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www.sharmwomen.com • View topic - What?s a real estate contract worth? Nothing or less?
It is currently Fri Sep 24, 2021 5:54 pm

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Post new topic Reply to topic  [ 8 posts ] 

How's your experience as a real estate owner?
No problems at all. 20%  20%  [ 1 ]
Minor temporary problems. 40%  40%  [ 2 ]
Big problems, but solved. 0%  0%  [ 0 ]
Big problems, still running. 40%  40%  [ 2 ]
I want to sell! 0%  0%  [ 0 ]
Total votes : 5
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 Post subject: What?s a real estate contract worth? Nothing or less?
PostPosted: Fri Dec 21, 2007 10:23 am 
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Joined: Thu Dec 20, 2007 2:28 pm
Posts: 13
Location: Sharm el Sheikh
There are many good points of Sharm compared with Europe. In just a few words; always sun, nice diving and everything is cheap. With just 4 to 6 hours flight time buying real estate here becomes more and more popular. But after living here a while, you start mentioning the drawbacks easier then the reasons you came here for.

You find out the nice project where you bought your apartment is still a building site after a couple of years. Didn?t it mention lots of green and a swimming pool in the brochure? Bricks are laying where the green should be and the swimming pool is still an empty pit. If you could see at least a little progress it would be okay, but the only thing that?s growing is the garbage the ?security? dumps next to the main building. The only activity is from the fast growing rat population.

I can hear you think, but a contract? Of course, you think you covered everything with a nice contract when you bought the place. You and some other owners come together. Plan of action. Step one, a police report. You soon find out that Sharm police reports just get filed in a big dusty archive under the police station, feeding the rats also there? No action whatsoever is or will be taken.

Step two. The South Sinai Governor may have a bit more influence and political power. Is he willing to give a helping hand? For heaven sake, children are living next to apartments stuffed with garbage, walking down stairs without handrails, playing around electrical cabins with open copper wires. We are still waiting for an answer.

Step three. Along the way several lawyers were already paid. Sharm lawyers are well skilled. Yes, in taking an anticipated payment and never answer your phone calls. The tenth time they cut the power and water because the project owner doesn?t pay the money to the electrical and water company, after you paid him at double the tariff, you settle on just having the electric and water meter on your name. It should be just a formality, because it?s between you and the power and water company, without any involvement of the project owner. We are still waiting for the outcome of the court case opened at El Tur.

We keep you informed. In any case, if you are thinking about buying real estate, stick to the finished projects. Talk with the actual flat owners. Living here is worthwhile, but with the right precautions and that doesn?t include paper contracts. ?What you see is what you get? is still the best guideline if you want to play on safe.

You or somebody you know had a similar experience? Let's join together. Leave a post here.

See photo's here


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 Post subject:
PostPosted: Sun Dec 23, 2007 11:05 pm 
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Joined: Sun Jan 14, 2007 4:24 pm
Posts: 84
Location: Sharm el Sheikh.
Dear Sharmcliff Resident,

I see your problem from a more a social view than a legal one, but however I will talk about the legal aspect solely; your step (1) was right, issuing the police report, and of course the police will keep it in a BIG DUSTY OLD file! However their role ends here, you just have to obtain the number of the report, and your lawyer should be the one who'd carry it further to the court. The police report aims only to prove a certain situation at its very moment, then to be used later on as an evidence in the court, and you should sue the developer for compensation, unless the violation was too serious that you would press a criminal charge on them, without neglecting the civil aspect of the case, which is mandatory in this type of cases.

I respect your opinion and all about sticking to finished projects, but I'd like to draw your attention to the fact that prior to purchasing a property, your solicitor "or agent if reliable" should check the profile and background of the developer, including previous works and more information if possible. Without mentioning any names you can find very serious developers in Sahrm, and can also find amateurs who're still stumbling but trying their best, and also those who seriously don't care.

Kindly do not hesitate to enquire further if you have any questions on the legal side, while the other parts of the forum can be more social and would benefit you more to exchange experiences with other purchasers.

All the best,

Zeiad Yehia
Solicitor

_________________
Everyone has the power to make others happy. Some do it by entering the room, others by leaving it.


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 Post subject: Reply to Zeiad.
PostPosted: Mon Dec 24, 2007 7:03 pm 
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Joined: Thu Dec 20, 2007 2:28 pm
Posts: 13
Location: Sharm el Sheikh
Dear Zeiad,

"...prior to purchasing a property, your solicitor "or agent if reliable" should check...", "...you can find very serious developers in Sharm, and can also find amateurs who're still stumbling...". With all respect Zaiad, but when we bought the place it was through the biggest and best reputated english real estate agent in Sharm which name starts with a "P".

I will put a very solid legal question. End of this month a judge will decide (inshalah) if we can have the water and electric meter on our names. The project owner already says that she will not give the needed permission to lay new wiring and piping in the ground on her property. Does this judgement enforce her to give permission or do we have to start another court case for that against her. A small detail, time is in her favour, we pay the electric and water bill for the whole compound monthly, devided between the owners but including the lodgers of the apartments she rents out and irrigation which should be included in the maintainance that has already been paid to her. We are forced to do that because she will not pay. The water and power company doesn't accept a partial payed bill because the contract is still on her name.

Last but not least, I agree the original article is more social, but no right forum is available and creating a new one is restricted to a web admin.

In any case I thank you for your interest and wish you a Happy New Year!


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 Post subject:
PostPosted: Mon Dec 31, 2007 3:10 pm 
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Joined: Sun Jan 14, 2007 4:24 pm
Posts: 84
Location: Sharm el Sheikh.
Hello,

You are really welcome, and I hope that my suggestions in the private message can be of any help. Best of luck.

_________________
Everyone has the power to make others happy. Some do it by entering the room, others by leaving it.


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 Post subject: Locked in by a wall!!
PostPosted: Sun Mar 30, 2008 8:43 pm 
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Joined: Thu Dec 20, 2007 2:28 pm
Posts: 13
Location: Sharm el Sheikh
The project owner tries now every possible "legal" way to make our life impossible as revenge towards us for the action we have been taken with authority to protect our right.
Now they closed the entrances with a brick wall, so we can't enter with the car anymore.
Not only inconvenient when you want to unload the mineral water you bought, but most of all dangerous!! There is no way the truck of the fire department can reach any of the flats. What should we do in this case? Use buckets to extinguish the fire?
The fire department told us there are no regulations on the subject. We can't law enforce removal. This seems a bit strange and we wander if it's true.

see picture:


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 Post subject: Newspaper "Sot El Omma"
PostPosted: Tue Apr 15, 2008 2:32 pm 
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Joined: Thu Dec 20, 2007 2:28 pm
Posts: 13
Location: Sharm el Sheikh
Journalist heard about us and now there is an article on the weekly newspaper "Sot el Omma" (page n.10) - issued on 13th of April.

Is in Arabic but if you can get it translated!

See article at:


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 Post subject: City Countil takes first action against mismanagement!
PostPosted: Sat May 10, 2008 4:16 pm 
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Joined: Thu Dec 20, 2007 2:28 pm
Posts: 13
Location: Sharm el Sheikh


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 Post subject: Contract
PostPosted: Fri Jul 18, 2008 8:42 am 
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Joined: Fri Dec 28, 2007 9:51 am
Posts: 4
Hi Sharmcliff. I have a contract for an apartment I am buying in Nabq. The development is 18 months late. The developers have not honoured any part of the contract and do what they want to.
Approx 70 investors are now owed appro ?4000 in compensation. The apartments are of a very poor quality. The furniture package is very poor and damaged.
There is not enough skilled labour and the developers have no sheme and no honour, only arrogance. I could put up with alot more if they could actually deliver or make good on any of their promises.
I also engaged the services of a Lawyer, United Lawyers. They took my ?720 and gave me a contract outlining all the things they were going to do for me. Well you know what happened next. You guessed it, NOTHING.
They stole my money. I have been on other forums and UNITED LAWYERS appear often. All horror stories.
Well if you are being stiched up by your agent and or developer and think well I will just get a Lawyer to sort this out and be done with it think again.
Sharm is developing a terrible reputation on the net. There are some good stories to and many happy people I wish I was one of them. Unfortunately there are also dozens of forums with hundreds of people like me and sharmcliff who are desperate and frustrated and totelly let down. Not to mention seriously out of pocket.
I just hope that one day these people awaken with some decency and some morals, a miracle is needed.

Best Regards


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