Stage Payment

This topic contains 40 replies, has 13 voices, and was last updated by  yelki 11 years, 7 months ago.

  • Post
    optiontrader
    Member

    Hi Anielka:- We also got ours today.

    Its looks as though construction must have started yesterday(March 10th), as the 3rd stage payment is due no later than April 10th.

    We are in Cor di Mar,and I know you are in Coladera,so construction must be simultaneous.

Viewing 15 replies - 16 through 30 (of 40 total)
  • Replies

    Seems that contracts conditions are not the same for every body

    optiontrader
    Member

    Hi George:- The investors who had to pay their last stage payment by the 10th April were early investors. I think later investors are:-

    1) 3.000 Euros at reservation.
    2) 10%……….30 days later(less reservation).
    3) 10%……….90 days later.
    4) 20%……….6 months later.
    5) 60%……….Deeds.

    kernock
    Member

    Hi guys. I’ve been following the thread ever since I started researching Ponta Bicuda a year ago. We have bought in Tedju. We signed at the beginning of August, and as the 2nd stage payment coincided with the commencement of the construction project, so the 3rd payment was deferred by 6 months. As you say, it’s all in the timing. Just having to make stage 3 payment now, and hurting somewhat on the FX rate… We’ve used HiFX too and found them reasonably efficient at executing. I had an email from Cameron Beverly saying he is leaving Ferreiro Pinto. Has anyone had any dealings with Nuno Roldão or Dora Maurício, who seem to be taking on his PB clients?

    zacstar
    Member

    Hello everyone. I have also been following the threads for a while and am interested to hear everyones opinions. I bought a 3 bed at Tedju about 18 months ago and am really excited about it. I have also bought a 3 bed apartment at Murdeira Beach on Sal. Anyone else know anyting about that? i am visiting the islands in August and will post some latest pictures when I get back.

    seagullsslimjim – do I assume you are a Brighton man? If so, there will be two of us at Ponta Bicuda!

    I love a good game of cricket and play golf off 4 handicap so I very much hope to meet some of you in time. Maybe we should try to organise for as many owners as possible to be there at completion for a big old party?

    Keep well.
    Mark Richards

    hi Zacstar – yes a Brighton fan for my sins and season ticket holder upto last season – i have a 1 bedroom cliff top in Tedju !

    I think others are organising a cricket and golf competition between Ponta and Sambala for circa June 2010.

    The idea of a party is something that would be good too, and nearer the time we could finanlise a date when we can all go over at the same time.

    You can get the latest construction updates , but going to Pontas website and there is a link on the right to the construction pictures.

    Jim

    Sunny Sussex goes south

    optiontrader
    Member

    Hi Kernock:- I am dealing with Dora Mauricio at the moment,she is similiar to Cameron,very professional.

    Whereabouts are you from,we have Pontabicudians from the four corners of the U/K.



    Hi zacstar:- Its good to welcome another Brighton fan to the forum,as I said to seagullsslimjim there’s not many of you’s left(only joking).

    We have a cricket match against “Sambala” scheduled for June 2010, and a golf match scheduled for July 2010.I am confident of the cricket match going ahead on time,maybe “Brookie” can update us on the golf course at “Sambala”.


    kernock
    Member

    I’ve just emailed Dora at Ferreiro Pinto because I thought the next payment was due, but she has said do nothing until I get a letter, as “20% of the price should be paid 1 month after the start of the construction works of the Accommodation Unit, of which the Promissory Seller shall notify you or on 14 May 2008, whichever is the later date.” I have heard nothing from them, but several of you seem to have received letters. Does anyone know what the official “start of construction works of the accommodation unit” is? Sounds to me like it is related to the actual unit, rather than ground works…
    By the way, we’re down in Cornwall – escapees from the big smoke!

    optiontrader
    Member

    Hi Kernock:- In answer to your question regarding the official “start of construction of the accomodation unit”. The Promissory Seller notified us in March 2008 accordingly:-

    As you are aware,our contract establishes the terms of sales with a stage payment due 30 days after the commencement of the construction i.e 10th April 2008.

    The ground works actually started late 2007.There are a lot of developments where they do not even start the groundworks, lay a foundation stone and then claim that is the start of the construction of the accomodation unit.

    Of course in all contract issues you always follow the advice of the experts(your solicitor).

    zacstar
    Member

    Hi everyone. Been a couple of months since I have written and not much happened this end other than my trip to CV getting closer. Going on 18th Aug. Anyone have anything they recommend I see or do whilst I am there? Staying at Riu Hotel on Sal and intending to meet Virgilio costa at PB during the week for a tour. I’ll post some pictures here where I get back.
    Cheers for now.

    kernock
    Member

    Lucky old you… hopefully weather will be better there! Recommend an island tour – interior really stunning. Tarrafal has a great fish restaurant overlooking the beach, and the concentration camp (!) there is worth a visit. This was where the Portugese used to send their political prisoners. It was only closed in the 1950’s!

    brookie
    Member

    Could they open it and stick Gordon Brown in there along with the rest of his goverment

    Brookie

    optiontrader
    Member

    Hi Brookie:- How is the golf course at Sambala progressing….do you think it will be ready for July 2010….if not, do you want to switch the mixed doubles to the pitch and putt at Ponta Bicuda.

    brookie
    Member

    Latest update we have is the golf course will be ready either late 2010 or early 2011.

    Might have to be bar skittles then?

    Brookie

    optiontrader
    Member

    Hi Brookie:- The “Bar Skittles” will please Yelki + penny…they are in charge of the beer tent.

    kirky
    Member

    Have most people paid their second installment of 20% giving a total payment of 40%?

    Also hope we dont have to worrie about current market conditions and that Design Resorts complete the first 3 phase and dont cut corners on the spec of both the apartment finishes and site as proposed 3D pictures look amazing.

    appreciate your reply.

    Kirk Thompson

Viewing 15 replies - 16 through 30 (of 40 total)

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