handover date for your property.

    2. Are you confident that it will be completed on time if so why / if not why

    3. If your handover date has been on gone has anyone received any late payments from their developer.

    4. If your property is part of a resort what is the estimated completion date.

    My completion date is 28th Feb. From the last conversation I heard with the developer last week he was pretty confident that my apartment ( not the resort ) would be completed ready for me to furnish end of the month or March. He is currently in Sharm and promised me an update from the site.
    Currently the hotel is set to be completed June this year and the whole resort October. I cant really see this being finished on time as they have quite a few blocks that they havent started to lay a brick on yet.

    So watch this space!
     
  2. awahee123

    awahee123 Banned

    Hi Queenie,

    My hand over date is end of March.I hope it will be ready but you never know,if thhis date is extended then my contract states x amount of pounds can be deducted from the balance,so we will see,I can't remember exactly how much per week it is without getting my contract out.
     
  3. nuttybird

    nuttybird New Member

    Hi Queenie
    My original handover date for my finished apartment in British Resort (not the whole complex) was march/08.But it was not ready until Sept/08 and they wanted the final payment straight away in sept(even though i couldn"t get a flight at that time) so i had to send over my money without even seeing the finished apartment......not good!
    I"m actually not sure now where i stand if the apartment isn"t finished to how i asked.
    Any ideas?
    Thanks
    Karen
     
  4. nuttybird

    nuttybird New Member

    woops!!!! i meant september/07!
    But i"m sure you all knew what i meant!!:rolleyes:
     
  5. queenie40something

    queenie40something Senior Member

    Hi Nutty - have you looked in your contract as you should have a clause where the developer will pay you an agreed amount each week / month that it is late?
     
  6. queenie40something

    queenie40something Senior Member

    Shall we have a bet to see who's will be ready 1st??
     
  7. dave99

    dave99 New Member

    Not a good contract by the sound of your note

    Surprised that your contract allowed this to happen - it's bad news if the final payment is not linked to completion in some way.
     
  8. awahee123

    awahee123 Banned

    No,no,no


    No i'm not betting today I know you will win.Where you stying in Sharm?..
     
  9. nuttybird

    nuttybird New Member

    Think i"m having a blond moment!
    Just looked through my contract,and the whole complex is due to be finished in march/08(which i think it will be)
    My apartment was finished in sept/07,and i had 60 days to pay the final settlement. I couldn"t get back to Egypt in that time,so i forwarded my payment.They have sent me a receipt.And i will be signing my contract when i check my apartment and get the keys.
    Does this all seem ok?
    Thanks
     
  10. dave99

    dave99 New Member

    I hope you have already signed a contract

    I hope you have already signed a contract if you've paid everything.

    I think what you're thinking of is something that passes the ownership to you from the developer which you will use to register the apartment in your name.
    ..
     
  11. nuttybird

    nuttybird New Member

    The registration process is going through now.But am i right in thinking this can take up to 6 months?
    How can some developers hand over the keys and let people have their apartments if the registration has not been finished?
     
  12. dave99

    dave99 New Member

    Registration

    The registration process is going through now.But am i right in thinking this can take up to 6 months?
    How can some developers hand over the keys and let people have their apartments if the registration has not been finished?


    The registration can be completed within days if you are in Hurghada and go with a lawyer to the Registarion office with all the correct documents
    - if you are using a Power of Attorney (not recommended for this task unless you KNOW the lawyer) then it will take as long as the lawyer lets it take.

    The handover of keys is an arrangment between you and the previous owner / developer during which you complete a legal contract
    - you do not HAVE to register the apartment but it is best to do so.

    .
    .
     
  13. nuttybird

    nuttybird New Member

    Thanks for your help Dave,much appreciated.

    Any buyers in British Resort got any views on this??? What have you done about registering your property"s?
     
  14. nuttybird

    nuttybird New Member

    Good luck Queenie! Hope it gets finished in time,when are you going out there?
     
  15. philthecar

    philthecar New Member

    hi there we have bought into oasis resort which is due for completion between Sept and December 3lst 2008. If not completed by this time we have contained in our contract a penalty clause which if we recall right is 25 pounds per week or per month, however, it looks like everything has been built on time and they have just started decorating the interior of the apartments. We are very pleased with progress to date although not sure how long we have before we have to collect the keys as if completed in december dont really want to have to go over at this time of year to collect them but hey as long as its cmopleted on !!!!
     
  16. mtrtnik

    mtrtnik New Member

    Dave,

    can you state what documents do you need in order to finish registration within few days? My company purchased few apartments in Suleder and it's suppose to be finished in April (which I doubt, but never say never) and I'd like to prepare all neccessary papers before I go to Hurghada. Also if you have any information how much process of registration apartment costs? Does it depend on size/price of apartment or is the same for all?
     
  17. queenie40something

    queenie40something Senior Member

    Hi - dont know about that!! As soon as we have a definite handover date we need to get over within 60 days to go through a snagging list. Only flight booked so far is October and we are staying in Hadaba which is about 30 mins drive from Nabq where the apartment is.

    Thanks Nuttybird xx
     
  18. awahee123

    awahee123 Banned

    So queenie have you seen your development? if so how far do you think the finish date may stretch to?..By the way are you enjoying yourself that's the main thing.
     
  19. queenie40something

    queenie40something Senior Member

    Hi awahee - I was last out there end of Nov / beg Dec. From the updated photos that I was sent last week there appears to be quite alot of progress on the exterior. We are one of a block of 7 that surround the pool that is in the middle. It looked like all these blocks have now been rendered since my last visit and some have started to have the windows installed. It is difficult to say whether I think it will be ready ( to furnish but not to use due to the building work on all the other blocks ) until I have some updated pics of the interior. When I went in October then again Nov / Dec nothing at all had been done inside and it was basically just a shell full of wood and shavings. No plumbing, plastering, windows etc. I believe that the paperwork has now come through from the government with regards to the electric and water. They were going to fill the water resorvoirs last week and again waiting for an update.
    I am enjoying the process of buying and the anticipation, excitement etc. Cant wait to get back out there!!

    If I get any updated pics I will post some on the Sierra thread.
     
  20. awahee123

    awahee123 Banned

    Sorry, I was under the impression you were in Sharm,I don't know what made me think it.
    I bet you are thinking why is he asking me am I enjoying it,I was asking if you were enjoying Sharm Lol.
    Oh dear I must be losing it....
     
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