Tangier City Apartments Investors

[seanmcallister]

The email address of Anette and Peter [email protected] they run a business furnishing apartments in Morocco and have bought a Tangier City Apartment are furnishing for some others as well as letting. they would be a good contact to try bring us who have bought on Tangier City Apartments together. i suggest contacting them.

 

[Lee Filkins]

subject

Can you please confirm that you were offered three mortgages. It is my understanding that:

As a non resident you are only allowed one mortgage by law, so how were you offered three ???? and by whom i.e. which bank ??

 

[seanmcallister]

Yes 3 mortgages offered. BMCI bank Morocco, all done through Spanish Mortgage alliance. i went to open my bank account with them recently and have placed deposit funds into my account. they now await title deeds before proceeding with the offer. or so they say?

 

[Lee Filkins]

subject

Thank you for your reply. Did you, or the mortgage broker raised this between yourselves that it is against the law & you have to provide a sworn affidavit to confirm that you can only hold one mortgage at a time.

Did the Bank not asked you for it. Have the properties been completed & you have notarised the mortgage etc. Is your mortgage offer a preliminarily offer ????

Your three mortgage offers opens up an interesting issue as to the law in Morocco & how effectively it has been implemented !!!!

 

[seanmcallister]

all mortgage quotes are 'offers', i also heard about the law against more then one mortgage but have now been told the law is 3?? i don't know, each day is a new discovery...

Thank you for your reply. Did you, or the mortgage broker raised this between yourselves that it is against the law & you have to provide a sworn affidavit to confirm that you can only hold one mortgage at a time.

Did the Bank not asked you for it. Have the properties been completed & you have notarised the mortgage etc. Is your mortgage offer a preliminarily offer ????

Your three mortgage offers opens up an interesting issue as to the law in Morocco & how effectively it has been implemented !!!!

 

[Na Fianna]

Hi All,

I bought two apartments in Tanginer City Apartments development back in May 2007 from Siroco Estates and put down a deposit of £32000 pounds. So far I have had a bad experience with them.

We were told these would be ready end of Aug'07. August came and went and no word, so i contacted them and I was told they would now be ready end of Oct'07. This came and went, and then i was told they would be ready Jan'08. It's nearly middle of Jan'08 and still no word on completion

I would be very interested in hearing from other investors on their experience and would like to form a action group to either get our deposits back or get some answers on when these will be completed. I am planning on visiting the development site end of Jan’08 and have asked to meet with both the Siroco estate and the developer (Urbamed S.A.R.L.) representative. I will update this thread if i get them to agree (i doubt very much).

From my own experience I would say to anyone thinking of buying off plan abroad is “think again” ! You have no guarantee when the development will be completed and the contract will not stipulate it. Once your money is in the hands of the foreign companies you have no control and the agents/solicitors/developers will wash their hands of you.

Anyone wanting to contact me can do so by emailing me via this forum.

Agents: Siroco Estates
Solicitors: Law & Taxes, S.L.
Developers: Urbamed S.A.R.L.

Hi

I am afraid Siroco Estates can take advantage of the law in Morocco to force investors into a corner. It appears I have lost €3506 reservation deposit because Siroco Estates will not commit to any form of conflict resolution in regard to legal concerns raised by my solicitor. I have been told that I did not forward the outstanding 30% within a 14 days of receipt of the contract and as such I forfeited all rights to the property because I was unwilling to enter into a legally binding document that my solicitor could not determine good title on. Don't mean to scare anyone else but I am all in favour of forming an action group because I was mislead from day one and the agents that I contact to purchase appear to have all but washed there hands of me. What’s worse is that they recommended the solicitor that informed me of the irregularities figure that one out.

 

[seanmcallister]

hi vimal
i have just been informed that mark wilkinson, the director of sirocco is in fact the director of the development company which i suspected all along. b
best sean

 

[investor27]

Sean, Just goes to show Sirocco are the developers behind project but are just telling us they are agents... wonder what they would have to say about this? anyone fancy asking the question, if I had reserved here then I sure would!...

 

[Paul the mackem]

tangier appartments

hi vimal
i have just been informed that mark wilkinson, the director of sirocco is in fact the director of the development company which i suspected all along. b
best sean

hi. i have just found this forum.can anybody update me on any aspects of this development or paradise beach and golf.have purchased one appartment on each complex.many thanx.

 

[investor27]

Hi, im unable to provide an update on Tangier City Center apartments but for PBGR take a look at the following site: Paradise Beach And Golf Resort

 

[saopacic]

hi everyone,

I bought one of the appartments in Tangier via Sirocco Mark Wilkinson. I was told some weeks ago that there is a legal dispute regarding appartment finishing. Sister went there to see them and THEY ARE NOT FINISHED YET! apparently it looks like a building site.

What is your experiance.

You can contact me privatly if you want to share views and work out what the next step is in getting this done and over.

 

[Na Fianna]

Tangier

Hi

Do you mind if I ask you what the number of the apartment is?


Regards

 

[verosac]

tangier city apartments

[Hi I read about your experience regarding Tangier City Apartments. I also bought an apartment there & have had the same experience as you. I recently had an email from them stating they were now ready for completion. I have been asked when I wish to come to complete. I was due to go at christmas but had to delay. Since then I have had no contact. My concern is 1) I have been told I have to pay the outstanding amount on the day of completion BUT I will not be given the keys at this time. The keys will not be handed over until maybe 2-3 weeks later. I have never had this happen before as if you hand over the money on the day of completion then surely you should be given the keys. 2) How safe is it to send transfer the outstanding balance before the date of completion. 3) How reputable is Sirocco estates? Has this happened to any other purchasers. I am hoping to go in the next 1-2 months from London, is there any one else going around this time? I would really appreciate hearing from 'fellow neighbours'.
Thanks.
Verosac
QUOTE=MoroccoInvestor;26065]Hi All,

I bought two apartments in Tanginer City Apartments development back in May 2007 from Siroco Estates and put down a deposit of £32000 pounds. So far I have had a bad experience with them.

We were told these would be ready end of Aug'07. August came and went and no word, so i contacted them and I was told they would now be ready end of Oct'07. This came and went, and then i was told they would be ready Jan'08. It's nearly middle of Jan'08 and still no word on completion

I would be very interested in hearing from other investors on their experience and would like to form a action group to either get our deposits back or get some answers on when these will be completed. I am planning on visiting the development site end of Jan’08 and have asked to meet with both the Siroco estate and the developer (Urbamed S.A.R.L.) representative. I will update this thread if i get them to agree (i doubt very much).

From my own experience I would say to anyone thinking of buying off plan abroad is “think again” ! You have no guarantee when the development will be completed and the contract will not stipulate it. Once your money is in the hands of the foreign companies you have no control and the agents/solicitors/developers will wash their hands of you.

Anyone wanting to contact me can do so by emailing me via this forum.

Agents: Siroco Estates
Solicitors: Law & Taxes, S.L.
Developers: Urbamed S.A.R.L.[/QUOTE]

 

[saopacic]

Hello again,


The buildings are semy finished. My appartment should be in block E which is at the back next to canal. I was also promissed that canal would be covered and area around it developed. However, this has not happpened yet. The area is muddy and miles away from being as described originaly. I may upload some pics if you are interested to have a look at it.

 

[verosac]

Tangier city apts

Yes I would love to see the pictures. Have you been told your apt is ready?[
QUOTE=saopacic;92425]Hello again,


The buildings are semy finished. My appartment should be in block E which is at the back next to canal. I was also promissed that canal would be covered and area around it developed. However, this has not happpened yet. The area is muddy and miles away from being as described originaly. I may upload some pics if you are interested to have a look at it.[/QUOTE]

 

[verosac]

tangier city apts

Hi again,
Can you let me know how I can contact you privately to find out more about this situation.
Thanks
Verosac

hi everyone,

I bought one of the appartments in Tangier via Sirocco Mark Wilkinson. I was told some weeks ago that there is a legal dispute regarding appartment finishing. Sister went there to see them and THEY ARE NOT FINISHED YET! apparently it looks like a building site.

What is your experiance.

You can contact me privatly if you want to share views and work out what the next step is in getting this done and over.

 

[um zineddine]

siroco estate

Hello again,


The buildings are semy finished. My appartment should be in block E which is at the back next to canal. I was also promissed that canal would be covered and area around it developed. However, this has not happpened yet. The area is muddy and miles away from being as described originaly. I may upload some pics if you are interested to have a look at it.

Hi everyone,
I bought a property with siroco estate in fez, sunset appartment, it is finished and it looks magnificent, we spend our summer holiday there, I had some worrying moment, especially about the contract, and if you call siroco estates they will ask you to contact their office in fez, i have got my contract for the appartment but what worries me is there is stamps but not my husband's signature, i called siroco estate to find out more but they asked me to call their office in fez, I couldn't get through today i will try tomorow, the only think i am not happy with is, siroco estates needs to answer all our question and be able to make clear the procedure of buying in morroco, i don't know anything about the law in moroco and what is required and if the contract i got fulfill all the requirment. by the way my husband signed with the notary, but i am still puzzeled, good luck with your purchases.

 

[saopacic]

I am not allowed to post my e-mail address. You can send me a private messsage or can you put your e-mail add here. Think you need to be an active member to do that

 

[Na Fianna]

hi everyone,

I bought one of the appartments in Tangier via Sirocco Mark Wilkinson. I was told some weeks ago that there is a legal dispute regarding appartment finishing. Sister went there to see them and THEY ARE NOT FINISHED YET! apparently it looks like a building site.

What is your experiance.

You can contact me privatly if you want to share views and work out what the next step is in getting this done and over.

Hi

You might not know me but I regularly visit this forum for updates on the Tangier City Apartment Development. I to purchased a property in that development but I withdrew losing a large reservation but I feel that any new investor should be aware that Sirocco Estates are not a company one should have any dealings with. They are master selling agents to this development and as such are responsable for dealing with the developer Umbrand and it director Mr Ball how treats his clients very poorly to say the least. If i were you I would have the private contract you recieved reviewed by an independent legal expert as the contract I recieved had legal faults that Mark Wilkinson dismissed. Rest assured Mr Wilkinson if your reading this information, in time what goes around comes around. To you my friend please get your contract reviewed for your own sake.

 

[saopacic]

pic from the site

couple of pics from the site. As you can see canal is not covered.