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Thalassa beach resort

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penfold


Joined: 13/07/2008
Posts: 1

Message Posted:
13/07/2008 13:33

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Message 1 of 12 in Discussion

a friend visited this development some time ago but decided not to buy. I have seen the literature which is impressive. Any feed back from buyers please and has the building started. Thanks



Gooses


Joined: 16/07/2007
Posts: 60

Message Posted:
14/07/2008 12:02

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Message 2 of 12 in Discussion

Penfold - building has started and they are at foundation level and for some blocks skeleton stage. There are been some issues with changes to apartments and sizes but on the whole i think that most buyers are happy. We have had no problems and still think the complex will be great and a good long term investment.

If you go back over the forum pages you will see lots from Thalass buyers.



Gooses



Tysee


Joined: 24/04/2008
Posts: 13

Message Posted:
14/07/2008 12:16

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Message 3 of 12 in Discussion

Also, if you get a deal, grab it as the developer is going back on some deals agreed with previous purchasers and is refusing to sign contracts on the deals agreed.



bit dodgy...



Gooses


Joined: 16/07/2007
Posts: 60

Message Posted:
14/07/2008 13:20

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Message 4 of 12 in Discussion

Penfold - you may want to email Stu Simpson who has got a lost of Thalassa buyers and we have an offline email network so we can share any issues. He can give you more info on any issues -

Tysee - it may help penfold if you can give more detail on the history behind your comments - I can only speak from my own experience which has been fine



Maverick


Joined: 07/05/2008
Posts: 4

Message Posted:
15/07/2008 16:59

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Message 5 of 12 in Discussion

Tysee - I also have experienced first hand that the developer is refusing to sign agreements at prices agreed at reservation. They are also refusing to refund reservation deposits etc... It would seem that the developer is getting greedy and I would suggest that anyone entering a reservation deposit does so with caution. Word of warning that Savills are only acting as agents for this development and the contracts are direct with the developer. This means that Savills refuse to accept any liability in any part for the developers failure to honour the reserved agreements.



Remember also that the developer has a legal obligation at reservation to sell to the buyer at the agreed price and a failure on his part consitutes a breach of contract and you could take legal action against them in order to force the sale. I know that several purchasers are already seeking interim injunctions against properties that they have reserved and they have refused to sign. This could of course have obvious ramifications on the other properties on the development if the land had injunctions registered against it when it comes to issuing title documents.



Tysee


Joined: 24/04/2008
Posts: 13

Message Posted:
15/07/2008 19:10

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Message 6 of 12 in Discussion

Hi Gooses & Maverick,



I'm ok contract wise - I made sure I notified them of me lawyer and got the stuff all done and dusted, signed sealed and delivered in about 2 weeks flat.



A mate got refused recently, because he went on hols after putting down his reservation, so forgot to appoint a lawyer, and ended up not exchanging within the 30 day period. He quickly renegotiated his deal, but only lost a extra 2% discount. He's kicking himself, much to my delight. He doesn't learn from previous mistakes, we had this problem in Spain as well 10 years ago.



Tyce



Gooses


Joined: 16/07/2007
Posts: 60

Message Posted:
15/07/2008 21:00

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Message 7 of 12 in Discussion

Maverick



Why did KDG refuse to honour the agreed price? I know we had the 30 day deadline otherwise we would have lost deposits etc but we got it all sorted out in time so had no issues. Do you know how many others are having problems - maybe they should all get together to argue it out with KDG It is such a shame that some of you are having such a bad time when others are ok.



Good luck with geting it sorted out



beachboy


Joined: 12/04/2008
Posts: 11

Message Posted:
15/07/2008 22:50

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Message 8 of 12 in Discussion

I also have had no problems with my contract so far. In fact there was some changes in he contract proposals before I signed it but when I informed Savills they sorted it out for me



Maverick


Joined: 07/05/2008
Posts: 4

Message Posted:
17/07/2008 16:10

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Message 9 of 12 in Discussion

Gooses - As you know when you place a 1,000 reservation fee you secure the property/agreed price for a 30 day period. There were a whole host of errors.

Firstly, they did not issue the contract until after the 30 day period making it impossible to comply. Secondly, when contracts were issued the title numbers did not correspond correctly with those specified in the contract of sale and therefore had to be rectified. When proof was asked for they provided a letter from Vahib & Co stating that they had checked title deeds to ensure that they were un-disputed. However, the title numbers they had searched were in-correct and did not correspond with the land in question.

To sort out the matters above took them 3 months + and then to make matters worse they entered incorrect apartment dimensions on the contract. When asked to rectify nobody seemed to know exactly what they were and it took a further 2 months to confirm the dimensions with the engineer before the contract could be amended.



The developer issued the 'new' contracts in May and both Savills and the developer agreed in writing not to cancel our apartments whilst we signed. 3 weeks later the developer refused to sign cliaming that these prices were agreed 7 months ago. Although of course, as you know, the developer had only sent out this contract 3 weeks prior.



BEWARE! Savills as selling agents only and do not accept liability for their part in this and are not regulated by any authority. They will not aid you in a dispute and will take the "like it or lump" approach. So much for their 200 yrs + reputation that "we can all be assured of"! Some of the Savills sales staff will claim that they are FSA regulated etc so you can be safe guarded. Note that FSA regulations do not extend to overseas products.



If you signed the original contract that the developer issued I would be cautious. There were approximately 15 clause changes in our contract that needed to be amended as they were too ambiguous!



Tiggy


Joined: 25/07/2007
Posts: 1994

Message Posted:
17/07/2008 16:43

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Message 10 of 12 in Discussion

We had a tour of the site with Savills in June. The area is going to be massive and a maze of apartments. Too many for us.



Not knocking the place but the area is down for major development and along with the newly opened Artimas hotel; nine others are planned for development. By the time the Thalassa is finished the beach will be overcrowded.



None of the hundreds of apartments will have solar heating, each an electric emersion. (Not planet friendly) On the good side a water desalination unit is being built.



Good luck to all that have bought and invested.



T.



Gooses


Joined: 16/07/2007
Posts: 60

Message Posted:
18/07/2008 11:36

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Message 11 of 12 in Discussion

maverick - what a nightmare for you - hope it gets sorted out - we made a few changes to our contract before signing so hopefully it is fairly sound. When did you buy? or try to buy!!! as we purchased June last year and i am wondering whether as things got busier KDG have become more take it or leave it approach as interest has grown. Not exactly customer focussed approach especially as the delays are down to them.



Good Luck



coxyammond


Joined: 21/06/2008
Posts: 7

Message Posted:
21/07/2008 20:00

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Message 12 of 12 in Discussion

hi penfold. see my post under 'thalassa beach resort'



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