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David howe
New Member
We are currently being inundated by people who have bought in the Greenfields residence in Bucharest.
In light of this I think i is appropriate to have a thread so people who have bought can share information in relation to this development and how best to proceed.
Initial points I would like to make for the benefit of people who have bought are.
1. If you have bought ground floor additional security will be needed on the windows. Without this desirability to a potential tenant will be restricted.
2. PVC doors are not acceptable in Romania and persons buying are advised to change these for standard issue Romanian doors. This will be applicable on all floors
3. The access road into the development looks as if it was a concession conditional during construction and will not be available for tenants or owners. This however has still to be confirmed, but numerous Romanian forums are stating this.
4. It would appear that Pireaus bank who were allegedly initially doing the finance for this are no longer willing to finance the property.
5. Completion has been put off until 1 May, there are many rumors this may now be July but has yet to be confirmed and as I say is merely Rumor. Those with an expressed interest should seek clarification.
6. I think it is imperitive that anyone buying should have an independant surveyor approving the purchase before completion as failure to do this could later on show many problems that could have initially been identified on a snag list. (Much easier to have things fixed before you pay than chase someone after)
6. Furniture packs for 1 bed apartments should be in the region of 5-7,000 dependant on what is needed.
7. Property management should cost you half of the 1st months rent as a finders fee and 10% of additional months for management. Persons renting are advised to do rental contracts in euros as is the process in Romania.
8. Seek references of anyone you are dealing with!
9. Ensure you have a contract with the lawyer who is representing you so that he is liable to you. No contract, no liability!!!!!!!
10. Beware of penalty clauses!
David Howe
Investment Romania - Property Romania, Invest Romania, Investment Romania
In light of this I think i is appropriate to have a thread so people who have bought can share information in relation to this development and how best to proceed.
Initial points I would like to make for the benefit of people who have bought are.
1. If you have bought ground floor additional security will be needed on the windows. Without this desirability to a potential tenant will be restricted.
2. PVC doors are not acceptable in Romania and persons buying are advised to change these for standard issue Romanian doors. This will be applicable on all floors
3. The access road into the development looks as if it was a concession conditional during construction and will not be available for tenants or owners. This however has still to be confirmed, but numerous Romanian forums are stating this.
4. It would appear that Pireaus bank who were allegedly initially doing the finance for this are no longer willing to finance the property.
5. Completion has been put off until 1 May, there are many rumors this may now be July but has yet to be confirmed and as I say is merely Rumor. Those with an expressed interest should seek clarification.
6. I think it is imperitive that anyone buying should have an independant surveyor approving the purchase before completion as failure to do this could later on show many problems that could have initially been identified on a snag list. (Much easier to have things fixed before you pay than chase someone after)
6. Furniture packs for 1 bed apartments should be in the region of 5-7,000 dependant on what is needed.
7. Property management should cost you half of the 1st months rent as a finders fee and 10% of additional months for management. Persons renting are advised to do rental contracts in euros as is the process in Romania.
8. Seek references of anyone you are dealing with!
9. Ensure you have a contract with the lawyer who is representing you so that he is liable to you. No contract, no liability!!!!!!!
10. Beware of penalty clauses!
David Howe
Investment Romania - Property Romania, Invest Romania, Investment Romania
