Yes Pag, I am forced to agree with you, it does seem like it was another waste of money paying P.S. £400++. What about the further information Oliver promised to supply, I haven't seen it. I made 2 calls to P.S but they haven't bothered to get back to me either.

I must admit I am also very surprised at how quiet this thread is, considering there seemed to be quite a few investers in the end.

Has anyone had any luck requesting their deposit back or are you proceeding with the purchase?

Is anybody out there??

I am also an investor in Vitan Platinum.
I do not think that option no 2 suggested by Jhonny's lawers "2. Another option is to claim in court the one-sided cancellation of the pre-agreement" is not fesable.
I think if we take this way we do not have many chances to gain.

So are most people pulling out of this development then? I understand that, like me, a few others were willing to see it through if some sort of discount was on offer but this seems not to have worked so would like to know what our options are now. Despite numerous calls to PS I have not heard back from Oliver so am now in limbo with relation to this development. Anyone have anything of interest or that may be of some help to share on the issue?

What building do you guys have your apartments in as it seems only building 'A' may be completed or near completion (does anyone have an update on this?), therefore assuming the rest are still some way off, the penalty fines could reduce the final cost.

As far as I know they are working now to improve the street near building 'A' and only after they will start the reception of the building. Building B is near to completion (I think not before 3 months from now on).
I have 1 bedroom apartment. Is anyone else that has a 1 bedroom ap? Is there any chance that we qualify for 5% VAT?

As far as I know they are working now to improve the street near building 'A' and only after they will start the reception of the building. Building B is near to completion (I think not before 3 months from now on).
I have 1 bedroom apartment. Is anyone else that has a 1 bedroom ap? Is there any chance that we qualify for 5% VAT?

I found out that a Norwegian company has many apartments in building 'A' and 'B' and they are going to sell them soon.
http: / /www .romaniainvest .no /prosjekter /vitan -platinum -towers/

Hi Ella

From the website you mentioned I think they purchased in both Phase 1 and Phase 2 as did Property Secrets but there are buildings A to D possibly in both or A+B phase 1 and C+D as phase 2, I have never really understood.

I had made an enquiry to the lawyers as I too should qualify for the reduced VAT rate and this was their response:-



Just to confirm that the invitation for the inspection only applies to the apartments within Building A. Please accept our apologies for the inaccuracy inserted in our previous e-mail.

Regarding your enquires with respect to the VAT change, please note the following:


The amendments of the fiscal legislation refer to a 5% VAT (to replace the 19% quota of VAT) for the transactions having as object a building for dwelling purposes if:

i. the useful surface of such building (apartment, house, etc) is lower than 120sqm (excluding the annexes, outbuildings);

ii. the acquisition price does not exceed the amount of 380,000 Ron, excluding VAT (roughly 90,000Euro + VAT);

Please be aware that the reduce VAT rate of 5% is to be applied exclusively on the apartment’s price. For the parking space and the related land to the apartment the 19% VAT is still to be applied.

The seller may apply the 5% VAT rate, if the buyer submits an authenticated statement given in front of a local notary and apostilled by the competent authority (FCO in England)

In order for J&A to assist you to take advantage of this new fiscal regulations that considerably influence the acquisition price, we are kindly asking you to confirm your intention to move further with the signing of the final contract for the Platinum Apartment (if case). At the time we shall receive comments on your decision to continue with this transaction, we are to draft and forward to you the statement above. The marital status (married / single) is to be confirmed at this time as the statement above must reveal such information.

Please allow us to confirm that such formalities are to be deemed as additional services and shall be concordantly charged. The hourly fees offered for this kind of activities is of Euro120 plus VAT.

Which building is your apartment in and where did you hear building B may complete in possibly 3 months?

Johnny

A mate of mine was supposed to be involved in this real estate venture and it seems to be some sort of a sore subject so it does not come up often.

Hi guys,

You can see an image of building A here :
http: / /img38 .imageshack .us /img38 /249 /vitandsc6042 .jpg



I am a romanian and I bought a flat in building A. Unfortunately it seems that we can't renegociate the contracts.