Hi,
I am interested to hear experiences of people who are renting out in greenfields. What sort of money you can expect? Is it a hassle-free experience, did you have any problems? I've heard that rentals went down this year but don't know whether this is down to euro-ron rate or there are some other factors... Any information would be highly appreciated. J

Hello,

We've had our contract cancelled by Impact, our solicitor has now been in contact to advise us that we need to fill out 'a form' and get Impact to agree that no further penalties will be incurred by us in the furture for not completing the contract. We have had confirmation via email from Impact that our contract was cancelled. Our solicitor is charging €500 for this 'form' to be completed, we just wondered if it was worth while doing or are they just trying to obtain more funds from us?

Anybody else had the same issues?

Thanks

Hi there, The best thing to do is to get in touch with the developer and ask them directly if that is the procedure and if they are still looking to recover any penalties! If they are not trying to charge any penalties, get a written confirmation from them, stating that there are no more consequences, nor liabilities involved. If the developer wanted clients to pay penalties, they would have informed you about that and the clients would have signed and Addendum to the contract ( new agreement) in which they agreed to pay the penalties. If you have never signed such a document, you shouldn’t have to pay anything to anyone! If you don't trust your lawyer, please seek independent legal advice!! After the contract has been terminated, it is very unlikely for the developer to be able to claim any penalties!

If the developer has already forfeited your deposit that would usually be the end of the matter. However, it could be that Impact are seeking to have fuller closure on the situation by trying to intimidate you with the threat of penalties - they have perhaps learnt this tactic from working with the M(uch) R(eviled) I(rish) - or that they realise that they do not have a bullet-proof situation themselves. The chances for Impact to sue in Romania and then to come and successfully enforce a judgment are negligible.

If the forms are to be filled out by the lawyers recommended by the agent who introduced the property, ask yourself the question: Have they advised me whether this is necessary and how it is in my interest?

Hi there, I am one of Impact's agents in London, and helped some of the clients who have purchased the properties through the "spanish agent", complete the purchase from Impact. Impact has requested us to inform clients not to pay any money to lawyers and anyone, prior to clarifications with them. Apparently , some lawyers were charging clients for documents that were issued for free by Impact. We had clients who agreed to pay penalties for the delayed payment, but they have signed a separate agreement with Impact!

Thanks very much for the information.

P

You're braver than I am.

In fact I'm surprised more of you aren't being pursued by developers' solicitors inside the UK over 'specific performance', like so many off-plan buyers are in the UK are being pursued.

Not being able to get a mortgage is no defence for not completing, as I understand it.

All the yadda about acts-of-god force-majure.. 'no-one-could-have-forseen-a-credit-crunch" despite there having been so many of them in history.. no defence in law.

Romania has also boosted it's laws for debt recovery.
http: / /www .hr .ro /digest /200608 /digest .htm

Thank you for mentioning White Mountain, I am flattered. We have worked tirelessly to build up a genuinly respected name since 2007!

I have to defend myself here though. Whilst I would humbly concede you are probably in good hands with Grupo from what others say, I definitely protest at them being voted better furnishers than us because we carry out that task with what can only be described as fanatical enthusiasm. In fact I would happily challenge anyone to improve on say, a pack such as this http: / /www .whitemountain .ro /interior _design _furnishing /tampa _gardens _brasov/ for less than we charge. I'm not for a minute suggesting others do poor work, but I do know, we cannot be beaten on cost & quality for a like for like job & I would welcome any challenge to that, not through words. Anyone can tell you how good they are. Lets see the photos or videos & have clients genuine feedback.

Without actual client feedback, after the benefit of a working relationship & not before, you are merely dealing with hopes. For example, a client came to us for something this week, & just a day later, someone he recommended also came to us, saying he'd been recommended by his friend because 'we knew more about the Brasov market than every other agent in town', which, I am sad to say, is just not true! We are good & for some sections of the market, yes, we do know more than others, but of course we cant be better that 50 other agents for every aspect of the whole city. We are good at some things & others are good at other things.

Moral is, just make sure your recommendations come from genuine history, & not just someone who is filled with hope after an excellent meeting. Of course it is music to your ears, but talk to older clients too.

Best regards

Guys, you seem to have had a bad run of it in Romania. I myself moved here from the cosy Cotswold's to manage my own portfolio, & then set up White Mountain Property. Anyone who needs guidance or advice, feel free to look me up at whitemountain.ro. Happy to give free advice & happy to take on disillusioned clients. If you are not completely impressed, we wont charge you any fee. Our aim is has from day 1 to become the best & I stand by that. I don't want to comment on other's performance, but you do not have to live with your investment in despair.


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Talk to EasyCredit/ Stefan Willems. He's the man when it comes to all things eternal, such as mortgages!