L
Lysos
New Member
If you bought a new apartment in U.K. you would not be paying a maintenance/service charge before you had taken delivery, so why here ?.
G
glenndaleuk
New Member
Hi
Some management companys are not as diliagent as others when it comes to collecting payments, infact a big chunk of your payment probably goes into the collection process itself. Consequently in ten years time when you have bloody great potholes to fill inn on the road it won`t get done along with a load of other things I can think of. The system in the UK is rubbish.
Glenn
M
maggie
New Member
I myself have never brought an off plan apt in the UK so I really cant comment on that. But some of us seem to forget that we are buying in Egypt not the UK so we go by their rules. I know there are people who are working behind the scenes to try and make these rules alot more fairer for the investers. But at the end of the day, no one forces any one to buy or signed a contract that we are not happy about.
But I would like to know what the problem is, is it because some people are afraid the develoment wont get completed or that once Orascom have got our money they wont look after it?
Or is it just the princable of it?
Maggie.
Ps, please dont start me off about potholes or road humps. I,v got a 1960s mini and i,m fed up of haveing to get my exhaust repaired because of them.
L
Lysos
New Member
Please, people. Wake up & smell the coffee. You don't pay for something before it is due. All this talk of potholes is laughably irrelevant. You don't havey our property ; you can't stay in it; you can't let it. If you bought a new car in UK would you be paying to have it serviced before you had driven it ?.
M
maggie
New Member
Veronica
Administrator
Why would you pay maintenance before the property is ready for occupation?
How can that make any sense at all?
I agree with Lysos that you should not be expected to pay any sort of maintence fees until the project is finished. It is total nonsense and just a way to get more money out of you. Obviously the developers think you all have more money than sense and are trying to milk you for the last little drop.
How can that make any sense at all?
I agree with Lysos that you should not be expected to pay any sort of maintence fees until the project is finished. It is total nonsense and just a way to get more money out of you. Obviously the developers think you all have more money than sense and are trying to milk you for the last little drop.
M
maggie
New Member
At the end of the day its got to be paid sooner or later, and I for one would sooner pay it and get it over with, it will be one less thing to worry about . You could turn it round and say why pay for an aprt thats not finished yet. But if any one else dont want to pay theirs then thats up to them. end of
Maggie
L
Lysos
New Member
Maggie, you are a salesman's dream !. Everything in life has to be paid for sooner or later, but the normal procedure is to pay bills when they are due. Imagine in UK if the local council said they wanted you to pay next year's Council Tax now ?.
No, don't tell me, you would pay it.
No, don't tell me, you would pay it.
M
maggie
New Member
I,m not as daft looking as the grass is green. You might be right I might be wrong. But we all signed our contracts and had a solicitor to look them over so why are people now complaining about whats in their contracts . If your not happy, why did you sign it.? Did any one get their solicitor to ask orascom why we had to pay it before the aprts are completed. I know mine asked about haveing to sell the aprt back to Orascom if I wanted to sell it, as he thought it was not fair as I have paid for it and I should beable to sell it too who I wanted too. But they would not budge on that. I also ask GDI about it and was told it was a standed clause in Orascom contracts. So at the end day it was my choice to say no i,m not buying under those terms or buy it. As for my council tax mine goes from 28/04/2010 - 28/05/2011. But like i,v keep saying we are not buying in the UK. Which number is your aprt ? I hope its in the same block as mine, we could have some right nights over a drink or 2 trying to put the world or should I say Egypt to right. For arguments sake lets have a vote on who's for paying it and who's not.
maggie
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G
glenndaleuk
New Member
Yup Whatever
M
maggie
New Member
I,v just found this on the web and I quote
El Gouner
The town's developer, Orascom hotels & development remains actively involved in the town, managing the day - to day maintanece and up keep of the city's power grid, water works,roads,schools,liberary, hospital,golf course, marina ,and security for all its residents. un qoute
Does,nt that sounds reassureing
El Gouner
The town's developer, Orascom hotels & development remains actively involved in the town, managing the day - to day maintanece and up keep of the city's power grid, water works,roads,schools,liberary, hospital,golf course, marina ,and security for all its residents. un qoute
Does,nt that sounds reassureing
C
chris_property
New Member
It seems like Orascom are coming through well on this developmemt and have the proven track record. I can understand that there are concerns paying maintenance before completion, BUT, I would have much greater concerns if maintenance was to be paid after completion as getting in near 3000 maintenance payments after hand over would be very hard
I know this as I have repeated many times from dealing with maintenance payments in a complex, if a strong system is not put in place for payments there will be a percentage that will not pay. There will be investors buying who may never use or appear for several years and maintenance will be an after thought for many of them, so this system will ensure they pay as well so there should be 100% payment by all buyers.
Getting maintainace in half way through contract ensures payment by all which is in all our interests. Unless any buyers have this changed in the contract and agreed by Orascom then this is what each of us is going to have to do.
Cheers,
Chris
I know this as I have repeated many times from dealing with maintenance payments in a complex, if a strong system is not put in place for payments there will be a percentage that will not pay. There will be investors buying who may never use or appear for several years and maintenance will be an after thought for many of them, so this system will ensure they pay as well so there should be 100% payment by all buyers.
Getting maintainace in half way through contract ensures payment by all which is in all our interests. Unless any buyers have this changed in the contract and agreed by Orascom then this is what each of us is going to have to do.
Cheers,
Chris
M
maggie
New Member
Hi Chris
I agree with every thing you have said. My way of thinking is that the time its takeing for my contract to be ammended all because some one put a h in the wrong place, then I would be surprised if Orascom would re wright most of the contract again by haveing to take one clause out. As for as I know I was the only invester in Makadi that my solicitor had. I would not go with the solicitor that GDI recommended, but from what GDI said most of their cliants did. So it would be interesting to see how many, if any, has had their contract changed.
Maggie
R
rumbaba
New Member
Ok everyone,
I contacted the developer today regarding the maintenance payment. They said it is due 6 months prior to hand over of each apartment. I think this is reasonable.
I suggest you contact them to confirm when your maintenance payment is due.
I contacted the developer today regarding the maintenance payment. They said it is due 6 months prior to hand over of each apartment. I think this is reasonable.
I suggest you contact them to confirm when your maintenance payment is due.
M
maggie
New Member
Thanks rumbaba.
maggie
C
charliesienna
New Member
has anyone had any feedback in regards to handovers of their appartments.i bought in q1 but havent had any news at all relating to completion , or maintanance....
M
Mussa1
New Member
No news from developer regarding handover as yet, but your maintenance payment schedule should be on your contract?
S
Steveand Christine
New Member
There is a clause in the contract referring to the "Services & Maintenance Agreement" which states that 'Six months prior to the delivery of the unit, the buyer will enter into the Services and Maintenance Agreement' and another clause states 'Upon signing the "Services and Maintenance Agreement" the buyer shall pay an aamount equal to 6.5% of the purchase price of the unit as his contibution to a fund established to cover the costs for the services and maintenance ........'
So, we pay this money when we get this agreement to sign. Has anyone received it yet or has anyone been asked for the money?
If the money is not paid on time it will acrue interest and you will have to pay more (it is only 8% per annum).
When you take delivery of your unit you need to make a down payment for the charges of electricity, water and telecommunication facilities, this is in accordane with the Services & Maintenance agreement.
Something else to consider prior to taking delivery is to arrange for your kitchen and air conditioning to be fitted or is the handover just the shell and these are fitted afterwards.
Other items to consider are fans, water heater, bathroom fittings (inc shower curtain rail) and light fittings (these were all extras at our apartment in British Resort and all involve drilling, something that would be difficult for us to do ourselves. It would be better for the developer to do these for us.
Steve & Christine
G
glenndaleuk
New Member
Thanks Steve & Christine for reminding me about all the finishing costs I will have to find. Was wandering about the air con are there any details about what is available in Hurghada, ie whould it be better to use one of those square boxes fitted on the wall or maby a mobile unit. Even a fitted unit with heating incorporated into it like they use in some Spanish homes.
C
charliesienna
New Member
Thanks mussa for the reply, i bought through colour investments and in the preliminary break down costs over the 5 year it states that there will be a 1 off payment of 6.5% payable upon completion. ive contacted nick wallwork [colour inv] he states that the payment is writen into the payment plan so will that be the payment that is due at the end of this month. it contradicts itself
